2918 Baldwin Street, Los Angeles, California 90031, Los Angeles, 90031 - bed, bath
ACTIVE$890,000
2918 Baldwin Street, Los Angeles, California 90031
0Bed
0Bath
2,323Sqft
9,022Lot
Year Built
1890
Close
-
List price
$890K
Original List price
$890K
Price/Sqft
$383
HOA
-
Days on market
-
Sold On
-
MLS number
CV24224659
Home ConditionPoor
Features
Patio
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $890.0K(38th), sqft - 2323(46th), beds - undefined(50th), baths - undefined(50th).
Great investment property in Lincoln Heights, three individual homes on over 9000 sqft lot. Close to downtown LA, walking distance to school, within 5 mins drive to local stores and super markets. The front house has 3 bedrooms 2 full baths rent for $1364 (Section 8 tenant) , The back two units has 2 bedrooms 1 bath rent for $795, and 1 bedroom 1 bath is vacant. All units have private backyard, laudry area, individual gas meter and electric meter. The property is being sold AS-IS condition and sold with tenants. PLEASE DO NOT DISTURB TENANTS OR GO ONTO PROPERTY.
Nearby schools
4/10
Griffin Avenue Elementary School
Public,•K-5•0.1mi
4/10
Gates Street Elementary School
Public,•K-5•0.3mi
3/10
Albion Street Elementary School
Public,•K-6•0.6mi
6/10
Multnomah Street Elementary School
Public,•K-5•1.0mi
2/10
Hillside Elementary School
Public,•K-5•1.1mi
2/10
Murchison Street Elementary School
Public,•K-6•1.1mi
3/10
Ann Street Elementary School
Public,•K-6•1.2mi
4/10
Loreto Street Elementary School
Public,•K-5•1.2mi
4/10
Bridge Street Elementary School
Public,•K-5•1.3mi
4/10
Huntington Drive Elementary School
Public,•K-6•1.4mi
5/10
Glen Alta Elementary School
Public,•K-8•1.2mi
5/10
Florence Nightingale Middle School
Public,•6-8•1.2mi
5/10
El Sereno Middle School
Public,•6-8•2.0mi
6/10
Hollenbeck Middle School
Public,•6-8•2.3mi
5/10
Abraham Lincoln Senior High School
Public,•9-12•0.5mi
4/10
Woodrow Wilson Senior High School
Public,•9-12•1.4mi
3/10
Theodore Roosevelt Senior High
Public,•9-12•2.1mi
5/10
STEM Academy of Boyle Heights HS
Public,•9-12•2.3mi
Price History
Date
Event
Price
08/14/17
Sold
$657,500
Condition Rating
Poor
Built in 1890, this property is over a century old and shows significant signs of age and deferred maintenance. The kitchens and bathrooms, as seen in the images, are extremely outdated with old cabinets, appliances, fixtures, and flooring (linoleum/old tile), suggesting renovations, if any, occurred 30-50+ years ago. The property is being sold 'AS-IS' with existing tenants, and the listing's analysis explicitly states a 'high likelihood of requiring substantial capital expenditure for system upgrades (plumbing, electrical), structural maintenance, and modernization.' While currently occupied, the overall condition indicates a need for substantial repairs and rehabilitation to meet contemporary standards and comfort.
Pros & Cons
Pros
Multi-Unit Income Property: The property is a triplex with three individual homes, providing diversified income streams and a strong investment profile in a desirable urban market.
Generous Lot Size: An expansive lot of over 9,000 sqft offers significant potential for future development, expansion, or creating enhanced outdoor living spaces, which is rare in Los Angeles.
Prime Urban Location: Situated in Lincoln Heights, the property boasts excellent proximity to Downtown LA, schools, local stores, and supermarkets, enhancing tenant appeal and long-term value appreciation.
Individual Unit Amenities: Each unit benefits from a private backyard, dedicated laundry area, and individual gas and electric meters, which are highly attractive features for tenants and simplify property management.
Value-Add Opportunity: With one unit currently vacant, there's an immediate opportunity for a new owner to renovate and re-tenant at market rates, significantly increasing the property's overall rental income and cap rate.
Cons
As-Is Sale & Tenant Restrictions: The property is sold in 'AS-IS' condition with existing tenants (including Section 8), and strict 'DO NOT DISTURB' directives, which severely limit due diligence and complicate potential renovations or tenant transitions.
Below Market Rents: Current rental income for the occupied units appears significantly below prevailing market rates for Los Angeles, indicating a lower initial cash flow and potential challenges in adjusting rents due to existing leases and rent control regulations.
Historic Property Age: Built in 1890, the property is over a century old, suggesting a high likelihood of requiring substantial capital expenditure for system upgrades (plumbing, electrical), structural maintenance, and modernization to meet contemporary standards and maximize its potential.