
Los Angeles, California 90026
This Elysian Heights Fourplex represents a Strong Value Opportunity, listed at $1,599,900—positioned well below the $1,602,618 Fair Market Value by 0.17%. Featuring a Good Condition Rating with a 2019 seismic retrofit and new roof, the property offers a vacant 2BD/1BA unit with panoramic downtown skyline views and granite kitchen countertops. With on-site parking for eight vehicles, this asset is perfectly suited for Buy-and-Hold Investors or Owner-Occupants seeking to offset mortgage costs through immediate rental income in a prime urban location.
Property is move-in ready.
While built in 1965, the property has undergone significant capital improvements including a new roof and seismic retrofit in 2019 (within the 5-15y reno window for 'Good'). The interior of the vacant unit is move-in ready with recent paint and carpet, and the kitchen features functional granite countertops and stainless-steel appliances. Although some elements like wall heaters and popcorn ceilings are dated, the overall maintenance and recent structural updates justify a 'Good' rating.
The property features a vacant, move-in ready 2BD/1BA unit with DTLA views, offering a rare opportunity for a buyer to reside on-site while generating immediate rental income from the other three units.
Major structural and maintenance items have been addressed, including a new roof and a building seismic retrofit completed in 2019, significantly reducing near-term capital expenditure for the investor.
With on-site parking for up to eight vehicles, the property provides a rare and highly valuable amenity in the densely populated Elysian Heights neighborhood where street parking is often limited.
Several assigned public schools, including Elysian Heights Elementary and Mayberry Street Elementary, carry lower performance ratings (3 and 2 respectively), which may impact appeal for families.
Due to its 1965 construction date, the property is subject to the Los Angeles Rent Stabilization Ordinance (RSO), which limits the owner's ability to adjust rents to market rates for the currently occupied units.
Rare Elysian Heights Fourplex! One VIEW unit is available for immediate occupancy, with a rare opportunity to reside in one residence and generate income from the remaining three. Within this highly sought-after hillside neighborhood this exceptional fourplex delivers the perfect blend of lifestyle, owner-user flexibility, and long-term investment value. The property features an excellent unit mix of (3) spacious 2BD/1BA units and (1) oversized 3BD/2BA unit with its own private patio. The vacant 2BD/1BA unit, situated in one of the most desirable locations within the property, enjoys spectacular downtown Los Angeles skyline views from the living room and kitchen with its adjacent private balcony. Bright and inviting, the kitchen features granite countertops and stainless-steel appliances. This specific residence has been thoughtfully refreshed with all-new interior paint and carpet, making it move-in ready for immediate owner occupancy or an outstanding opportunity to lease at today's market rents. Significant capital improvements have already been completed, including a new roof and building seismic retrofit in 2019, along with a freshly painted exterior that enhances the property's curb appeal. Additional amenities include a community laundry room, storage and on-site parking for up to eight vehicles, a rare and valuable convenience in this highly desirable neighborhood. Ideally located just moments from Echo Park Lake, Dodger Stadium, Downtown Los Angeles, Silver Lake, and the vibrant restaurants, cafés, boutiques, and nightlife along Sunset Boulevard, this property offers the perfect blend of neighborhood charm and urban convenience. Whether you're looking to live in one unit while enjoying income from the others or seeking a premier multi-family investment, this is a truly exceptional opportunity that rarely becomes available.
No exterior & parking available.
Grades K-6 • 0.2 mi
Grades K-6 • 0.3 mi
Grades K-6 • 0.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 9.0 | 4.6 |
| Baths | 5.0 | 3.0 |
| Square foot | 4,592 | 2,187.451 |
| Lot Size | 7,466 | 5,841.385 |
| Price | $1.60M | $841.5K |
| Price per sq ft | $348 | $385 |
| Built year | 1965 | 1928 |
| HOA | $0 | $0 |
| Days on market | 27 | 85 |
Aug 13, 2026
$1,599,900
Initial Listing