422 N Mott Street, Los Angeles, California 90033, Los Angeles, 90033 - bed, bath
ACTIVE$655,000
422 N Mott Street, Los Angeles, California 90033
0Bed
0Bath
1,900Sqft
3,732Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Income-Generating Duplex: The property is a duplex, offering excellent potential for rental income or an owner-occupier to live in one unit and rent out the other, maximizing investment returns.
Top Cons:
Age and Required Renovations: Built in 1924, the property likely requires substantial updates and upgrades, as implied by the pricing strategy, necessitating significant immediate capital expenditure from the buyer.
Compared to the nearby listings
Price:$655.0K vs avg $727.5K ($-72,500)38%
Size:1,900 sqft vs avg 1,997 sqft44%
Price/sqft:$345 vs avg $36150%
More Insights
Built in 1924 (101 years old).
Condition: Built in 1924, this property is explicitly marketed as an investment opportunity requiring significant updates and upgrades, with the listing stating it's 'Priced for you to have capital to do any updates or upgrades you desire prior to moving in.' The exterior images show an aged structure with visible wear and tear. Without interior photos, and given the strong emphasis on needed renovations, it's highly probable that the kitchen, bathrooms, and other interior components are severely outdated and require substantial rehabilitation to meet modern standards, aligning with the 'Poor' condition criteria.
Year Built
1924
Close
-
List price
$655K
Original List price
$655K
Price/Sqft
$345
HOA
-
Days on market
-
Sold On
-
MLS number
DW24254622
Home ConditionPoor
Features
View-
About this home
BACK ON THE MARKET More Improvements! Lots of meat on the bone for your investor. Property has free unit. 2 Unit property perfectly & centrally located to downtown LA. 10 min. 1 block from newly renovated Boys and Girls club and close to world famous El Tepeyac Cafe for world famous Hollenbeck Burrito. Perfect for an investor or Live in 1 rent the other. Motivated seller and priced to sell quickly. Priced for you to have capital to do any updates or upgrades you desire prior to moving in. show and sell.
Condition Rating
Poor
Built in 1924, this property is explicitly marketed as an investment opportunity requiring significant updates and upgrades, with the listing stating it's 'Priced for you to have capital to do any updates or upgrades you desire prior to moving in.' The exterior images show an aged structure with visible wear and tear. Without interior photos, and given the strong emphasis on needed renovations, it's highly probable that the kitchen, bathrooms, and other interior components are severely outdated and require substantial rehabilitation to meet modern standards, aligning with the 'Poor' condition criteria.
Pros & Cons
Pros
Income-Generating Duplex: The property is a duplex, offering excellent potential for rental income or an owner-occupier to live in one unit and rent out the other, maximizing investment returns.
Strategic Central Location: Centrally located just 10 minutes from Downtown Los Angeles, providing convenient access to major employment centers, entertainment, and urban amenities.
Value-Add Investment Opportunity: Explicitly marketed for investors with 'meat on the bone' and priced to allow for updates, indicating significant potential for value appreciation through renovation and modernization.
Desirable Local Amenities: Proximity to a newly renovated Boys and Girls Club and the world-famous El Tepeyac Cafe enhances the neighborhood's appeal and convenience for residents.
Motivated Seller & Competitive Pricing: The seller is motivated and the property is priced to sell quickly, offering a potentially advantageous acquisition cost for buyers willing to invest in upgrades.
Cons
Age and Required Renovations: Built in 1924, the property likely requires substantial updates and upgrades, as implied by the pricing strategy, necessitating significant immediate capital expenditure from the buyer.
Back on Market Status: Being 'BACK ON THE MARKET' could indicate previous transaction issues, potentially related to property condition, inspection findings, or buyer financing, which warrants further investigation.
Potential for Vacancy/Income Gap: The mention of a 'free unit' suggests a vacant unit, which while offering flexibility, also means a period without full rental income until it is renovated and leased.