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1263 E 87th Place, Los Angeles, California 90002, Los Angeles, 90002 - 6 bed, 4 bath

1263 E 87th Place, Los Angeles, California 90002 home-pic-0
ACTIVE$900,000
1263 E 87th Place, Los Angeles, California 90002
6Beds
4Baths
3,310Sqft
5,063Lot
Year Built
1925
Close
-
List price
$900K
Original List price
$950K
Price/Sqft
$272
HOA
-
Days on market
-
Sold On
-
MLS number
PW25045621
Home ConditionFair
Features
ViewCity Lights

About this home

We found 3 Cons,5 Pros. Rank: price - $900.0K(75th), sqft - 3310(92th), beds - 6(92th), baths - 4(92th).

Great opportunity to own an affordable two-unit property in Metropolitan South Los Angeles! This versatile mixed-use property is perfect for owner occupancy with rental income or as a solid investment property. Front Unit: Detached 2-bedroom, 1-bath home, currently rented for $2,200/month. Rear Unit: Features include a laundry room, formal living and dining rooms, open-concept design, and a second-floor family room. Parking & Storage: Secure 3-car garage with alley access and additional storage garage at the end of the driveway. Utilities: Both units are individually metered for gas, electricity, and trash. Tenants pay their own utilities, with the owner only responsible for water and general maintenance. Great income potential in a high-demand area. Don't miss out on this fantastic investment opportunity!

Price History

Date
Event
Price
10/16/13
Sold
$439,000
Condition Rating
Fair
Built in 1925, this duplex presents a mixed condition. The front unit features a very dated kitchen with old cabinets, laminate countertops, and linoleum flooring, along with an equally outdated bathroom with older fixtures and tile. These areas require substantial modernization. However, the rear unit has undergone a recent, significant renovation, boasting a modern kitchen with shaker cabinets, granite countertops, stainless steel appliances, and updated bathrooms with contemporary finishes and tile flooring throughout. While the rear unit is in good condition, the overall property's age and the very dated state of the front unit's key areas bring the average condition down to 'Fair', indicating it's aged but maintained, with one unit needing significant updates to meet current standards.
Pros & Cons

Pros

Income-Generating Duplex: The property is a versatile two-unit setup, with one unit already rented for $2,200/month, offering immediate rental income and flexibility for owner-occupancy or pure investment.
Strong Parking & Storage: Features a secure 3-car garage with alley access and an additional storage garage, providing ample and valuable parking and storage solutions in Los Angeles.
Reduced Operating Costs: Both units are individually metered for gas, electricity, and trash, with tenants responsible for these utilities, significantly reducing the owner's ongoing expenses.
Versatile Investment Opportunity: Appeals to a broad range of buyers, including owner-occupants seeking supplemental income and investors looking for a solid income-producing asset.
High-Demand Location: Situated in Metropolitan South Los Angeles, described as a 'high-demand area,' indicating strong rental market potential and likely appreciation.

Cons

Age of Property & Potential Condition: Built in 1925, the property's age suggests potential for outdated systems (plumbing, electrical) and deferred maintenance, which may require significant capital investment.
Unspecified Renovation Status: While the rear unit has some described features, the overall condition and recent renovation status of both units are not explicitly detailed, potentially implying an older or 'as-is' state.
Owner's Maintenance Burden: Despite individually metered utilities for tenants, the owner remains responsible for water and general maintenance, which can be a considerable and unpredictable expense for an older, multi-unit property.

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