1500 Allison, Los Angeles, California 90026, Los Angeles, 90026 - bed, bath
ACTIVE$1,398,000
1500 Allison, Los Angeles, California 90026
0Bed
0Bath
1,600Sqft
2,722Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Income-Generating Triplex: The property is a triplex, offering immediate income potential and flexibility for owner-occupancy with rental units, a significant draw for investors or savvy homeowners.
Top Cons:
Advanced Age & Potential for Major System Upgrades: Constructed in 1900, the property is very old, suggesting a high likelihood of needing substantial investment in updating critical systems (plumbing, electrical, HVAC, roof, foundation) to ensure safety and functionality.
Compared to the nearby listings
Price:$1.40M vs avg $1.05M (+$348,000)82%
Size:1,600 sqft vs avg 2,564 sqft18%
Price/sqft:$874 vs avg $41991%
More Insights
Built in 1900 (125 years old).
Condition: Built in 1900, this triplex shows a mix of updates across its units. While one kitchen features more modern white shaker cabinets, newer tile, and a mini-split AC, another unit's kitchen has older dark cabinets, laminate countertops, and dated light fixtures. Bathrooms also show older tile work. The property is aged but appears maintained, with functional components that are often outdated. Given its age and the inconsistent renovation levels, it requires minor to moderate updates and potential major system overhauls to meet current standards, aligning with a 'Fair' condition.
Year Built
1900
Close
-
List price
$1.4M
Original List price
$1.43M
Price/Sqft
$874
HOA
-
Days on market
-
Sold On
-
MLS number
CV25246699
Home ConditionFair
Features
View-
About this home
SELLER MOTIVATED !!!
Nearby schools
4/10
Betty Plasencia Elementary School
Public,•K-6•0.6mi
5/10
Rosemont Avenue Elementary School
Public,•K-5•0.8mi
2/10
Mayberry Street Elementary School
Public,•K-6•0.9mi
/10
Lake Street Primary School
Public,•K-1•1.0mi
8/10
Clifford Street Elementary School
Public,•K-6•1.0mi
3/10
Elysian Heights Elementary School
Public,•K-6•1.1mi
6/10
Castelar Street Elementary School
Public,•K-5•1.2mi
3/10
Gratts Learning Academy For Young Scholars (Glays)
Public,•K-6•1.2mi
7/10
Solano Avenue Elementary School
Public,•K-6•1.3mi
5/10
Micheltorena Street Elementary School
Public,•K-5•1.5mi
7/10
Dorris Place Elementary School
Public,•K-6•1.5mi
8/10
Allesandro Elementary School
Public,•K-6•1.8mi
2/10
Logan Street Elementary School
Public,•K-8•0.3mi
3/10
Sal Castro Middle School
Public,•6-8•1.0mi
6/10
Thomas Starr King Middle School
Public,•6-8•2.0mi
5/10
Virgil Middle School
Public,•6-8•2.1mi
5/10
Florence Nightingale Middle School
Public,•6-8•2.3mi
6/10
Irving STEAM Magnet
Public,•6-8•3.1mi
3/10
Belmont Senior High School
Public,•9-12•1.0mi
8/10
John Marshall Senior High School
Public,•9-12•2.6mi
Price History
Date
Event
Price
09/15/00
Sold
$102,000
08/27/21
Sold
$645,000
11/06/15
Sold
$468,000
Condition Rating
Fair
Built in 1900, this triplex shows a mix of updates across its units. While one kitchen features more modern white shaker cabinets, newer tile, and a mini-split AC, another unit's kitchen has older dark cabinets, laminate countertops, and dated light fixtures. Bathrooms also show older tile work. The property is aged but appears maintained, with functional components that are often outdated. Given its age and the inconsistent renovation levels, it requires minor to moderate updates and potential major system overhauls to meet current standards, aligning with a 'Fair' condition.
Pros & Cons
Pros
Income-Generating Triplex: The property is a triplex, offering immediate income potential and flexibility for owner-occupancy with rental units, a significant draw for investors or savvy homeowners.
Prime Los Angeles Location: Situated in the highly desirable Silver Lake - Echo Park area (90026), known for its vibrant community, amenities, and strong real estate appreciation.
Motivated Seller & Price Adjustment: The explicit 'SELLER MOTIVATED' note coupled with a recent price reduction indicates a strong opportunity for buyers to negotiate a favorable deal.
Historic Character & Renovation Upside: Built in 1900, the property likely possesses unique architectural character, offering significant potential for value appreciation through thoughtful renovation and modernization.
Access to Reputable Schools: Proximity to several well-rated public schools, such as John Marshall Senior High (rating 8) and Clifford Street Elementary (rating 8), enhances its appeal to families.
Cons
Advanced Age & Potential for Major System Upgrades: Constructed in 1900, the property is very old, suggesting a high likelihood of needing substantial investment in updating critical systems (plumbing, electrical, HVAC, roof, foundation) to ensure safety and functionality.
Likely Requires Extensive Renovation: The 'seller motivated' status and age imply the property is likely being sold 'as-is' and will require significant cosmetic and structural renovations to maximize rental income and market value, incurring substantial costs and effort for the buyer.
Limited Lot Size: With a lot size of only 2722 sqft for a triplex, outdoor space may be minimal, potentially limiting tenant amenities or future expansion opportunities, which could be a drawback in the Los Angeles market.