2809 Folsom, Los Angeles, California 90033, Los Angeles, 90033 - bed, bath
ACTIVE$748,888$2,519/sqft
2809 Folsom, Los Angeles, California 90033
0Bed
0Bath
2,519Sqft
5,847Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Multi-Unit Income Property: 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.
Top Cons:
Restricted Due Diligence Access: 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.
Compared to the nearby listings
Price:$748.9K vs avg $748.9K (+$0)50%
Size:2,519 sqft vs avg 2,269 sqft65%
Price/sqft:$297 vs avg $37729%
More Insights
Built in 1922 (104 years old).
Condition: 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well below market,' strongly indicating that the interior units, including kitchens and bathrooms, are significantly outdated and require substantial rehabilitation to meet current standards.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suggests that the interior condition is not suitable for showcasing and likely has significant deferred maintenance and outdated systems, aligning with the 'poor' condition criteria.
Year Built
1922
Close
-
List price
$749K
Original List price
$749K
Price/Sqft
$297
HOA
-
Days on market
-
Sold On
-
MLS number
SB26001073
Home ConditionPoor
Features
Good View:
Patio
View-
About this home
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.
S
Simon Wu
Listing Agent
Price History
Date
Event
Price
02/22/16
Sold
$475,000
09/30/02
Sold
$224,000
Condition Rating
Poor
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.
Pros & Cons
Pros
Multi-Unit Income Property: 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.
Significant Value-Add Potential: 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.
Strategic Boyle Heights Location: 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.
RD1.5 Zoning: The RD1.5 lot designation indicates potential for higher density development or future expansion, adding intrinsic land value beyond the existing structures.
Immediate Occupancy & Cash Flow: All units are currently occupied by long-term tenants, ensuring immediate rental income for the new owner from day one.
Cons
Restricted Due Diligence Access: 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.
Tenant Management & Rent Increases: 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.
Age of Property (1922): 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.