1361 W Vernon Avenue, Los Angeles, California 90037, Los Angeles, 90037 - bed, bath
ACTIVE$750,000
1361 W Vernon Avenue, Los Angeles, California 90037
0Bed
0Bath
1,892Sqft
6,526Lot
Year Built
1923
Close
-
List price
$750K
Original List price
$750K
Price/Sqft
$396
HOA
-
Days on market
-
Sold On
-
MLS number
SB25065803
Home ConditionFair
Features
Patio
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $750.0K(30th), sqft - 1892(30th), beds - undefined(50th), baths - undefined(50th).
Updated Financials! 1361 Vernon is a fantastic owner/user or investment opportunity featuring three bungalow style units, consisting of (2) 1-Bed/1-Bath and (1) 2-Bed/1-Bath units. Recent Capital improvements include newly replaced roofs, all-copper plumbing and is separately metered for gas and electricity, ensuring lower operating expenses. This investment opportunity is ideal for any investor with potential ADU opportunities via SB 1211 and 52% rental upside in existing tenants. With one 1-Bed/1-Bath unit delivered vacant by COE, this is ideal for an owner/user as well. Located minutes from USC, BMO Stadium and LA Natural History Museum, 1361 W Vernon is in a rapidly growing submarket of Los Angeles.
Nearby schools
3/10
Normandie Avenue Elementary School
Public,•K-5•0.1mi
/10
Dr. James Edward Jones Primary Center
Public,•K-2•0.5mi
5/10
Menlo Avenue Elementary School
Public,•K-5•0.6mi
2/10
Marguerite Poindexter Lamotte Elementary
Public,•K-5•0.6mi
2/10
Martin Luther King Jr. Elementary School
Public,•K-5•0.7mi
2/10
Western Avenue Elementary School
Public,•K-5•0.8mi
3/10
Fifty-Second Street Elementary School
Public,•K-5•0.9mi
5/10
West Vernon Avenue Elementary School
Public,•K-5•1.1mi
2/10
Forty-Second Street Elementary School
Public,•K-5•1.3mi
3/10
Angeles Mesa Elementary School
Public,•K-5•1.4mi
2/10
Tom Bradley Global Awareness Magnet School
Public,•K-5•1.5mi
2/10
Main Street Elementary School
Public,•K-5•1.6mi
3/10
Trinity Street Elementary School
Public,•K-5•1.8mi
/10
Maple Primary Center
Public,•K-1•1.8mi
3/10
Sixth Avenue Elementary School
Public,•K-5•2.1mi
2/10
Barack Obama Global Preparation Academy
Public,•6-8•0.6mi
2/10
John Muir Middle School
Public,•6-8•1.3mi
3/10
William Jefferson Clinton Middle School
Public,•6-8•1.7mi
2/10
Audubon Middle School
Public,•6-8•1.8mi
1/10
Horace Mann Junior High School
Public,•6-8•2.0mi
3/10
Los Angeles Academy Middle
Public,•6-8•2.3mi
3/10
Manual Arts Senior High School
Public,•9-12•0.5mi
2/10
Augustus F. Hawkins High A Critical Design And Gaming
Public,•9-12•1.4mi
1/10
Crenshaw Science, Technology, Engineering, Math And Medicine Magnet
Public,•9-12•1.8mi
5/10
Santee Education Complex
Public,•9-12•2.7mi
3/10
Nava College Preparatory Academy
Public,•9-12•2.8mi
Price History
Date
Event
Price
03/26/25
Listing
$750,000
09/17/14
Sold
$28,500
10/28/11
Sold
$225,000
09/13/96
Sold
$119,000
Condition Rating
Fair
Built in 1923, this property is aged but has received significant capital improvements, including newly replaced roofs and all-copper plumbing, which address major structural and system integrity concerns. However, the interior, particularly the kitchen, is very outdated with old cabinets, appliances, and worn countertops, requiring substantial renovation. The hardwood floors show significant wear, and the presence of window AC units suggests a lack of central cooling. While core systems are updated, the aesthetic and functional condition of the living spaces requires more than minor updates to meet modern standards.
Pros & Cons
Pros
Multi-Unit Income Property: The property is a triplex with three bungalow-style units, providing multiple income streams and a strong investment foundation.
Recent Capital Improvements: Significant updates including newly replaced roofs and all-copper plumbing reduce immediate maintenance concerns and enhance long-term property value.
Separately Metered Utilities: Gas and electricity are separately metered for each unit, ensuring lower operating expenses for the owner and simplifying tenant billing.
Significant Value-Add Potential: The property offers potential for ADU development via SB 1211 and boasts a substantial 52% rental upside in existing tenants, promising future income growth and appreciation.
Strategic Vacancy & Prime Location: One 1-Bed/1-Bath unit delivered vacant at COE provides immediate flexibility for owner-occupancy or market-rate rental adjustment, complemented by a location minutes from USC, BMO Stadium, and a rapidly growing submarket.
Cons
Age of Property: Built in 1923, despite recent capital improvements, an older structure may still present unforeseen maintenance challenges or require further modernization beyond the listed updates.
Below Market Rents: While offering significant upside, the 52% rental upside implies current rents for occupied units are substantially below market, meaning immediate cash flow is suboptimal and rent increases may require time and effort.
Potential for Outdated Interiors: As bungalow-style units from 1923, some interiors or layouts might not fully align with modern tenant preferences, potentially requiring additional investment for cosmetic or functional upgrades.