507 S Grande Vista Avenue, Los Angeles, California 90063, Los Angeles, 90063 - 5 bed, 3 bath
ACTIVE$808,000
507 S Grande Vista Avenue, Los Angeles, California 90063
5Beds
3Baths
2,278Sqft
6,345Lot
Year Built
1914
Close
-
List price
$808K
Original List price
$785K
Price/Sqft
$355
HOA
-
Days on market
-
Sold On
-
MLS number
SW25023952
Home ConditionPoor
Features
View
About this home
We found 3 Cons,5 Pros. Rank: price - $808.0K(56th), sqft - 2278(56th), beds - 5(84th), baths - 3(84th).
**GREAT OPPORTUNITY FOR INVESTORS OR HOME BUYERS!** This property is zoned for a triplex lot, making it an excellent investment opportunity in Boyle Heights! It is not subject to Los Angeles City's rent control regulations, as it is in Los Angeles County. This investment opportunity could involve remodeling the existing house(s) or upgrading the two to create three residential units. The area offers highly desirable cap rate returns, lower vacancy rates, steady income, and long-term stability. The property is conveniently located in the West City Terrace/North Boyle Heights area, below the I-10 freeway in a vibrant neighborhood. With zoning for three units, this lot presents a fantastic chance for redevelopment. Please note that the interested buyer does "NOT subject seller to ANY CLOSING CONDITION(s)." Don’t miss out on this opportunity! Additionally, under no circumstances should you disturb the property.
Nearby schools
5/10
Euclid Avenue Elementary School
Public,•K-5•0.3mi
2/10
First Street Elementary School
Public,•K-6•0.5mi
2/10
Lorena Street Elementary School
Public,•K-5•0.6mi
5/10
Sunrise Elementary School
Public,•K-6•0.6mi
4/10
Malabar Street Elementary School
Public,•K-6•0.9mi
3/10
Belvedere Elementary School
Public,•K-5•0.9mi
4/10
Breed Street Elementary School
Public,•K-6•0.9mi
4/10
Soto Street Elementary School
Public,•K-6•0.9mi
5/10
Rowan Avenue Elementary School
Public,•K-5•0.9mi
4/10
Christopher Dena Elementary School
Public,•K-6•1.0mi
/10
Amanecer Primary Center
Public,•K-2•1.1mi
/10
Garza (Carmen Lomas) Primary Center
Public,•K-2•1.1mi
3/10
Sheridan Street Elementary School
Public,•K-6•1.2mi
4/10
Second Street Elementary School
Public,•K-6•1.2mi
4/10
Evergreen Avenue Elementary School
Public,•K-6•1.3mi
5/10
Eastman Avenue Elementary School
Public,•K-5•1.4mi
4/10
Bridge Street Elementary School
Public,•K-5•1.6mi
3/10
Harrison Street Elementary School
Public,•K-6•1.6mi
2/10
Murchison Street Elementary School
Public,•K-6•1.8mi
4/10
Griffin Avenue Elementary School
Public,•K-5•2.4mi
5/10
Ninth Street School
Public,•K-5•2.6mi
4/10
Gates Street Elementary School
Public,•K-5•2.7mi
3/10
Albion Street Elementary School
Public,•K-6•2.7mi
3/10
Ann Street Elementary School
Public,•K-6•2.7mi
6/10
Hollenbeck Middle School
Public,•6-8•0.6mi
3/10
Robert Louis Stevenson Middle School
Public,•6-8•0.8mi
4/10
Belvedere Middle School
Public,•6-8•1.2mi
4/10
Utah Street Elementary School
Public,•K-8•1.7mi
6/10
Vernon City Elementary School
Public,•K-7•2.7mi
4/10
Chester W. Nimitz Middle School
Public,•6-8•3.3mi
5/10
El Sereno Middle School
Public,•6-8•3.4mi
3/10
Henry T. Gage Middle School
Public,•6-8•3.7mi
5/10
Florence Nightingale Middle School
Public,•6-8•3.8mi
5/10
STEM Academy of Boyle Heights HS
Public,•9-12•0.5mi
3/10
Theodore Roosevelt Senior High
Public,•9-12•0.7mi
5/10
Felicitas And Gonzalo Mendez High
Public,•9-12•1.8mi
7/10
James A. Garfield Senior High School
Public,•9-12•2.6mi
4/10
Woodrow Wilson Senior High School
Public,•9-12•2.7mi
5/10
Abraham Lincoln Senior High School
Public,•9-12•2.8mi
4/10
Huntington Park Senior High School
Public,•9-12•3.4mi
5/10
Maywood Academy High
Public,•9-12•3.6mi
5/10
Bell Senior High School
Public,•9-12•4.1mi
4/10
Elizabeth Learning Center
Public,•K-12•5.0mi
Condition Rating
Poor
Built in 1914, this property is over a century old and shows clear signs of significant deferred maintenance from the exterior image. The listing explicitly states it's an investment opportunity requiring 'remodeling' or 'upgrading' to create residential units, indicating substantial work is needed. Crucially, the seller's conditions ('NOT subject seller to ANY CLOSING CONDITION(s)' and 'under no circumstances should you disturb the property') strongly suggest major defects, potential safety issues, or an unlivable interior that the seller wishes to prevent inspection of. Without interior images, it's impossible to assess the kitchen and bathrooms directly, but given the age and the seller's restrictions, they are undoubtedly in very poor, outdated, and likely non-functional condition, requiring complete replacement and rehabilitation.
Pros & Cons
Pros
Triplex Zoning & Redevelopment Potential: The property is explicitly zoned for a triplex, offering significant opportunities for investors to remodel existing structures or create three residential units.
Rent Control Exemption: A major advantage for investors, as the property is located in Los Angeles County and not subject to Los Angeles City's stringent rent control regulations.
Strong Investment Fundamentals: The description highlights desirable cap rate returns, lower vacancy rates, steady income, and long-term stability, appealing directly to investors.
Strategic Location: Conveniently located in the vibrant West City Terrace/North Boyle Heights area, offering good accessibility and community appeal.
Existing Income Property Classification: Already categorized as 'Residential Income' and 'Triplex,' streamlining its appeal and potential financing for investors.
Cons
Strict Buyer Conditions: The seller's requirement that the buyer 'does NOT subject seller to ANY CLOSING CONDITION(s)' places significant risk on the buyer, limiting typical due diligence and contingencies.
Restricted Property Access/Inspection: The instruction 'under no circumstances should you disturb the property' suggests potential difficulties in conducting thorough inspections or viewing the interior, which is crucial for an investment property.
Significant Renovation Required: Built in 1914, the property will likely require substantial capital investment for remodeling, upgrades, and bringing it to modern standards suitable for a triplex conversion, impacting immediate cash flow or development timelines.