3335 Folsom Street, Los Angeles, California 90063, Los Angeles, 90063 - bed, bath
ACTIVE$950,000$5,244/sqft
3335 Folsom Street, Los Angeles, California 90063
0Bed
0Bath
5,244Sqft
14,148Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
High Income Potential: Property is explicitly marketed as a 'GREAT BUSINESS OPPORTUNITY' for investors, with 'Residential Income' type and 'BOARDING HOUSE, ROOMING HOUSE' use codes, supported by 14 bedrooms and 8 bathrooms.
Top Cons:
Advanced Age & Potential Maintenance: Built in 1880, the property is very old, suggesting a high likelihood of requiring extensive updates to plumbing, electrical, HVAC, and structural components, leading to significant capital expenditures.
Compared to the nearby listings
Price:$950.0K vs avg $777.5K (+$172,500)75%
Size:5,244 sqft vs avg 2,055 sqft96%
Price/sqft:$181 vs avg $3478%
More Insights
Built in 1880 (146 years old).
Condition: Built in 1880, this property is extremely old, and there is no indication of recent extensive renovations. The exterior images show a dated facade, unkempt landscaping, older windows, and a visible window AC unit, suggesting a lack of modern HVAC. The property analysis explicitly notes 'Advanced Age & Potential Maintenance' and a 'high likelihood of requiring extensive updates to plumbing, electrical, HVAC, and structural components.' While interior images are absent, the age and exterior condition strongly imply that kitchens, bathrooms, and other major systems are severely outdated and require substantial repairs and rehabilitation to meet current standards. The significant price reduction also suggests underlying condition issues.
Year Built
1880
Close
-
List price
$950K
Original List price
$1.7M
Price/Sqft
$181
HOA
-
Days on market
-
Sold On
-
MLS number
DW24133248
Home ConditionPoor
Features
ViewNeighborhood
About this home
GREAT BUSINESS OPPORTUNITY..THIS BEAUTIFUL DUPLEX HAS BEEN OPENED INTO A SINGLE FAMILY RESIDENCE.THIS VERY SPACIOUS PROPERTY FEATURES 14 BEDROOMS AND 8 FULL BATHROOMS,KITCHEN,LAUNDRY ROOM AND PLENTY OF PARKING SPACE..14,144 SQFT LOT PER ASSESSORS.THIS IS AN AMAZING OPPORTUNITY FOR INVESTORS THIS PROPERTY HAS SO MANY USE CODES BOARDING HOUSE ,ROOMING HOUSE.GREAT LOCATION, CLOSE TO USC UNIVERSITY,DODGERS STADIUM,FASHION DISTRICT,LOS ANGELES DOWNTOWN,FREEWAYS AND SO MANY AMENITIES.
J
Jesse Barocio
Listing Agent
Price History
Date
Event
Price
08/12/22
Sold
$1,339,000
11/13/17
Sold
$830,000
Condition Rating
Poor
Built in 1880, this property is extremely old, and there is no indication of recent extensive renovations. The exterior images show a dated facade, unkempt landscaping, older windows, and a visible window AC unit, suggesting a lack of modern HVAC. The property analysis explicitly notes 'Advanced Age & Potential Maintenance' and a 'high likelihood of requiring extensive updates to plumbing, electrical, HVAC, and structural components.' While interior images are absent, the age and exterior condition strongly imply that kitchens, bathrooms, and other major systems are severely outdated and require substantial repairs and rehabilitation to meet current standards. The significant price reduction also suggests underlying condition issues.
Pros & Cons
Pros
High Income Potential: Property is explicitly marketed as a 'GREAT BUSINESS OPPORTUNITY' for investors, with 'Residential Income' type and 'BOARDING HOUSE, ROOMING HOUSE' use codes, supported by 14 bedrooms and 8 bathrooms.
Strategic Location: Situated in a prime Los Angeles location, close to USC, Dodger Stadium, Fashion District, Downtown LA, and major freeways, enhancing its appeal for tenants and business operations.
Exceptional Capacity: Boasts a very spacious 5,244 sqft living area with 14 bedrooms and 8 full bathrooms, offering significant rental income potential or capacity for various business models.
Generous Lot & Parking: Features a substantial 14,144 sqft lot with 'PLENTY OF PARKING SPACE,' a valuable asset in a dense urban environment like Los Angeles.
Compelling Value Proposition: The current list price of $950,000 represents a significant 44% reduction from the original $1,700,000 and is notably below its 2022 sale price of $1,339,000, indicating a potentially strong investment opportunity.
Cons
Advanced Age & Potential Maintenance: Built in 1880, the property is very old, suggesting a high likelihood of requiring extensive updates to plumbing, electrical, HVAC, and structural components, leading to significant capital expenditures.
Ambiguous Conversion Status: The description states a 'DUPLEX HAS BEEN OPENED INTO A SINGLE FAMILY RESIDENCE' while retaining 'Duplex' sub-type and 'Residential Income' classification, which could indicate unpermitted modifications or complexities in zoning and future use.
Unexplained Price Volatility: The drastic price reduction from $1.7M to $950K, and below its 2022 sale price, raises questions about the property's condition, market challenges, or a distressed seller, warranting thorough due diligence.