4045 Dennison Street, Los Angeles, California 90023, Los Angeles, 90023 - bed, bath

4045 Dennison Street, Los Angeles, California 90023 home-pic-0
ACTIVE$1,549,900
4045 Dennison Street, Los Angeles, California 90023
0Bed
0Bath
3,649Sqft
8,032Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Four-Unit Investment Opportunity: The property is an exceptional four-unit investment, comprising a duplex and two detached single-family residences, offering diverse rental income streams and flexibility.
Top Cons:
Age of Property: Built in 1955, the property may require significant capital expenditures for updates, renovations, or deferred maintenance to maximize rental income or appeal.

Compared to the nearby listings

Price:$1.55M vs avg $655.0K (+$894,900)92%
Size:3,649 sqft vs avg 1,702 sqft85%
Price/sqft:$425 vs avg $42550%

More Insights

Built in 1955 (70 years old).
Condition: Built in 1955, this property is aged, and the listing explicitly notes that it 'may require significant capital expenditures for updates, renovations, or deferred maintenance.' While the exterior appears maintained, the lack of interior photos, combined with the property's age and the description's emphasis on investment potential rather than modern features, strongly suggests that the kitchens, bathrooms, and other interior components are outdated and would require minor to moderate updates to meet current standards and maximize rental appeal.
Year Built
1955
Close
-
List price
$1.55M
Original List price
$1.65M
Price/Sqft
$425
HOA
-
Days on market
-
Sold On
-
MLS number
DW25142693
Home ConditionFair
Features
View-

About this home

Introducing 4045 Dennison Street, an exceptional four-unit investment opportunity situated on a prominent corner lot in the heart of Los Angeles. This income-generating property features a unique layout consisting of a duplex and two detached single-family residences, offering both privacy and flexibility for owner-occupants or savvy investors. One unit will be delivered vacant, making it an ideal scenario for FHA buyers looking to offset their mortgage with rental income. All forms of financing will be considered, adding further accessibility to this standout opportunity. With a pro forma cap rate of 7.2 percent and a gross rent multiplier of 13, the property provides strong immediate cash flow and long-term potential. The expansive lot includes an impressive 12 parking spaces, a rare find in this area, and adds tremendous convenience and value to the asset. Zoned with potential under SB9, there is an opportunity for future lot split or development upside. Buyer to verify with the city. Perfectly positioned near key transportation corridors, major employment hubs, and vibrant neighborhoods, 4045 Dennison Street is a well-located, high-performing asset with flexible income and development potential. Do not miss your chance to secure one of the most versatile and strategic investment properties in Los Angeles.

Price History

Date
Event
Price
10/24/17
Sold
$830,000
Condition Rating
Fair

Built in 1955, this property is aged, and the listing explicitly notes that it 'may require significant capital expenditures for updates, renovations, or deferred maintenance.' While the exterior appears maintained, the lack of interior photos, combined with the property's age and the description's emphasis on investment potential rather than modern features, strongly suggests that the kitchens, bathrooms, and other interior components are outdated and would require minor to moderate updates to meet current standards and maximize rental appeal.
Pros & Cons

Pros

Four-Unit Investment Opportunity: The property is an exceptional four-unit investment, comprising a duplex and two detached single-family residences, offering diverse rental income streams and flexibility.
Strong Financial Performance: Boasts a pro forma cap rate of 7.2 percent and a gross rent multiplier of 13, indicating strong immediate cash flow and long-term investment potential.
Development Upside (SB9 Potential): Zoned with potential under SB9, offering a significant opportunity for future lot split or further development, enhancing long-term value.
Ample Parking: Features an impressive 12 parking spaces, a rare and highly valuable amenity in the Los Angeles market, adding convenience for tenants and value to the asset.
Strategic Location & Accessibility: Well-located near key transportation corridors, major employment hubs, and vibrant neighborhoods, ensuring high tenant demand and accessibility.

Cons

Age of Property: Built in 1955, the property may require significant capital expenditures for updates, renovations, or deferred maintenance to maximize rental income or appeal.
Recent Price Reductions: The property has undergone multiple price reductions from its original list price, which could suggest initial overpricing or market resistance.
Development Potential Requires Buyer Verification: While SB9 potential is a strength, the explicit note 'Buyer to verify with the city' places the burden of due diligence and risk of feasibility entirely on the buyer.

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