
Los Angeles, California 90006
This historic 4-unit Residential Income property presents a Strong Value Opportunity, listed at $1,400,000—positioned well below the $1,478,141 Fair Market Value by 5%. This valuation gap offers $78,141 in Instant Equity. With a Fair Condition Rating and Mills Act eligibility, this asset provides significant tax savings and rental upside. Its central location and large unit mix cater to high demand. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking long-term appreciation.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1867 W 11th Subject 0 bd · 0 ba · 6,630 sqft · $223 | $1,400,000* List Price | 0 | 0 | 6,630 | $223 | - |
A 1230 S Bonnie Brae Active 0 bd · 0 ba · 5,426 sqft · $193 · 0.2 mi | $1,049,000 List Price | 0 | 0 | 5,426 | $193 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1905, this historic 4-unit property is described as well-maintained but lacks mention of a recent comprehensive renovation. Given its age of over 100 years and the 'well-maintained' yet likely dated status of kitchens and systems, it fits the Fair category as it remains functional but likely requires minor repairs or cosmetic updates to meet modern luxury standards.
The property is eligible for the Mills Act Historical Property Contract, offering potential annual property tax savings of 40% to 60%, which significantly enhances the investment's net operating income.
With over 6,600 square feet of living space, the building features unusually large 3 and 4-bedroom units with additional dens, providing high rental capacity and rare flexibility for owner-users.
Situated at the crossroads of Koreatown and Downtown LA, the property offers a high-demand '5-minute lifestyle' near major employment hubs and cultural centers, ensuring strong tenant appeal.
Being located in an HPOZ (Historic Preservation Overlay Zone) means any exterior renovations or maintenance must adhere to strict city guidelines, which can increase costs and complicate property upgrades.
The majority of the assigned public schools for this address have low ratings (averaging 3/10), which may deter families and impact the long-term appreciation potential compared to other neighborhoods.
**POTENTIAL PROPERTY TAX SAVINGS — MILLS ACT PROGRAM** ZONED HPOZ This historic property may qualify for the City of Los Angeles Mills Act Historical Property Contract Program, which can provide eligible property owners with potential annual property tax savings of approximately 40% to 60%. The program is designed to encourage the preservation, rehabilitation, and maintenance of historic properties. Eligibility and actual tax savings are subject to City approval, property qualifications, and applicable program requirements. Charming 4-unit Victorian income property offering timeless architectural character and exceptional investment potential. The property features an attractive unit mix with two 2-bedroom, 1-bathroom units and one 3-bedroom, 3-bathroom unit, and one 4-bedroom, 3-bathroom unit. These units are all spacious and include an additional den, often used by tenants as an additional bedroom, providing added flexibility and enhanced rental value. True to its architectural design, the building showcases classic details such as a wood exterior and graceful architectural accents. The units offer functional layouts filled with natural light, creating comfortable and desirable living spaces. Each unit comes with its own washer and dryer hookups. As a four-unit residential property, this is an ideal opportunity for an owner-user to occupy one unit while generating income from the remaining units, potentially covering most, if not all, of the holding costs. Well-maintained, this property presents a rare blend of character, lifestyle, long-term income, and appreciation. As far as location, this property sits at the ultimate crossroads of Los Angeles, offering a rare "5-minute lifestyle" where the best of Koreatown, Larchmont Village, and Downtown LA are all within a 7 min drive. Whether you're looking for world-class dining in Koreatown, local farmers' markets in Silver Lake, or a night out at iconic music and sports venues in Downtown LA, this central hub places the city's most vibrant cultural and culinary scenes right at your doorstep, making it highly desirable and attractive for tenants. Welcome to these charming Craftsman-style units offering over 6,600 square feet of total living space. The property consists of two separate buildings, and all four units are equipped with 4-separate water meters; tenants pay their own utilities, including water. Submit, Submit, Submit.
No exterior & parking available.
Grades K-5 • 0.4 mi
Grades K-5 • 0.4 mi
Grades K-5 • 0.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.5 |
| Baths | 0.0 | 2.9 |
| Square foot | 6,630 | 2,090.331 |
| Lot Size | 6,127 | 5,852.908 |
| Price | $1.40M | $830.9K |
| Price per sq ft | $211 | $394 |
| Built year | 1905 | 1928 |
| HOA | $0 | $0 |
| Days on market | 26 | 87 |
Oct 14, 2026
$1,400,000
Initial Listing