1718 S New England Street, Los Angeles, California 90006, Los Angeles, 90006 - bed, bath
ACTIVE$1,199,000
1718 S New England Street, Los Angeles, California 90006
0Bed
0Bath
2,211Sqft
7,939Lot
Year Built
1902
Close
-
List price
$1.2M
Original List price
$1.28M
Price/Sqft
$542
HOA
-
Days on market
-
Sold On
-
MLS number
PW23228656
Home ConditionGood
Features
Patio
ViewNeighborhood
About this home
We found 3 Cons,5 Pros. Rank: price - $1.20M(50th), sqft - 2211(50th), beds - undefined(50th), baths - undefined(50th).
Welcome to 1718 S New England, a renovated fourplex boasting good cash flow, situated in the Pico-Union neighborhood. This property offers the flexibility of arriving fully leased at market rates. This property sits on a spacious LARD1.5 lot spanning 7,937 square feet. Its prime location near USC, Downtown LA, Koreatown, and Echo Park ensures a diverse pool of prospective tenants. The unit configuration comprises two (2) 2-bedroom, 1-bathroom units, along with two (2) 1-bedroom, 1-bathroom units. These units boast numerous updates, such as new stainless steel appliances, laminate flooring, granite countertops, recessed lighting, tankless water heaters, double-paned windows, and recently installed electric panels for units 1722 and 1722 1/2.
Nearby schools
3/10
Magnolia Avenue Elementary School
Public,•K-6•0.1mi
3/10
Leo Politi Elementary School
Public,•K-5•0.6mi
4/10
Norwood Street Elementary School
Public,•K-5•0.7mi
2/10
Tenth Street Elementary School
Public,•K-5•0.9mi
5/10
Vermont Avenue Elementary School
Public,•K-5•0.9mi
/10
Mariposa-Nabi Primary Center
Public,•K-2•1.0mi
8/10
Hoover Street Elementary School
Public,•K-5•1.0mi
3/10
Los Angeles Elementary School
Public,•K-5•1.1mi
3/10
Macarthur Park Elementary School For The Visual And Performing Arts
Public,•K-5•1.1mi
3/10
Rfk Community Schools - Ambassador School - Global Education
Public,•K-5•1.2mi
3/10
Hobart Boulevard Elementary School
Public,•K-5•1.2mi
2/10
Twenty-Fourth Street Elementary School
Public,•K-5•1.4mi
6/10
Carson-Gore Academy Of Enviornmental Studies
Public,•K-5•1.8mi
3/10
Berendo Middle School
Public,•6-8•0.6mi
3/10
John H. Liechty Middle School
Public,•6-8•1.3mi
4/10
John Adams Middle School
Public,•6-8•1.6mi
5/10
Pio Pico Middle School
Public,•6-8•1.7mi
3/10
Johnnie Cochran, Jr., Middle School
Public,•6-8•2.3mi
4/10
West Adams Preparatory High School
Public,•9-12•0.2mi
3/10
Rfk Community Schools-Ambassador-Global Leadership
Public,•6-12•1.3mi
4/10
Rfk Community Schools-Los Angeles High School Of The Arts
Public,•9-12•1.3mi
5/10
Rfk Community Schools- For The Visual Arts And Humanities
Public,•9-12•1.3mi
5/10
Santee Education Complex
Public,•9-12•1.7mi
3/10
Belmont Senior High School
Public,•9-12•1.9mi
5/10
Foshay Learning Center
Public,•K-12•2.0mi
3/10
Nava College Preparatory Academy
Public,•9-12•3.1mi
Price History
Date
Event
Price
04/09/21
Sold
$1,175,000
10/25/17
Sold
$530,000
Condition Rating
Good
Despite being built in 1902, this fourplex has undergone extensive and recent renovations, bringing it to a 'good' condition. The description highlights 'numerous updates' including new stainless steel appliances, granite countertops, laminate flooring, recessed lighting, tankless water heaters, double-paned windows, and recently installed electric panels. These significant upgrades address major systems and aesthetic elements, making the units move-in ready with modern features. While not a new build, the comprehensive nature of these updates ensures functionality and appeal, aligning with the 'Good' criteria for properties extensively renovated within the last 5-15 years.
Pros & Cons
Pros
Strong Income Potential: As a renovated fourplex, the property boasts good cash flow and the flexibility of being fully leased at market rates, offering immediate returns for an investor.
Strategic Location: Its prime location near USC, Downtown LA, Koreatown, and Echo Park ensures a diverse and consistent pool of prospective tenants, driving high occupancy.
Extensive Modern Renovations: Units feature numerous updates including new stainless steel appliances, laminate flooring, granite countertops, recessed lighting, tankless water heaters, double-paned windows, and updated electrical panels, minimizing immediate capital expenditures.
Development Upside (LARD1.5 Lot): Sitting on a spacious 7,937 square foot LARD1.5 zoned lot, there's significant potential for future expansion, additional dwelling units (ADUs), or increased density, adding long-term value.
Diverse Unit Configuration: The mix of two 2-bedroom and two 1-bedroom units caters to a broader range of tenant needs and budgets, enhancing rental stability and market appeal.
Cons
Historic Property Age: Built in 1902, despite renovations, the underlying infrastructure of an older building may present unforeseen maintenance challenges or require more extensive upkeep over time.
Neighborhood Perception: While centrally located, the Pico-Union neighborhood may carry a different market perception compared to more established or rapidly gentrifying areas, potentially influencing tenant quality or long-term appreciation rates.
Recent Price Reduction: The property has undergone a price reduction from its original list, which could indicate initial overpricing or a lack of strong buyer interest, suggesting potential market resistance.