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2432 Daly Street, Los Angeles, California 90031, Los Angeles, 90031 - bed, bath

2432 Daly Street, Los Angeles, California 90031 home-pic-0
ACTIVE$1,998,888
2432 Daly Street, Los Angeles, California 90031
0Bed
0Bath
6,619Sqft
8,995Lot
Year Built
1929
Close
-
List price
$2M
Original List price
$2M
Price/Sqft
$302
HOA
-
Days on market
-
Sold On
-
MLS number
DW25144003
Home ConditionPoor
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $2.00M(50th), sqft - 6619(50th), beds - undefined(50th), baths - undefined(50th).

Excellent Mixed-Use Investment Opportunity in Lincoln Heights – 2432 Daly St. Los Angeles 90031. Offered at $1,988,888, this well-positioned 12-unit mixed-use property in the vibrant Lincoln Heights neighborhood presents a rare investment opportunity. Featuring a strong 6.35% Cap Rate and $165,700 cost per unit, the property delivers immediate income with significant long-term upside. The unit mix includes:(2) Street-level commercial storefronts,(8) One-bedroom, one-bath residential units and (2) Two-bedroom, one-bath residential units. Spread across 6,619 sq ft of living space on an 8,995 sq ft lot, the property offers a functional layout that simplifies management. All units are individually metered for gas and electricity. Located near Downtown Los Angeles, the Lincoln Heights area continues to benefit from strong rental demand and increasing property values. With an attractive price per unit and clear potential for rent growth and appreciation, this is a compelling addition to any investor's portfolio.

Nearby schools

4/10
Griffin Avenue Elementary School
Public,•K-5•0.5mi
3/10
Albion Street Elementary School
Public,•K-6•0.5mi
4/10
Gates Street Elementary School
Public,•K-5•0.6mi
2/10
Hillside Elementary School
Public,•K-5•0.8mi
4/10
Loreto Street Elementary School
Public,•K-5•0.8mi
3/10
Ann Street Elementary School
Public,•K-6•1.1mi
6/10
Multnomah Street Elementary School
Public,•K-5•1.3mi
4/10
Huntington Drive Elementary School
Public,•K-6•1.5mi
2/10
Murchison Street Elementary School
Public,•K-6•1.5mi
4/10
Bridge Street Elementary School
Public,•K-5•1.5mi
5/10
Florence Nightingale Middle School
Public,•6-8•0.8mi
5/10
Glen Alta Elementary School
Public,•K-8•1.1mi
5/10
El Sereno Middle School
Public,•6-8•2.2mi
6/10
Hollenbeck Middle School
Public,•6-8•2.7mi
5/10
Abraham Lincoln Senior High School
Public,•9-12•0.7mi
4/10
Woodrow Wilson Senior High School
Public,•9-12•1.7mi
3/10
Theodore Roosevelt Senior High
Public,•9-12•2.5mi
5/10
STEM Academy of Boyle Heights HS
Public,•9-12•2.7mi

Price History

Date
Event
Price
12/22/04
Sold
$798,000
Condition Rating
Poor
The property, built in 1929, shows significant age and wear across all visible residential units. The kitchens feature extremely dated wood or painted cabinets, worn laminate or tile countertops, basic stainless steel sinks, and older black appliances. Flooring consists of old linoleum, stained carpet, and basic ceramic tiles. Lighting is minimal with basic flush-mount fixtures and old ceiling fans. Heating is provided by wall-mounted units, and cooling by window AC units, indicating a lack of modern HVAC systems. While the units appear functional and occupied, they are aesthetically and functionally very outdated, requiring substantial rehabilitation and modernization to meet contemporary living standards and tenant expectations. There is no evidence of major renovations in the last 30-50 years, aligning with the 'poor' condition criteria.
Pros & Cons

Pros

Diversified Income Stream: The property is a 12-unit mixed-use building, featuring two street-level commercial storefronts and ten residential units (8 one-bedroom, 2 two-bedroom), providing a stable and diversified income portfolio.
Strong Investment Metrics: Offers a compelling 6.35% Cap Rate and an attractive $165,700 cost per unit, indicating a solid return on investment and good value for a multi-unit property in Los Angeles.
Strategic Location & Market Growth: Situated in the vibrant Lincoln Heights neighborhood, near Downtown Los Angeles, benefiting from strong rental demand and increasing property values, promising long-term appreciation.
Operational Efficiency: All units are individually metered for gas and electricity, simplifying management and reducing landlord utility expenses.
Significant Upside Potential: The property is highlighted for its immediate income generation with clear potential for rent growth and appreciation, making it an attractive value-add opportunity for investors.

Cons

Property Age: Built in 1929, the property is nearly a century old, which may necessitate significant capital expenditures for deferred maintenance, system upgrades, or modernization to remain competitive.
Lack of Condition Details: The description does not specify the current condition of the units or any recent renovations, implying potential for an investor to incur substantial costs for necessary upgrades or repairs.
Parking Omission: There is no mention of dedicated parking facilities for either the commercial or residential units, which can be a significant drawback and challenge in a dense urban area like Los Angeles.

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