1715 E 70th, Los Angeles, California 90001, Los Angeles, 90001 - bed, bath
ACTIVE$995,000
1715 E 70th, Los Angeles, California 90001
0Bed
0Bath
2Sqft
6,660Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Income-Generating Triplex: The property is a triplex, offering immediate multiple streams of rental income, making it an attractive investment opportunity.
Top Cons:
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 2, other record living area = 2103.
Compared to the nearby listings
Price:$995.0K vs avg $714.0K (+$281,000)93%
Size:2 sqft vs avg 1,260 sqft14%
Price/sqft:$497.5K vs avg $50186%
More Insights
Built in 1910 (115 years old).
Condition: Built in 1910, this triplex has undergone updates as stated in the description, which are evident in some areas. One kitchen features modern shaker cabinets, subway tile backsplash, stainless steel appliances, and recessed lighting. However, the other kitchen and both bathrooms, while clean and functional, exhibit dated finishes, including older tile, basic fixtures, and less contemporary cabinetry. The consistent tile flooring throughout the units also appears dated. The exterior shows its age but seems maintained. Overall, the property is livable and maintained but requires minor updates to achieve a more consistent and modern aesthetic across all units, aligning with the 'fair' condition criteria for an aged property with occasional updates.
Year Built
1910
Close
-
List price
$995K
Original List price
$995K
Price/Sqft
$497,500
HOA
-
Days on market
-
Sold On
-
MLS number
CV25243431
Home ConditionFair
Features
Patio
View-
About this home
Excellent opportunity to own this great triplex in the heart of Los Angeles. Property features 3 units, 1. 2 bedroom 1 bath, 2. 2 bedroom 2 bath and 3.1 bedroom 1 bath. Units have been updated. Live in one and rent the other 2 units. Each unit with a 2 car garage, one can easily be converted into an ADU for additional income. Conviently located near schools, shopping and transportation.
Condition Rating
Fair
Built in 1910, this triplex has undergone updates as stated in the description, which are evident in some areas. One kitchen features modern shaker cabinets, subway tile backsplash, stainless steel appliances, and recessed lighting. However, the other kitchen and both bathrooms, while clean and functional, exhibit dated finishes, including older tile, basic fixtures, and less contemporary cabinetry. The consistent tile flooring throughout the units also appears dated. The exterior shows its age but seems maintained. Overall, the property is livable and maintained but requires minor updates to achieve a more consistent and modern aesthetic across all units, aligning with the 'fair' condition criteria for an aged property with occasional updates.
Pros & Cons
Pros
Income-Generating Triplex: The property is a triplex, offering immediate multiple streams of rental income, making it an attractive investment opportunity.
ADU Conversion Potential: Each unit includes a 2-car garage, presenting a significant value-add opportunity through the potential conversion of one or more garages into Accessory Dwelling Units (ADUs) for additional income.
Updated Units: The units have been updated, which can reduce immediate renovation costs and attract quality tenants, contributing to higher rental yields.
Owner-Occupant Investment: The configuration allows for an owner to live in one unit while renting out the other two, providing a practical way to offset mortgage payments and build equity.
Prime Los Angeles Location: Conveniently located in the 'heart of Los Angeles' with easy access to schools, shopping, and transportation, enhancing its appeal to potential renters.
Cons
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 2, other record living area = 2103.
Age of Property: Built in 1910, the property is over a century old, which may indicate potential for aging infrastructure (plumbing, electrical, roof) and higher long-term maintenance costs despite recent updates.
Potential for High Maintenance: As an older multi-unit property, it may require more frequent and costly maintenance and repairs compared to newer constructions, impacting net operating income.
Data Discrepancy (Sqft): The listed square footage of '2' is clearly a data entry error, which could lead to confusion or misrepresentation and may require clarification for accurate appraisal and buyer assessment.