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4205 Mercury Avenue, Los Angeles, California 90032, Los Angeles, 90032 - 6 bed, 6 bath

4205 Mercury Avenue, Los Angeles, California 90032 home-pic-0
ACTIVE$1,395,000
4205 Mercury Avenue, Los Angeles, California 90032
6Beds
6Baths
2,940Sqft
4,424Lot

Price Vs. Estimate

The estimated value ($1,395,000) is $0 (0%) lower than the list price ($1,395,000). This property may be overpriced.

Key pros and cons

Top Pros:
Strong Income Generation: The property features three separate units (two detached homes and a JADU) with guaranteed Section 8 rental income totaling $9,140/month, offering immediate and stable cash flow.
Top Cons:
Current Tenant Occupancy: All units are currently tenant-occupied with leases extending into 2025, which may delay immediate owner occupancy and could present challenges for showings or buyer transitions.

Compared to the nearby listings

Price:$1.40M vs avg $862.5K (+$532,500)93%
Size:2,940 sqft vs avg 1,275 sqft99%
Price/sqft:$474 vs avg $70415%

More Insights

Built in 2024 (1 years old).
Condition: This property consists of a brand new construction home (built 2024) and two additional units that were 100% remodeled in 2024, including new kitchens, bathrooms, plumbing, electrical, roof, windows, and HVAC. The images confirm a modern aesthetic with new hardwood flooring, recessed lighting, contemporary kitchen cabinets and countertops, and stylishly tiled bathrooms with new fixtures. All components are new or virtually new, meeting current quality standards with no deferred maintenance.
Year Built
2024
Close
-
List price
$1.4M
Original List price
$1.59M
Price/Sqft
$474
HOA
-
Days on market
-
Sold On
-
MLS number
24456625
Home ConditionExcellent
Features
Excellent View: City Lights, Canyon, Hills
Deck
Patio
ViewCity Lights,Canyon,Hills

About this home

"Brand New Construction" in Montecito Heights. 2 detached homes and JADU on one lot. Separate addresses and utilities. Front house, 4205 Mercury Ave., 1650 +/- sq feet. Brand new construction. Featuring 3bd 2.5 ba. Open floor-plan. Entertainers delight. Gourmet kitchen with island sitting. Bar counters with glass cabinets. From living room, access to the outdoor deck. Multiple view decks for outdoor entertainment. Rented for 4,090.00. 4205 1/2 Mercury Ave., was the existing back house. View galore. about 1000 Square feet. Featuring, 2 storey, 2bd 2.5ba, Totally 100% remodeled in 2024. Brand new kitchen, plumbing, bathrooms, electrical, roof, windows, water heater, doors, flooring, central air/heat, electric panel and much, much more. Private outdoor patio with panoramic views. Rented for $3,075.00. 4205 1/4 is studio. about 300 +/- square feet. Rented 1,975.00. The property is located in the Montecito Heights area. It's LA's up and coming neighborhood. California living at its finest. Close to Fwy, DTLA & Pasadena. ALL tenants are Section 8 tenant. Rents are on time and guaranteed. FOR THE OWNER OCCUPANCY buyers, the 4205 lease terminates on 4/8/2025 and 4205 1/2 lease terminates on 5/8/2025. The rents are at PREMIUM and ACTUAL. You can also use the supplemental rent income for loan qualification.

Price History

Date
Event
Price
11/27/18
Sold
$325,000
Condition Rating
Excellent
This property consists of a brand new construction home (built 2024) and two additional units that were 100% remodeled in 2024, including new kitchens, bathrooms, plumbing, electrical, roof, windows, and HVAC. The images confirm a modern aesthetic with new hardwood flooring, recessed lighting, contemporary kitchen cabinets and countertops, and stylishly tiled bathrooms with new fixtures. All components are new or virtually new, meeting current quality standards with no deferred maintenance.
Pros & Cons

Pros

Strong Income Generation: The property features three separate units (two detached homes and a JADU) with guaranteed Section 8 rental income totaling $9,140/month, offering immediate and stable cash flow.
New Construction & Extensive Renovation: The front house is brand new (2024), and the back house was fully remodeled in 2024, including all major systems, significantly reducing immediate maintenance concerns.
Flexible Living & Investment Opportunity: Ideal for owner-occupants seeking future residency (leases terminate 2025) while benefiting from substantial rental income, or as a pure, high-yield investment property.
Desirable Location with Views: Situated in the 'up and coming' Montecito Heights, offering convenient access to DTLA and Pasadena, complemented by panoramic city lights, canyon, and hills views from multiple units.
Modern Design & Amenities: Features include open floor plans, gourmet kitchens with islands, and multiple outdoor view decks, providing contemporary living spaces and entertainment options.

Cons

Current Tenant Occupancy: All units are currently tenant-occupied with leases extending into 2025, which may delay immediate owner occupancy and could present challenges for showings or buyer transitions.
Section 8 Tenant Specifics: While rents are guaranteed, the exclusive Section 8 tenancy might be a specific consideration for some buyers who prefer market-rate tenants or have different management preferences.
Compact Lot Size: The 4,424 sq ft lot, accommodating three separate units, could result in limited private outdoor space for each dwelling, potentially impacting perceived spaciousness.

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