1515 Michigan Avenue 4, Los Angeles, California 90033, Los Angeles, 90033 - bed, bath
ACTIVE$1,250,000
1515 Michigan Avenue 4, Los Angeles, California 90033
0Bed
0Bath
2,458Sqft
6,846Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
High-Yield Investment Opportunity: The property is a quadruplex explicitly marketed as a 'Great investment opportunity' in a desirable urban area, offering multiple rental income streams.
Top Cons:
Advanced Age of Property: Built in 1913, the property is over a century old, suggesting potential for significant maintenance, system updates, and structural concerns.
Compared to the nearby listings
Price:$1.25M vs avg $740.0K (+$510,000)81%
Size:2,458 sqft vs avg 2,178.5 sqft63%
Price/sqft:$509 vs avg $37975%
More Insights
Built in 1913 (112 years old).
Condition: Built in 1913, this property is over a century old. The images reveal extremely dated kitchens and bathrooms with original or very old cabinets, laminate countertops, basic fixtures, and older white appliances. Flooring consists of worn linoleum/vinyl and older hardwood. The property description and analysis explicitly state a 'Likely Need for Renovation/Modernization' and 'potential for significant maintenance, system updates, and structural concerns.' While functional, it requires substantial rehabilitation and system upgrades to meet current standards and maximize its potential, aligning with the 'Poor' condition criteria.
Year Built
1913
Close
-
List price
$1.25M
Original List price
$1.25M
Price/Sqft
$509
HOA
-
Days on market
-
Sold On
-
MLS number
DW25035019
Home ConditionPoor
Features
Patio
View-
About this home
Great investment opportunity on a quadruplex in the heart of Los Angeles (Boyle Heights area). There is one building with one unit that has 1bed/1bath and common wall with a studio with full kitchen and full bath. There is a separate detached 2 story building with one 1st floor unit 1bed/1bath and 2nd floor unit 1 bed/1bath. There is also a one detached one car garage with a long driveway. Each unit has its own separate address, and separate meter. Property is located within walking distance of bus stops, schools, stores, and easily accessible to freeways.
Condition Rating
Poor
Built in 1913, this property is over a century old. The images reveal extremely dated kitchens and bathrooms with original or very old cabinets, laminate countertops, basic fixtures, and older white appliances. Flooring consists of worn linoleum/vinyl and older hardwood. The property description and analysis explicitly state a 'Likely Need for Renovation/Modernization' and 'potential for significant maintenance, system updates, and structural concerns.' While functional, it requires substantial rehabilitation and system upgrades to meet current standards and maximize its potential, aligning with the 'Poor' condition criteria.
Pros & Cons
Pros
High-Yield Investment Opportunity: The property is a quadruplex explicitly marketed as a 'Great investment opportunity' in a desirable urban area, offering multiple rental income streams.
Multiple Income Streams: Comprising four distinct units (one 1-bed/1-bath, one studio, and two additional 1-bed/1-bath units), it provides diversified rental income and reduced vacancy risk.
Independent Unit Management: Each unit boasts its own separate address and meter, significantly simplifying utility billing and tenant management for the owner.
Prime Urban Location: Situated in the heart of Los Angeles (Boyle Heights), a vibrant and accessible neighborhood with strong rental demand.
Excellent Walkability & Transit Access: The property is within walking distance of bus stops, schools, and stores, and offers easy access to freeways, enhancing tenant appeal and convenience.
Cons
Advanced Age of Property: Built in 1913, the property is over a century old, suggesting potential for significant maintenance, system updates, and structural concerns.
Likely Need for Renovation/Modernization: The description does not mention recent upgrades, implying the units may be dated and require substantial capital expenditure to maximize rental potential and attract premium tenants.
Small Unit Sizes: The unit mix primarily consists of 1-bedroom and studio configurations, which may limit the tenant demographic or rental income potential compared to properties with larger units.