2116 S Palm Grove Avenue, Los Angeles, California 90016, Los Angeles, 90016 - 0 bed, 0 bath
Loading property details...
Los Angeles, California 90016
This 5-unit multifamily property presents a High-Potential Investment Opportunity with a List Price of $1,297,777—positioned well below the $1,306,177 Fair Market Value by 0.65%. This valuation gap offers $8,400 in Instant Equity. With a Condition Rating of 4, the property features two renovated units and significant value-add potential across the remaining three. Strategically located between Downtown L.A. and Culver City, this asset is ideal for Buy-and-Hold Investors or Multifamily Developers seeking long-term growth in a high-demand rental market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2116 S Palm Grove Avenue Subject | $1,297,777* List Price | 0 | 0 | 5,075 | $257 | - |
A 2116 S Palm Grove Ave Active | $1,325,777 List Price | 0 | 0 | 5,075 | $261 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property was built in 1924 and while two units have been recently renovated, the remaining three units and overall building systems likely exceed the 20-year threshold for modern standards. The exterior and visible interiors appear functional but dated, fitting the 'value-add' description which implies a need for further updates and minor repairs to the non-renovated portions.
Strategically positioned in the high-demand Mid City market between Downtown L.A. and Culver City's Tech Hub, ensuring consistent rental demand and long-term appreciation.
With two units already fully renovated and three remaining, there is a significant opportunity to increase the rent roll and forced equity through further interior upgrades.
The property features over 5,000 square feet of living space, offering a generous footprint and unique construction that provides a competitive edge over smaller multi-family assets in the area.
Originally built in 1924, the property likely requires ongoing maintenance and potential capital expenditures for aging systems or seismic retrofitting common for this era.
Sales history indicates a notable price fluctuation, having sold for $1.53M in 2020 and $1.2M in 2023, which may suggest sensitivity to market shifts or previous overvaluation.
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 |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 1.0 |
| Square foot | 5,075 | 2,864 |
| Lot Size | 5,645 | 7,003 |
| Price | $1.30M | $1.58M |
| Price per sq ft | $256 | $319 |
| Built year | 1924 | 1929 |
| HOA | $0 | $907 |
| Days on market | 26 | 91 |
Jun 26, 2026
$1,297,777
Initial Listing
Aug 31, 2023
$1,200,000
Public Record
Aug 31, 2020
$1,530,000
Public Record