3249 E 4th Street, Los Angeles, California 90063, Los Angeles, 90063 - 0 bed, 0 bath
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3249 E 4th Street
Los Angeles, California 90063
ACTIVE
CONDITION: FAIR
0Beds
0Baths
3,288Sq Ft
4,975Lot Size
Property Price
LIST PRICE$985,000
EST. MARKET VALUE
$1,006,957
SUMMARY
This High-Potential Investment Opportunity is a 4-Unit Quadruplex listed at $985,000, positioned well below the $1,006,958 Fair Market Value by 2%. This valuation gap offers $21,958 in Instant Equity. With a Condition Rating of 4, the property features updated major systems like copper plumbing and electrical panels, providing a stable foundation for value-add strategies. The potential to convert garage space into two ADUs offers significant rental upside. This is an ideal acquisition for Buy-and-Hold Investors or Value-Add Developers.
Estimated Market Value
$1,006,957
Based on Realkey algorithm analyzing recent comparable sales in Los Angeles.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3249 E 4th Street Subject | $985,000* List Price | 0 | 0 | 3,288 | $306 | - |
A 3559 E 4th Sold | $807,000 | 0 | 0 | 2,846 | $284 | 0.4 mi |
B 322 N Ditman Sold | $950,000 | 0 | 0 | 2,694 | $353 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1963, the property features significantly dated kitchens and bathrooms (exceeding 20 years) with visible wear. While major systems like copper plumbing and electrical panels were updated approximately 6 years ago, the interior finishes and fixtures require modernization to meet current market standards.
PROSSTRENGTHS & OPPORTUNITIES
- ADU Development Potential
The property offers a significant growth opportunity to convert existing garage space into two additional ADUs, potentially increasing the total unit count to six and boosting the projected cap rate to over 10%.
- Recent Capital Improvements
Major systems have been recently upgraded, including a copper plumbing re-pipe, electrical panel upgrades, and roof maintenance, which significantly reduces immediate deferred maintenance costs for a new owner.
- Significant Rental Upside
With current rents totaling approximately $4,767 per month against a market projection of $8,800, there is a clear path to increase gross rental income by roughly 46% through unit stabilization.
CONSRISKS & DEFICIENCIES
- Initial Cash Flow Limitations
The property is currently operating with rents significantly below market value, which may result in lower immediate cash-on-cash returns until units are turned over or the ADU conversions are completed.
- Low Local School Ratings
Several nearby elementary and middle schools carry low performance ratings (as low as 2/10), which could impact the long-term appeal for family-oriented tenants and affect future resale value.
About 3249 E 4th Street
Exceptional 4-UNIT BOYLE HEIGHTS INVESTMENT — $985,000 / APPROX. $299 PER SF and just $246,250 per existing unit! There is potential for 46% more gross rental income and 7.0% stabilized cap at the $985K asking price. Current rents totaling approximately $4,767.80 per month with upside to $8,800 per month. That increases the gross scheduled rent from $57,214/year to approximately $105,600/year, an increase of roughly $48,386 annually. The biggest growth opportunity is in converting existing garage space into 2 ADU-conversions to bring in up to an additional $1,800 per month totalling $3,600 per month in additional income. The property goes from $8,800/month in projected market rent to $12,400/month 4+2 adus stabilized annual rents: $148,800/year. You will have approximately a 10.15% cap rate at $985,000. The seller has completed substantial capital improvements during ownership, including a copper plumbing re-pipe approximately six years ago, upgraded electrical panel, exterior painting, roof maintenance, replacement of two tank-style water heaters and remodeled bathrooms in two units. The property has four separate electric meters and four separate gas meters. The major systems are set and ready to go. Overall, the property has been well maintained, reflecting pride of ownership, and offers significant rental upside potential.
Property Details
Public Facts
- Property Type
- Quadruplex
- Year Built
- 1963
- Lot Size
- 4,975 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Los Angeles Unified Schools
First Street Elementary School
Grades K-6 • 0.5 mi
2/10
Euclid Avenue Elementary School
Grades K-5 • 0.5 mi
5/10
Lorena Street Elementary School
Grades K-5 • 0.7 mi
2/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.6 |
| Baths | 0.0 | 3.0 |
| Square foot | 3,288 | 2,187.451 |
| Lot Size | 4,975 | 5,841.385 |
| Price | $985.0K | $841.5K |
| Price per sq ft | $300 | $385 |
| Built year | 1963 | 1928 |
| HOA | $0 | $0 |
| Days on market | 12 | 85 |
Pricing History
Listed for Sale
Aug 28, 2026
$985,000
Initial Listing
Sold
Nov 30, 2018
$713,000
Public Record
Sold
Jul 27, 1998
$200,000
Public Record