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5102 Ithaca Avenue, Los Angeles, California 90032, Los Angeles, 90032 - 4 bed, 3 bath

5102 Ithaca Avenue, Los Angeles, California 90032 home-pic-0
ACTIVE$599,000
5102 Ithaca Avenue, Los Angeles, California 90032
4Beds
3Baths
1,672Sqft
4,808Lot
Year Built
1947
Close
-
List price
$599K
Original List price
$799K
Price/Sqft
$358
HOA
-
Days on market
-
Sold On
-
MLS number
PW24008406
Home ConditionPoor
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $599.0K(17th), sqft - 1672(33th), beds - 4(50th), baths - 3(58th).

***INVESTOR PROPERTY*** Discover an exceptional investment opportunity in a high-demand rental area! This property features three distinct units, offering versatile living arrangements for two or three families, or serving as a lucrative rental investment. As you drive by, take note of the spacious two-bedroom, one-bathroom unit that provides ample living space for a larger family. Additionally, there is a charming one-bedroom, one-bathroom dwelling, perfect for a couple or individual seeking a cozy home. Completing this trio of residences is a bachelor unit, ideal for those looking for a compact and efficient living space. Don't miss out on exploring the potential of these three units in a prime location!

Price History

Date
Event
Price
07/19/23
Sold
$510,000
06/22/22
Sold
$630,000
02/03/17
Sold
$300,000
Condition Rating
Poor
Built in 1947, this property is significantly aged with no evidence of major renovations in decades. The kitchens are extremely outdated, featuring a vintage stove, an old utility sink, and a complete lack of modern cabinetry or fixtures. While no bathroom images are provided, it's highly probable they are in a similar state of disrepair. The exterior shows clear signs of deferred maintenance, and interior finishes are basic and worn (e.g., popcorn ceilings, old windows). The listing itself highlights the property's age and the need for 'updates to major systems' and 'significant capital expenditure,' indicating it requires substantial repairs and rehabilitation to meet current living standards.
Pros & Cons

Pros

Multi-Unit Income Potential: The property is a triplex, offering three distinct units (2-bed, 1-bed, bachelor) which provides multiple income streams and flexibility for investors.
High-Demand Rental Location: Situated in Los Angeles, specifically El Sereno (MLS Area 621), which is identified as a high-demand rental area, ensuring strong tenant interest.
Versatile Living Arrangements: The varied unit sizes cater to a broad range of tenants, from larger families to individuals, maximizing occupancy potential.
Significant Price Reduction: The current list price of $599,000 represents a substantial reduction from the original list price of $799,000, potentially offering an attractive entry point for investors.
Investor-Focused Opportunity: Explicitly marketed as an 'INVESTOR PROPERTY,' highlighting its suitability for rental income generation and potential value-add strategies.

Cons

Property Age: Built in 1947, the property is older, which may indicate a need for updates to major systems (plumbing, electrical, HVAC) and general deferred maintenance.
Lack of Renovation Details: The description does not mention any recent renovations or upgrades, suggesting that significant capital expenditure might be required to modernize the units and attract premium rents.
Limited Property Specifics: The listing provides high-level information, lacking details on interior condition, specific amenities, parking availability, or individual unit features, which could obscure potential issues or costs.

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