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2814 Wabash Avenue, Los Angeles, California 90033, Los Angeles, 90033 - bed, bath

2814 Wabash Avenue, Los Angeles, California 90033 home-pic-0
ACTIVE$950,000
2814 Wabash Avenue, Los Angeles, California 90033
0Bed
0Bath
2,184Sqft
5,917Lot
Year Built
1924
Close
-
List price
$950K
Original List price
$1.1M
Price/Sqft
$435
HOA
-
Days on market
-
Sold On
-
MLS number
PW23188703
Home ConditionFair
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $950.0K(69th), sqft - 2184(50th), beds - undefined(50th), baths - undefined(50th).

This outstanding 3-unit income property on a 5,917-lot size is ideal for both seasoned investors and first-time multifamily buyers in a rapidly growing neighborhood. Two units are 3 bedrooms, 1 bath. One unit 1 bedroom, 1 bath. New roofs on both buildings. All three units have hardwood floors. The property offers 3 on-site parking spaces and very low maintenance greenery. Property is located in the City of Terrace (Los Angeles County). Conveniently near the 5, 10, 60, and 710 freeways. Located near Cal State University Los Angeles, Downtown Los Angeles, Pasadena, and San Gabriel Valley. This is an ideal investment property!

Price History

Date
Event
Price
08/02/25
$950,000
10/15/23
$1,100,000
05/18/12
Sold
$372,000
09/30/11
Sold
$165,000
Condition Rating
Fair
Built in 1924, this property is very old. While it benefits from recent capital improvements like new roofs and features hardwood floors throughout, the kitchen, as depicted, has dated wood cabinets, basic countertops, and lacks visible modern appliances. The overall aesthetic is functional but not contemporary. The condition of major systems (plumbing, electrical, HVAC) is unknown but likely original or very old, suggesting potential future updates or repairs. It is maintained and livable but shows its age and would require minor updates to meet modern standards, particularly in the kitchen and likely bathrooms (not pictured).
Pros & Cons

Pros

Income-Generating Triplex: The property is a 3-unit income property, ideal for both seasoned and first-time multifamily investors seeking consistent rental income in a growing neighborhood.
Strategic Location & Accessibility: Conveniently located near major freeways (5, 10, 60, 710) and key destinations such as Cal State University Los Angeles, Downtown Los Angeles, Pasadena, and the San Gabriel Valley, enhancing tenant appeal.
Recent Capital Improvements: Both buildings have new roofs, a significant capital improvement that reduces immediate maintenance concerns and costs for the new owner.
Desirable Interior Features: All three units feature hardwood floors, adding to their aesthetic appeal and tenant desirability.
On-Site Parking: The property offers 3 dedicated on-site parking spaces, a valuable amenity in a dense urban area like Los Angeles.

Cons

Property Age & Potential Deferred Maintenance: Built in 1924, the property is nearly a century old, which may imply potential for unseen or deferred maintenance issues beyond the new roofs (e.g., plumbing, electrical systems, foundation).
Price Reduction History: The property has seen a significant price reduction from $1.1 million to $950,000, which could indicate initial overpricing or market resistance, potentially raising buyer concerns.
Limited Bathroom-to-Bedroom Ratio: Two of the three units are configured as 3 bedrooms with only 1 bathroom, which can be less appealing or functional for larger families or multiple tenants, potentially limiting the tenant pool or rental income.

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