146 E 89th Street, Los Angeles, California 90003, Los Angeles, 90003 - bed, bath
ACTIVE$799,000$3,522/sqft
146 E 89th Street, Los Angeles, California 90003
0Bed
0Bath
3,522Sqft
5,388Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Multi-Unit Investment: Excellent 3-unit investment opportunity, comprising a duplex and a detached single-family residence, ideal for generating multiple income streams.
Top Cons:
Below-Market Rents in Occupied Units: Current rents for the occupied units are slightly below market, requiring strategic rent increases or unit turnovers to maximize income.
Compared to the nearby listings
Price:$799.0K vs avg $745.0K (+$54,000)58%
Size:3,522 sqft vs avg 1,886 sqft93%
Price/sqft:$227 vs avg $3847%
More Insights
Built in 1961 (65 years old).
Condition: The property was built in 1961, making it over 60 years old. While the interior appears clean and functional, the kitchen features dated wood cabinets and laminate countertops, and the bathroom has a jetted tub with very dated decorative fish tiles, suggesting a renovation that occurred 15-30 years ago. The description also notes a 'value-add opportunity through light upgrades,' indicating minor updates are needed to modernize the units. Major systems appear functional, but the style is outdated, aligning with the 'Fair' criteria.
Year Built
1961
Close
-
List price
$799K
Original List price
$799K
Price/Sqft
$227
HOA
-
Days on market
-
Sold On
-
MLS number
SB25282064
Home ConditionFair
Features
Good View:
Patio
View-
About this home
Excellent 3-unit investment opportunity with strong upside potential. The property consists of a front duplex and a detached single-family residence in the rear. Each unit features 2 bedrooms and 1 bathroom and includes washer/dryer hookups. The rear unit will be delivered vacant and offers central air conditioning, providing immediate rental or owner-user potential. The remaining units are tenant occupied at slightly below-market rents with long-term, reliable tenants who pay on time, offering stable cash flow with future rent growth opportunity. The property includes four off-street parking spaces located in the rear. The units are spacious and present a strong value-add opportunity through light upgrades. Contact listing agent for private showings.
R
Randy Russell
Listing Agent
Price History
Date
Event
Price
06/27/19
Sold
$650,000
02/28/11
Sold
$241,000
03/22/10
Sold
$168,000
Condition Rating
Fair
The property was built in 1961, making it over 60 years old. While the interior appears clean and functional, the kitchen features dated wood cabinets and laminate countertops, and the bathroom has a jetted tub with very dated decorative fish tiles, suggesting a renovation that occurred 15-30 years ago. The description also notes a 'value-add opportunity through light upgrades,' indicating minor updates are needed to modernize the units. Major systems appear functional, but the style is outdated, aligning with the 'Fair' criteria.
Pros & Cons
Pros
Multi-Unit Investment: Excellent 3-unit investment opportunity, comprising a duplex and a detached single-family residence, ideal for generating multiple income streams.
Immediate Vacancy & Flexibility: The rear unit is delivered vacant, offering immediate potential for an owner-user or new tenant at market rates, enhancing flexibility and income potential.
Stable Tenant Base: Two units are occupied by long-term, reliable tenants paying on time, providing a foundation of stable cash flow.
Significant Value-Add Potential: Property offers strong upside potential through light upgrades and rent adjustments, allowing for future rent growth and increased asset value.
Dedicated Off-Street Parking: Includes four valuable off-street parking spaces, a significant amenity in Los Angeles, enhancing tenant appeal and convenience.
Cons
Below-Market Rents in Occupied Units: Current rents for the occupied units are slightly below market, requiring strategic rent increases or unit turnovers to maximize income.
Capital Expenditure for Upgrades: Realizing the full value-add potential will require additional capital investment for light upgrades across the units.
Partial Air Conditioning: Only the vacant rear unit features central air conditioning, potentially limiting tenant appeal or comfort in the other two units.