300 -302 E 42nd Place 2, Los Angeles, California 90011, Los Angeles, 90011 - bed, bath
ACTIVE$749,000
300 -302 E 42nd Place 2, Los Angeles, California 90011
0Bed
0Bath
1,884Sqft
1,886Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Strong Rental Income: The property is currently generating a significant rental income of $5,560 per month, offering immediate cash flow and a solid return on investment.
Top Cons:
Advanced Age of Property: Built in 1922, the property is over a century old, which may necessitate higher ongoing maintenance costs, potential system upgrades, and future capital expenditures.
Compared to the nearby listings
Price:$749.0K vs avg $672.0K (+$77,000)65%
Size:1,884 sqft vs avg 1,963 sqft46%
Price/sqft:$398 vs avg $34569%
More Insights
Built in 1922 (103 years old).
Condition: The property was built in 1922, making it over 100 years old. Exterior images show an aged building with stucco siding and older window styles, suggesting it has not undergone a recent, extensive renovation. While the property is tenant-occupied and generating income, implying functionality, the lack of interior photos, especially for kitchens and bathrooms, prevents a detailed assessment of their condition and style. Given its age and status as a rental property, it's highly probable that interior components, including kitchens and bathrooms, are functional but outdated and would require minor to moderate updates to meet current aesthetic and quality standards. This aligns with the 'Fair' category, indicating an aged but maintained property where major components are functional but show signs of being outdated.
Year Built
1922
Close
-
List price
$749K
Original List price
$850K
Price/Sqft
$398
HOA
-
Days on market
-
Sold On
-
MLS number
DW24200524
Home ConditionFair
Features
View-
About this home
HUGE PRICE REDUCTION FOR QUICK SALE. GREAT OPPORTUNITY TO START YOUR PORFOLIO. IN VERY GOOD NEIGHBORHOOD . DUPLEX WITH A PERMITTED ADU FOR A TOTAL OF THREE UNITS. ONE UNIT IS 3 BEDROOM 2 BATHROOM, SECOND UNIT IS 2 BEDROOM 1 BATHROOM WITH A PERMITTED ADU. SEPARATED ELECTRICITY AND GAS METER ON BOTH UNITS. WATER IS PAID BY LANDLORD. PROPERTY CURRENTHLY PRODUCING GREAT RENTAL INCOME OF $5,560 PER MONTS. THIS PROPERTY IS CONVENIENTLY LOCATED NEAR URBAN AMENITIES, MAKINNG IT AN ATTRACTIVE INVESTMENT FOR RENTERS. JUST MINUTES FROM DOWNTOWN LA. TENANT OCCUPIED. DO NOT DISTURB TENANTS.
Condition Rating
Fair
The property was built in 1922, making it over 100 years old. Exterior images show an aged building with stucco siding and older window styles, suggesting it has not undergone a recent, extensive renovation. While the property is tenant-occupied and generating income, implying functionality, the lack of interior photos, especially for kitchens and bathrooms, prevents a detailed assessment of their condition and style. Given its age and status as a rental property, it's highly probable that interior components, including kitchens and bathrooms, are functional but outdated and would require minor to moderate updates to meet current aesthetic and quality standards. This aligns with the 'Fair' category, indicating an aged but maintained property where major components are functional but show signs of being outdated.
Pros & Cons
Pros
Strong Rental Income: The property is currently generating a significant rental income of $5,560 per month, offering immediate cash flow and a solid return on investment.
Multi-Unit Investment: Comprising a duplex with a permitted ADU, the property offers three distinct units (3B/2B, 2B/1B, ADU), maximizing rental potential and diversifying income streams.
Prime Urban Location: Conveniently located near urban amenities and just minutes from Downtown LA, ensuring high rental demand and strong potential for property appreciation.
Independent Utilities: Separate electricity and gas meters for each unit simplify tenant billing and management, reducing landlord operating costs and administrative burden.
Significant Price Reduction: A substantial price reduction from $850,000 to $749,000 indicates a motivated seller and presents a compelling value proposition for a quick acquisition.
Cons
Advanced Age of Property: Built in 1922, the property is over a century old, which may necessitate higher ongoing maintenance costs, potential system upgrades, and future capital expenditures.
Landlord-Paid Water Utility: The landlord is responsible for water costs, representing a recurring expense that directly reduces the net operating income for the property owner.
Tenant Occupied Status: The property is tenant-occupied with a 'do not disturb' clause, which can complicate property showings, inspections, and any immediate plans for renovation or owner-occupancy.