136 E Avenue 44, Los Angeles, California 90031, Los Angeles, 90031 - bed, bath
ACTIVE$1,499,999
136 E Avenue 44, Los Angeles, California 90031
0Bed
0Bath
4,616Sqft
7,503Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Fully Remodeled Units: All four units have been fully remodeled with modern finishes, offering move-in ready condition which appeals to prospective tenants and minimizes immediate capital expenditures for the new owner.
Top Cons:
High Initial Vacancy Risk: While offering upside, the current high vacancy rate (3 out of 4 units) means the buyer assumes immediate responsibility and potential costs for tenant acquisition, and there will be a period of reduced cash flow until units are leased.
Compared to the nearby listings
Price:$1.50M vs avg $1.07M (+$424,999)92%
Size:4,616 sqft vs avg 2,476 sqft92%
Price/sqft:$325 vs avg $39938%
More Insights
Built in 1906 (119 years old).
Condition: Despite the 1906 build year, the property has undergone a full and extensive recent renovation, as stated in the description and evidenced by the images. The kitchens feature modern white shaker cabinets, dark countertops, subway tile backsplashes, and stainless steel appliances. Bathrooms are updated with modern vanities, fixtures, and subway tile surrounds. All units showcase new wood-look laminate flooring and contemporary light fixtures, presenting a virtually new, move-in ready condition that meets current quality standards.
Year Built
1906
Close
-
List price
$1.5M
Original List price
$1.5M
Price/Sqft
$325
HOA
-
Days on market
-
Sold On
-
MLS number
DW25244911
Home ConditionExcellent
Features
View-
About this home
Fully Remodeled 4-Unit Multifamily with Immediate Upside! Exceptional opportunity to own a 4-unit multifamily property with a desirable unit mix and strong rental potential. The building features one spacious 3-bedroom, 2-bathroom unit and three 3-bedroom, 1-bathroom units. Four units have been fully remodeled, offering modern finishes and move-in ready condition for new tenants. Currently, 3 units are vacant, providing an immediate opportunity to lease at market rents and maximize cash flow. The property is ideally located near schools, shopping, dining, and major freeway access, ensuring consistent rental demand. With updated interiors, large floor plans, and significant income upside from the vacancies, this asset is perfect for both seasoned investors and those expanding their portfolio.
Price History
Date
Event
Price
08/23/11
Sold
$455,000
03/18/04
Sold
$575,000
10/09/03
Sold
$410,000
Condition Rating
Excellent
Despite the 1906 build year, the property has undergone a full and extensive recent renovation, as stated in the description and evidenced by the images. The kitchens feature modern white shaker cabinets, dark countertops, subway tile backsplashes, and stainless steel appliances. Bathrooms are updated with modern vanities, fixtures, and subway tile surrounds. All units showcase new wood-look laminate flooring and contemporary light fixtures, presenting a virtually new, move-in ready condition that meets current quality standards.
Pros & Cons
Pros
Fully Remodeled Units: All four units have been fully remodeled with modern finishes, offering move-in ready condition which appeals to prospective tenants and minimizes immediate capital expenditures for the new owner.
Immediate Income Upside: With three out of four units currently vacant, there's a significant immediate opportunity for the new owner to lease at current market rates, thereby maximizing cash flow and optimizing the property's income potential from day one.
Desirable Unit Mix & Large Floor Plans: The property features a strong unit mix of one 3-bedroom/2-bathroom and three 3-bedroom/1-bathroom units, coupled with large floor plans, which are highly attractive to families or multiple roommates, ensuring consistent rental demand.
Strategic Location: Ideally situated in Los Angeles (Highland Park area) near schools, shopping, dining, and major freeway access, the property benefits from a prime location that supports strong and consistent rental demand.
Multifamily Investment Opportunity: As a 4-unit multifamily property, it presents an exceptional opportunity for both seasoned investors and those looking to expand their portfolio, offering diversified income streams and potential for long-term appreciation in a robust market.
Cons
High Initial Vacancy Risk: While offering upside, the current high vacancy rate (3 out of 4 units) means the buyer assumes immediate responsibility and potential costs for tenant acquisition, and there will be a period of reduced cash flow until units are leased.
Advanced Age of Original Structure: Built in 1906, despite being fully remodeled, the underlying infrastructure of the building may still present potential for unforeseen issues related to plumbing, electrical, or foundation that could require future maintenance or significant capital investment.
Unspecified Tenant Amenities: The description does not detail crucial tenant amenities such as dedicated parking, in-unit laundry, or common area facilities, which could be a competitive disadvantage in attracting and retaining tenants in the Los Angeles rental market.