RealKey
‪(213) 433-7766‬

3932 City Terrace Place, Los Angeles, California 90063, Los Angeles, 90063 - 4 bed, 4 bath

3932 City Terrace Place, Los Angeles, California 90063 home-pic-0
ACTIVE$665,000
3932 City Terrace Place, Los Angeles, California 90063
4Beds
4Baths
2,174Sqft
2,514Lot
Year Built
1924
Close
-
List price
$665K
Original List price
$665K
Price/Sqft
$306
HOA
-
Days on market
-
Sold On
-
MLS number
IV24108557
Home ConditionPoor
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $665.0K(50th), sqft - 2174(50th), beds - 4(50th), baths - 4(50th).

This well-maintained four-unit property offers a unique blend of residential and commercial spaces, making it an excellent opportunity for investors or owner-users. The top floor features a spacious three-bedroom, two-bathroom residential unit complete with a private laundry room. At the rear of the property is a fully remodeled one-bedroom, one-bathroom unit with modern finishes, ideal for a tenant seeking a turnkey living space. The front of the property consists of two ground-level units designated for commercial use, providing flexibility for retail, office, or service-oriented businesses. Recent upgrades include a brand-new roof, as well as new plumbing and electrical systems throughout the front portion of the property. This property offers both immediate functionality and long-term investment value.

Price History

Date
Event
Price
05/29/24
$665,000
Condition Rating
Poor
Built in 1924, the property's exterior is severely dilapidated with cracked stucco and boarded-up windows, indicating significant deferred maintenance. While the description mentions a 'fully remodeled one-bedroom, one-bathroom unit' and 'new plumbing and electrical systems throughout the front portion,' the provided interior image shows a space completely gutted to the studs with exposed framing and wiring, clearly a construction zone. This suggests that a substantial portion of the property is unlivable and requires extensive rehabilitation, despite some ongoing upgrades. The overall condition is far from move-in ready and necessitates major repairs to be habitable.
Pros & Cons

Pros

Mixed-Use Property: The property offers a unique blend of residential and commercial spaces, providing diverse income streams and flexibility for various tenant types.
Strong Investment Potential: Comprising four units, this property presents an excellent opportunity for investors or owner-users to generate significant rental income.
Recent Capital Improvements: Key upgrades include a brand-new roof and updated plumbing and electrical systems in the front portion, reducing immediate maintenance concerns for a buyer.
Turnkey Residential Unit: A fully remodeled one-bedroom, one-bathroom unit with modern finishes is ready for immediate occupancy, appealing to quality tenants.
Owner-User Flexibility: The spacious three-bedroom, two-bathroom unit on the top floor allows an owner to reside on-site while benefiting from income generated by the other units.

Cons

Age of Structure: Built in 1924, the property, despite recent upgrades, may still have underlying older components or require ongoing maintenance typical of historic buildings.
Limited Lot Size: With a lot size of 2,514 sqft for a four-unit mixed-use property, outdoor space or potential for future expansion is significantly constrained.
Partial System Upgrades: While the roof and front portion's plumbing/electrical are new, other parts of the property (e.g., rear units, other systems) may still have older infrastructure, potentially requiring future investment.

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI

Browse Properties by State Browse housing market trends by state