651 E 41st, Los Angeles, California 90011, Los Angeles, 90011 - 0 bed, 0 bath
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Los Angeles, California 90011
This Value-Add Triplex Asset represents a High-Potential Investment Opportunity, listed at $1,029,000 which reflects a stable entry at its $1,029,000 Fair Market Value. Holding a Fair Condition Rating, the property features a deck and significant upside via an 800 sqft garage with ADU Conversion Potential. With below-market rents and recent updates like a newer roof and windows, the asset is primed for forced appreciation. It is a strategic acquisition for Buy-and-Hold Investors or Value-Add Operators targeting the high-demand Los Angeles rental market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 651 E 41st Subject | $1,029,000* List Price | 0 | 0 | 4,626 | $222 | - |
A 901 E 33rd Active | $875,000 List Price | 0 | 0 | 3,672 | $238 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1940, this multi-unit property has received some capital improvements like a newer roof and windows, which are positive. However, the description emphasizes its 'value-add' potential and notes the likelihood of older plumbing and electrical systems. The exterior images show a property that is maintained but clearly aged, with some wear and tear on paint and wood elements. Without interior photos, and given the 'value-add' nature, it's highly probable that kitchens, bathrooms, and other interior finishes are outdated and would require significant renovation to meet current market standards and achieve higher rents. This aligns with the 'Fair' category, indicating an aged but maintained property with functional but outdated major components, requiring minor to moderate updates.
The property offers substantial upside potential through raising below-market rents and leveraging a vacant unit for immediate market-rate leasing or owner-occupancy.
An 800 sq ft vacant garage presents a clear opportunity to add an Accessory Dwelling Unit, significantly increasing the property's income stream and overall value.
Key updates including a newer roof and windows minimize immediate maintenance costs and enhance the property's long-term durability and appeal.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =7553, other record lot size in square feet = 7750. Living area discrepancy between mls listing and other public or private record. mls listing living area = 4626, other record living area = 2041.
Built in 1940, the property's age suggests potential for older systems (e.g., plumbing, electrical) that may require future upgrades or significant maintenance beyond recent improvements.
While offering upside, the existing below-market rents mean current cash flow is not maximized, and achieving market rates may necessitate tenant turnover or additional unit renovations.
Excellent value-add 3-unit multifamily investment in Los Angeles with strong in-place income and upside potential. The property features three (3) spacious 2-bedroom / 1-bath units with approximately 4,626 square feet of building area on an approximately 7,551 square foot lot. Current rents are below market, with estimated market and voucher rents of approximately $2,887 per unit. One unit is anticipated to be delivered vacant at close, providing flexibility for a new owner to establish market rent or pursue an owner-user strategy. Recent capital improvements include a newer roof and newer windows, which may reduce near-term maintenance. All utilities are separately metered, contributing to efficient operations. On-site parking enhances tenant appeal. Additional value-add opportunity: An approximately 800 square foot garage, anticipated to be delivered vacant, may offer potential for conversion to an accessory dwelling unit (ADU), subject to buyer verification and approval by the City of Los Angeles / LADBS. Buyer to conduct their own investigations regarding zoning, permits, feasibility, and allowable uses. Well suited for investors, 1031 exchange buyers, and value-add operators seeking current income with future upside in a high-demand rental market.
No exterior & parking available.
Grades K-5 • 0.2 mi
Grades K-5 • 0.3 mi
Grades K-5 • 0.3 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 4,626 | 2,028 | 94% |
| Lot Size | 7,553 | 5,326 | 97% |
| Price | $1.03M | $750.0K | 88% |
| Price per sq ft | $222 | $373 | 12% |
| Built year | 1940 | 1912 | 82% |
| HOA | $0 | $0 | 50% |
| Days on market | 92 | 209 | 15% |
Feb 5, 2026
$1,029,000
$1,099,000
-6% Price Drop
Initial Listing
Jan 27, 2026
$1,099,000
$1,150,000
-4% Price Drop
Initial Listing
Jan 20, 2026
$1,150,000
Initial Listing
Apr 15, 1997
$500
Public Record
Jan 15, 1997
$500
Public Record