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7019 Lanto Street, Commerce, California 90040, Commerce, 90040 - bed, bath

7019 Lanto Street, Commerce, California 90040 home-pic-0
ACTIVE$1,100,000
7019 Lanto Street, Commerce, California 90040
0Bed
0Bath
3,457Sqft
20,862Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Income-Generating Quadruplex: Established four-unit property offering reliable cash flow and strong potential for appreciation in a thriving rental market.
Top Cons:
Extensive Fixer-Upper Needs: Built in 1927 with 'significant fixer-up potential,' suggesting substantial renovation and capital expenditure may be required across the property.

Compared to the nearby listings

Price:$1.10M vs avg $869.0K (+$231,000)67%
Size:3,457 sqft vs avg 3,023 sqft67%
Price/sqft:$318 vs avg $31850%

More Insights

Built in 1927 (98 years old).
Condition: Built in 1927, this property is very old and explicitly described as having 'significant fixer-up potential.' While two units reportedly have new roofs and two have new bathrooms, this indicates partial updates, not a comprehensive renovation across all units or systems. The lack of interior photos prevents a direct assessment of kitchen and bathroom styles, but the 'fixer-up' nature strongly suggests outdated features and a need for substantial repairs and rehabilitation for the property as a whole, including major components like electrical, plumbing, and HVAC, which are likely original or very old.
Year Built
1927
Close
-
List price
$1.1M
Original List price
$1.2M
Price/Sqft
$318
HOA
-
Days on market
-
Sold On
-
MLS number
DW25168718
Home ConditionPoor
Features
View-

About this home

Come see this great investment opportunity! This fourplex boasts three separate homes on a spacious lot with further potential to build additional units. The front home is a classic California bungalow with 2 bedrooms and 1 bath. The back home is currently used as a 2-bedroom, 1-bath residence. This property will make a solid addition to your real estate portfolio and has significant fixer-up potential. Two units have new roofs, and two units have new bathrooms. Just minutes away from the renowned Commerce Casino, offering entertainment options and a vibrant nightlife for residents. Enjoy easy access to shopping centers, including the famous Citadel Outlets, parks, and recreational facilities that enhance the living experience in Commerce. This four-unit property represents a remarkable investment opportunity for investors looking to benefit from the growing rental market in Commerce, CA. With four units, you can expect reliable cash flow and the potential for appreciation in this thriving community. Don’t miss out on this chance to add a valuable asset to your portfolio. Schedule a viewing today and explore the full potential this property has to offer!

Price History

Date
Event
Price
11/02/12
Sold
$350,003
10/12/06
Sold
$825,000
Condition Rating
Poor
Built in 1927, this property is very old and explicitly described as having 'significant fixer-up potential.' While two units reportedly have new roofs and two have new bathrooms, this indicates partial updates, not a comprehensive renovation across all units or systems. The lack of interior photos prevents a direct assessment of kitchen and bathroom styles, but the 'fixer-up' nature strongly suggests outdated features and a need for substantial repairs and rehabilitation for the property as a whole, including major components like electrical, plumbing, and HVAC, which are likely original or very old.
Pros & Cons

Pros

Income-Generating Quadruplex: Established four-unit property offering reliable cash flow and strong potential for appreciation in a thriving rental market.
Significant Development Potential: Expansive 20,862 sqft lot provides a rare opportunity to build additional units, enhancing future value and income.
Desirable Location Amenities: Proximity to Commerce Casino, Citadel Outlets, shopping centers, and parks offers convenience and entertainment for residents.
Partial Modernization: Two units benefit from new roofs and two units feature new bathrooms, indicating recent capital improvements.
Spacious Lot: The generous 20,862 sqft lot size not only supports development but also offers potential for enhanced outdoor living or parking.

Cons

Extensive Fixer-Upper Needs: Built in 1927 with 'significant fixer-up potential,' suggesting substantial renovation and capital expenditure may be required across the property.
Incomplete Property Upgrades: While some units have new roofs and bathrooms, the description implies other areas or units may still require significant investment and modernization beyond the partial updates.
Price Reduction History: A recent price drop from $1.2M to $1.1M could indicate initial overpricing or a longer market time, potentially signaling buyer hesitation.

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