
Los Angeles, California 90042
This Spanish Revival Quadruplex represents a High-Potential Investment Opportunity with a List Price of $999,000—positioned well below the $1,130,292 Fair Market Value by 11%. This valuation gap provides $131,292 in Instant Equity for an asset featuring a Condition Rating of 5. Located in prime Highland Park, the property offers significant upside through ADU conversion of four detached garages on a LARD1.5 lot and repositioning below-market rents. This value-add asset is an ideal acquisition for Buy-and-Hold Investors or Value-Add Specialists seeking long-term equity growth.
Property is extensive renovation needed.
Built in 1924, this property is a classic 'value-add' investment. While the listing notes newer windows and plumbing, the interiors are severely dated, likely exceeding 30 years since the last major renovation. Kitchens feature aged oak cabinetry and linoleum, bathrooms retain old square tiling and dated vanities, and the presence of popcorn ceilings and window AC units indicates a lack of modern HVAC systems. The property requires a comprehensive rehab to meet modern market standards.
Situated in a high-demand Northeast Los Angeles neighborhood near York Boulevard and Figueroa Street, offering excellent proximity to trendy amenities, the Metro A Line, and major freeways.
Current rents are well below market rates, and the four detached garages on a LARD1.5 lot provide a clear opportunity for ADU conversion to substantially increase the property's income stream.
The property features recent plumbing improvements and newer windows, reducing immediate capital expenditure needs for this classic 1924 Spanish Revival quadruplex.
With a current monthly income of approximately $3,700 against a $999,000 list price, the property offers a low initial cap rate, requiring a long-term repositioning strategy to realize its full financial potential.
The 'drive-by only' restriction and presence of long-term tenants may complicate the initial due diligence process and delay a comprehensive assessment of the interior unit conditions.
Exceptional four-unit Spanish Revival property in the desirable Highland Park neighborhood. This character-rich property features four spacious 1-bedroom, 1-bath residences totaling approximately 3,648 square feet of living space. Two units are located on each level, offering functional floor plans, generous living areas, and abundant natural light. Recent improvements include updated windows and plumbing, while the classic Spanish architecture adds timeless curb appeal. The property also features four detached garage spaces, offering potential for future ADU conversion, subject to buyer's independent investigation. Ideal for investors seeking a well-located multifamily asset or owner-occupants looking to live in one unit while renting the remaining units, this property offers flexibility to accommodate a variety of ownership goals. Ideally situated just moments from the vibrant York Boulevard and Figueroa Street corridors, you'll enjoy convenient access to acclaimed restaurants, cafés, local boutiques, parks, public transportation, Downtown Los Angeles, Pasadena, Glendale, and major freeways. A rare opportunity to own a character-rich multifamily property in one of Northeast Los Angeles's most desirable neighborhoods, combining classic architecture, flexibility, and an exceptional location.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 5.0 |
| Baths | 0.0 | 3.0 |
| Square foot | 3,648 | 2,250 |
| Lot Size | 4,644 | 5,864 |
| Price | $698.0K | $826.7K |
| Price per sq ft | $191 | $395 |
| Built year | 1924 | 1925 |
| HOA | $0 | $0 |
| Days on market | 129 | 83 |
Jul 17, 2026
$698,000
$799,000
-13% Price Drop
Initial Listing
Jul 2, 2026
$799,000
$899,000
-11% Price Drop
Initial Listing
May 21, 2026
$899,000
$999,000
-10% Price Drop
Initial Listing
Mar 16, 2026
$999,000
Initial Listing