242 W 58th Street, Los Angeles, California 90037, Los Angeles, 90037 - 3 bed, 2 bath
ACTIVE$624,999
242 W 58th Street, Los Angeles, California 90037
3Beds
2Baths
1,560Sqft
4,842Lot
Year Built
1913
Close
-
List price
$625K
Original List price
$670K
Price/Sqft
$401
HOA
-
Days on market
-
Sold On
-
MLS number
IG24184072
Home ConditionFair
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $625.0K(13th), sqft - 1560(13th), beds - 3(70th), baths - 2(65th).
Amazing duplex in South Central Los Angeles minutes from downtown Los Angeles , close to freeways . Front unit is a 2 bedrooms 1 bath and back unit is fully remodeled 1 bed and 1 bath . Both units have there own laundry hook ups and own gas and electric meters . There is plenty of parking . This is a great property to collect lucrative rent or for an owner occupied . 1 unit can be delivered vacant . This duplex is in good condition.
Price History
Date
Event
Price
11/17/21
Sold
$470,000
Condition Rating
Fair
Built in 1913, this duplex presents a mixed condition. While the back unit has been fully remodeled with a modern kitchen (white shaker cabinets, dark countertops, modern fixtures) and bathroom (new vanity, subway tile shower, modern flooring), and features new laminate flooring and fresh paint, the condition of the front unit is not detailed or shown, suggesting it is likely much older and not recently updated. The exterior of the property also shows its age. Cooling is provided by window AC units, not central air. Given the significant age of the overall structure and the partial nature of the renovation (only one unit), the property as a whole requires minor updates or repairs in the older unit and likely has outdated major components, aligning with a 'Fair' condition.
Pros & Cons
Pros
Income-Generating Duplex: The property is a duplex, offering significant income potential for investors or an owner-occupant looking to offset mortgage costs.
Owner-Occupant Opportunity: One unit can be delivered vacant, providing flexibility for a buyer to live in one unit while generating rental income from the other.
Independent Utilities & Amenities: Both units feature their own laundry hookups and separate gas/electric meters, simplifying management and enhancing tenant appeal.
Strategic Urban Location: Situated minutes from Downtown Los Angeles and close to major freeways, offering convenient access to city amenities and transportation.
Ample Parking: The property boasts plenty of parking, a valuable and sought-after amenity in a dense urban area like Los Angeles.
Cons
Historic Property Age: Built in 1913, the property's age may imply older infrastructure, potential for deferred maintenance, or higher upkeep costs compared to newer constructions.
Neighborhood Perception: Located in South Central Los Angeles, which, despite its proximity to downtown, may carry a perception that could affect buyer interest or future appreciation for some demographics.
Partial Renovation Details: While the back unit is fully remodeled, the description lacks specific details on the condition or updates of the front unit, suggesting it may not be as modern or updated.