1528 N Alexandria, Los Angeles, California 90027, Los Angeles, 90027 - 11 bed, 7 bath

1528 N Alexandria, Los Angeles, California 90027 home-pic-0
ACTIVE$1,799,999
1528 N Alexandria, Los Angeles, California 90027
11Beds
7Baths
4,130Sqft
6,834Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Prime Location: Strategically located in the highly desirable Los Feliz neighborhood (90027), offering central access to major hospitals, Griffith Park, Hollywood, and Glendale, enhancing its appeal for both residents and tenants.
Top Cons:
Age of Property: Built in 1912, despite recent remodels, the property's age may present potential for unforeseen maintenance issues related to older infrastructure or systems that could require future investment.

Compared to the nearby listings

Price:$1.80M vs avg $1.23M (+$574,999)86%
Size:4,130 sqft vs avg 1,715 sqft86%
Price/sqft:$436 vs avg $64414%

More Insights

Built in 1912 (113 years old).
Condition: Despite being built in 1912, the property has undergone recent cosmetic remodels, including fresh paint, updated light wood-look laminate flooring throughout, and updated kitchens and bathrooms. The kitchens feature white shaker cabinets and dark laminate countertops, while bathrooms have new vanities, toilets, and clean shower/tub surrounds. The property is move-in ready with no immediate renovations required. However, the updates are functional and clean rather than high-end or luxurious, with basic light fixtures and visible wall-mounted AC units, preventing an 'Excellent' rating. The overall condition reflects a well-maintained property with recent, practical updates.
Year Built
1912
Close
-
List price
$1.8M
Original List price
$1.9M
Price/Sqft
$436
HOA
-
Days on market
-
Sold On
-
MLS number
SR25241573
Home ConditionGood
Features
View-

About this home

**HUGE INCOME EARNING POTENTIAL** The front house has a basement which roughly measures about 1,600 sq ft that has the potential for an additional ADU (buyer to verify) which could generate additional income OR it could become an extension/basement for the front house. You have multiple options! Discover this beautifully remodeled quadplex located in one of Los Angeles’ most desirable neighborhoods — the heart of Los Feliz (90027). This versatile property offers a perfect blend of owner-user and investment opportunity with a vacant front home ready for immediate occupancy and three income-producing rear units. The front house features 5 spacious bedrooms, 1.5 baths, fresh paint, updated flooring, a laundry room, and recent roof repairs — a move-in ready home ideal for an owner-occupant or high-demand rental. The rear units are fully occupied, with each unit offering 2 bedrooms, 1 bath (1 unit), and 2 bedrooms, 2 baths (2 units) with modern updates and stable paying tenants. Location, location, location: This property is centrally located and within distance to Kaiser and Children's Hospital, Los Feliz, Griffith Park, Hollywood, and Glendale. Tenants pay all utilities, with water billed via RUBS, keeping operating costs efficient. Executed leases and estoppels are available for review. Pro-Forma Rent Roll: $12,380 Current rents with front vacant house: $6,090 Vacant Unit Market Rent: $4,595 *Disclaimer: Buyer and buyer’s agent are strongly advised to conduct their own independent investigation and due diligence to verify the accuracy of all property information, including but not limited to building records, permits, square footage, lot size, and bedroom/bathroom counts. Seller and listing broker make no representations or warranties, expressed or implied, as to the accuracy or completeness of any information provided and shall not be held liable for any misstatement, omission, or misinterpretation of facts*

Price History

Date
Event
Price
07/11/24
Sold
$992,500
04/22/03
Sold
$375,000
Condition Rating
Good

Despite being built in 1912, the property has undergone recent cosmetic remodels, including fresh paint, updated light wood-look laminate flooring throughout, and updated kitchens and bathrooms. The kitchens feature white shaker cabinets and dark laminate countertops, while bathrooms have new vanities, toilets, and clean shower/tub surrounds. The property is move-in ready with no immediate renovations required. However, the updates are functional and clean rather than high-end or luxurious, with basic light fixtures and visible wall-mounted AC units, preventing an 'Excellent' rating. The overall condition reflects a well-maintained property with recent, practical updates.
Pros & Cons

Pros

Prime Location: Strategically located in the highly desirable Los Feliz neighborhood (90027), offering central access to major hospitals, Griffith Park, Hollywood, and Glendale, enhancing its appeal for both residents and tenants.
Significant Income Potential & Versatility: A quadplex offering a blend of owner-user and investment opportunity with a vacant, move-in ready front unit and three fully occupied, income-producing rear units with stable tenants, boasting a pro-forma rent roll of $12,380.
ADU Development Potential: The front house features a 1,600 sq ft basement with potential for an additional Accessory Dwelling Unit (ADU), offering a significant opportunity to increase income or expand living space (buyer to verify).
Remodeled & Ready Front Unit: The front house has been beautifully remodeled with fresh paint, updated flooring, a laundry room, and recent roof repairs, making it immediately attractive for an owner-occupant or high-demand rental.
Efficient Operating Costs: Tenants are responsible for all utilities, with water billed via RUBS, which significantly reduces the owner's operating expenses and improves net income.

Cons

Age of Property: Built in 1912, despite recent remodels, the property's age may present potential for unforeseen maintenance issues related to older infrastructure or systems that could require future investment.
Extensive Buyer Due Diligence Required: The listing explicitly advises buyers to conduct independent investigations to verify all property information, suggesting potential discrepancies or unknowns that could lead to unexpected costs or complications.
Recent Price Reduction: The property has undergone a recent price reduction from $1.89M to $1.79M, which could indicate initial overpricing or a slower market response, potentially affecting perceived value or negotiation leverage.

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