1414 W 54th Street, Los Angeles, California 90062, Los Angeles, 90062 - 3 bed, 3 bath
ACTIVE$690,000$1,300/sqft
Est. Value: $723,413
4%
BelowEstimate
1414 W 54th Street, Los Angeles, California 90062
3Beds
3Baths
1,300Sqft
4,096Lot
Price Vs. Estimate
The estimated value ($723,413.07) is $33,413.07 (4%) higher than the list price ($690,000). This property may be underpriced.
Key pros and cons
Top Pros:
High Income-Generating ADU: The permitted Accessory Dwelling Unit (ADU) is a significant asset, currently generating substantial monthly income of $3,000-$3,500, providing excellent cash flow and investment returns.
Top Cons:
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 1300, other record living area = 816. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 1.
Compared to the nearby listings
Price:$690.0K vs avg $805.0K ($-115,000)36%
Size:1,300 sqft vs avg 1,393 sqft44%
Price/sqft:$531 vs avg $55639%
More Insights
Built in 1941 (85 years old).
Condition: The property, built in 1941, benefits from significant updates. The main house features updated wood-look tile flooring, granite countertops, and refreshed bathrooms that are clean and functional, though the style may suggest updates from 10-20 years ago. The permitted ADU is a standout, boasting a beautifully renovated, modern kitchen with subway tile, butcher block countertops, and stainless steel appliances, along with a stylish subway tile bathroom with a clawfoot tub. The ADU also includes a modern mini-split AC unit. Both units are move-in ready with no immediate renovations required, aligning with the 'Good' condition criteria for properties extensively renovated within the last 5-15 years.
Year Built
1941
Close
-
List price
$690K
Original List price
$690K
Price/Sqft
$531
HOA
-
Days on market
-
Sold On
-
MLS number
26634921
Home ConditionGood
Features
ViewCourtyard
About this home
Perfect starter property with permitted ADU for great cash flow. 1414 W. 54th Street is an amazing investment opportunity just south of USC and DTLA, with easy access to the 110 freeway. The fully gated property is comprised of 2 buildings, the main house is a 2 Bed/2Bath (owner occupied) with beautiful wood floors, granite countertops and refreshed bathrooms. Detached is a permitted ADU studio (currently bringing in $3,000-$3,500 per month) featuring a beautiful subway tile kitchen with butcher block countertops, subway tile bathroom with a clawfoot tub & shower combo, and a front grass area ideal for lounging. There is also a detached garage (3rd structure) with laundry room that can be turned into a Jr. ADU, if new owner wishes to add to the property.
S
Steven Ghafouri
Listing Agent
Price History
Date
Event
Price
04/22/21
Sold
$580,000
10/23/18
Sold
$440,000
Condition Rating
Good
The property, built in 1941, benefits from significant updates. The main house features updated wood-look tile flooring, granite countertops, and refreshed bathrooms that are clean and functional, though the style may suggest updates from 10-20 years ago. The permitted ADU is a standout, boasting a beautifully renovated, modern kitchen with subway tile, butcher block countertops, and stainless steel appliances, along with a stylish subway tile bathroom with a clawfoot tub. The ADU also includes a modern mini-split AC unit. Both units are move-in ready with no immediate renovations required, aligning with the 'Good' condition criteria for properties extensively renovated within the last 5-15 years.
Pros & Cons
Pros
High Income-Generating ADU: The permitted Accessory Dwelling Unit (ADU) is a significant asset, currently generating substantial monthly income of $3,000-$3,500, providing excellent cash flow and investment returns.
Exceptional Investment Opportunity: Described as a 'perfect starter property' and 'amazing investment opportunity,' this property offers strong potential for appreciation and rental income, especially with its multiple units.
Strategic Location: Located just south of USC and DTLA with easy access to the 110 freeway, the property benefits from high rental demand and a desirable urban setting.
Future Income Expansion Potential: The detached garage, complete with a laundry room, offers a clear opportunity for conversion into a Junior ADU, further increasing the property's income-generating capacity.
Updated Main Residence: The main house features attractive updates including beautiful wood floors, granite countertops, and refreshed bathrooms, enhancing its appeal and move-in readiness.
Cons
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 1300, other record living area = 816. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 1.
Property Age & Potential Maintenance: Built in 1941, the property, despite recent updates, may present ongoing maintenance challenges and require more frequent upkeep typical of older constructions.
Compact Overall Living Space: With a total of 1300 sqft for a 2-bedroom main house and a studio ADU, the combined living areas might feel constrained for some owner-occupants or larger families.
Landlord Responsibilities: The presence of an income-generating ADU (and potential Jr. ADU) necessitates active tenant management, which may not appeal to all buyers seeking a purely owner-occupied residence.