612 E 82nd Street 1, Los Angeles, California 90001, Los Angeles, 90001 - bed, bath
ACTIVE$724,999
612 E 82nd Street 1, Los Angeles, California 90001
0Bed
0Bath
2,088Sqft
5,742Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Significant Rental Upside: The property offers approximately 55% in rental upside, presenting a substantial opportunity for investors to increase income.
Top Cons:
Historic Property Age: Built in 1929, the property is nearly a century old, suggesting potential for outdated systems, deferred maintenance, and higher renovation costs.
Compared to the nearby listings
Price:$725.0K vs avg $714.0K (+$10,999)64%
Size:2,088 sqft vs avg 1,323 sqft86%
Price/sqft:$347 vs avg $48414%
More Insights
Built in 1929 (96 years old).
Condition: Built in 1929, this property is aged but appears to be maintained. The visible bathroom features functional but dated tiles and fixtures, suggesting renovations were done 15-30 years ago. The description highlights it as a 'value-add opportunity,' indicating that while it's habitable, it requires minor updates to unlock its full income potential. There are no clear images of the kitchen, but based on the overall condition, it's likely functional but also outdated. The property is not in disrepair or unsafe, but it's far from modern or recently renovated.
Year Built
1929
Close
-
List price
$725K
Original List price
$725K
Price/Sqft
$347
HOA
-
Days on market
-
Sold On
-
MLS number
SB25193467
Home ConditionFair
Features
Patio
View-
About this home
612 E 82nd St contains (4) 1-Bed/1-Bath BUNGALOW STYLE UNITS! Located in the heart of Los Angles, the property contains approximately 55% in Rental Upside. This asset is ideal for any savvy investor to unlock the income potential which stabilizes at a 9.01% Cap Rate & 8.39 GRM! Built in 1929, the subject property is a 4 unit apartment spread out over 2,088 Sq. Ft situated on a 5,742 Sq. Ft lot, 614 E 82nd St is a unique value-add opportunity in an extremely fast growing rental market of Los Angeles. Just minutes from the 110 fwy with easy access to USC, Downtown LA, Gilbert Lindsay Park, Exposition Park, Lucas Museum, Art's District, The Reef, BMO Stadium, LA Live and billions of dollars worth of development pouring into the neighborhood.
Condition Rating
Fair
Built in 1929, this property is aged but appears to be maintained. The visible bathroom features functional but dated tiles and fixtures, suggesting renovations were done 15-30 years ago. The description highlights it as a 'value-add opportunity,' indicating that while it's habitable, it requires minor updates to unlock its full income potential. There are no clear images of the kitchen, but based on the overall condition, it's likely functional but also outdated. The property is not in disrepair or unsafe, but it's far from modern or recently renovated.
Pros & Cons
Pros
Significant Rental Upside: The property offers approximately 55% in rental upside, presenting a substantial opportunity for investors to increase income.
Attractive Projected Financials: Projected to stabilize at a 9.01% Cap Rate and 8.39 GRM, indicating strong potential returns for a savvy investor.
Strategic Los Angeles Location: Situated in the heart of Los Angeles with excellent freeway access and proximity to major attractions like USC, Downtown LA, and entertainment venues.
Value-Add Investment Opportunity: Explicitly marketed as a unique value-add opportunity in an extremely fast-growing rental market, ideal for capital appreciation.
Diversified Income Stream: As a quadruplex with four 1-Bed/1-Bath units, it provides multiple rental incomes, enhancing investment stability.
Cons
Historic Property Age: Built in 1929, the property is nearly a century old, suggesting potential for outdated systems, deferred maintenance, and higher renovation costs.
Required Capital Investment: Unlocking the stated income potential and value-add opportunity will necessitate significant upfront capital expenditure for renovations and upgrades.
Small Unit Footprint: Each of the four 1-Bed/1-Bath units is relatively small (approx. 522 sqft), which may limit the tenant pool or achievable rental rates compared to larger units.