
Los Angeles, California 90023
This Triplex Residential Income Asset is a Strong Value Opportunity, listed at $599,000—positioned well below the $639,238 Fair Market Value by 6%. This valuation gap offers $40,238 in Instant Equity. With a Condition Rating of 3, the property features extensive capital improvements, including copper plumbing and foundation reinforcement. The 7,508 sq ft LAR2 Zoning provides significant development upside. This is an ideal acquisition for Buy-and-Hold Investors or Value-Add Developers seeking a stable, well-maintained income property in Boyle Heights.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 631 S Evergreen Avenue Subject | $599,000* List Price | 0 | 0 | 2,710 | $236 | - |
A 627 S Soto Active | $749,900 List Price | 0 | 0 | 2,772 | $271 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While built in 1920, the property has over $242k in documented maintenance and upgrades since 2011, including copper repiping, foundation reinforcement, and new windows. One unit was fully remodeled in 2022, and the systems (plumbing, sewer, gas safety) are updated and functional, making it well-maintained and move-in ready.
With over $242,000 in documented upgrades since 2011, including copper plumbing, ABS sewer lines, and foundation reinforcement, the property offers exceptional structural integrity and reduced immediate maintenance needs.
The oversized 7,508 sq ft LAR2 lot provides significant upside for future expansion, ADU additions, or redevelopment in a high-demand area near Downtown Los Angeles.
Situated minutes from the 5, 60, and 101 freeways with views of the Downtown skyline, the property offers excellent connectivity and long-term appreciation potential in Boyle Heights.
The property is subject to LA's Rent Stabilization Ordinance (RSO) with long-term tenants paying well below market rates, which limits immediate cash flow and ROI.
The roof predates 2010, and while currently reported as leak-free, its age suggests it may be nearing the end of its functional lifespan, requiring future capital expenditure.
Some buildings you can read. This one has been in the same family since the 1940s, and they kept the receipts: $242,786 in repairs and improvements from 2011 through 2025, written out year by year. What that bought is a triplex that got taken care of instead of flipped. Copper repiping. New ABS sewer lines. Water heaters. Earthquake gas shutoff valves and smoke and CO detectors in all three units. A front wall on the back house rebuilt after termite damage. Foundation reinforcement, new windows, exterior prep and paint, and a 6 ft metal fence with two gates across the front. The roof predates 2010 and, per seller, has no history of leaks. In 2022, 633 got a full kitchen, laundry, and hall remodel: new cabinets, granite, sink and faucet, stove hood, flooring, and paint. Two of the three tenancies date to 2006, the third to 2014. Priced on what it collects today, not what it could. Duplex in front, separate house in back, one story each. Each vacancy resets to market on its own timeline, and the 7,508 sq ft LAR2 lot is barely working. Downtown skyline off the block, minutes to the 5, 60, and 101. Buyer to verify rents, permits, square footage, unit configuration, and any development potential with the City.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.6 |
| Baths | 0.0 | 3.0 |
| Square foot | 2,710 | 2,187.451 |
| Lot Size | 7,508 | 5,841.385 |
| Price | $599.0K | $841.5K |
| Price per sq ft | $221 | $385 |
| Built year | 1920 | 1928 |
| HOA | $0 | $0 |
| Days on market | 34 | 85 |
Aug 6, 2026
$599,000
Initial Listing