537 Bradshawe Avenue, Los Angeles, California 90022, Los Angeles, 90022 - bed, bath
ACTIVE$1,250,000
537 Bradshawe Avenue, Los Angeles, California 90022
0Bed
0Bath
3,384Sqft
8,733Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Significant Value-Add Opportunity: Approved plans are in place to legalize the existing 4th unit and construct an additional ADU as a 5th unit, with the project in the 'Ready to Issue' phase, offering substantial potential for increased income and property value.
Top Cons:
Partial HVAC System: Units feature 'partial HVAC systems,' which may not provide comprehensive climate control throughout all units or rooms, potentially impacting tenant comfort or requiring future upgrades.
Compared to the nearby listings
Price:$1.25M vs avg $820.0K (+$430,000)94%
Size:3,384 sqft vs avg 1,994 sqft88%
Price/sqft:$369 vs avg $40135%
More Insights
Built in 1949 (76 years old).
Condition: Built in 1949, this property's interiors, particularly the kitchens and bathrooms, are visibly dated. They feature older cabinets, laminate countertops, white appliances, and linoleum/vinyl flooring, suggesting renovations from 15-30+ years ago. While described as 'well-maintained' and functional, the property requires significant cosmetic and system updates (including the 'partial HVAC systems') to meet modern standards and tenant expectations, aligning with the 'Fair' condition criteria.
Year Built
1949
Close
-
List price
$1.25M
Original List price
$1.25M
Price/Sqft
$369
HOA
-
Days on market
-
Sold On
-
MLS number
PF25095393
Home ConditionFair
Features
Patio
View-
About this home
Attractive 4-unit apartment building in East Los Angeles, adjacent to the City of Montebello. Units are well-maintained and feature partial HVAC systems. The property also offers coin-operated laundry facilities for tenant convenience. Approved plans are in place with the County of Los Angeles to legalize the existing 4th unit and construct an additional ADU as a 5th unit. The project is in the 'Ready to Issue' phase. This presents a prime opportunity for an investor seeking a value-add property.
Price History
Date
Event
Price
10/21/19
Sold
$779,000
Condition Rating
Fair
Built in 1949, this property's interiors, particularly the kitchens and bathrooms, are visibly dated. They feature older cabinets, laminate countertops, white appliances, and linoleum/vinyl flooring, suggesting renovations from 15-30+ years ago. While described as 'well-maintained' and functional, the property requires significant cosmetic and system updates (including the 'partial HVAC systems') to meet modern standards and tenant expectations, aligning with the 'Fair' condition criteria.
Pros & Cons
Pros
Significant Value-Add Opportunity: Approved plans are in place to legalize the existing 4th unit and construct an additional ADU as a 5th unit, with the project in the 'Ready to Issue' phase, offering substantial potential for increased income and property value.
Established Income Property: As a 4-unit apartment building (quadruplex), the property provides immediate and consistent rental income, making it an attractive asset for investors.
Tenant-Friendly Amenities: The inclusion of coin-operated laundry facilities offers convenience for tenants and provides an additional revenue stream for the property owner.
Well-Maintained Condition: Units are described as 'well-maintained,' suggesting a lower immediate capital expenditure for repairs and maintenance for a new owner.
Desirable Location: Located in East Los Angeles, adjacent to the City of Montebello, the property benefits from a strong rental market and good accessibility within the Los Angeles area.
Cons
Partial HVAC System: Units feature 'partial HVAC systems,' which may not provide comprehensive climate control throughout all units or rooms, potentially impacting tenant comfort or requiring future upgrades.
Age of Building: Built in 1949, the property is over 70 years old, which could lead to higher long-term maintenance costs, the need for system replacements, or require updates to meet modern tenant expectations.
Execution Risk for Value-Add: While plans for the ADU and legalization are approved, the buyer will still be responsible for managing and funding the construction and legalization process, which involves time, cost, and potential unforeseen challenges.