2949 S Harcourt Avenue, Los Angeles, California 90016, Los Angeles, 90016 - bed, bath
ACTIVE$1,499,000
2949 S Harcourt Avenue, Los Angeles, California 90016
0Bed
0Bath
2,595Sqft
10,538Lot
Year Built
1924
Close
-
List price
$1.5M
Original List price
$1.5M
Price/Sqft
$578
HOA
-
Days on market
-
Sold On
-
MLS number
OC25115252
Home ConditionPoor
Features
Good View:
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.50M(57th), sqft - 2595(50th), beds - undefined(50th), baths - undefined(50th).
Prime Corner Lot Investment Opportunity in Los Angeles! This expansive 10,538 sq. ft. corner lot hosts a spacious 4-plex, presenting incredible potential for buy-and-hold investors or future development. Featuring four individually addressed units, four garage spaces, and a gated, fully secured large covered yard ideal for separate rental income. Three units, garages, and the backspace will be delivered vacant at close of escrow, while one unit remains tenant-occupied on a month-to-month lease. A rare opportunity for investors or owner-users seeking a versatile multifamily asset in a high-demand location—don’t miss out!
Nearby schools
5/10
Cienega Elementary School
Public,•K-5•0.5mi
5/10
Virginia Road Elementary School
Public,•K-5•0.7mi
6/10
Baldwin Hills Elementary School
Public,•K-5•0.8mi
6/10
Marvin Elementary School
Public,•K-5•0.9mi
4/10
Alta Loma Elementary School
Public,•K-5•1.3mi
3/10
Sixth Avenue Elementary School
Public,•K-5•1.6mi
3/10
Arlington Heights Elementary School
Public,•K-5•1.8mi
2/10
Audubon Middle School
Public,•6-8•1.7mi
3/10
Johnnie Cochran, Jr., Middle School
Public,•6-8•1.8mi
3/10
Daniel Webster Middle School
Public,•6-8•4.8mi
2/10
Susan Miller Dorsey Senior High School
Public,•9-12•0.4mi
6/10
Alexander Hamilton Senior High School
Public,•9-12•2.3mi
Price History
Date
Event
Price
12/26/00
Sold
$205,000
02/24/00
Sold
$205,000
Condition Rating
Poor
Built in 1924, this 100-year-old property is explicitly noted in the listing as 'likely requiring substantial capital expenditure for deferred maintenance, system upgrades (plumbing, electrical), and modernization.' While no interior images are provided for kitchens or bathrooms, the aerial photos reveal aged roofs with visible patches and temporary coverings, suggesting significant exterior repairs are needed. The need for extensive system upgrades and rehabilitation aligns with a 'poor' condition, indicating substantial repairs are required to bring the property to modern standards and ensure long-term functionality.
Pros & Cons
Pros
Prime Corner Lot & Development Potential: The expansive 10,538 sq. ft. corner lot offers excellent visibility, accessibility, and significant potential for future development or expansion in a high-demand urban area.
Multifamily Income Asset (4-plex): As a quadruplex, the property provides multiple income streams, enhancing cash flow potential and mitigating vacancy risk for investors.
Strategic Vacancy for Value-Add: Three of the four units, all garages, and the yard will be delivered vacant at close, offering immediate opportunity for an owner-user or the ability to renovate and lease at market rates.
High-Demand Los Angeles Market: Located in Los Angeles, a robust real estate market with strong rental demand and appreciation, supporting long-term investment stability and growth.
Multiple Income Streams: Beyond the residential units, four dedicated garage spaces and a large, secured covered yard offer additional, separate rental income opportunities.
Cons
Age of Property: Built in 1924, the property is nearly a century old, likely requiring substantial capital expenditure for deferred maintenance, system upgrades (plumbing, electrical), and modernization.
Low-Rated Local Schools: The presence of several low-rated public schools in the immediate vicinity (e.g., 2-rated middle and high schools) could negatively impact desirability for family-oriented tenants or future owner-occupants.
Tenant-Occupied Unit: One unit remains tenant-occupied on a month-to-month lease, which could introduce complexities for an owner-user or a developer planning immediate full-scale renovations or redevelopment.