6333 8th Avenue, Los Angeles, California 90043, Los Angeles, 90043 - bed, bath
ACTIVE$1,050,000
6333 8th Avenue, Los Angeles, California 90043
0Bed
0Bath
3,080Sqft
11,362Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Redevelopment Opportunity: Located in a TOC Tier 3 zone, the R3 zoning allows for potential redevelopment with density bonus incentives.
Top Cons:
Below Market Rents: Current rents are below market value, requiring active management to increase income.
Compared to the nearby listings
Price:$1.05M vs avg $775.0K (+$275,000)89%
Size:3,080 sqft vs avg 1,808 sqft89%
Price/sqft:$341 vs avg $39233%
More Insights
Built in 1926 (99 years old).
Condition: The property was built in 1926. The images show that the bathrooms and kitchens have been updated at some point, but they are not modern or recently renovated. The units appear to be maintained, but the finishes are dated. Therefore, a 'fair' rating is appropriate.
Year Built
1926
Close
-
List price
$1.05M
Original List price
$1.05M
Price/Sqft
$341
HOA
-
Days on market
-
Sold On
-
MLS number
SB25167775
Home ConditionFair
Features
View-
About this home
Well maintained 4-unit property located on a 11,359 Sq.Ft. lot zoned R3 in TOC Tier 3, presents an excellent redevelopment opportunity or adding multiple ADUs(buyer to verify). Property consists of 4 separate buildings - two 1-bedroom units ($989, $2,340) and two 2-bedroom units ($837, $2,650). Property is generating $81,792 of total Rental Income and has very low expenses. With rental upside of over 46% and possibility to add ADUs the property presents an outstanding value-add opportunity. New owner can redevelop the property utilizing density bonus or add two additional units and keep existing structures. In either case, this is investment with huge potential and upside.
Nearby schools
2/10
Yes Academy
Public,•K-5•0.1mi
2/10
Fifty-Ninth Street Elementary School
Public,•K-5•0.5mi
3/10
Seventy-Fourth Street Elementary School
Public,•K-5•0.9mi
3/10
Angeles Mesa Elementary School
Public,•K-5•1.0mi
1/10
Lane (Warren) Elementary School
Public,•K-6•1.0mi
4/10
Centinela Elementary School
Public,•K-6•1.2mi
2/10
Fifty-Fourth Street Elementary School
Public,•K-5•1.2mi
2/10
Forty-Second Street Elementary School
Public,•K-5•1.7mi
3/10
Windsor Hills Math Science
Public,•K-5•1.9mi
1/10
Horace Mann Junior High School
Public,•6-8•1.0mi
2/10
Barack Obama Global Preparation Academy
Public,•6-8•1.7mi
2/10
Audubon Middle School
Public,•6-8•1.9mi
2/10
Crozier (George W.) Middle School
Public,•7-8•2.6mi
3/10
Parent (Frank D.) Elementary School
Public,•K-8•2.7mi
/10
Monroe (Albert F.) Middle School
Public,•6-8•2.9mi
1/10
Crenshaw Science, Technology, Engineering, Math And Medicine Magnet
Public,•9-12•1.1mi
2/10
Inglewood High School
Public,•9-12•2.2mi
2/10
George Washington Preparatory High School
Public,•9-12•3.3mi
9/10
Middle College High School
Public,•9-12•5.9mi
Condition Rating
Fair
The property was built in 1926. The images show that the bathrooms and kitchens have been updated at some point, but they are not modern or recently renovated. The units appear to be maintained, but the finishes are dated. Therefore, a 'fair' rating is appropriate.
Pros & Cons
Pros
Redevelopment Opportunity: Located in a TOC Tier 3 zone, the R3 zoning allows for potential redevelopment with density bonus incentives.
ADU Potential: The large 11,359 Sq.Ft. lot offers the possibility of adding multiple Accessory Dwelling Units (ADUs), increasing rental income.
Value-Add Opportunity: Significant rental upside of over 46% presents a strong value-add opportunity for investors.
Income Generating Property: The property is currently generating $81,792 in total rental income, providing immediate cash flow.
Strategic Location: Located in Los Angeles, offering access to amenities, employment opportunities, and transportation.
Cons
Below Market Rents: Current rents are below market value, requiring active management to increase income.
Age of Property: Built in 1926, the property may require ongoing maintenance and potential upgrades due to its age.
Potential Renovation Costs: While well-maintained, the property may require renovations to maximize its rental potential and attract higher-paying tenants.