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654 Penrith, Los Angeles, California 90023, Los Angeles, 90023 - 6 bed, 5 bath

654 Penrith, Los Angeles, California 90023 home-pic-0
ACTIVE$1,349,000
654 Penrith, Los Angeles, California 90023
6Beds
5Baths
2,339Sqft
5,289.9Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Exceptional Income Potential: A triplex configuration with three fully functional units (3/2, 2/2, Studio) designed for immediate cash flow and long-term portfolio growth, ideal for investors.
Top Cons:
Neighborhood Perception: Located in Boyle Heights, an area that, while experiencing revitalization, may still carry perceptions that could affect tenant pool diversity or long-term appreciation compared to more historically affluent LA neighborhoods.

Compared to the nearby listings

Price:$1.35M vs avg $655.0K (+$694,000)92%
Size:2,339 sqft vs avg 1,702 sqft62%
Price/sqft:$577 vs avg $48177%

More Insights

Built in 2025 (0 years old).
Condition: This triplex features two units that are brand new construction (built in 2025) with Certificate of Occupancy, and the third unit has undergone a very recent and extensive renovation. All kitchens are modern with new cabinetry (white shaker or contemporary wood/white mix), quartz countertops, stainless steel appliances, and updated backsplashes. Bathrooms are also modern with new vanities, hexagonal tiling, and glass shower enclosures. Flooring throughout is new laminate wood, and lighting includes recessed and modern fixtures. The entire property presents as virtually new, meeting current quality standards with no deferred maintenance.
Year Built
2025
Close
-
List price
$1.35M
Original List price
$1.4M
Price/Sqft
$577
HOA
-
Days on market
-
Sold On
-
MLS number
SR25242692
Home ConditionExcellent
Features
Good View: City Lights, Neighborhood, Panoramic
Deck
Patio
ViewCity Lights,Neighborhood,Panoramic

About this home

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

Price History

Date
Event
Price
07/01/21
Sold
$710,000
Condition Rating
Excellent
This triplex features two units that are brand new construction (built in 2025) with Certificate of Occupancy, and the third unit has undergone a very recent and extensive renovation. All kitchens are modern with new cabinetry (white shaker or contemporary wood/white mix), quartz countertops, stainless steel appliances, and updated backsplashes. Bathrooms are also modern with new vanities, hexagonal tiling, and glass shower enclosures. Flooring throughout is new laminate wood, and lighting includes recessed and modern fixtures. The entire property presents as virtually new, meeting current quality standards with no deferred maintenance.
Pros & Cons

Pros

Exceptional Income Potential: A triplex configuration with three fully functional units (3/2, 2/2, Studio) designed for immediate cash flow and long-term portfolio growth, ideal for investors.
Brand New Construction & Turnkey Readiness: Two of the three units are newly constructed with Certificate of Occupancy, offering modern finishes, reduced maintenance, and immediate rental income potential.
Strategic Urban Location: Centrally located in Los Angeles, providing excellent access to Downtown LA, the new 6th Street Bridge, and local amenities, enhancing tenant demand and property value.
Abundant Parking: Offers a valuable 2-car garage plus tandem parking for 3 additional vehicles, a significant asset in a high-density urban area.
Desirable Unit Amenities: Each unit boasts a private yard and in-unit washer/dryer, highly sought-after features that increase tenant appeal and rental rates.

Cons

Neighborhood Perception: Located in Boyle Heights, an area that, while experiencing revitalization, may still carry perceptions that could affect tenant pool diversity or long-term appreciation compared to more historically affluent LA neighborhoods.
Recent Price Adjustment: The property has seen a recent price reduction from its original listing, which could indicate initial overpricing or a need to stimulate buyer interest in the current market.
Age Discrepancy of Units: While two units are brand new, the description does not specify the age or renovation status of Unit 1, suggesting it might be an older unit that could require future maintenance or updates to match the new construction.

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