1744 W 23rd Street, Los Angeles, California 90018, Los Angeles, 90018 - 6 bed, 4 bath
ACTIVE$1,100,000
1744 W 23rd Street, Los Angeles, California 90018
6Beds
4Baths
3,028Sqft
6,759Lot
Year Built
1963
Close
-
List price
$1.1M
Original List price
$1.1M
Price/Sqft
$363
HOA
-
Days on market
-
Sold On
-
MLS number
SR25020204
Home ConditionPoor
Features
Good View: City Lights
ViewCity Lights
About this home
We found 3 Cons,5 Pros. Rank: price - $1.10M(62th), sqft - 3028(77th), beds - 6(85th), baths - 4(92th).
Great Opportunity! In high rental demand neighborhood. Close to USC, THE CRYPTO.COM ARENA and Korea Town. Total of 3 investment units. Front unit 3 bedrooms, 1.5 bathrooms, living and dining rooms. 2 rear bi-level units. Each unit has 1 bedroom and restroom and shower.
Nearby schools
2/10
Twenty-Fourth Street Elementary School
Public,•K-5•0.5mi
5/10
Vermont Avenue Elementary School
Public,•K-5•0.6mi
2/10
John W. Mack Elementary School
Public,•K-5•0.8mi
4/10
Birdielee V. Bright Elementary School
Public,•K-5•1.0mi
3/10
Johnnie Cochran, Jr., Middle School
Public,•6-8•1.6mi
4/10
John Adams Middle School
Public,•6-8•1.9mi
4/10
West Adams Preparatory High School
Public,•9-12•0.8mi
5/10
Foshay Learning Center
Public,•K-12•1.2mi
3/10
Manual Arts Senior High School
Public,•9-12•1.9mi
Price History
Date
Event
Price
08/17/18
Sold
$1,000,000
06/16/17
Sold
$812,000
07/03/13
Sold
$512,000
02/06/13
Sold
$327,500
05/12/04
Sold
$484,000
10/01/93
Sold
$200,000
Condition Rating
Poor
Built in 1963, this property is over 60 years old. The provided image of the kitchen clearly shows severely outdated cabinets, worn laminate countertops, older white appliances, and dated linoleum/vinyl flooring. This suggests the kitchen, and likely the bathrooms and other major systems, have not been significantly updated in 30-50+ years. The property analysis also indicates a need for updates to major systems (plumbing, electrical) and general modernization, aligning with the 'poor' condition criteria of requiring substantial repairs and rehabilitation.
Pros & Cons
Pros
Strong Income Potential: A triplex configuration in a high rental demand neighborhood, ideal for investors seeking consistent rental income.
Strategic Location: Proximity to major demand drivers like USC, Crypto.com Arena, and Koreatown ensures a steady pool of potential tenants and strong property value.
Desirable City Views: The property offers city lights views, a premium amenity in Los Angeles that enhances tenant appeal and property value.
Historical Value Appreciation: The sales history demonstrates significant and consistent property value growth over time, indicating a robust investment.
Flexible Unit Configuration: Comprising a 3-bed/1.5-bath unit and two 1-bed/1-bath bi-level units, offering versatility to attract diverse tenant demographics.
Cons
Property Age and Condition: Built in 1963, the property is over 60 years old, likely necessitating updates to major systems (plumbing, electrical) and general modernization to meet current market expectations.
Undisclosed Renovation Status: The listing lacks details on recent renovations, suggesting potential for substantial capital expenditure required for cosmetic and functional upgrades to maximize rental income and tenant appeal.
Potential Operational Unknowns: As an older multi-unit property in a dense urban setting, specifics regarding parking availability and individual utility metering are not provided, which could present operational challenges or additional costs for a new owner.