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347 E 61st Street, Los Angeles, California 90003, Los Angeles, 90003 - 4 bed, 3 bath

347 E 61st Street, Los Angeles, California 90003 home-pic-0
ACTIVE$760,000
347 E 61st Street, Los Angeles, California 90003
4Beds
3Baths
1,420Sqft
5,417Lot
Year Built
1910
Close
-
List price
$760K
Original List price
$799K
Price/Sqft
$535
HOA
-
Days on market
-
Sold On
-
MLS number
OC25109004
Home ConditionGood
Features
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $760.0K(52th), sqft - 1420(14th), beds - 4(76th), baths - 3(81th).

Cash Flow Opportunity + ADU Plans | Investors, FHA & VA Buyers Welcome! Don’t miss out on this 4BR/3BA duplex, which offers stability and long-term growth potential. Featuring a 3BD/2BA front unit and a 1BD/1BA rear unit. Perfect for multi-generational living, investors seeking reliable income, or owner-occupants looking for an affordable way to offset their mortgage. Each unit provides natural light, open living areas, indoor laundry, and central A/C. Additional highlights include solar panels for energy efficiency, off-street parking, and a spacious lot. Most importantly, the seller has already submitted plans for a detached 2BD/1BA ADU. This future expansion potential provides the next owner with a valuable opportunity to add rental income or create additional living space without starting from scratch on plans or entitlements. Leverage this major advantage that adds significant value and positions the property for growth beyond the duplex structure. Currently, one unit is rented with guaranteed Section 8 income. (Buyer to verify occupancy at COE) Centrally located near shopping, dining, and commuter routes. This property delivers a combination of income, future expansion, and long-term equity building. Whether you are an investor seeking consistent returns or an FHA/VA buyer ready to step into ownership with income support, this duplex provides a rare opportunity to secure both cash flow today and expansion potential tomorrow

Price History

Date
Event
Price
08/30/25
Price Change
$760,000
05/16/25
Listing
$799,000
02/08/19
Sold
$550,000
06/22/95
Sold
$125,000
Condition Rating
Good
Despite being built in 1910, this duplex has undergone significant and relatively recent renovations, bringing it to a 'Good' condition. The property features updated kitchens with modern stainless steel appliances (like the Samsung range and microwave), and bathrooms with contemporary white subway tile and mosaic accents. Key system upgrades include central A/C and solar panels, which are substantial improvements for a home of this age. One laundry area boasts a modern stacked LG unit, while the other appears functional. The flooring is updated to wood-look laminate. The property is move-in ready with no immediate major renovations required, aligning with the 'Good' criteria of being extensively renovated within the last 5-15 years and having well-maintained, functional systems.
Pros & Cons

Pros

Strong Income Potential: The property is a duplex with one unit currently rented with guaranteed Section 8 income, providing immediate and stable cash flow for investors or mortgage offset for owner-occupants.
Significant Value-Add Opportunity: Seller has already submitted plans for a detached 2BD/1BA ADU, offering a clear and expedited path for future expansion, increased rental income, and enhanced property value.
Broad Buyer Appeal: The property caters to a wide range of buyers, including investors seeking reliable income, FHA/VA buyers, and owner-occupants looking for multi-generational living or mortgage assistance.
Modern Amenities & Efficiency: Each unit features central A/C and indoor laundry, along with solar panels, providing modern comforts, convenience, and energy cost savings.
Convenient Location: Centrally located near shopping, dining, and commuter routes, enhancing its attractiveness to tenants and residents.

Cons

Age of Property: Built in 1910, the property may have underlying older infrastructure (e.g., plumbing, electrical systems) that could require significant maintenance or upgrades in the long term, despite apparent modern amenities.
Occupancy Verification Required: The note 'Buyer to verify occupancy at COE' for the Section 8 unit introduces a slight uncertainty regarding the immediate continuation of the guaranteed income stream post-purchase.
Compact Unit Sizes: With 4 beds and 3 baths across 1420 sqft, the individual units (3BD/2BA and 1BD/1BA) are likely to have relatively compact living spaces, which might not appeal to all prospective tenants or owner-occupants seeking more spacious accommodations.

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