2532 Eastlake Avenue, Los Angeles, California 90031, Los Angeles, 90031 - bed, bath
ACTIVE$1,175,000
2532 Eastlake Avenue, Los Angeles, California 90031
0Bed
0Bath
2,956Sqft
9,723Lot
Year Built
1912
Close
-
List price
$1.18M
Original List price
$1.18M
Price/Sqft
$397
HOA
-
Days on market
-
Sold On
-
MLS number
SR25050927
Home ConditionPoor
Features
Good View: City Lights
ViewCity Lights
About this home
We found 3 Cons,5 Pros. Rank: price - $1.18M(69th), sqft - 2956(69th), beds - undefined(50th), baths - undefined(50th).
Investment opportunity! 4 units with additional land to develop. Multi unit property with lots of potential comes with an additional lot to the back. Full property runs from one street to the other. Hillside units with a beautiful view to the city. close to schools, stores, parks, and freeways.
Nearby schools
4/10
Gates Street Elementary School
Public,•K-5•0.3mi
4/10
Griffin Avenue Elementary School
Public,•K-5•0.6mi
2/10
Hillside Elementary School
Public,•K-5•0.7mi
4/10
Loreto Street Elementary School
Public,•K-5•0.9mi
3/10
Albion Street Elementary School
Public,•K-6•0.9mi
6/10
Multnomah Street Elementary School
Public,•K-5•1.0mi
4/10
Huntington Drive Elementary School
Public,•K-6•1.0mi
2/10
Murchison Street Elementary School
Public,•K-6•1.4mi
3/10
Ann Street Elementary School
Public,•K-6•1.5mi
4/10
Bridge Street Elementary School
Public,•K-5•1.7mi
5/10
Glen Alta Elementary School
Public,•K-8•0.7mi
5/10
Florence Nightingale Middle School
Public,•6-8•1.0mi
5/10
El Sereno Middle School
Public,•6-8•1.7mi
6/10
Hollenbeck Middle School
Public,•6-8•2.8mi
5/10
Abraham Lincoln Senior High School
Public,•9-12•0.3mi
4/10
Woodrow Wilson Senior High School
Public,•9-12•1.3mi
3/10
Theodore Roosevelt Senior High
Public,•9-12•2.6mi
5/10
STEM Academy of Boyle Heights HS
Public,•9-12•2.8mi
Price History
Date
Event
Price
03/11/25
Listing
$1,175,000
12/23/20
Sold
$1,005,000
12/11/01
Sold
$167,090
Condition Rating
Poor
Built in 1912, this property is over a century old and shows no evidence of significant renovation in many decades. The kitchens feature severely outdated wood cabinets, worn countertops, basic and old appliances, and dated flooring. Bathrooms are extremely basic, worn, and feature old fixtures and finishes. Overall, the property requires substantial repairs and rehabilitation, including likely major system replacements (plumbing, electrical, HVAC), to meet modern living standards. While currently occupied, it is very uncomfortable and far from move-in ready, aligning with the 'poor' condition criteria.
Pros & Cons
Pros
Strong Income Potential: As a quadruplex (4 units), the property offers significant rental income and diversification, making it an attractive investment opportunity.
Significant Development Opportunity: The presence of 'additional land to develop' and the property running 'from one street to the other' indicates substantial potential for expansion or adding more units, enhancing future value.
Desirable City Views: The hillside location provides 'beautiful view to the city' and 'City Lights' views, which are highly sought after in Los Angeles and can command premium rents.
Excellent Location & Accessibility: The property's proximity 'close to schools, stores, parks, and freeways' ensures convenience for tenants and contributes to strong rental demand.
Large Lot Size: A substantial 9723 sqft lot in an urban area like Los Angeles provides ample space, supporting the development potential and offering more outdoor space than typical multi-family properties.
Cons
Advanced Age of Property: Built in 1912, the property is over a century old, suggesting potential for significant deferred maintenance, outdated systems (plumbing, electrical), and structural concerns that may require substantial investment.
Implied Need for Renovation/Investment: The description 'Multi unit property with lots of potential' often signals that the property is not in turnkey condition and requires substantial capital investment for upgrades and modernization to maximize its value and rental income.
Hillside Property Challenges: While offering views, hillside locations can present challenges such as complex foundation requirements, potential for erosion, difficult access, and higher costs for construction or landscaping maintenance.