2015 Pennsylvania Avenue, Los Angeles, California 90033, Los Angeles, 90033 - 0 bed, 0 bath
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Los Angeles, California 90033
This Multi-Unit Value-Add Asset is listed at $1,175,000, with a $934,393 Fair Market Value reflecting its current state. The property features a Seven-Unit Bungalow Mix—including a detached 3-bedroom house—offering rare density in the high-demand Boyle Heights Rental Market. With a Condition Rating of 5, the century-old structures require significant modernization of major systems to reach peak market potential. Because 75% of the neighborhood resides in rental housing, this property serves as a strategic acquisition for Buy-and-Hold Investors or Value-Add Developers focused on long-term ROI.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2015 Pennsylvania Avenue Subject | $1,175,000* List Price | 0 | 0 | 4,522 | $207 | - |
A 727 Cornwell Pending | $925,000 List Price | 0 | 0 | 4,684 | $197 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1922, this multi-unit property exhibits significant deferred maintenance. Exterior images show peeling paint, weathered wood siding, and cracked concrete. The reliance on window AC units and the absence of interior photos suggest that the major systems (electrical, plumbing, and HVAC) and interior finishes are likely outdated and require substantial rehabilitation to meet modern standards.
The property features a versatile mix of seven units, including a 3-bedroom house and bungalow-style layouts, catering to a wide range of tenant needs and maximizing income potential.
Situated in Boyle Heights where 75% of the population rents, the property benefits from a high-demand market driven by its proximity to major freeways and trendy local amenities.
The separate bungalow configuration offers tenants more privacy and a residential feel compared to traditional apartment blocks, which often leads to higher tenant satisfaction and retention.
Built in 1922, the century-old structures likely require significant capital expenditure for modernizing aging infrastructure, including plumbing, electrical, and seismic upgrades.
Managing seven detached or semi-detached units across a large lot increases the complexity and cost of exterior maintenance and landscaping compared to a single consolidated building.
An opportunity of a lifetime to own an Income property in this 241-year-old historical Los Angeles community.7 units all separate like small bungalows 2 are 2 bedrooms 1 bath each. 4 are 1 bedroom 1 bath each 1 is a house 3-bedroom 1 bath, Easy accesses to major freeway's such as the 5 and 10 and 101.Boyle Heights mix of history and trendy coffee shops, Restaurants, art and music creates a high demand for renter's desire to live with the community being 75% of residence are renters.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 0% |
| Baths | - | - | 0% |
| Square foot | - | - | 0% |
| Lot Size | - | - | 0% |
| Price | - | - | 0% |
| Price per sq ft | - | - | 0% |
| Built year | 1922 | - | 0% |
| HOA | $0 | $0 | 0% |
| Days on market | - | - | 0% |
Mar 17, 2026
$1,175,000
$1,200,000
-2% Price Drop
Initial Listing
Feb 3, 2026
$1,200,000
Initial Listing