213 E 87th Pl, Los Angeles, California 90003, Los Angeles, 90003 - 0 bed, 0 bath
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Los Angeles, California 90003
This Strategic Residential Income Triplex is a Strong Value Opportunity, listed at $739,000, which aligns closely with its $734,832 Fair Market Value. Offering an immediate 7.4% CAP rate and a significant 40% rental upside, the asset features a Condition Rating of 4 with one vacant, move-in ready unit. The 6,272 sq ft lot with R3 Zoning provides lucrative ADU potential and future development flexibility near the 110 Freeway. This property is a premier choice for Buy-and-Hold Investors or Owner-Occupants looking to house-hack in a high-demand Los Angeles corridor.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 213 E 87th Pl Subject | $739,000* List Price | 0 | 0 | 2,723 | $270 | - |
A 146 E 89th Street Sold | $790,000 | 0 | 0 | 3,522 | $224 | 0.2 mi |
B 10016 S San Pedro Street Sold | $710,000 | 0 | 0 | 2,178 | $326 | 0.9 mi |
C 217 E 77th Street Sold | $630,000 | 0 | 0 | 2,283 | $276 | 0.8 mi |
D 154 E 82nd Place Active | $899,999 List Price | 8 | 4 | 2,894 | $311 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
This 1927 triplex is well-maintained but shows its age. While the vacant unit is move-in ready with updated tile flooring, newer kitchen cabinets, and stone countertops, the overall property features budget-grade finishes, popcorn ceilings, and dated fluorescent lighting. Given the building's age and the 'aging infrastructure' noted in the analysis, it requires ongoing maintenance and lacks the comprehensive system updates required for a higher rating.
The property offers an exceptional 7.4% CAP rate from day one with a significant 40% rental upside, providing immediate cash flow and long-term value appreciation.
Zoned R3 on a 6,272 sq ft lot, the property presents lucrative opportunities for future residential repositioning or the addition of an ADU in the large parking area.
With one vacant, move-in-ready 3-bedroom unit, this triplex is ideal for a first-time homebuyer looking to 'house-hack' by living in one unit while the others cover the mortgage.
Built in 1927, the property may require significant ongoing maintenance or capital improvements to modernize aging systems such as plumbing and electrical.
As a multi-unit property in Los Angeles with long-term tenants, it is subject to strict rent stabilization ordinances which can complicate the process of reaching market-rate rents.
Welcome to 213 E 87th Pl. This triplex offers exceptional value and opportunity for investors, first-time home-buyers, and developers. Three spacious units across 2,723 sq ft of livable space: unit 213 is 2 bed 1 bath; unit 215 is 3 bed 1 bath; unit 217 is 3 bed 2 bath. Units 213 and 217 are rented to steady long-term tenants. Unit 215 is vacant and move-in ready. There is over 40% upside from renting all units at market rates. The 6,272 sq ft lot includes a large parking lot with ADU potential. The property is conveniently located off Manchester Blvd and the 110 Freeway, near schools, shopping, entertainment, and more. Zoned R3, which allows for residential development possibilities. This property is ideal for investors seeking an outstanding 7.4% CAP rate from day one with plenty of rental upside, first-time home-buyers to live in the vacant unit, or developers considering future repositioning.
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 | 2,723 | 1,907 | 66% |
| Lot Size | 6,272 | 5,185 | 91% |
| Price | $739.0K | $765.0K | 41% |
| Price per sq ft | $271 | $361 | 18% |
| Built year | 1927 | 1926 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 19 | 203 | 2% |
Apr 3, 2026
$739,000
Initial Listing
Dec 29, 2016
$510,000
Public Record
Nov 1, 2013
$433,500
Public Record
Apr 6, 1999
$165,000
Public Record