2311 1st Street, Los Angeles, California 90033, Los Angeles, 90033 - 8 bed, 8 bath
ACTIVE$2,000,000$2,276/sqft
2311 1st Street, Los Angeles, California 90033
8Beds
8Baths
2,276Sqft
6,500Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Mixed-Use Investment: Excellent mixed-use investment opportunity featuring both residential and commercial units, providing diversified income streams.
Top Cons:
Age of Property: Built in 1908, the property's age may necessitate significant capital expenditures for maintenance, repairs, and system upgrades to meet modern standards.
Compared to the nearby listings
Price:$2.00M vs avg $1.26M (+$735,000)50%
Size:2,276 sqft vs avg 1,905.5 sqft50%
Price/sqft:$879 vs avg $61250%
More Insights
Built in 1908 (118 years old).
Condition: Built in 1908, this mixed-use property shows its age. While one residential unit features a recently updated, basic kitchenette with modern blue cabinets and a contemporary bathroom with a tiled shower, other areas, including commercial units and another bathroom, are clearly older and more basic. The laundry facility is functional but dated. The property appears maintained but has not undergone a comprehensive recent renovation, suggesting major systems are likely outdated and will require future attention, aligning with the 'fair' condition criteria.
Year Built
1908
Close
-
List price
$2M
Original List price
$2M
Price/Sqft
$879
HOA
-
Days on market
-
Sold On
-
MLS number
V1-33909
Home ConditionFair
Features
View-
About this home
Excellent mixed-use investment opportunity featuring both residential and commercial units, plus an on-site laundry facility for added income. 2 commercial units with bathrooms along with on site storage units. This property offers multiple revenue streams with strong rental demand and flexible commercial space ideal for retail, office, or service use. A great option for investors seeking diversified cash flow and long-term upside in one well-positioned asset.
A
Alfredo Hernandez
Listing Agent
Condition Rating
Fair
Built in 1908, this mixed-use property shows its age. While one residential unit features a recently updated, basic kitchenette with modern blue cabinets and a contemporary bathroom with a tiled shower, other areas, including commercial units and another bathroom, are clearly older and more basic. The laundry facility is functional but dated. The property appears maintained but has not undergone a comprehensive recent renovation, suggesting major systems are likely outdated and will require future attention, aligning with the 'fair' condition criteria.
Pros & Cons
Pros
Mixed-Use Investment: Excellent mixed-use investment opportunity featuring both residential and commercial units, providing diversified income streams.
Multiple Revenue Streams: The property offers multiple revenue streams, including residential, commercial, and an on-site laundry facility, enhancing its financial appeal.
On-Site Laundry Facility: An on-site laundry facility is included, providing an additional and consistent source of income.
Strong Rental Demand: The property benefits from strong rental demand, suggesting high occupancy potential and stable income.
Flexible Commercial Space: The commercial space is flexible and ideal for various uses such as retail, office, or service, broadening the tenant pool and marketability.
Cons
Age of Property: Built in 1908, the property's age may necessitate significant capital expenditures for maintenance, repairs, and system upgrades to meet modern standards.
Lack of Renovation Details: The description does not specify any recent renovations or updates, which could imply deferred maintenance or required modernization for an older mixed-use asset.
Unspecified Residential Unit Details: While residential units are mentioned, the lack of specific details regarding their number, condition, or current occupancy makes a comprehensive income assessment challenging.