1735 7th Street, Los Angeles, California 90057, Los Angeles, 90057 - bed, bath
ACTIVE$4,300,000
1735 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:
Significant Value-Add Potential: The property offers 'over 51% upside available once the property is stabilized,' indicating substantial future income and equity growth potential for an investor.
Top Cons:
Advanced Age of Building: Built in 1913, the property is over a century old, which typically implies a need for significant capital expenditures for system upgrades, structural maintenance, and modernization to remain competitive and achieve stabilization.
Compared to the nearby listings
Compared against 0 nearby listings
More Insights
Built in 1913 (112 years old).
Condition: The property was built in 1913, making it over 100 years old. The interior images of the residential units show significant signs of disrepair, including peeling paint, stained walls and ceilings, heavily worn flooring (parquet/linoleum), and outdated fixtures. There are no images of kitchens or bathrooms, but based on the visible condition of other interior spaces, it's highly probable they are also in very poor and outdated condition. The presence of window AC units indicates a lack of modern cooling systems. The overall condition suggests substantial repairs and rehabilitation are required, aligning with the 'poor' category criteria.
Year Built
1913
Close
-
List price
$4.3M
Original List price
$4.3M
Price/Sqft
$142
HOA
-
Days on market
-
Sold On
-
MLS number
SB25193453
Home ConditionPoor
Features
Good View:
View-
About this home
1735 7th St // 694 S Burlington Ave is a 32-unit mixed use building located in the Pico Union neighborhood. This massive 30,319 sqft building is offered at only $134k/unit and $141/sqft. The property is currently operating at a 6.68% CAP and 8.30 GRM. There is still over 51% upside available once the property is stabilized. The property is individually metered for gas and electricity. The building is comprised of (26) apartment units and (6) Retail Spaces - consistent of (13) 1Bed+1Bath, (13) Studio+1Bath. Currently (2) studio/1-bath units are 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.
Condition Rating
Poor
The property was built in 1913, making it over 100 years old. The interior images of the residential units show significant signs of disrepair, including peeling paint, stained walls and ceilings, heavily worn flooring (parquet/linoleum), and outdated fixtures. There are no images of kitchens or bathrooms, but based on the visible condition of other interior spaces, it's highly probable they are also in very poor and outdated condition. The presence of window AC units indicates a lack of modern cooling systems. The overall condition suggests substantial repairs and rehabilitation are required, aligning with the 'poor' category criteria.
Pros & Cons
Pros
Significant Value-Add Potential: The property offers 'over 51% upside available once the property is stabilized,' indicating substantial future income and equity growth potential for an investor.
Attractive Per-Unit & Per-Square-Foot Pricing: Listed at '$134k/unit and $141/sqft,' the pricing is highly competitive for a 32-unit mixed-use asset in Los Angeles, suggesting strong investment value.
Diversified Mixed-Use Income: Comprising 26 apartment units and 6 retail spaces, the property benefits from diversified income streams, reducing risk and enhancing stability.
Prime Urban Location with Accessibility: Situated minutes from Downtown Los Angeles with easy access to major freeways (10 and 110) and surrounded by amenities, making it highly desirable for both residential and commercial tenants.
Immediate Lease-Up Opportunity: With two vacant studio units, there's an immediate opportunity to increase rental income and improve occupancy without extensive renovations.
Cons
Advanced Age of Building: Built in 1913, the property is over a century old, which typically implies a need for significant capital expenditures for system upgrades, structural maintenance, and modernization to remain competitive and achieve stabilization.
Requires Active Management for Stabilization: Realizing the '51% upside' necessitates active management, including lease-up of vacant units, potential rent increases, and possibly extensive renovations, making it less suitable for passive investors.
Limited Residential Unit Diversity: The residential units are exclusively 1-bedroom and studio apartments, which may limit the tenant demographic and potential for higher per-unit rents compared to properties with a broader mix of unit sizes.