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6524 S Central Avenue, Los Angeles, California 90001, Los Angeles, 90001 - bed, bath

6524 S Central Avenue, Los Angeles, California 90001 home-pic-0
ACTIVE$888,888
6524 S Central Avenue, Los Angeles, California 90001
0Bed
0Bath
4,000Sqft
4,043Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
High Density & Expansion Potential: The property currently features 11 units and has planning department approval to expand up to 14 units on its small lot, offering significant income growth and development potential.
Top Cons:
Tenant Occupancy & Access Restrictions: The 'DO NOT DISTURB TENANTS' directive implies limited access for thorough inspections and showings, which can complicate due diligence and the overall sale process, and suggests potential tenant-related management challenges.

Compared to the nearby listings

Compared against 0 nearby listings

More Insights

Built in 1936 (89 years old).
Condition: Built in 1936, this property is explicitly described as a 'value add deal' requiring 'substantial rehabilitation' and 'significant capital expenditure for deferred maintenance, systems upgrades, and modernization.' The exterior image shows an aged building with visible wear and tear, and the complete absence of interior photos strongly indicates that the kitchens, bathrooms, and other internal components are severely outdated and in need of major renovation. This aligns with the 'Poor' condition criteria, signifying that substantial repairs and rehabilitation are required throughout the property.
Year Built
1936
Close
-
List price
$889K
Original List price
$889K
Price/Sqft
$222
HOA
-
Days on market
-
Sold On
-
MLS number
SR23153098
Home ConditionPoor
Features
ViewNeighborhood

About this home

***DO NOT GO DIRECT, DO NOT DISTURB TENANTS*** ................................................................................................................................................................................................................... Welcome to 6524 S Central, a value add deal in the up and coming community of Florence - Firestone. This property has a total of 11 existing units (9 upstairs and 2 downstairs). According to Planning department this small lot has very high density and can go up to 14 units. There are multiple metered utilities which will allow the owner to separately charge for those services. Florence - Firestone is a TOD Transit Oriented District Specific Plan that was adopted on 09.03.2019. There may also be funds available through the Los Angeles County Development Authority (LACDA) by way of Notice of Funding Availability (NOFA) to fund substantial rehabilitation of affordable housing in exchange for favorable loan terms through this program. There will be much development here over the next few years which may bring values significantly higher. Buyer and/or buyer's agent to do all inspections and verify all information regarding listing. Private financing available. No information is guaranteed or warranty by listing agent or seller.

Price History

Date
Event
Price
02/04/20
Sold
$545,000
11/25/15
Sold
$443,000
07/12/04
Sold
$335,000
06/05/03
Sold
$210,000
Condition Rating
Poor
Built in 1936, this property is explicitly described as a 'value add deal' requiring 'substantial rehabilitation' and 'significant capital expenditure for deferred maintenance, systems upgrades, and modernization.' The exterior image shows an aged building with visible wear and tear, and the complete absence of interior photos strongly indicates that the kitchens, bathrooms, and other internal components are severely outdated and in need of major renovation. This aligns with the 'Poor' condition criteria, signifying that substantial repairs and rehabilitation are required throughout the property.
Pros & Cons

Pros

High Density & Expansion Potential: The property currently features 11 units and has planning department approval to expand up to 14 units on its small lot, offering significant income growth and development potential.
Strategic Location (TOD Zone): Situated in Florence-Firestone, a designated TOD (Transit Oriented District) Specific Plan area, indicating favorable zoning for future development and potential appreciation due to transit proximity and planned community growth.
Value-Add Investment Opportunity: Explicitly marketed as a 'value add deal' in an 'up and coming community,' suggesting substantial upside through renovation, increased density, and market appreciation over time.
Multiple Metered Utilities: The presence of multiple metered utilities allows for individual billing to tenants, which can significantly reduce the owner's operating expenses and increase net operating income.
Rehabilitation Funding Potential: There may be funds available through the Los Angeles County Development Authority (LACDA) for substantial rehabilitation of affordable housing, potentially offering favorable loan terms and reducing renovation costs.

Cons

Tenant Occupancy & Access Restrictions: The 'DO NOT DISTURB TENANTS' directive implies limited access for thorough inspections and showings, which can complicate due diligence and the overall sale process, and suggests potential tenant-related management challenges.
Age of Property: Built in 1936, the property is very old, likely requiring significant capital expenditure for deferred maintenance, systems upgrades, and modernization to fully realize its 'value add' potential and ensure long-term viability.
High Due Diligence Burden: The listing explicitly states 'No information is guaranteed or warranty by listing agent or seller' and requires buyers to 'do all inspections and verify all information,' placing a high burden of due diligence on the buyer and implying the property is sold in its current condition, potentially with undisclosed issues.

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