601 S Record Avenue, Los Angeles, California 90023, Los Angeles, 90023 - bed, bath
ACTIVE$950,000
601 S Record Avenue, Los Angeles, California 90023
0Bed
0Bath
2,256Sqft
3,766Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Prime Location: The property boasts a highly desirable corner-lot location with excellent street visibility and consistent neighborhood traffic, making it ideal for business.
Top Cons:
Age of Property: Built in 1915, the property may require ongoing maintenance and potential upgrades due to its age.
Compared to the nearby listings
Price:$950.0K vs avg $1.06M ($-112,500)50%
Size:2,256 sqft vs avg 4,157.5 sqft50%
Price/sqft:$421 vs avg $30850%
More Insights
Built in 1915 (110 years old).
Condition: The property was built in 1915 and appears to have had some updates, but the images show a mix of conditions. The convenience store area seems functional but not recently renovated. The residential units are basic. The exterior and some interior spaces show their age. Overall, it requires minor updates or repairs to bring it up to a more modern standard.
Year Built
1915
Close
-
List price
$950K
Original List price
$1.1M
Price/Sqft
$421
HOA
-
Days on market
-
Sold On
-
MLS number
SR25132251
Home ConditionFair
Features
Patio
View-
About this home
LOCATION LOCATION LOCATION!!! Well-positioned corner-lot mixed-use property featuring a convenience store with a small meat counter on the ground floor, along with two separate 1-bedroom, 1-bathroom apartment units. The upstairs unit includes a private balcony, while the second unit—formerly a garage—has been legally converted with permits. All three units are separately metered, and both apartments operate on month-to-month terms. With bold street visibility and steady neighborhood traffic, this property presents an excellent opportunity for an investor or owner-user. Sale includes inventory: 1 freezer and 2 refrigerators. Contact listing agent for more information!
Price History
Date
Event
Price
03/01/17
Sold
$255,000
10/13/04
Sold
$150,000
03/11/03
Sold
$140,000
Condition Rating
Fair
The property was built in 1915 and appears to have had some updates, but the images show a mix of conditions. The convenience store area seems functional but not recently renovated. The residential units are basic. The exterior and some interior spaces show their age. Overall, it requires minor updates or repairs to bring it up to a more modern standard.
Pros & Cons
Pros
Prime Location: The property boasts a highly desirable corner-lot location with excellent street visibility and consistent neighborhood traffic, making it ideal for business.
Mixed-Use Potential: The property offers a versatile mixed-use configuration, featuring a convenience store and two separate apartment units, providing multiple income streams.
Income Generating: All three units are currently generating income, with the apartments operating on month-to-month terms, offering immediate cash flow.
Separately Metered Units: Each of the three units is separately metered, simplifying utility management and tenant billing.
Legally Converted Unit: The former garage has been legally converted into an apartment unit with permits, ensuring compliance and adding value.
Cons
Age of Property: Built in 1915, the property may require ongoing maintenance and potential upgrades due to its age.
Inventory Included: The inclusion of specific inventory (freezer and refrigerators) might not be desirable for all potential buyers, potentially limiting the buyer pool.
Limited Unit Information: The description lacks details about the condition and features of the apartment units, which could deter some investors.