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2910 Acresite Street, Los Angeles, California 90039, Los Angeles, 90039 - bed, bath

2910 Acresite Street, Los Angeles, California 90039 home-pic-0
ACTIVE$2,300,000
2910 Acresite Street, Los Angeles, California 90039
0Bed
0Bath
4,898Sqft
10,082Lot
Year Built
1965
Close
-
List price
$2.3M
Original List price
$2.3M
Price/Sqft
$470
HOA
-
Days on market
-
Sold On
-
MLS number
BB25089239
Home ConditionFair
Features
Good View:
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $2.30M(50th), sqft - 4898(50th), beds - undefined(50th), baths - undefined(50th).

Welcome to 2910 Acresite Street, the only apartment complex on the block! A standout opportunity in the vibrant landscape of Los Angeles real estate with riverfront VIEWS! The building features a diverse unit mix, Four – 3 Bedroom Units and One 2 bedroom, 1.5-bathroom townhouse. These configurations provide potential tenants with desirable living options, ensuring a broad appeal. Ample parking is available, with 10 assigned spaces, easing the urban parking woes of future residents. An on-site laundry room adds convenience, while the inclusion of wall/window air conditioning ensures comfort throughout the year. With a generous 4,898 square feet of living space on a 10,082 square foot lot, this property is designed to accommodate and impress. Upgrades include, new electrical panels in each unit, updated main electrical panel, updated dual pane windows on front units, fresh exterior paint. Updated kitchens, bathrooms and flooring in two of the units. Located on a prominent corner lot next to an entrance of the Los Angeles Riverwalk, this property is poised to benefit from the ambitious North Atwater East Bank Riverway Project. This project promises to transform a 2.2-mile stretch into a multi-use, accessible riverway, perfect for recreation and leisure. This enhancement not only augments the lifestyle appeal of the area but also positions the property for significant rental value appreciation. Investors will find exceptional potential here, with over a 39% upside in gross rent collections as demand in the area continues to rise. Don't miss the opportunity to capitalize on this value-add deal in one of LA's rapidly developing neighborhoods. Explore your investment potential at 2910 Acresite Street—where urban living meets strategic opportunity.

Nearby schools

4/10
Atwater Avenue Elementary School
Public,•K-6•0.4mi
9/10
Ivanhoe Elementary School
Public,•K-5•0.5mi
8/10
Allesandro Elementary School
Public,•K-6•0.8mi
5/10
Glenfeliz Boulevard Elementary School
Public,•K-6•1.0mi
6/10
Cerritos Elementary School
Public,•K-6•1.1mi
4/10
Fletcher Drive Elementary School
Public,•K-6•1.2mi
8/10
Franklin Avenue Elementary School
Public,•K-6•1.5mi
5/10
Columbus Elementary School
Public,•K-5•3.0mi
7/10
Balboa Elementary School
Public,•K-6•5.1mi
6/10
Irving STEAM Magnet
Public,•6-8•1.2mi
6/10
Thomas Starr King Middle School
Public,•6-8•1.6mi
6/10
Theodore Roosevelt Middle School
Public,•6-8•1.7mi
7/10
Eleanor J. Toll Middle School
Public,•6-8•3.9mi
8/10
John Marshall Senior High School
Public,•9-12•1.1mi
6/10
Glendale High School
Public,•9-12•2.9mi
7/10
Herbert Hoover High School
Public,•9-12•3.9mi

Price History

Date
Event
Price
04/23/25
Listing
$2,300,000
05/03/22
Sold
$2,000,000
08/06/14
Sold
$1,068,000
Condition Rating
Fair
The property, built in 1965, has received significant recent updates to its electrical systems, exterior paint, and some windows. Two of the five units have updated kitchens, bathrooms, and flooring, which are in good condition (though the updated kitchen shown has basic white appliances and a somewhat dated light fixture). However, the remaining three units are not updated, likely requiring substantial renovation to meet current tenant expectations and maximize rental income, as suggested by the 'value-add' description. The presence of wall/window air conditioning throughout the complex also indicates an outdated system compared to modern standards. While functional and partially updated, the property as a whole requires further investment to bring all units up to a consistent, modern standard, placing it in the 'Fair' category.
Pros & Cons

Pros

High Value-Add Potential: Explicitly offers 'over a 39% upside in gross rent collections,' positioning it as a prime investment for significant rental income growth.
Strategic Location & Future Growth: Situated on a prominent corner lot with riverfront views, directly benefiting from the transformative North Atwater East Bank Riverway Project, promising long-term appreciation.
Recent Capital Improvements: Significant upgrades including new electrical panels, dual-pane windows (front), and fresh exterior paint, reducing immediate capital expenditure for the new owner.
Diverse Unit Mix & Tenant Amenities: Features a desirable mix of four 3-bedroom units and one 2-bedroom townhouse, complemented by ample assigned parking and on-site laundry, enhancing tenant appeal.
Unique Market Position: Described as 'the only apartment complex on the block,' offering a distinct competitive advantage in its immediate vicinity.

Cons

Incomplete Unit Renovations: Only two of the five units have updated kitchens, bathrooms, and flooring, indicating substantial remaining renovation costs to achieve full rent potential across all units.
Wall/Window Air Conditioning: The reliance on wall/window AC units, while providing comfort, is less efficient and desirable than central air, potentially affecting tenant appeal and long-term operational costs.
Building Age & Potential Deferred Maintenance: Built in 1965, despite some upgrades, the property's age suggests potential for future maintenance needs in areas not explicitly mentioned as updated (e.g., plumbing, roof, foundation).

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