2116 S Palm Grove Ave, Los Angeles, California 90016, Los Angeles, 90016 - bed, bath

2116 S Palm Grove Ave
Los Angeles, California 90016
Property Price
SUMMARY
Analysis of 2116 S Palm Grove Ave, Los Angeles, California 90016 is currently available with a list price of $1,350,777. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Los Angeles Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
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.
PROSSTRENGTHS & OPPORTUNITIES
- Strategic High-Growth Location
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.
- Multi-Unit Income Property
A 5-unit residential property offering significant rental income potential in a high-demand market, ideal for investors seeking steady cash flow.
- Strong Value-Add Potential
The property explicitly offers 'strong value-add potential,' indicating opportunities to increase revenue and property value through further enhancements or rent optimization.
CONSRISKS & DEFICIENCIES
- Property Age & Potential Deferred Maintenance
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.
- Recent Price Adjustment
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.
- Incomplete Renovation
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.
About 2116 S Palm Grove Ave
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.
Property Details
Public Facts
- Property Type
- Mixed Use
- Year Built
- 1924
- Lot Size
- 5,645 Sq. Ft.
Interior
- Total Bedrooms
- -
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 50% |
| Baths | - | - | 50% |
| Square foot | 5,075 | 3,637.5 | 50% |
| Lot Size | 5,645 | 5,423.5 | 50% |
| Price | $1.35M | $1.34M | 50% |
| Price per sq ft | $266 | $435 | 50% |
| Built year | 1924 | 1926 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 129 | 129 | 0% |
Pricing History
Listed for Sale
Jan 30, 2026
$1,350,777
$1,395,000
-3% Price Drop
Initial Listing
Price Change
Oct 28, 2025
$1,395,000
Initial Listing
Sold
Aug 31, 2023
$1,200,000
Public Record
Sold
Aug 31, 2020
$1,530,000
Public Record











