138 W 66th Street, Los Angeles, California 90003, Los Angeles, 90003 - bed, bath
ACTIVE UNDER CONTRACT$1,114,000
138 W 66th Street, Los Angeles, California 90003
0Bed
0Bath
2Sqft
6,620Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Strong Income Potential: The property is a quadruplex with four distinct rental units (three apartments and one separate house), providing multiple income streams and diversified rental revenue for investors.
Top Cons:
Advanced Age of Property: Built in 1910, the property is over a century old, suggesting a high likelihood of requiring significant capital expenditures for deferred maintenance, system upgrades (plumbing, electrical), and general modernization.
Compared to the nearby listings
Price:$1.11M vs avg $750.0K (+$364,000)90%
Size:2 sqft vs avg 1,783 sqft7%
Price/sqft:$557.0K vs avg $37598%
More Insights
Built in 1910 (115 years old).
Condition: Built in 1910, this property is over a century old. The exterior shows significant wear and tear, including aged stucco, security bars, and cracked concrete. The presence of window AC units indicates a lack of modern central cooling/heating systems, and visible exterior wiring suggests outdated electrical infrastructure. While it's an income-generating property, the advanced age and visible condition, coupled with the lack of any evidence of recent major renovations, strongly suggest that the interior, especially kitchens and bathrooms, are severely outdated and require substantial repairs, rehabilitation, and system upgrades (plumbing, electrical) to meet current standards and comfort levels. It requires significant capital expenditure.
Year Built
1910
Close
-
List price
$1.11M
Original List price
$1.14M
Price/Sqft
$557,000
HOA
-
Days on market
-
Sold On
-
MLS number
RS25166396
Home ConditionPoor
Features
View-
About this home
Great investment property for sale! This unique property includes three rental apartments and a separate house. It has two apartments with 2 bedrooms and 1 bathroom each, one apartment with 3 bedrooms and 2 bathrooms, and a 3-bedroom, 1-bathroom house located at the back of the property. It’s a great option for investors looking for steady rental income.
Price History
Date
Event
Price
12/26/00
Sold
$306,000
02/22/22
Sold
$905,000
07/29/09
Sold
$1,063,636
05/29/02
Sold
$365,000
Condition Rating
Poor
Built in 1910, this property is over a century old. The exterior shows significant wear and tear, including aged stucco, security bars, and cracked concrete. The presence of window AC units indicates a lack of modern central cooling/heating systems, and visible exterior wiring suggests outdated electrical infrastructure. While it's an income-generating property, the advanced age and visible condition, coupled with the lack of any evidence of recent major renovations, strongly suggest that the interior, especially kitchens and bathrooms, are severely outdated and require substantial repairs, rehabilitation, and system upgrades (plumbing, electrical) to meet current standards and comfort levels. It requires significant capital expenditure.
Pros & Cons
Pros
Strong Income Potential: The property is a quadruplex with four distinct rental units (three apartments and one separate house), providing multiple income streams and diversified rental revenue for investors.
Desirable Los Angeles Location: Situated in Los Angeles, a major metropolitan area with high rental demand, a robust job market, and strong potential for long-term property value appreciation.
Diverse Unit Mix: The property offers a variety of unit sizes (two 2-bed/1-bath, one 3-bed/2-bath, and one 3-bed/1-bath house), catering to a broader tenant pool and potentially maximizing occupancy rates.
Generous Lot Size: A 6,620 sqft lot provides ample space for a multi-unit property in an urban environment, potentially offering tenant amenities or future development opportunities (subject to zoning).
Recent Price Adjustment: The recent price reduction from $1,139,000 to $1,114,000 indicates a motivated seller and makes the property more competitively priced, potentially attracting more serious buyers.
Cons
Advanced Age of Property: Built in 1910, the property is over a century old, suggesting a high likelihood of requiring significant capital expenditures for deferred maintenance, system upgrades (plumbing, electrical), and general modernization.
Erroneous Square Footage Data: The listed square footage of '2' is clearly incorrect and a significant data discrepancy that requires immediate verification, as it impacts valuation, financing, and accurate property assessment.
Active Under Contract with Price Reduction: While showing buyer interest, the combination of an 'Active Under Contract' status and a recent price reduction could indicate that the initial deal encountered issues or that the property was initially overpriced, potentially signaling underlying concerns.