2116 S Palm Grove Avenue, Los Angeles, California 90016, Los Angeles, 90016 - 0 bed, 0 bath
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2116 S Palm Grove Avenue
Los Angeles, California 90016
ACTIVE
CONDITION: FAIR
0Beds
0Baths
5,075Sq Ft
5,645Lot Size
Property Price
LIST PRICE$1,200,777
SUMMARY
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
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1924, the property is a century old. While two units have been recently renovated (<5 years), the remaining three units and the exterior show signs of significant dating and wear (>20 years). The 'value-add' potential mentioned in the description and the mix of updated versus original interiors place the overall building in the fair category, requiring further updates to systems and remaining units.
PROSSTRENGTHS & OPPORTUNITIES
- Strategic Growth Location
Situated in the high-demand Mid City market between Downtown LA and Culver City's Tech Hub, the property is perfectly positioned to benefit from rapid neighborhood appreciation and strong rental demand.
- Significant Value-Add Potential
With over 5,000 square feet of space and only two of the five units recently renovated, there is a clear opportunity to increase the capitalization rate by upgrading the remaining three units.
- Competitive Pricing
At approximately $236 per square foot, the property is priced attractively for a multi-unit asset in a central Los Angeles corridor, offering a lower entry point for investors.
CONSRISKS & DEFICIENCIES
- Aging Infrastructure
Built in 1924, the property likely requires ongoing maintenance and potential capital expenditures for century-old systems, including plumbing and electrical.
- Financing Complexity
The 'Mixed Use' sub-type classification may limit traditional residential financing options, potentially requiring buyers to secure commercial loans with higher down payments.
About 2116 S Palm Grove Avenue
Property Details
Public Facts
- Property Type
- Mixed Use
- Year Built
- 1924
- Lot Size
- 5,645 Sq. Ft.
Interior
- Total Bedrooms
- 0
- 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 |
|---|---|---|
| Beds | 0.0 | 11.0 |
| Baths | 0.0 | 5.7 |
| Square foot | 5,075 | 4,165.789 |
| Lot Size | 5,645 | 6,696 |
| Price | $1.20M | $956.9K |
| Price per sq ft | $237 | $273 |
| Built year | 1924 | 1937 |
| HOA | $0 | $907 |
| Days on market | 26 | 134 |
Pricing History
Listed for Sale
Oct 14, 2026
$1,200,777
Initial Listing
Sold
Aug 31, 2023
$1,200,000
Public Record
Sold
Aug 31, 2020
$1,530,000
Public Record