
Los Angeles, California 90016
This Multi-Unit Value-Add Asset is listed at $1,325,777, positioned near its $1,218,510 Fair Market Value given the high-demand Mid City location. Featuring a Fair Condition Rating, the property offers over 5,000 square feet of space with two units already modernized, leaving three units for significant Value-Add Potential. Strategically located between Downtown LA and the Culver City Tech Hub, the 1924 construction provides a stable income stream with clear paths for forced appreciation through further renovation. This is an ideal acquisition for Buy-and-Hold Investors or Value-Add Specialists.
Property is moderate renovation needed.
Built in 1924, this property is nearly 100 years old. While the listing states that '2 units were recently fully renovated,' the images confirm a mixed condition. The renovated units feature basic modern updates like light laminate flooring, fresh paint, white cabinets, granite-look countertops, and newer stainless steel/white appliances, making them functional and clean. However, images of the unrenovated units show older wood cabinets, dated countertops, older dark wood-look flooring, popcorn ceilings, and very basic bathrooms with fiberglass tub surrounds. Heating appears to be via wall heaters, not central HVAC. The overall property, with a majority of units still in an older, albeit maintained, condition, falls into the 'Fair' category, as it requires minor updates or repairs for the unrenovated portions to meet current standards, despite the recent improvements in some units.
Positioned in Mid City, a rapidly developing area between Downtown LA and Culver City's Tech Hub, ensuring high tenant demand and long-term appreciation potential.
A 5-unit residential property offering significant rental income potential in a high-demand market, ideal for investors seeking steady cash flow.
The property explicitly offers 'strong value-add potential,' indicating opportunities to increase revenue and property value through further enhancements or rent optimization.
Built in 1924, the property is nearly a century old. While 'well-maintained,' older structures often require ongoing capital expenditures for systems and infrastructure, especially for the unrenovated units.
A recent price reduction from $1,395,000 to $1,350,777 suggests the initial pricing may have been ambitious or that the property has faced challenges in attracting offers at its original list price.
Only two of the five units have been fully renovated, meaning a significant portion of the property may require further investment to achieve full market rental potential and modern standards.
Welcome to this incredible value in Mid City, Fantastic investment opportunity in the rapidly growing Mid City market! This well-maintained 5 units feature over 5000 square feet of unique construction, creating strong value-add potential, 2 units were recently fully renovated the property is strategically positioned in the most appealing, high growth areas from Downtown L.A. to Culver City's Tech Hub, the neighborhood is experiencing a rapid growth of multifamily development. This property offers amazing tenant convenience Located in a high-demand rental market, this property is ideal for investors seeking steady income and long-term growth.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 5,075 | 3,637.5 | 50% |
| Lot Size | 5,645 | 5,423.5 | 50% |
| Price | $1.33M | $1.33M | 50% |
| Price per sq ft | $261 | $433 | 50% |
| Built year | 1924 | 1926 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 176 | 176 | 0% |
Apr 8, 2026
$1,325,777
$1,350,777
-2% Price Drop
Initial Listing
Jan 30, 2026
$1,350,777
$1,395,000
-3% Price Drop
Initial Listing
Oct 28, 2025
$1,395,000
Initial Listing
Aug 31, 2023
$1,200,000
Public Record
Aug 31, 2020
$1,530,000
Public Record