3501 E 3rd, Los Angeles, California 90063, Los Angeles, 90063 - 7 bed, 3 bath
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Los Angeles, California 90063
Analysis of 3501 E 3rd, Los Angeles, California 90063 is currently available with a list price of $1,150,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Los Angeles Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is moderate renovation needed.
Built in 1961, this 60+ year old property is described as well-maintained and freshly painted, but lacks evidence of recent major renovations to kitchens, bathrooms, or core systems. The presence of window AC units and the 'long-term tenant' status suggest the interiors are functional but dated, fitting the criteria for a property over 20 years old needing cosmetic or minor system updates.
The property produces a robust gross annual income of $84,600 from four units, providing immediate cash flow and a high yield for investors or a significant mortgage offset for owner-users.
Located in the heart of Boyle Heights near DTLA and major medical centers, the property benefits from proximity to four major freeways (I-10, I-5, I-710, and US-101), ensuring consistently high rental demand.
The mix of a detached 3-bedroom house, two 2-bedroom units, and a studio—all with separate addresses—offers excellent flexibility for mixed-use, multi-generational living, or traditional investment.
Existing long-term tenants and below-market rents on specific units suggest the property is subject to Los Angeles Rent Stabilization Ordinances (RSO), which may restrict the ability to quickly align rents with current market values.
With seven bedrooms distributed across four units on a 5,081 sqft lot, the high density may lead to limited outdoor space and potential parking constraints in a congested urban neighborhood.
Excellent mixed-use for own users and or investment opportunity in the heart of Boyle Heights! This income-producing fourplex features both commercial and residential units, each with its own address, offering flexibility and strong rental appeal. Long-term tenants provide stable income, with the option to deliver the property with or without tenants. Ideal for investors, owner-users looking to live in one unit while generating income from the others, or organizations such as churches, nonprofits, or similar associations seeking a versatile property (buyer to verify all permitted uses with the appropriate authorities). Conveniently located near Downtown Los Angeles, major freeways, shopping, and dining. A rare opportunity to own a flexible, income-producing asset in a high-demand rental market. Well maintained, freshly painted. This property consists of a detached 3beds/1bath, (2 units) 2beds/1bath and a Studio, all current occupied. All units are separated addressed, enhancing tenant privacy and operational flexibility. Excellent for anyone seasoned investor or first time buyer looking to live in one and profit from the other units. All tenants are reported by the seller to be good long tenants. Prime Boyle Heights location just minutes from Downtown Los Angeles with convenient access to the I-10, I-5, I-710, and US-101 freeways, making commuting throughout Los Angeles easy. Close to major employment centers, shopping, dining, public transportation, and medical facilities including Los Angeles General Medical Center (formerly LAC+USC Medical Center). Excellent location with strong rental demand, making this an attractive opportunity for investors and owner-users alike. ** IDEAL TO BUY AND HOLD INVESTORS, MULTI GENERATIONAL LIVING, OR OWNER OCCUPANTS SEEKING RENTAL INCOMES** CURRENT RENT ROLL: Main House 326 Velasco Ave 3bed/1 bath $3,000 3501 E 3rd 2bed/1 bath : $1,300 3501 1/2 E Ave 2bed/1bath $1,800 Studio : $900 Annual Income : $7,050 Gross Annual Income; $84,600 **Buyer and buyer's agent to independly verify all information and perform their own due diligence. Listing agent, broker and seller make no warranties or representation. Photos have been edited to Gove buyers a vision and to remove tenants personal items**
No exterior & parking available.
Grades K-5 • 0.5 mi
Grades K-5 • 0.5 mi
Grades K-5 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 7.0 | 0.0 |
| Baths | 3.0 | 1.0 |
| Square foot | 2,747 | 2,864 |
| Lot Size | 5,081 | 7,003 |
| Price | $1.15M | $1.58M |
| Price per sq ft | $419 | $319 |
| Built year | 1961 | 1929 |
| HOA | $0 | $907 |
| Days on market | 5 | 91 |
Jul 17, 2026
$1,150,000
Initial Listing
Jun 28, 2022
$940,000
Public Record