321 W Avenue 37, Los Angeles, California 90065, Los Angeles, 90065 - bed, bath
ACTIVE$950,000
321 W Avenue 37, Los Angeles, California 90065
0Bed
0Bath
2,814Sqft
5,558Lot
Year Built
1902
Close
-
List price
$950K
Original List price
$950K
Price/Sqft
$338
HOA
-
Days on market
-
Sold On
-
MLS number
IV25039387
Home ConditionPoor
Features
Good View: City Lights
Patio
ViewCity Lights
About this home
We found 3 Cons,5 Pros. Rank: price - $950.0K(50th), sqft - 2814(75th), beds - undefined(50th), baths - undefined(50th).
Welcome to this Mount Washington Triplet featuring three specious units. GREAT INVESTMENT OPPOTUNITY for Investors with potential. Buyer can live in one house, rent out the other two. Great view of the city. Easy access to Fwy 110, short drive to Downtown, Dodgers Stadium restaurants and shopping. Property on REAP needs TLC. Can't miss this fantastic opportunity. Great for INVESTORS seeking to make profit.
Nearby schools
4/10
Loreto Street Elementary School
Public,•K-5•0.3mi
6/10
Latona Avenue Elementary School
Public,•K-6•0.6mi
2/10
Aragon Avenue Elementary School
Public,•K-5•0.7mi
7/10
Mt. Washington Elementary School
Public,•K-6•1.0mi
3/10
Aldama Elementary School
Public,•K-6•1.4mi
4/10
Glassell Park Elementary School
Public,•K-6•1.6mi
5/10
Buchanan Street Elementary School
Public,•K-6•2.0mi
5/10
Toland Way Elementary School
Public,•K-6•2.1mi
5/10
Florence Nightingale Middle School
Public,•6-8•0.5mi
6/10
Luther Burbank Middle School
Public,•6-8•2.6mi
7/10
Benjamin Franklin Senior High School
Public,•6-12•1.9mi
7/10
Eagle Rock High School
Public,•7-12•3.0mi
Condition Rating
Poor
The property was built in 1902 and the listing explicitly states it 'needs TLC' and 'Extensive Renovation Required.' It is also on REAP (Rent Escrow Account Program), indicating significant deferred maintenance and potential code violations. The exterior images show an aged structure with visible wear and unkempt surroundings. While no interior photos are provided, the age and description strongly suggest that the kitchen, bathrooms, and all major systems are severely outdated and require substantial repairs or complete replacement, aligning with the 'poor' condition criteria.
Pros & Cons
Pros
Income-Generating Triplex: The property is a triplex, offering significant income potential for investors or owner-occupants seeking multiple rental streams.
Strategic Location & Accessibility: Provides easy access to Fwy 110, Downtown LA, Dodgers Stadium, and local amenities, enhancing its rental appeal and convenience.
Desirable City Views: Features compelling city views, adding aesthetic value and market appeal to the property.
Mount Washington Neighborhood: Situated in the highly desirable Mount Washington area, known for its community and potential for property value appreciation.
Flexible Owner-Occupancy/Investment: Offers the unique advantage for an owner to reside in one unit while generating income from the other two.
Cons
REAP Status & Deferred Maintenance: The property is currently on REAP (Rent Escrow Account Program) and requires significant 'TLC,' indicating substantial deferred maintenance and potential code violations.
Extensive Renovation Required: Given its age (1902) and stated condition, buyers should anticipate considerable renovation costs to update and repair the property.
Aging Infrastructure: As an early 20th-century build, the property likely possesses outdated systems (e.g., plumbing, electrical) that will require inspection, repair, or replacement.