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3306 E 8th, Los Angeles, California 90023, Los Angeles, 90023 - bed, bath

3306 E 8th, Los Angeles, California 90023 home-pic-0
ACTIVE$650,000
3306 E 8th, Los Angeles, California 90023
0Bed
0Bath
2,073Sqft
5,139Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Diversified Income & Investment Opportunity: This mixed-use property combines retail and residential units, offering immediate income with a 7% cap rate on the retail space and diversified revenue streams.
Top Cons:
Age of Property & Potential for Deferred Maintenance: Built in 1922, the property is likely to require significant capital expenditures for updates, repairs, or system replacements due to its age.

Compared to the nearby listings

Price:$650.0K vs avg $912.5K ($-262,500)50%
Size:2,073 sqft vs avg 4,066 sqft50%
Price/sqft:$314 vs avg $25450%

More Insights

Built in 1922 (103 years old).
Condition: While the kitchen and bathroom have received modern cosmetic updates, including shaker cabinets, subway tile, stainless steel appliances, and recessed lighting, and the flooring appears updated throughout, the property's build year of 1922 suggests that major systems (electrical, plumbing, HVAC) are likely original or significantly aged. The MLS description itself notes the property is 'likely to require significant capital expenditures for updates, repairs, or system replacements due to its age.' Therefore, despite the appealing interior updates, the overall condition is 'Fair' as it's an aged home with cosmetic updates, but the underlying infrastructure likely shows signs of being outdated and will require future attention.
Year Built
1922
Close
-
List price
$650K
Original List price
$650K
Price/Sqft
$314
HOA
-
Days on market
-
Sold On
-
MLS number
PW25246693
Home ConditionFair
Features
Patio
View-

About this home

Introducing an extraordinary investment opportunity nestled in the vibrant Boyle Heights neighborhood of Los Angeles. This mixed-use property, positioned for both residential and commercial success, boasts a lot size of 5,139 square feet. Comprising two separate buildings, the first encompasses a 728-square-foot retail space, offering a turnkey investment with a month-to-month lease and an enticing 7% cap rate. The second building features a comfortable 2-bedroom/1-bath residence spanning 1,345 square feet. Notably, the residence includes a non-confirming studio—a hidden income potential not currently reflected in the existing revenue. The month-to-month leases for both the retail and the residential unit provide flexibility for new owners, whether considering owner-occupation or optimizing rental terms. This property offers a unique house-hacking opportunity, allowing residents to live in the comfortable home while benefiting from the immediate income generated by the retail tenant. Because the rental is a single-family home that is the only residential structure on the parcel, the LA housing website is specific that the property isn’t part of LA’s RSO. Also, according to AB1482: The California Tenant Protection Act of 2019, the property is also exempt from any state rent control laws as well. Tier 2 TOC bonus available. Please see OM for links to LA RSO & AB1482 exclusions.

Condition Rating
Fair
While the kitchen and bathroom have received modern cosmetic updates, including shaker cabinets, subway tile, stainless steel appliances, and recessed lighting, and the flooring appears updated throughout, the property's build year of 1922 suggests that major systems (electrical, plumbing, HVAC) are likely original or significantly aged. The MLS description itself notes the property is 'likely to require significant capital expenditures for updates, repairs, or system replacements due to its age.' Therefore, despite the appealing interior updates, the overall condition is 'Fair' as it's an aged home with cosmetic updates, but the underlying infrastructure likely shows signs of being outdated and will require future attention.
Pros & Cons

Pros

Diversified Income & Investment Opportunity: This mixed-use property combines retail and residential units, offering immediate income with a 7% cap rate on the retail space and diversified revenue streams.
Rent Control Exemptions: The property is exempt from both LA RSO and AB1482, providing significant flexibility for rent adjustments and maximizing rental income potential without state or local rent control limitations.
Untapped Income Potential: Includes a non-conforming studio within the residential unit, presenting an opportunity to increase overall revenue beyond currently reflected figures.
House-Hacking & Owner-Occupant Flexibility: Month-to-month leases for both units and the mixed-use nature allow for owner-occupation of the residential unit while benefiting from immediate retail income.
Future Development Potential: Located in a Tier 2 TOC (Transit-Oriented Communities) bonus zone, indicating potential for future density increases or redevelopment opportunities.

Cons

Age of Property & Potential for Deferred Maintenance: Built in 1922, the property is likely to require significant capital expenditures for updates, repairs, or system replacements due to its age.
Non-Conforming Studio Status: The 'non-conforming' nature of the studio could present legal or permitting challenges, potentially requiring investment to legalize or risking future compliance issues.
Increased Management Complexity: Operating a mixed-use property with both commercial and residential tenants, especially with month-to-month leases, demands more active management and expertise compared to single-use properties.

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