1930 Blake Avenue, Los Angeles, California 90039, Los Angeles, 90039 - 4 bed, 3 bath
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Los Angeles, California 90039
This Value-Add Residential Income Triplex represents a High-Potential Investment Opportunity in the trendy Elysian Valley neighborhood, listed at $1,050,000—aligning with its $1,050,000 Fair Market Value. Currently holding a Condition Rating of 5, the property requires a comprehensive renovation to modernize its 1920s infrastructure and three distinct units. Situated steps from the LA River bike path and near top-rated schools like Allesandro Elementary, the asset offers significant forced appreciation and long-term rental growth. This rare acquisition is ideal for Fix-and-Flip Investors or Buy-and-Hold Investors.
Property is extensive renovation needed.
Built in 1920 and on the market for the first time in about 80 years, this property shows clear signs of severe age and neglect. The exterior images reveal faded paint, overgrown vegetation, and general disrepair. One image depicts a severely dilapidated structure, indicating significant defects and potential safety concerns. Without interior photos, it's highly probable that the kitchens, bathrooms, and other interior components are original or very outdated, requiring substantial repairs and rehabilitation to meet modern standards and ensure habitability.
The property features three distinct units on one lot, categorized as 'Residential Income,' providing immediate rental income potential for investors.
Situated in the vibrant 'Frogtown' community, the property boasts an excellent location across from local parks, trendy cafes, the LA River bike path, and is adjacent to Dodger Stadium, offering a highly desirable urban and outdoor lifestyle.
The availability of multiple adjacent lots for purchase (as indicated in the MLS) presents a unique opportunity for a larger development project or portfolio expansion.
Built in 1920, the property is over a century old, which likely implies the need for significant updates to plumbing, electrical, and other core systems, potentially incurring substantial renovation costs.
With a total of 1368 sqft distributed across three units (2+1, 1+1, 1+1), the individual unit sizes are relatively small, which could limit rental income potential or appeal to certain tenant demographics.
The property explicitly states 'view: None,' which can be a drawback in the Los Angeles market where scenic views often command a premium and enhance property value.
First time on the market in about 80 years! 3 units on one lot. 1930 Blake is 2+1, 2736 Queen 1+1, and 2738 Queen 1+1. Situated in the vibrant community of Elysian Valley, also known as "Frogtown." Across the street from local parks, trendy cafes, the LA River bike path, and Dodger Stadium adjacent, this property is a perfect blend of urban living and outdoor lifestyle. Don’t miss out on this prime Los Angeles property! The following lots are available for purchase and in the MLS: 1) 5442-011-030 -2724 Queen St 2) 5442-011-031- 2728 Queen St 3) 5442-011-032 – 1930 Blake Ave 4) 5442-011-009 – 2723 Pirtle St 5) 5442-013-002 – 2746 Benedict St
No exterior & parking available.
Grades K-6 • 0.4 mi
Grades K-6 • 0.5 mi
Grades K-6 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 2.0 | 56% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 1,368 | 1,930 | 33% |
| Lot Size | 6,106 | 5,981 | 56% |
| Price | $1.05M | $1.41M | 22% |
| Price per sq ft | $768 | $768 | 50% |
| Built year | 1920 | 1940 | 22% |
| HOA | $0 | $0 | 50% |
| Days on market | 592 | 139 | 0% |
Sep 7, 2024
$1,050,000
Initial Listing