5150 Ithaca Avenue, Los Angeles, California 90032, Los Angeles, 90032 - 9 bed, 8 bath

5150 Ithaca Avenue, Los Angeles, California 90032 home-pic-0
ACTIVE$1,400,000
5150 Ithaca Avenue, Los Angeles, California 90032
9Beds
8Baths
2,500Sqft
4,801Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Multi-Unit Income Property: A 4-unit residential income property, including a newly constructed ADU, offering diversified rental income streams and investor flexibility.
Top Cons:
Lack of Scenic Views: The property does not offer any scenic views, which could be a disadvantage in the Los Angeles market where views often contribute significantly to property value and tenant appeal.

Compared to the nearby listings

Price:$1.40M vs avg $797.5K (+$602,500)92%
Size:2,500 sqft vs avg 1,850 sqft83%
Price/sqft:$560 vs avg $46867%

More Insights

Built in 1988 (37 years old).
Condition: This property features a newly constructed ADU and a fully remodeled Unit #2, both boasting modern, high-end finishes. The kitchens are equipped with new stainless steel appliances, sleek quartz countertops, farmhouse-style sinks, custom cabinetry, and subway tile backsplashes with floating wood shelves. Bathrooms are luxurious with floor-to-ceiling matte-black tile, rainfall showerheads, floating vanities, and backlit LED mirrors. New mini-split HVAC systems, recessed lighting, and light-toned wood flooring are present in these updated units, indicating virtually new components and meeting current quality standards. While the original structure dates to 1988, the extensive recent renovations and new construction of half the units elevate the overall property condition to excellent.
Year Built
1988
Close
-
List price
$1.4M
Original List price
$1.5M
Price/Sqft
$560
HOA
-
Days on market
-
Sold On
-
MLS number
PW25059012
Home ConditionExcellent
Features
View-

About this home

5150 Ithaca Ave is a 4 Unit property featuring a 3Bed/2Bath, and three (3) 2Beb/2Bath units. The rear ADU is New Construction with all modern interior, fixtures, materials, and appliances. Unit #2 is fully remodeled and modernized, seamlessly blending contemporary aesthetics with income-generating potential. Originally built as a triplex in 1988, this property features a newly constructed ADU (#5152) with a private rear entrance, adding tremendous value and flexibility for investors. Modern Exterior & Architectural Appeal Striking black corrugated metal façade with natural wood eaves, creating an industrial-modern aesthetic. Dual-level design with an elevated living space above and a spacious, well-lit garage below. Newly built ADU (#5152) in the rear, maintaining the same high-quality construction and sleek design, and including 3 car ports below the unit with access to rear alley. Ample parking and storage within the garage structure. Sleek & Contemporary Interiors Each unit has been meticulously designed to offer modern sophistication while optimizing functionality: Open-Concept Kitchens – Outfitted with stainless steel appliances, sleek quartz countertops, farmhouse-style sinks, and custom cabinetry. Subway tile backsplashes with floating wood shelves add warmth and a contemporary edge. Spacious Living Areas – Light-toned wood flooring complements the neutral color palette, creating a bright, inviting atmosphere. Luxury Bathrooms – Floor-to-ceiling matte-black tile, rainfall showerheads, floating vanities, and backlit LED mirrors enhance the contemporary elegance. Serene Bedrooms – Large windows provide abundant natural light, complemented by custom built-in closets and recessed lighting. New mini-split (ductless) HVAC systems, recessed lighting. Prime Location with Strong Investment Potential Strategically positioned for high rental demand, this property offers: Proximity to Cal State Los Angeles, Downtown LA, Dodger Stadium, Union Station, and the Arts District. Convenient access to 710, 5, and 10 freeways, ensuring seamless commuting options. A highly desirable urban environment attracting long-term tenants and professionals.

Price History

Date
Event
Price
06/23/21
Sold
$800,000
12/27/10
Sold
$366,000
02/12/07
Sold
$575,000
Condition Rating
Excellent

This property features a newly constructed ADU and a fully remodeled Unit #2, both boasting modern, high-end finishes. The kitchens are equipped with new stainless steel appliances, sleek quartz countertops, farmhouse-style sinks, custom cabinetry, and subway tile backsplashes with floating wood shelves. Bathrooms are luxurious with floor-to-ceiling matte-black tile, rainfall showerheads, floating vanities, and backlit LED mirrors. New mini-split HVAC systems, recessed lighting, and light-toned wood flooring are present in these updated units, indicating virtually new components and meeting current quality standards. While the original structure dates to 1988, the extensive recent renovations and new construction of half the units elevate the overall property condition to excellent.
Pros & Cons

Pros

Multi-Unit Income Property: A 4-unit residential income property, including a newly constructed ADU, offering diversified rental income streams and investor flexibility.
Extensive Modern Renovations: Features meticulously designed modern interiors, high-end finishes, and new mini-split HVAC systems in the ADU and Unit #2, appealing to a broad tenant base.
Strategic Urban Location: Prime Los Angeles location with excellent proximity to major employment hubs, universities, entertainment, and seamless freeway access, ensuring strong rental demand.
Contemporary Design & Ample Parking: Boasts a striking industrial-modern exterior and provides ample parking with a spacious garage and dedicated carports for the ADU, enhancing curb appeal and tenant convenience.
High Rental Demand Area: Situated in a highly desirable urban environment known for attracting long-term tenants and professionals, supporting consistent occupancy and investment stability.

Cons

Lack of Scenic Views: The property does not offer any scenic views, which could be a disadvantage in the Los Angeles market where views often contribute significantly to property value and tenant appeal.
Recent Price Reductions: Multiple price reductions from the original list price may indicate an initial overvaluation or challenges in attracting offers, potentially signaling market resistance.
Potentially Compact Unit Sizes: The total square footage of 2500 sqft for four units (one 3B/2B and three 2B/2B) suggests that individual unit sizes may be relatively compact, which could limit appeal to certain tenant demographics.

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