1565 W 51st, Los Angeles, California 90062, Los Angeles, 90062 - 0 bed, 0 bath
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Los Angeles, California 90062
This Value-Add Multifamily Quadruplex represents a Prime Investment Opportunity, listed at $1,025,000—positioned well below the $1,067,013 Fair Market Value by 3%. This valuation gap provides $42,013 in Instant Equity for buyers. While the property holds a Fair Condition Rating reflecting its 1923 origins, the expansive 13,504 SF LAR2 lot with alley access and ten on-site parking spaces offers significant upside for ADU development or repositioning. With four separate structures providing tenant privacy, this asset is a strategic acquisition for Buy-and-Hold Investors or Owner-Users seeking a high-density house-hack.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1565 W 51st Subject | $1,025,000* List Price | 0 | 0 | 3,338 | $320 | - |
A 1840 W 47th Street Sold | $1,150,000 | 6 | 4 | 3,136 | $367 | 0.5 mi |
B 1424 W 49th Street Sold | $853,000 | 0 | 0 | 2,682 | $318 | 0.3 mi |
C 5700 Cimarron St Sold | $862,500 | 6 | 3 | 2,614 | $330 | 0.7 mi |
D 4284 La Salle Sold | $800,000 | 4 | 2 | 2,119 | $378 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1923, this four-unit property is functional and currently occupied, but shows clear signs of aging infrastructure consistent with its century-old origin. The absence of interior photos suggests that the kitchens and bathrooms are likely outdated and have not undergone recent high-end renovations. Exterior observations show window AC units, older roofing, and deferred cosmetic maintenance, placing it firmly in the 'fair' category as a property that is livable but requires modernization and minor repairs.
The expansive 13,504 SF LAR2 lot with alley access offers significant potential for ADU additions or future repositioning in a high-demand Los Angeles submarket.
With approximately ten on-site parking spaces and a long driveway, the property provides a rare and highly valuable amenity for a multi-unit complex in this area.
The improvements are spread across four separate structures, offering tenants increased privacy and a flexible layout that currently maximizes rental capacity beyond public records.
Originally constructed in 1923, the property may require substantial capital improvements and ongoing maintenance to modernize century-old systems.
Because water is master-metered, the owner is responsible for the utility costs of all four units, which can fluctuate and reduce overall net operating income.
1565 W 51st Street is a four-unit multifamily property situated on a ±13,504 SF LAR2 lot. The property consists of two (2) two-bedroom/one-bathroom units and two (2) one-bedroom/one-bathroom units per public record. The improvements are spread across four separate structures. All units are currently configured and operating as two-bedroom layouts, including a front unit featuring a two-bedroom plus den layout, with the den currently utilized as a third bedroom. The building totals approximately ±3,626 square feet and was originally constructed in 1922. The property features a long driveway with access from the street to the rear, along with alley access, and provides approximately ten (10) on-site parking spaces. Water is master-metered; gas and electricity are separately metered. The current configuration and layout provide flexibility for both investors and potential owner-users, with income in place and multiple paths to reposition or occupy over time.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 3,338 | 2,484 | 91% |
| Lot Size | 13,505 | 5,758 | 95% |
| Price | $1.02M | $904.9K | 68% |
| Price per sq ft | $307 | $361 | 32% |
| Built year | 1923 | 1923 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 6 | 225 | 5% |
Apr 16, 2026
$1,025,000
Initial Listing
Oct 31, 2012
$330,000
Public Record
May 26, 2011
$295,000
Public Record
Dec 2, 2004
$475,000
Public Record