146 W Vernon, Los Angeles, California 90037, Los Angeles, 90037 - bed, bath
ACTIVE$1,100,000
146 W Vernon, Los Angeles, California 90037
0Bed
0Bath
3,972Sqft
6,076Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Strong Income Potential: As a 4-plex with three occupied units and one vacant, the property offers significant rental income, allowing an owner-occupant to offset mortgage costs or an investor to generate substantial cash flow, especially given its proximity to USC.
Top Cons:
Limited Access for Due Diligence: The inability to inspect all three occupied units until an offer is accepted poses a challenge for thorough due diligence and may deter some potential buyers.
Compared to the nearby listings
Price:$1.10M vs avg $670.0K (+$430,000)97%
Size:3,972 sqft vs avg 1,495.5 sqft94%
Price/sqft:$277 vs avg $4529%
More Insights
Built in 1914 (111 years old).
Condition: Despite being built in 1914, the property has undergone extensive and recent renovations, including new copper plumbing, a new sewer line, and updated electrical, which are significant improvements for an older home. The interior features new-looking LVP flooring, fresh paint, and refreshed kitchens and bathrooms with updated fixtures (e.g., modern kitchen faucet, new bathroom vanity and toilet). While the kitchen cabinets appear to be older units that have been painted, and there is no central air conditioning (relying on wall heaters), the property is move-in ready with major systems updated and minimal wear and tear, aligning with the 'Good' condition criteria.
Year Built
1914
Close
-
List price
$1.1M
Original List price
$1.1M
Price/Sqft
$277
HOA
-
Days on market
-
Sold On
-
MLS number
PW25242839
Home ConditionGood
Features
View-
About this home
Live in 1 and use the other 3 units to pay the mortgage! Remodeled craftsman style 4-Plex with lots of character consisting of 4 units located in high and strong rental income in the area close to USC. The property has undergone renovations including all new copper plumbing, new sewer line, updated electrical, new paint, and new landscaping. Its is located just blocks from 110 freeway and major streets like Slauson and Western Avenues. Please do not disturb the tenants. Call listing agents for appointment to see the vacant unit, other 3 units will be shown with an accepted offer. This is a rare opportunity and won’t last! Notes : Unit 1 - 146 Unit 2 - 148 Unit 3 - 150 Unit 4 - 152 (Currently Vacant)
Price History
Date
Event
Price
04/24/98
Sold
$300,000
04/24/98
Sold
$186,000
09/20/12
Sold
$490,004
03/01/12
Sold
$290,000
03/28/03
Sold
$275,000
Condition Rating
Good
Despite being built in 1914, the property has undergone extensive and recent renovations, including new copper plumbing, a new sewer line, and updated electrical, which are significant improvements for an older home. The interior features new-looking LVP flooring, fresh paint, and refreshed kitchens and bathrooms with updated fixtures (e.g., modern kitchen faucet, new bathroom vanity and toilet). While the kitchen cabinets appear to be older units that have been painted, and there is no central air conditioning (relying on wall heaters), the property is move-in ready with major systems updated and minimal wear and tear, aligning with the 'Good' condition criteria.
Pros & Cons
Pros
Strong Income Potential: As a 4-plex with three occupied units and one vacant, the property offers significant rental income, allowing an owner-occupant to offset mortgage costs or an investor to generate substantial cash flow, especially given its proximity to USC.
Extensive Capital Upgrades: Recent major renovations including new copper plumbing, sewer line, updated electrical, paint, and landscaping significantly reduce immediate maintenance concerns and enhance property value.
Strategic Location: Situated close to the University of Southern California (USC) and major freeways (110, Slauson, Western Avenues), ensuring high rental demand and convenient access for residents.
Architectural Charm: The remodeled Craftsman style 4-Plex retains its original character, which is often desirable and adds to the property's aesthetic appeal and marketability.
Immediate Occupancy/Rental Opportunity: One unit is currently vacant, providing flexibility for an owner-occupant or allowing for immediate rental income generation without tenant turnover delays.
Cons
Limited Access for Due Diligence: The inability to inspect all three occupied units until an offer is accepted poses a challenge for thorough due diligence and may deter some potential buyers.
Age-Related Maintenance Considerations: Despite recent renovations, the property's 1914 construction year may still imply potential for age-related structural or systemic issues not covered by the listed upgrades.
Multi-Unit Management Demands: Operating a 4-plex requires a higher level of property management, including tenant relations, lease administration, and ongoing maintenance for multiple units, which can be demanding for new investors.