531 S Hillview Avenue, Los Angeles, California 90022, Los Angeles, 90022 - bed, bath
ACTIVE$1,140,000
531 S Hillview Avenue, Los Angeles, California 90022
0Bed
0Bath
2Sqft
4,895Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Multi-Unit Income Potential: With six units (5 x 1-bedroom, 1 x studio), the property offers a robust and diversified rental income stream, appealing strongly to investors.
Top Cons:
Restricted Access for Due Diligence: The 'Drive by only. Write your offers subject to Interior inspection' clause severely limits initial buyer inspection, raising concerns about potential hidden issues and complicating the offer process.
Compared to the nearby listings
Price:$1.14M vs avg $1.26M ($-117,500)50%
Size:2 sqft vs avg 2,430 sqft50%
Price/sqft:$570.0K vs avg $285.1K50%
More Insights
Built in 1939 (86 years old).
Condition: The property, built in 1939, exhibits significant signs of age and deferred maintenance. The kitchens feature outdated cabinets, laminate countertops, and freestanding appliances, while bathrooms have basic, older tile and fixtures, all requiring full renovation. Interior walls show wear and patching, and flooring is a mix of older tile, laminate, and carpet. The presence of wall-mounted heaters indicates a lack of central HVAC. The overall condition suggests substantial repairs and rehabilitation are needed to bring the units to a comfortable and modern standard, aligning with the 'Poor' classification. The 'Drive by only' note in the description further implies potential interior issues.
Year Built
1939
Close
-
List price
$1.14M
Original List price
$1.01M
Price/Sqft
$570,000
HOA
-
Days on market
-
Sold On
-
MLS number
DW25110409
Home ConditionPoor
Features
Patio
View-
About this home
6 Units in a great East LA neighborhood. 5 units are 1 bedroom each and 1 of the units is a studio. 4 one car garages with alley access. Coin operated laundry room. 4 units are one building and the studio unit along with a 1 bedroom unit are built over the garages area. Located near public transportation, shopping and schools. Drive by only. Write your offers subject to Interior inspection.
Condition Rating
Poor
The property, built in 1939, exhibits significant signs of age and deferred maintenance. The kitchens feature outdated cabinets, laminate countertops, and freestanding appliances, while bathrooms have basic, older tile and fixtures, all requiring full renovation. Interior walls show wear and patching, and flooring is a mix of older tile, laminate, and carpet. The presence of wall-mounted heaters indicates a lack of central HVAC. The overall condition suggests substantial repairs and rehabilitation are needed to bring the units to a comfortable and modern standard, aligning with the 'Poor' classification. The 'Drive by only' note in the description further implies potential interior issues.
Pros & Cons
Pros
Multi-Unit Income Potential: With six units (5 x 1-bedroom, 1 x studio), the property offers a robust and diversified rental income stream, appealing strongly to investors.
Desirable East LA Location: Located in a 'great East LA neighborhood' with proximity to public transportation, shopping, and schools, enhancing tenant appeal and long-term value.
Additional Revenue Stream: The presence of a coin-operated laundry room provides an ancillary income source for the owner, boosting overall profitability.
Valuable Dedicated Parking: Four one-car garages with alley access are a significant amenity in a dense urban area like Los Angeles, offering convenience for tenants and potentially higher rental rates.
Established Investment Type: As a multi-unit residential property, it represents a stable and proven investment opportunity in a high-demand rental market.
Cons
Restricted Access for Due Diligence: The 'Drive by only. Write your offers subject to Interior inspection' clause severely limits initial buyer inspection, raising concerns about potential hidden issues and complicating the offer process.
Advanced Age of Property: Built in 1939, the property is quite old, suggesting potential for deferred maintenance, outdated systems (plumbing, electrical), and higher renovation costs.
Unit Configuration Over Garages: The studio and one 1-bedroom unit being built over the garages might present unique structural, noise, or aesthetic considerations, potentially impacting tenant desirability or requiring specific maintenance.