156 S Clarence Street, Los Angeles, California 90033, Los Angeles, 90033 - bed, bath
ACTIVE$745,000
156 S Clarence Street, Los Angeles, California 90033
0Bed
0Bath
1,841Sqft
4,374Lot
Year Built
1905
Close
-
List price
$745K
Original List price
$745K
Price/Sqft
$405
HOA
-
Days on market
-
Sold On
-
MLS number
MB25133094
Home ConditionPoor
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $745.0K(50th), sqft - 1841(44th), beds - undefined(50th), baths - undefined(50th).
Great investment opportunity! Two separate houses on one lot. Each house has 3 bedrooms and 1 bathroom. Clean and well maintained. This property is great for an owner that wants to live in one house and rent the other to help pay for the mortgage, or for an investor who wants to rent out both units. Separately metered for gas and electricity. Located close to downtown LA, shopping, schools and public transportation. You must see it to appreciate it.
Condition Rating
Poor
Built in 1905, this property is over a century old. While the description states 'clean and well maintained,' the images reveal a very dated interior. The kitchen features older white appliances, basic white cabinets, and laminate countertops, suggesting it hasn't been updated in 30-50+ years. Bathrooms have older square tile flooring and dated sliding shower doors. Flooring throughout is a mix of older patterned carpet, basic newer carpet, and some LVP, indicating piecemeal, budget-friendly updates rather than a comprehensive renovation. The exposed beams and cluttered nature of the basement/crawlspace (Image 5) raise concerns about the condition of major structural components and systems. Overall, the property requires substantial repairs and rehabilitation to meet modern living standards and ensure the reliability of its aged systems.
Pros & Cons
Pros
Dual Income Opportunity: The property features two separate houses on one lot, offering excellent income potential for investors or owner-occupants seeking mortgage assistance.
Separately Metered Utilities: Gas and electricity are separately metered for each unit, simplifying tenant billing and reducing landlord utility management.
Strategic Urban Location: Its proximity to Downtown LA, shopping, schools, and public transportation enhances rental demand and potential for property appreciation.
Well-Maintained Condition: Described as 'clean and well maintained,' suggesting a lower immediate maintenance burden for a new owner.
Flexible Ownership Model: The setup is ideal for both owner-occupants looking to offset their mortgage and pure investors maximizing rental returns from two units.
Cons
Historic Property Age: Built in 1905, the property may have inherent challenges related to older infrastructure and potential for higher maintenance costs over time.
Limited Bathroom Configuration: Each 3-bedroom unit features only one bathroom, which could be a functional constraint for larger households or multiple occupants.
Compact Unit Footprint: The total square footage of 1841 sqft for two 3-bedroom units implies relatively small living spaces, which might not appeal to all prospective tenants.