654 Penrith, Los Angeles, California 90023, Los Angeles, 90023 - 6 bed, 5 bath
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Los Angeles, California 90023
This Turnkey Multi-Unit Investment is listed at $1,550,000, representing a premium asset in the Boyle Heights market compared to its $1,450,188 Fair Market Value. The valuation is supported by an Excellent Condition Rating, featuring two brand-new construction units and a fully renovated primary residence. Residents enjoy panoramic City Lights views, private yards, and rare five-car parking near the 6th Street Bridge. With immediate rental readiness and high-density demand, this property serves as a stable, high-yield asset. It is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants looking to house-hack.
Property is new construction or fully renovated.
This triplex features two brand new construction units (Units 2 & 3) that have just received their Certificate of Occupancy, and the third unit (Unit 1) appears to have undergone a very recent and extensive renovation. All kitchens and bathrooms across the units are modern with new cabinets, countertops, stainless steel appliances, contemporary fixtures, and stylish tiling. Flooring is consistent modern LVP/laminate, and lighting is updated with recessed fixtures. The property shows no signs of deferred maintenance and all components are virtually new, aligning perfectly with 'Excellent' condition criteria.
The property is a triplex with three fully functional units, explicitly marketed for 'Massive Income Potential,' 'instant cash flow,' and 'long-term growth,' making it an ideal investment opportunity.
Two of the three units (Unit 2 & Unit 3) are brand new and have just received their Certificate of Occupancy, ensuring modern appeal, minimal immediate maintenance, and readiness for immediate rental.
Situated in the 'Heart of Los Angeles,' minutes from Downtown LA and the new 6th Street Bridge, offering strong tenant demand due to proximity to employment centers and local amenities.
While two units are new, Unit 1 is not specified as such, suggesting it might be an older unit which could lead to varying tenant expectations or maintenance requirements across the property.
The listing, despite targeting investors, does not provide current rent rolls or projected income figures, requiring buyers to conduct additional due diligence for financial assessment.
Beyond parking and individual private yards, the property description does not highlight any common area amenities (e.g., communal outdoor spaces, fitness facilities) that could further enhance tenant appeal or property value.
Investors & Buyers Alert! Massive Income Potential at 654 Penrith Drive! Don’t miss this rare multi-unit opportunity in the heart of Los Angeles! Perfect for investors and buyers looking for passive income and portfolio growth. This property is a Triplex with three fully functional units — instant cash flow, turnkey potential, and long-term growth. Unit 1: 3 Bedrooms, 2 Bathrooms, washer/dryer, private yard Unit 2 (New Construction!): 2 Bedrooms, 2 Bathrooms, 2 balconies, full kitchen, washer/dryer, private yard Unit 3 (New Construction Studio!): Full bathroom, full kitchen, washer/dryer, private yard Additional perks: 2-car garage + tandem parking for 3 cars Walking distance to local amenities Minutes from Downtown LA & the new 6th Street Bridge Units 2 & 3 are brand new and just received Certificate of Occupancy, giving you fresh, rentable units ready to generate income immediately. This is the ultimate property for investors and buyers looking to grow a real estate portfolio. Opportunities like this don’t wait — act fast! ?? Call now before this rare gem is gone! All showings must be by appointment only
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 6.0 | 0.0 | 85% |
| Baths | 5.0 | 0.0 | 92% |
| Square foot | 2,339 | 1,828 | 69% |
| Lot Size | 5,289.9 | 5,983 | 46% |
| Price | $1.55M | $710.9K | 92% |
| Price per sq ft | $663 | $410 | 92% |
| Built year | 2025 | 1923 | 92% |
| HOA | $0 | $0 | 50% |
| Days on market | 186 | 186 | 54% |
Jan 30, 2026
$1,550,000
$1,349,000
+15% Price Increase
Initial Listing
Nov 22, 2025
$1,349,000
$1,399,000
-4% Price Drop
Initial Listing
Oct 18, 2025
$1,399,000
Initial Listing
Jul 1, 2021
$710,000
Public Record