231 W 88th Street, Los Angeles, California 90003, Los Angeles, 90003 - 4 bed, 3 bath
ACTIVE$550,000
231 W 88th Street, Los Angeles, California 90003
4Beds
3Baths
1,907Sqft
5,351Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Turnkey Investment: This fully tenant-occupied triplex offers immediate rental income and no vacancy downtime, making it an ideal turnkey investment opportunity.
Top Cons:
As-Is Sale Condition: The property is sold 'as-is,' indicating potential for required repairs, upgrades, or deferred maintenance costs that a buyer would need to assume.
Compared to the nearby listings
Price:$550.0K vs avg $735.0K ($-185,000)21%
Size:1,907 sqft vs avg 1,896.5 sqft50%
Price/sqft:$288 vs avg $36517%
More Insights
Built in 1912 (113 years old).
Condition: Built in 1912, this property is over 100 years old and shows significant signs of age and deferred maintenance. The 'as-is' sale condition further supports this. The visible interior (kitchenette, living areas, bedroom) features very outdated elements such as old, worn carpeting, dated light fixtures, and a basic, old-fashioned kitchen with what appears to be original or very old cabinetry and countertops. While currently tenant-occupied, indicating it's livable, it requires substantial repairs and rehabilitation, especially for the kitchen and bathrooms, to meet modern standards or even basic comfort. There's no evidence of major renovations within the last 30-50 years, aligning with the 'poor' condition criteria.
Year Built
1912
Close
-
List price
$550K
Original List price
$599K
Price/Sqft
$288
HOA
-
Days on market
-
Sold On
-
MLS number
SB25093047
Home ConditionPoor
Features
View-
About this home
Investor Opportunity – 3 Units in Prime Los Angeles Location Rare chance to own a fully tenant-occupied triplex in the heart of Los Angeles, perfect for the seasoned or beginner investor seeking steady rental income from day one. This unique property features a charming front 2-bedroom house and two additional 1-bedroom units, each located on the second level of their respective structures, offering privacy and elevated living. Situated within walking distance to public transportation, shopping, and local amenities, this location offers strong tenant demand and long-term rental appeal. The property will be delivered as-is and with tenants in place, presenting a turnkey investment opportunity with no vacancy downtime. Don't miss this solid income-generating property in one of L.A.’s high-demand rental markets.
Condition Rating
Poor
Built in 1912, this property is over 100 years old and shows significant signs of age and deferred maintenance. The 'as-is' sale condition further supports this. The visible interior (kitchenette, living areas, bedroom) features very outdated elements such as old, worn carpeting, dated light fixtures, and a basic, old-fashioned kitchen with what appears to be original or very old cabinetry and countertops. While currently tenant-occupied, indicating it's livable, it requires substantial repairs and rehabilitation, especially for the kitchen and bathrooms, to meet modern standards or even basic comfort. There's no evidence of major renovations within the last 30-50 years, aligning with the 'poor' condition criteria.
Pros & Cons
Pros
Turnkey Investment: This fully tenant-occupied triplex offers immediate rental income and no vacancy downtime, making it an ideal turnkey investment opportunity.
Prime Los Angeles Location: Situated in the heart of Los Angeles, this property benefits from a high-demand rental market with strong tenant appeal and long-term potential.
Multi-Unit Income Diversification: Comprising a 2-bedroom house and two 1-bedroom units, the property provides diversified rental streams, enhancing investment stability.
Excellent Accessibility: Its location within walking distance to public transportation, shopping, and local amenities significantly boosts tenant desirability and demand.
Recent Price Adjustment: A recent price reduction from $599,000 to $550,000 may present a more competitive and attractive entry point for investors.
Cons
As-Is Sale Condition: The property is sold 'as-is,' indicating potential for required repairs, upgrades, or deferred maintenance costs that a buyer would need to assume.
Historic Property Age: Built in 1912, the property's age may lead to higher ongoing maintenance expenses and potential for outdated systems or infrastructure.
Tenant-Occupied Limitations: Being fully tenant-occupied limits immediate access for extensive renovations or personal use, and new ownership will inherit existing lease agreements.