602 W 40th Place, Los Angeles, California 90037, Los Angeles, 90037 - bed, bath
ACTIVE$1,699,999
602 W 40th Place, Los Angeles, California 90037
0Bed
0Bath
3,692Sqft
6,752Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
High Income Potential: Explicitly marketed as a 'GREAT INVESTMENT OPPORTUNITY' and a triplex delivered with current, paying tenants, ensuring immediate and diversified rental income.
Top Cons:
Advanced Age of Primary Structure: Built in 1908, the original structure likely requires significant capital expenditure for system upgrades (plumbing, electrical) and general modernization to meet current standards and tenant expectations.
Compared to the nearby listings
Price:$1.70M vs avg $965.0K (+$734,999)96%
Size:3,692 sqft vs avg 2,544 sqft70%
Price/sqft:$460 vs avg $35970%
More Insights
Built in 1908 (117 years old).
Condition: The property, originally built in 1908, shows its age in the visible interior spaces with dated large square tile flooring and basic laminate. While a second-story rear unit was built in 2005, making it 19 years old, the overall property condition, especially for the older units, suggests functional but outdated components. Without images of kitchens and bathrooms, and based on the visible general living areas, it's likely these key areas are also functional but require minor updates or repairs to meet current aesthetic and quality standards. The property is habitable and generating income, but not recently renovated to a 'good' or 'excellent' standard.
Year Built
1908
Close
-
List price
$1.7M
Original List price
$1.7M
Price/Sqft
$460
HOA
-
Days on market
-
Sold On
-
MLS number
DW25200288
Home ConditionFair
Features
View-
About this home
GREAT INVESTMENT OPPORTUNITY! This property offers the perfect combination of location and investment potential. This highly sought after property consist of three units. The front unit has 4 bedrooms and 2 bathrooms on the first floor and 2 bedrooms and 1 bathroom on the 2nd floor. The second story rear unit was built in 2005 and has 4 bedrooms and 2 baths. Ideally located just steps from BMO Stadium and short walk to University of Southern California, Los Angeles Memorial Coliseum, and Natural History Museum of Los Angeles County. Whether you’re looking to generate rental income or create your dream home, 602 W 40th Place offers outstanding opportunity in one of LA’s most connected neighborhoods. Property will be delivered with tenants in all in all units. Tenants are current with rent.
Nearby schools
5/10
Menlo Avenue Elementary School
Public,•K-5•0.4mi
5/10
West Vernon Avenue Elementary School
Public,•K-5•0.4mi
2/10
Marguerite Poindexter Lamotte Elementary
Public,•K-5•0.6mi
/10
Dr. James Edward Jones Primary Center
Public,•K-2•0.8mi
3/10
Trinity Street Elementary School
Public,•K-5•0.8mi
/10
Maple Primary Center
Public,•K-1•0.9mi
3/10
Normandie Avenue Elementary School
Public,•K-5•1.0mi
3/10
Fifty-Second Street Elementary School
Public,•K-5•1.0mi
2/10
Main Street Elementary School
Public,•K-5•1.3mi
2/10
Martin Luther King Jr. Elementary School
Public,•K-5•1.4mi
2/10
Western Avenue Elementary School
Public,•K-5•1.7mi
2/10
Forty-Second Street Elementary School
Public,•K-5•2.1mi
2/10
Tom Bradley Global Awareness Magnet School
Public,•K-5•2.2mi
3/10
Angeles Mesa Elementary School
Public,•K-5•2.4mi
3/10
Sixth Avenue Elementary School
Public,•K-5•2.5mi
3/10
William Jefferson Clinton Middle School
Public,•6-8•0.7mi
2/10
Barack Obama Global Preparation Academy
Public,•6-8•1.6mi
2/10
John Muir Middle School
Public,•6-8•1.7mi
3/10
Los Angeles Academy Middle
Public,•6-8•1.8mi
2/10
Audubon Middle School
Public,•6-8•2.6mi
1/10
Horace Mann Junior High School
Public,•6-8•2.8mi
3/10
Manual Arts Senior High School
Public,•9-12•0.4mi
2/10
Augustus F. Hawkins High A Critical Design And Gaming
Public,•9-12•1.7mi
5/10
Santee Education Complex
Public,•9-12•1.8mi
3/10
Nava College Preparatory Academy
Public,•9-12•1.9mi
1/10
Crenshaw Science, Technology, Engineering, Math And Medicine Magnet
Public,•9-12•2.7mi
Price History
Date
Event
Price
03/19/96
Sold
$190,000
Condition Rating
Fair
The property, originally built in 1908, shows its age in the visible interior spaces with dated large square tile flooring and basic laminate. While a second-story rear unit was built in 2005, making it 19 years old, the overall property condition, especially for the older units, suggests functional but outdated components. Without images of kitchens and bathrooms, and based on the visible general living areas, it's likely these key areas are also functional but require minor updates or repairs to meet current aesthetic and quality standards. The property is habitable and generating income, but not recently renovated to a 'good' or 'excellent' standard.
Pros & Cons
Pros
High Income Potential: Explicitly marketed as a 'GREAT INVESTMENT OPPORTUNITY' and a triplex delivered with current, paying tenants, ensuring immediate and diversified rental income.
Exceptional Location & Walkability: Strategically located steps from BMO Stadium and a short walk to USC, LA Memorial Coliseum, and Natural History Museum, appealing to a broad tenant base including students and event-goers.
Multi-Unit Configuration: A triplex with varied unit sizes (4B/2B, 2B/1B, 4B/2B) maximizes rental income potential and offers flexibility in tenant demographics.
Partial Modern Construction: The second-story rear unit, built in 2005, provides a newer component to the property, potentially reducing immediate renovation needs for that specific unit.
Generous Property Size: Boasting 3692 sqft of living space on a 6752 sqft lot, offering substantial physical assets and potential for value appreciation in a desirable urban area.
Cons
Advanced Age of Primary Structure: Built in 1908, the original structure likely requires significant capital expenditure for system upgrades (plumbing, electrical) and general modernization to meet current standards and tenant expectations.
Tenant Occupied Delivery Challenges: While providing income, the property being delivered with all units tenant-occupied may limit immediate owner-occupancy options or complicate extensive renovation plans due to tenant rights and potential relocation costs in Los Angeles.
Risk of Deferred Maintenance: The age of the property (excluding the 2005 addition) suggests a higher probability of deferred maintenance issues, which could lead to unforeseen repair costs and impact net operating income.