1849 W Martin Luther King Jr Boulevard, Los Angeles, California 90062, Los Angeles, 90062 - bed, bath

1849 W Martin Luther King Jr Boulevard, Los Angeles, California 90062 home-pic-0
ACTIVE$1,500,000
1849 W Martin Luther King Jr Boulevard, Los Angeles, California 90062
0Bed
0Bath
4,166Sqft
6,938Lot
Year Built
1922
Close
-
List price
$1.5M
Original List price
$1.5M
Price/Sqft
$360
HOA
-
Days on market
-
Sold On
-
MLS number
IN24245110
Home ConditionPoor
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.50M(94th), sqft - 4166(94th), beds - undefined(50th), baths - undefined(50th).

Charming Fourplex Adjacent to Historic Leimert Park This two-story, four-unit apartment building offers excellent investment potential or a perfect opportunity for an owner-user. The property includes: Top Floor: Two spacious 2-bedroom, 1-bath units (one fully rehabbed). Ground Floor: Two cozy 1-bedroom, 1-bath units (one rehabbed). The building exudes character, with lush green landscaping featuring fruit trees in both the front and back yards. At the rear, there are four single-car garages, which can generate additional rental income or be converted into an Accessory Dwelling Unit (ADU). Each unit includes a service porch with washer/dryer hookups and separate gas and electric meters. Key Highlights: Renderings for a potential 836 sq. ft. ADU have been completed. Conveniently located just minutes from Baldwin Hills, Baldwin Hills Crenshaw Plaza, SoFi Stadium, The Forum, LAX, and major freeways (10 & 110). Important Details: The property is being sold as-is. Broker/Agent does not guarantee the accuracy of square footage, lot size, or other information provided by the seller or public records. Buyers should independently verify all information through inspections and appropriate professionals. This rare opportunity in an unbeatable location won’t last!

Price History

Date
Event
Price
03/09/17
Sold
$779,000
02/02/16
Sold
$700,000
04/17/15
Sold
$555,000
Condition Rating
Poor

Built in 1922, this property is over 100 years old and is being sold 'as-is'. While two of the four units have been recently rehabbed with modern kitchens (white shaker cabinets, quartz countertops, stainless steel appliances, subway tile) and updated bathrooms, the other two units are significantly outdated. Their kitchens feature old dark wood cabinets, laminate countertops, dated appliances, and linoleum flooring, while bathrooms have old vanities and dated tile. The overall condition requires substantial repairs and rehabilitation to bring the unrehabbed units and potentially major underlying systems up to modern standards, aligning with the 'poor' classification.
Pros & Cons

Pros

Strong Income Potential: As a fourplex with separate gas and electric meters, individual washer/dryer hookups, and four single-car garages, the property offers multiple avenues for rental income generation and efficient tenant management.
Prime Location: Strategically located adjacent to Historic Leimert Park and minutes from major attractions like SoFi Stadium, The Forum, LAX, and key freeways (10 & 110), ensuring high tenant demand and potential for appreciation.
Significant Value-Add Opportunity: Renderings for an 836 sq. ft. Accessory Dwelling Unit (ADU) have been completed, providing a clear path to substantially increase the property's rental income and overall market value.
Unit Mix and Partial Upgrades: The property features a desirable mix of two 2-bedroom and two 1-bedroom units, with two units already rehabbed, reducing immediate renovation needs for a portion of the property.
Enhanced Tenant Appeal: The building exudes character with lush green landscaping and fruit trees, creating an attractive living environment that can help draw and retain quality tenants.

Cons

As-Is Condition: The property is being sold 'as-is,' indicating that the buyer will be responsible for any necessary repairs or upgrades, which could entail significant unforeseen costs and risks.
Age of Property: Built in 1922, the property is over 100 years old, suggesting potential for aging infrastructure (plumbing, electrical, roof) that may require substantial capital expenditures in the near future, despite some units being rehabbed.
Unrehabbed Units: While two units are rehabbed, the description implies that the other two units may not be, potentially requiring additional investment to bring them to market-ready condition and maximize rental income.

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