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5881 S Broadway, Los Angeles, California 90003, Los Angeles, 90003 - bed, bath

5881 S Broadway, Los Angeles, California 90003 home-pic-0
ACTIVE$699,999
5881 S Broadway, Los Angeles, California 90003
0Bed
0Bath
2,200Sqft
2,787Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Multi-Use Zoning: The property's zoning allows for both residential and commercial use, providing flexibility for various investment strategies or owner-user scenarios.
Top Cons:
Tenant Status: The front unit is occupied by month-to-month tenants, which may require navigating tenant relocation or renegotiation depending on the buyer's plans.

Compared to the nearby listings

Price:$700.0K vs avg $735.0K ($-35,001)40%
Size:2,200 sqft vs avg 1,902.5 sqft67%
Price/sqft:$318 vs avg $36529%

More Insights

Built in 1927 (98 years old).
Condition: The property was built in 1927 but remodeled 4 years ago. The description mentions new flooring and updated appliances. The kitchen appears functional with stainless steel appliances, but the cabinets look dated. The bathrooms are not clearly visible in the images. Overall, the property seems maintained but not fully renovated to a modern standard, placing it in fair condition.
Year Built
1927
Close
-
List price
$700K
Original List price
$700K
Price/Sqft
$318
HOA
-
Days on market
-
Sold On
-
MLS number
DW25168129
Home ConditionFair
Features
View-

About this home

Versatile Multi-Use Zoned Property – Ideal for Residential or Commercial Use This unique multi-use zoned property offers exceptional flexibility, currently configured and leased as residential units, but also suitable for commercial use. Both detached units were fully remodeled four years ago and feature modern updates, including: New flooring throughout Updated appliances Modern HVAC systems Washer/dryer hookups in the rear unit Unit Details: Front Unit: 1 bed / 1 bath | Approx. 500 sq ft | Month-to-month tenants Rear Unit: 4 bed / 2.5 bath (two-story) | Approx. 1,700 sq ft | Will be delivered vacant at the close of escrow. Property Highlights: Detached units with no shared walls. Gated alley access with parking for up to 4 vehicles. Separate electric meters for each unit. Whether you're an investor looking for strong rental income or an owner-user exploring commercial possibilities, this property offers rare versatility in a desirable location.

Price History

Date
Event
Price
11/19/99
Sold
$148,500
09/18/96
Sold
$36,000
04/15/96
Sold
$35,000
04/26/17
Sold
$250,000
03/26/03
Sold
$140,000
Condition Rating
Fair
The property was built in 1927 but remodeled 4 years ago. The description mentions new flooring and updated appliances. The kitchen appears functional with stainless steel appliances, but the cabinets look dated. The bathrooms are not clearly visible in the images. Overall, the property seems maintained but not fully renovated to a modern standard, placing it in fair condition.
Pros & Cons

Pros

Multi-Use Zoning: The property's zoning allows for both residential and commercial use, providing flexibility for various investment strategies or owner-user scenarios.
Remodeled Units: Both units were fully remodeled four years ago, featuring new flooring, updated appliances, and modern HVAC systems, reducing immediate renovation costs.
Separate Detached Units: The property consists of two detached units with no shared walls, offering increased privacy and independence for tenants or occupants.
Parking: Gated alley access provides parking for up to 4 vehicles, a valuable asset in Los Angeles.
Separate Electric Meters: Each unit has its own electric meter, simplifying utility management and billing for tenants or owners.

Cons

Tenant Status: The front unit is occupied by month-to-month tenants, which may require navigating tenant relocation or renegotiation depending on the buyer's plans.
Age of Property: Built in 1927, the property may have underlying structural or system issues common in older buildings, requiring thorough inspection.
Lot Size: The lot size is relatively small, which may limit future expansion or development possibilities.

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