1475 W 28th Street, Los Angeles, California 90007, Los Angeles, 90007 - bed, bath
ACTIVE$1,250,000
1475 W 28th Street, Los Angeles, California 90007
0Bed
0Bath
2,597Sqft
7,432Lot
Year Built
1922
Close
-
List price
$1.25M
Original List price
$1.3M
Price/Sqft
$481
HOA
-
Days on market
-
Sold On
-
MLS number
WS25071531
Home ConditionPoor
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.25M(50th), sqft - 2597(40th), beds - undefined(50th), baths - undefined(50th).
1. 4 beds 3 baths 1 kitchen, students occupied. 2. 1 bed 1 bath 1 kitchen, students occupied. 3. 1 bed 1 bath 1 kitchen, month by month tenants. 4. 3 beds 1 bath 1 kitchen, month by month tenants.
Price History
Date
Event
Price
08/15/22
Sold
$1,000,000
02/10/22
Sold
$750,000
04/12/99
Sold
$215,000
Condition Rating
Poor
Built in 1922, this property is over a century old. The images reveal extremely dated kitchens and bathrooms, featuring older cabinets, laminate countertops, linoleum/vinyl flooring, and white, older model appliances. While currently tenant-occupied, the interior spaces require substantial rehabilitation and modernization. Given its age, major system upgrades (electrical, plumbing, HVAC) are also highly probable, aligning with the 'Poor' condition criteria of requiring substantial repairs and rehabilitation.
Pros & Cons
Pros
Strong Rental Income Potential: As a triplex with multiple units (totaling 9 beds, 6 baths, 4 kitchens) currently occupied by students and month-to-month tenants, the property offers immediate and diversified rental income streams.
Prime Rental Location: Situated in Los Angeles (90007), a highly desirable area often associated with major universities like USC, ensuring strong demand for student housing and consistent occupancy.
Income Diversification: The triplex configuration provides income diversification across multiple units, mitigating risk compared to a single-unit investment property.
Generous Lot Size: The 7,432 sqft lot is substantial for an urban multi-unit property, offering potential for outdoor amenities, additional parking, or future development (subject to zoning).
Recent Price Reduction: A $50,000 price reduction from the original list price ($1.3M to $1.25M) indicates a potential opportunity for buyers and a motivated seller.
Cons
Advanced Age & Potential for Extensive Upgrades: Built in 1922, the property is over a century old, likely requiring significant investment in system upgrades (electrical, plumbing, HVAC) and general modernization to meet current standards and tenant expectations.
Tenant Management Complexity: The presence of 'students occupied' and 'month by month tenants' suggests potential complexities in tenant management, including higher turnover, specific student housing needs, and navigating tenant rights for any future renovations or changes in occupancy.
Lack of Property Condition Details: The listing provides no information regarding the current condition of the units or the overall property, which could imply hidden maintenance issues or the need for substantial repairs not immediately apparent.