4465 Lovett Street, Commerce, California 90040, Commerce, 90040 - 5 bed, 3 bath
ACTIVE$910,000
4465 Lovett Street, Commerce, California 90040
5Beds
3Baths
2,050Sqft
6,517Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Strong Income Potential: As a triplex, the property offers three distinct rental units (1x 3-bed/1-bath, 2x 1-bed/1-bath), providing diversified income streams and making it an attractive investment opportunity.
Top Cons:
Advanced Age of Property: Built in 1947, the property is over 75 years old, suggesting a high likelihood of requiring significant capital expenditures for updates, deferred maintenance, and potential replacement of aging systems (plumbing, electrical, HVAC).
Compared to the nearby listings
Price:$910.0K vs avg $869.0K (+$41,000)67%
Size:2,050 sqft vs avg 2,458 sqft33%
Price/sqft:$444 vs avg $35467%
More Insights
Built in 1947 (78 years old).
Condition: Built in 1947, this property is over 75 years old and shows significant signs of age and deferred maintenance. The kitchen features highly outdated tile countertops and cabinets, requiring a full renovation. Interior spaces have dated tile flooring and basic light fixtures. The presence of window AC units indicates a lack of central heating/cooling. While functional as a rental, the property requires substantial rehabilitation and updates to major systems and aesthetics to meet current standards, aligning with the 'poor' condition criteria.
Year Built
1947
Close
-
List price
$910K
Original List price
$9.5M
Price/Sqft
$444
HOA
-
Days on market
-
Sold On
-
MLS number
CV25133666
Home ConditionPoor
Features
Patio
View-
About this home
HELLO INVESTOR This triplex property features 3 rental units, Unit 1 3 bedroom 1 bath, with a utility room that can be used as a 4th bedroom. Both Units 2 and 3 are 1 bedroom and 1 bath. NOTE: The sellers have a fire Extinguisher service which maintains the fire extinguishers on a yearly bases. This service will be discontinued, at the close of escrow. The new buyer can transfer the fire extinguisher service, at the cost of the new owner.
Condition Rating
Poor
Built in 1947, this property is over 75 years old and shows significant signs of age and deferred maintenance. The kitchen features highly outdated tile countertops and cabinets, requiring a full renovation. Interior spaces have dated tile flooring and basic light fixtures. The presence of window AC units indicates a lack of central heating/cooling. While functional as a rental, the property requires substantial rehabilitation and updates to major systems and aesthetics to meet current standards, aligning with the 'poor' condition criteria.
Pros & Cons
Pros
Strong Income Potential: As a triplex, the property offers three distinct rental units (1x 3-bed/1-bath, 2x 1-bed/1-bath), providing diversified income streams and making it an attractive investment opportunity.
Flexible Unit Configuration: Unit 1 includes a utility room that can be utilized as a 4th bedroom, offering increased rental flexibility and potential for higher income generation.
Dedicated Investor Opportunity: The listing explicitly targets investors, highlighting its primary value proposition as an income-generating asset in a desirable multi-unit property type.
Desirable Multi-Unit Property Type: Triplexes are a sought-after asset class for real estate investors, often providing higher cash flow and stability compared to single-family homes.
Generous Lot Size: The 6517 sqft lot provides ample space, which could offer potential for additional parking, outdoor amenities, or future expansion, subject to local zoning regulations.
Cons
Advanced Age of Property: Built in 1947, the property is over 75 years old, suggesting a high likelihood of requiring significant capital expenditures for updates, deferred maintenance, and potential replacement of aging systems (plumbing, electrical, HVAC).
Immediate Operational Cost Transfer: The current fire extinguisher service will be discontinued at escrow close, transferring an immediate and recurring operational expense to the new buyer.
Limited Property Information: The brief description lacks crucial details regarding the current condition of the units, recent renovations, or current rental income, necessitating extensive due diligence from a prospective buyer.