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2537 Elsinore Street, Los Angeles, California 90026, Los Angeles, 90026 - bed, bath

2537 Elsinore Street, Los Angeles, California 90026 home-pic-0
ACTIVE$1,199,999
2537 Elsinore Street, Los Angeles, California 90026
0Bed
0Bath
2,208Sqft
6,465Lot
Year Built
1914
Close
-
List price
$1.2M
Original List price
$1,000K
Price/Sqft
$543
HOA
-
Days on market
-
Sold On
-
MLS number
GD25060377
Home ConditionPoor
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.20M(73th), sqft - 2208(45th), beds - undefined(50th), baths - undefined(50th).

Three units for sale with one unit delivered vacant! Fantastic Owner/Investor Opportunity in Prime Silver Lake! The front duplex consists of two units: one 1-bedroom, 1-bathroom unit, which will be delivered vacant, and a tenant-occupied 3-bedroom, 1.5-bathroom unit. The detached back house features 1 bedroom, 1 bathroom, and 1 dedicated parking space. The property includes three separate gas meters and three separate electrical meters, ensuring ease of management and independent utility billing for each unit. Located in one of LA’s hottest neighborhoods, this trophy triplex is situated in prime Silver Lake, just above Sunset Blvd and within walking distance to the area's best cafes, restaurants, and attractions. Renowned for its vibrant and diverse community, Silver Lake is where creativity thrives, offering a unique charm that captivates both longtime residents and newcomers alike. The property is comprised of a duplex (side by side) in the front and a detached single-family home in the back, providing incredible flexibility for various living and investment opportunities. As you arrive, you’ll immediately notice the privacy, peace, tranquility, and outstanding curb appeal that set this property apart. Best of all, it features a secluded and charming front porch—perfect for morning coffee, gardening, entertaining, weekend gatherings, or a sunny retreat for pets. This is a superb opportunity for an owner/user to live in one unit while renting out the others, or for a first-time or seasoned investor looking to add a highly desirable asset to their portfolio. Enjoy the best of LA living with close proximity to the Silver Lake Reservoir, Echo Park Lake, Downtown LA, top-tier restaurants, cafes, and convenient freeway access. Don't miss this rare and fantastic investment opportunity!

Nearby schools

2/10
Mayberry Street Elementary School
Public,•K-6•0.3mi
5/10
Micheltorena Street Elementary School
Public,•K-5•0.6mi
5/10
Rosemont Avenue Elementary School
Public,•K-5•0.6mi
8/10
Clifford Street Elementary School
Public,•K-6•0.9mi
/10
Lake Street Primary School
Public,•K-1•0.9mi
4/10
Betty Plasencia Elementary School
Public,•K-6•1.3mi
3/10
Elysian Heights Elementary School
Public,•K-6•1.3mi
3/10
Gratts Learning Academy For Young Scholars (Glays)
Public,•K-6•1.7mi
8/10
Allesandro Elementary School
Public,•K-6•1.7mi
7/10
Dorris Place Elementary School
Public,•K-6•1.9mi
6/10
Castelar Street Elementary School
Public,•K-5•2.1mi
7/10
Solano Avenue Elementary School
Public,•K-6•2.2mi
2/10
Logan Street Elementary School
Public,•K-8•0.7mi
6/10
Thomas Starr King Middle School
Public,•6-8•1.2mi
5/10
Virgil Middle School
Public,•6-8•1.4mi
3/10
Sal Castro Middle School
Public,•6-8•1.4mi
5/10
Florence Nightingale Middle School
Public,•6-8•2.9mi
6/10
Irving STEAM Magnet
Public,•6-8•3.0mi
3/10
Belmont Senior High School
Public,•9-12•1.4mi
8/10
John Marshall Senior High School
Public,•9-12•1.9mi

Price History

Date
Event
Price
09/20/24
Sold
$700,000
Condition Rating
Poor
Built in 1914, this property is over a century old. While the exterior appears maintained and some interior areas have fresh paint and carpet, the visible kitchen is extremely outdated with old cabinets, yellow countertops, an old sink, and no visible modern appliances, indicating a need for a full renovation. The absence of central AC (evidenced by a window unit) and the overall age suggest that major systems (plumbing, electrical, HVAC) are likely original or very old and will require substantial rehabilitation and capital expenditure to meet current standards and comfort levels. The property is livable but requires significant investment to update key areas and systems.
Pros & Cons

Pros

Prime Silver Lake Location: Situated in one of LA's hottest and most vibrant neighborhoods, offering excellent walkability to cafes, restaurants, attractions, and close proximity to Silver Lake Reservoir, Echo Park Lake, and Downtown LA.
Income-Generating Triplex: The property consists of three distinct units (a duplex and a detached home), providing significant rental income potential for investors or owner-users.
Vacant Unit for Flexibility: One unit will be delivered vacant, offering immediate opportunity for an owner-occupant or the ability to set market-rate rent for a new tenant.
Flexible Property Configuration: The combination of a front duplex and a detached back house provides diverse living arrangements and investment strategies, catering to various needs.
Independent Utility Metering: Three separate gas and electrical meters simplify property management and ensure independent utility billing for each unit, reducing landlord burden.

Cons

Age of Property: Built in 1914, the property is over a century old, which may imply potential for deferred maintenance, outdated systems, and higher capital expenditure for necessary renovations or repairs.
Limited Parking: Only one dedicated parking space is explicitly mentioned for the detached unit, which could pose a significant challenge for tenants and residents of the other two units in a dense urban area like Silver Lake.
Significant Price Increase: The current list price is substantially higher than the original list price and a previous sale, which may indicate an aggressive pricing strategy or require strong justification for the valuation.

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