1723 7th Street, Los Angeles, California 90057, Los Angeles, 90057 - bed, bath
ACTIVE$3,975,000$30,319/sqft
1723 7th Street, Los Angeles, California 90057
0Bed
0Bath
30,319Sqft
22,530Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Exceptional Value Proposition: The property is offered at highly competitive pricing metrics of $124k/unit and $131/sqft, significantly below typical market rates for a mixed-use asset of this scale in Los Angeles, indicating strong potential for equity growth.
Top Cons:
Advanced Age of Property: Built in 1913, the building is over a century old, which likely implies significant deferred maintenance, outdated infrastructure (plumbing, electrical), and potential for costly capital expenditures and repairs.
Compared to the nearby listings
Compared against 0 nearby listings
More Insights
Built in 1913 (113 years old).
Condition: Built in 1913, this property is over a century old. The residential units, as depicted in the images, show significant signs of deferred maintenance and outdated infrastructure. Kitchens feature very basic, worn laminate cabinets and countertops, old appliances, and in some cases, severe wall cracking and peeling paint. Flooring is a mix of worn parquet and old tiles. Visible exposed wiring and old ceiling fans suggest outdated electrical systems and a lack of modern amenities like central cooling. While the retail spaces appear more functional, the residential units require substantial repairs and rehabilitation to meet current living standards, aligning with the 'poor' condition criteria.
Year Built
1913
Close
-
List price
$3.98M
Original List price
$3.98M
Price/Sqft
$131
HOA
-
Days on market
-
Sold On
-
MLS number
SB26007615
Home ConditionPoor
Features
Good View:
View-
About this home
1723 7th St is a 32-unit mixed use building located in the Pico Union neighborhood. This massive 30,319 sqft building is offered at only $124k/unit and $131/sqft. The property is currently operating at a 7.22% CAP and 7.67GRM. There is still over 51%+ upside available once the property is stabilized. The property is individually metered for gas and electric. The building is comprised of (26) apartment units and (6) Retail Spaces - consistent of (13) 1-Bed+1-Bath, (13) Studio+1Bath. Currently (2) studio/1-bath units are being delivered vacant, offering immediate upside in rental income. 694 S Burlington Ave is conveniently located just minutes from Downtown Los Angeles, with easy access to the 10 and 110 freeways. There are many shops, restaurants and amenities nearby, making this an ideal location for renters.
C
Cameron Samimi
Listing Agent
Condition Rating
Poor
Built in 1913, this property is over a century old. The residential units, as depicted in the images, show significant signs of deferred maintenance and outdated infrastructure. Kitchens feature very basic, worn laminate cabinets and countertops, old appliances, and in some cases, severe wall cracking and peeling paint. Flooring is a mix of worn parquet and old tiles. Visible exposed wiring and old ceiling fans suggest outdated electrical systems and a lack of modern amenities like central cooling. While the retail spaces appear more functional, the residential units require substantial repairs and rehabilitation to meet current living standards, aligning with the 'poor' condition criteria.
Pros & Cons
Pros
Exceptional Value Proposition: The property is offered at highly competitive pricing metrics of $124k/unit and $131/sqft, significantly below typical market rates for a mixed-use asset of this scale in Los Angeles, indicating strong potential for equity growth.
Significant Value-Add Potential: With over 51%+ upside available upon stabilization and two vacant units ready for immediate re-leasing, there's a clear and substantial opportunity to increase rental income and overall property value.
Robust Current Cash Flow: The property boasts a strong current CAP rate of 7.22% and a 7.67 GRM, providing immediate positive cash flow and a solid return on investment from day one.
Strategic Mixed-Use Diversification: Comprising 26 apartment units and 6 retail spaces, the property offers diversified income streams, reducing risk and appealing to a broader tenant base across residential and commercial sectors.
Prime & Accessible Location: Conveniently located in Pico Union, just minutes from Downtown Los Angeles with easy access to the 10 and 110 freeways and numerous nearby amenities, ensuring high tenant demand and desirability.
Cons
Advanced Age of Property: Built in 1913, the building is over a century old, which likely implies significant deferred maintenance, outdated infrastructure (plumbing, electrical), and potential for costly capital expenditures and repairs.
Operational Demands for Stabilization: Realizing the advertised 51%+ upside requires active management, potential renovations, and strategic leasing efforts, demanding substantial time, capital, and expertise from the investor to achieve full potential.
Regulatory Environment & Rent Control: As an older multi-unit property in Los Angeles, it is highly susceptible to stringent rent control ordinances and tenant protection laws, which can limit future rent growth and complicate tenant management.