2152 Duvall Street, Los Angeles, California 90031, Los Angeles, 90031 - bed, bath
ACTIVE$700,000
2152 Duvall Street, Los Angeles, California 90031
0Bed
0Bath
1,207Sqft
5,107Lot
Year Built
1940
Close
-
List price
$700K
Original List price
$880K
Price/Sqft
$580
HOA
-
Days on market
-
Sold On
-
MLS number
WS23071933
Home ConditionPoor
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $700.0K(31th), sqft - 1207(8th), beds - undefined(50th), baths - undefined(50th).
This Duplex Is Perfect For Owner To Live In One And Rent The Other For Income In An Upcoming Area. It's Located Next To Los Angeles River, Fwy 5; It's Closed To Dodger Stadium, Chinatown; Griffith Park Observatory, Echo Park, Atwater, Glendale, Cypress Park, Glassell Park. Easy Access To Fwy 2, 5, 110, 101. Front Unit #2154 Has 1 Bed And 1 Bath, Back Unit #2152 Has 2 Bed 2 Bath (Of Which 1 Bed 1 Bath Is Not Permitted). Tenants Will Stay With Property, Purchase To Be With Tenants.
Condition Rating
Poor
Built in 1940, this property is 84 years old with no evidence of recent major renovations. The interior finishes, including wood paneling, old linoleum flooring, and severely outdated bathroom fixtures, appear to be 30-50+ years old and show significant wear and tear. The kitchen area is part of a very dated space. The overall condition indicates substantial deferred maintenance and disrepair, requiring significant rehabilitation. The mention of an unpermitted unit further suggests potential code issues and additional costs for a buyer.
Pros & Cons
Pros
Income-Generating Duplex: The property is a duplex, ideal for an owner to live in one unit and rent out the other, providing significant income potential and offsetting mortgage costs.
Prime Location & Accessibility: Strategically located next to the Los Angeles River and Fwy 5, with easy access to Fwy 2, 110, and 101. It's close to major attractions like Dodger Stadium, Chinatown, Griffith Park Observatory, and popular neighborhoods including Echo Park, Atwater, and Silver Lake.
Investment in an Upcoming Area: Situated in an 'upcoming area,' suggesting strong potential for future property value appreciation and neighborhood development.
Significant Price Reduction: The list price has been substantially reduced from $880,000 to $700,000, indicating a motivated seller and a potential value opportunity for buyers.
Established Tenancy: Existing tenants will remain with the property, offering immediate rental income for investors without the need to find new occupants.
Cons
Unpermitted Living Space: A critical drawback is that 1 bed and 1 bath in the back unit are not permitted, posing legal risks, potential fines, and requiring costly legalization or remediation by the buyer.
Extended Market Time: The property has been on the market since April 2023, indicating a prolonged selling period despite a significant price drop, likely due to the unpermitted unit or other underlying issues.
Tenant Occupancy Restrictions: While a strength for investors, the requirement for tenants to stay means an owner-occupant cannot immediately move into their desired unit, necessitating navigation of tenant rights and potential eviction processes.