1267 E 56th Street, Los Angeles, California 90011, Los Angeles, 90011 - bed, bath
ACTIVE$1,195,000
1267 E 56th Street, Los Angeles, California 90011
0Bed
0Bath
2,066Sqft
5,392Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
High-Yield Investment Metrics: An impressive 7.87% cap rate and 9.80 GRM indicate strong immediate cash flow and a high return on investment for a Los Angeles property.
Top Cons:
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 2066, other record living area = 1394.
Compared to the nearby listings
Price:$1.20M vs avg $672.0K (+$523,000)88%
Size:2,066 sqft vs avg 2,042 sqft54%
Price/sqft:$578 vs avg $34588%
More Insights
Built in 1940 (85 years old).
Condition: Built in 1940, the property is aged, but the visible interiors, particularly the kitchens, show recent cosmetic updates including stainless steel appliances, updated cabinetry, new flooring (tile/laminate), and subway tile backsplashes. These updates make the units functional and move-in ready for tenants. However, without full visibility into all units, especially bathrooms, and considering the property's age and the MLS note about 'potential for deferred maintenance' on major systems, it's likely that while cosmetically refreshed, the underlying infrastructure may still be original or older. The updates are functional and clean but not extensive enough to qualify as a full renovation that would elevate an 84-year-old property to 'Good' condition.
Year Built
1940
Close
-
List price
$1.2M
Original List price
$1.2M
Price/Sqft
$578
HOA
-
Days on market
-
Sold On
-
MLS number
SB25269968
Home ConditionFair
Features
View-
About this home
1267 E 56th Street presents an opportunity to acquire a stable, income-producing four-unit property in the heart of Los Angeles. Spread across 2,066 square feet on a 5,392 square foot lot, the property features a well-balanced unit mix of (3) 1 Bedroom/1 Bath units and (1) 3 Bedroom/2 Bath unit. The asset generates a strong $10,164 in monthly rental income, supported entirely by Section 8 tenancy, providing investors with secure, government-backed rent payments and exceptional income reliability. With an impressive 7.87% cap rate and 9.80 GRM, this property stands out as a high-yield investment with dependable performance and minimal collection risk. Residents benefit from the property’s central South LA location, offering convenient access to major employment centers, public transit lines, and key corridors connecting to Downtown Los Angeles and the surrounding metro area. The combination of strong in-place income, stable tenancy, and an efficient unit mix makes 1267 E 56th Street an ideal acquisition for investors seeking immediate cash flow and long-term portfolio strength.
Nearby schools
2/10
Hooper Avenue Elementary School
Public,•1-5•0.3mi
2/10
Aurora Elementary School
Public,•K-5•0.3mi
2/10
Forty-Ninth Street Elementary School
Public,•K-5•0.7mi
2/10
Holmes Avenue Elementary School
Public,•K-6•0.7mi
3/10
Sally Ride Elementary: A Smart Academy
Public,•K-5•0.7mi
4/10
Ascot Avenue Elementary School
Public,•K-5•0.8mi
5/10
Lillian Street Elementary School
Public,•K-6•0.8mi
2/10
Harmony Elementary School
Public,•K-5•1.1mi
5/10
Estrella Elementary School
Public,•K-5•1.2mi
3/10
Wadsworth Avenue Elementary School
Public,•K-5•1.2mi
4/10
Nevin Avenue Elementary School
Public,•K-5•1.4mi
4/10
Quincy Jones Elementary School
Public,•K-5•1.6mi
5/10
Pacific Boulevard School
Public,•K-5•1.7mi
3/10
Twenty-Eighth Street Elementary School
Public,•K-5•1.9mi
5/10
Twentieth Street Elementary School
Public,•K-5•2.1mi
3/10
Los Angeles Academy Middle
Public,•6-8•0.6mi
3/10
Thomas A. Edison Middle School
Public,•6-8•0.7mi
3/10
George Washington Carver Middle School
Public,•6-8•0.9mi
6/10
Vernon City Elementary School
Public,•K-7•1.5mi
2/10
Dr. Julian Nava Learning Academies-School Of Business And Technology
Public,•6-8•1.6mi
3/10
Henry T. Gage Middle School
Public,•6-8•2.2mi
2/10
Thomas Jefferson Senior High School
Public,•9-12•1.2mi
3/10
Nava College Preparatory Academy
Public,•9-12•1.2mi
3/10
John C. Fremont Senior High School
Public,•9-12•1.8mi
4/10
Huntington Park Senior High School
Public,•9-12•2.0mi
5/10
Santee Education Complex
Public,•9-12•2.6mi
5/10
STEM Academy of Boyle Heights HS
Public,•9-12•3.9mi
5/10
Felicitas And Gonzalo Mendez High
Public,•9-12•4.2mi
Price History
Date
Event
Price
05/29/97
Sold
$64,000
02/24/23
Sold
$620,000
09/11/15
Sold
$365,000
11/10/10
Sold
$277,000
Condition Rating
Fair
Built in 1940, the property is aged, but the visible interiors, particularly the kitchens, show recent cosmetic updates including stainless steel appliances, updated cabinetry, new flooring (tile/laminate), and subway tile backsplashes. These updates make the units functional and move-in ready for tenants. However, without full visibility into all units, especially bathrooms, and considering the property's age and the MLS note about 'potential for deferred maintenance' on major systems, it's likely that while cosmetically refreshed, the underlying infrastructure may still be original or older. The updates are functional and clean but not extensive enough to qualify as a full renovation that would elevate an 84-year-old property to 'Good' condition.
Pros & Cons
Pros
High-Yield Investment Metrics: An impressive 7.87% cap rate and 9.80 GRM indicate strong immediate cash flow and a high return on investment for a Los Angeles property.
Secure, Government-Backed Income: 100% Section 8 tenancy ensures reliable, government-backed rent payments, significantly reducing collection risk and providing income stability.
Multi-Unit Diversification: As a four-unit quadruplex, the property offers diversified income streams, mitigating risk compared to single-unit investments.
Strategic Urban Location: Situated in central South LA, providing convenient access to major employment centers, public transit, and key corridors to Downtown Los Angeles, enhancing tenant demand.
Balanced Unit Configuration: The mix of three 1-bedroom/1-bath units and one 3-bedroom/2-bath unit caters to a broader range of tenant needs and maximizes rental potential.
Cons
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 2066, other record living area = 1394.
Property Age & Potential for Deferred Maintenance: Built in 1940, the property is likely to require significant capital expenditures for updates to systems (plumbing, electrical) and general modernization, which could impact long-term profitability.
Full Reliance on Section 8 Program: While providing income security, complete dependence on Section 8 tenancy may limit the future buyer pool and expose the investment to potential changes in government housing policies or funding.
Neighborhood Perception/Market Limitations: While central, the specific South LA location might present challenges related to neighborhood perception, potentially affecting future appreciation rates or attracting a broader tenant demographic if market-rate conversion were considered.