2809 Folsom, Los Angeles, California 90033, Los Angeles, 90033 - 0 bed, 0 bath
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Los Angeles, California 90033
This Multi-Unit Residential Income Asset is a High-Potential Investment Opportunity listed at $748,888, representing a stable entry point at its $748,888 Fair Market Value. Currently holding a Condition Rating of 5, the property offers substantial upside through forced appreciation and comprehensive rehabilitation. The RD1.5 Zoning and detached garage provide clear ADU Potential, while existing long-term rents remain significantly below market. Featuring distant city skyline and mountain views, this triplex is a strategic acquisition for Buy-and-Hold Investors or Contractors seeking a value-add project in Boyle Heights.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2809 Folsom Subject | $748,888* List Price | 0 | 0 | 2,519 | $297 | - |
A 2732 Malabar Street Sold | $678,800 | 0 | 0 | 2,272 | $299 | 0.1 mi |
B 917 N Mott St Sold | $685,000 | 0 | 0 | 2,156 | $318 | 0.4 mi |
C 2627 Pomeroy Avenue Sold | $587,000 | 0 | 0 | 1,544 | $380 | 0.6 mi |
D 2811 -2813 E Boulder Street Active | $725,000 List Price | 0 | 0 | 2,272 | $319 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
The property was built in 1922, making it over 100 years old. The listing highlights a 'value add opportunity' and 'rents well below market,' strongly indicating that the interior units, including kitchens and bathrooms, are significantly outdated and require substantial rehabilitation to meet current standards. The 'drive by only, inspection subject to offer' clause further suggests that the interior condition is not suitable for showcasing and likely has significant deferred maintenance and outdated systems, aligning with the 'poor' condition criteria.
As a triplex, this property offers diversified income streams and is explicitly marketed as a residential income property, appealing to investors seeking multiple revenue sources.
The property presents substantial upside with rents 'well below market' and clear ADU possibilities (garage conversion), allowing for considerable future income growth and property value appreciation.
Situated in a prime Boyle Heights location, it offers quick access to Downtown LA, major freeways, public transit, and neighborhood amenities, enhancing tenant desirability and long-term appreciation.
The 'drive by only, inspection subject to offer, do not disturb tenants' clause severely limits a buyer's ability to conduct thorough pre-offer inspections, increasing investment risk due to unknown conditions.
While offering upside, the presence of long-term tenants with below-market rents implies potential challenges and time investment in rent adjustments and tenant relations, which can be a complex process.
Built in 1922, the property is likely to require significant capital expenditures for deferred maintenance, system upgrades (e.g., plumbing, electrical), and potential remediation of older building materials.
PRIME INVESTMENT IN BOYLE HEIGHTS WITH VALUE ADD OPPORTUNITY. Here’s a great chance to own a triplex in the heart of Boyle Heights. This property sits on an RD1.5 lot and offers both immediate income and long-term potential. The front duplex has two units with 2 bedrooms and 1 bath each, while the back house features 3 bedrooms, 1 bath, a private yard, and a garage with ADU possibilities. All units are occupied with long term tenants with rents still well below market—leaving plenty of room for upside. A long driveway allows for multiple cars, and the location offers quick access to Downtown LA, freeways, transit, and neighborhood amenities. With its price reduction, strong cash flow, and value-add potential, this property is one of the best multifamily buys in the area. Buyer to assist with 1031 Exchange. Drive by only, Inspection subject to offer. Please do not disturb tenants. Property to be delivered with all tenants occupied.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 2,519 | 2,269 | 73% |
| Lot Size | 5,847 | 5,847 | 50% |
| Price | $748.9K | $748.9K | 50% |
| Price per sq ft | $297 | $380 | 18% |
| Built year | 1922 | 1924 | 18% |
| HOA | $0 | $0 | 50% |
| Days on market | 107 | 204 | 36% |
Jan 5, 2026
$748,888
Initial Listing
Feb 22, 2016
$475,000
Public Record
Sep 30, 2002
$224,000
Public Record