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657 S Mathews Street, Los Angeles, California 90023, Los Angeles, 90023 - bed, bath

657 S Mathews Street, Los Angeles, California 90023 home-pic-0
ACTIVE$789,000
657 S Mathews Street, Los Angeles, California 90023
0Bed
0Bath
1,920Sqft
6,003Lot
Year Built
1924
Close
-
List price
$789K
Original List price
$789K
Price/Sqft
$411
HOA
-
Days on market
-
Sold On
-
MLS number
AR25182951
Home ConditionPoor
Features
ViewNeighborhood

About this home

We found 3 Cons,5 Pros. Rank: price - $789.0K(77th), sqft - 1920(62th), beds - undefined(50th), baths - undefined(50th).

Excellent Investment Opportunity in the Heart of Los Angeles! Don't miss this rare chance to own a low-maintenance income property. Perfect for both seasoned investors and those seeking stable, long-term residual income. Property Highlights: 4 Income-Producing Units. Total Living Space: 1,920 sq ft Lot Size: 6,003 sq ft. Each Unit Separately Metered for Gas & Electricity. One Water Meter. Each Unit Includes a Detached 1-Car Garage. New Roof Installed in 2023. Sold As-Is. No repairs. This is a turnkey investment offering immediate rental income and long-term value appreciation. Located in a prime area of Los Angeles, the property ensures steady demand and high occupancy. Whether you're expanding your portfolio or stepping into real estate for the first time, this is a golden opportunity you can't afford to miss. No Sign on the property. Do Not Disturb Occupants. Tenants unaware of the sale. Do not walk the property. Drive by only.

Price History

Date
Event
Price
08/19/25
Listing
$789,000
Condition Rating
Poor
This property, built in 1924, is 100 years old. While a new roof was installed in 2023, the listing explicitly states 'Sold As-Is. No repairs.' and prohibits interior access ('Do Not Disturb Occupants. Tenants unaware of the sale. Do not walk the property. Drive by only.'). This strongly indicates that the interior, including kitchens, bathrooms, and major systems (electrical, plumbing, HVAC), is likely in very dated condition and requires substantial rehabilitation. The lack of interior photos and the 'as-is' clause for a property of this age suggest significant deferred maintenance and necessary upgrades beyond minor cosmetic fixes, aligning with the 'Poor' condition criteria.
Pros & Cons

Pros

Multi-Unit Income Property: This quadruplex features 4 income-producing units, offering immediate rental income and strong potential for long-term value appreciation, ideal for investors.
Separate Utility Metering: Each unit is separately metered for gas and electricity, significantly reducing landlord utility expenses and simplifying tenant billing.
Recent Major Capital Improvement: A new roof was installed in 2023, mitigating a major potential expense and maintenance concern for the new owner.
Prime Los Angeles Location: Located in a prime area of Los Angeles, the property benefits from high rental demand and ensures steady occupancy rates.
Detached Garages for Each Unit: Each unit includes a detached 1-car garage, providing valuable parking and storage solutions that enhance tenant appeal and potential rental income.

Cons

Sold As-Is Condition: The property is explicitly sold 'As-Is' with 'No repairs,' indicating that the buyer will be responsible for any necessary upgrades or deferred maintenance.
Restricted Access for Due Diligence: Buyers are unable to disturb occupants or walk the property, severely limiting the ability to conduct thorough interior inspections and assess the true condition of the units.
Single Water Meter: With only one water meter for all units, the landlord will likely incur the cost of water or face the challenge of implementing a fair billing system for tenants.

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