1825 E 3rd Street, Los Angeles, California 90033, Los Angeles, 90033 - bed, bath
ACTIVE$940,000
1825 E 3rd Street, Los Angeles, California 90033
0Bed
0Bath
2,096Sqft
3,944Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Investment Opportunity: This quadruplex offers a significant investment opportunity in a strong rental market with explicit upside rental potential, ideal for income generation.
Top Cons:
Property Age & Potential Maintenance: Built in 1923, the property is over a century old, suggesting potential for significant deferred maintenance, outdated systems, and higher capital expenditure requirements.
Compared to the nearby listings
Price:$940.0K vs avg $740.0K (+$200,000)69%
Size:2,096 sqft vs avg 2,092 sqft50%
Price/sqft:$448 vs avg $37969%
More Insights
Built in 1923 (102 years old).
Condition: Built in 1923, this property is over a century old. The listing description and provided images lack any interior photos, particularly of kitchens and bathrooms, which are critical for assessing condition. The property analysis explicitly notes 'potential for significant deferred maintenance, outdated systems, and higher capital expenditure requirements.' This strongly suggests the property requires substantial repairs and rehabilitation, aligning with a 'poor' condition score, as major components are likely outdated and in need of significant upgrades or replacement.
Year Built
1923
Close
-
List price
$940K
Original List price
$1.05M
Price/Sqft
$448
HOA
-
Days on market
-
Sold On
-
MLS number
SB24222345
Home ConditionPoor
Features
Patio
View-
About this home
Great investment opportunity by owning this four unit property located in Boyle Heights, a vibrant and culturally diverse neighborhood known for its rich history in the heart of Los Angeles. Boyle Heights is a quickly growing neighborhood in Los Angeles adjacent to Downtown Los Angeles. Many new multi-use developments currently underway. Each unit is a 1bed/1bath with living room and laundry area . Each unit has its own separate address, and separate meter for gas & power. A lot of opportunities to grow your income with upside rental potentials in this strong rental market.The owner is responsible for water. Property is located within walking distance to bus stops, schools, stores, hospitals and easily accessible to freeways.
Price History
Date
Event
Price
06/27/18
Sold
$562,500
Condition Rating
Poor
Built in 1923, this property is over a century old. The listing description and provided images lack any interior photos, particularly of kitchens and bathrooms, which are critical for assessing condition. The property analysis explicitly notes 'potential for significant deferred maintenance, outdated systems, and higher capital expenditure requirements.' This strongly suggests the property requires substantial repairs and rehabilitation, aligning with a 'poor' condition score, as major components are likely outdated and in need of significant upgrades or replacement.
Pros & Cons
Pros
Investment Opportunity: This quadruplex offers a significant investment opportunity in a strong rental market with explicit upside rental potential, ideal for income generation.
Prime Location & Growth: Located in Boyle Heights, a vibrant and rapidly growing neighborhood adjacent to Downtown Los Angeles, with many new multi-use developments underway, promising future appreciation.
Independent Utilities: Each of the four units features its own separate address and individual meters for gas and power, simplifying tenant billing and reducing landlord utility management.
Excellent Accessibility: The property boasts high walkability, being within walking distance to bus stops, schools, stores, and hospitals, and offers easy access to major freeways, appealing to a broad tenant base.
Tenant-Friendly Amenities: Each 1-bedroom, 1-bathroom unit includes a dedicated living room and a laundry area, providing desirable conveniences for tenants.
Cons
Property Age & Potential Maintenance: Built in 1923, the property is over a century old, suggesting potential for significant deferred maintenance, outdated systems, and higher capital expenditure requirements.
Owner Responsible for Water: The owner is responsible for water costs across all four units, representing a substantial ongoing operational expense that cannot be directly passed to tenants.
Recent Price Reductions: Multiple price drops from the original list price of $1.05M to $940K indicate potential overpricing or challenges in attracting buyers at previous price points, possibly signaling market resistance.