717 E 24th Street, Los Angeles, California 90011, Los Angeles, 90011 - 7 bed, 4 bath
ACTIVE$860,000$2,603/sqft
717 E 24th Street, Los Angeles, California 90011
7Beds
4Baths
2,603Sqft
6,510Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Income-Generating Triplex: As a triplex, this property offers immediate and significant income potential, making it an attractive asset for investors or owner-occupants looking to offset mortgage costs.
Top Cons:
Historic Property Age (1902): Built in 1902, the property likely features outdated infrastructure (plumbing, electrical, HVAC) and may require significant capital expenditures for system upgrades and deferred maintenance.
Compared to the nearby listings
Price:$860.0K vs avg $699.0K (+$161,000)79%
Size:2,603 sqft vs avg 2,076 sqft90%
Price/sqft:$330 vs avg $33745%
More Insights
Built in 1902 (124 years old).
Condition: Built in 1902, this property is explicitly noted in the listing's weaknesses for having 'outdated infrastructure (plumbing, electrical, HVAC)' and requiring 'significant capital expenditures for system upgrades and deferred maintenance,' as well as 'substantial renovation and modernization.' While the exterior appears maintained, the lack of interior images and the stated need for extensive system replacements and modernization indicate that the property requires substantial repairs and rehabilitation, particularly in key areas like kitchens and bathrooms, to bring it to current standards.
Year Built
1902
Close
-
List price
$860K
Original List price
$900K
Price/Sqft
$330
HOA
-
Days on market
-
Sold On
-
MLS number
SB25202516
Home ConditionPoor
Features
ViewNeighborhood
About this home
Excellent investment opportunity! This triplex on 24th Street in Los Angeles, in the heart of Downtown LA, offers incredible income potential and future development possibilities. Situated in a prime location, this multi-unit property is perfect for investors or owner-occupants looking to maximize rental income or even expand living space. With spacious units and a functional layout, each residence provides comfortable living with ample natural light and character. The property sits on a generous lot, offering potential to expand, add additional units, or redevelop. Located near major freeways, public transportation, shopping, dining, and entertainment- this triplex is in a high-demand rental area, making it an excellent long-term investment. Don't miss out on this versatile property with room to grow.
L
Lianne Gallardo
Listing Agent
Nearby schools
3/10
Twenty-Eighth Street Elementary School
Public,•K-5•0.3mi
5/10
San Pedro Street Elementary School
Public,•K-5•0.4mi
5/10
Twentieth Street Elementary School
Public,•K-5•0.5mi
5/10
Dolores Huerta Elementary School
Public,•K-5•0.6mi
4/10
Quincy Jones Elementary School
Public,•K-5•0.6mi
/10
Maple Primary Center
Public,•K-1•0.8mi
3/10
Wadsworth Avenue Elementary School
Public,•K-5•1.0mi
3/10
Trinity Street Elementary School
Public,•K-5•1.0mi
4/10
Ricardo Lizarraga Elementary School
Public,•K-5•1.0mi
2/10
Harmony Elementary School
Public,•K-5•1.1mi
4/10
Nevin Avenue Elementary School
Public,•K-5•1.1mi
4/10
Norwood Street Elementary School
Public,•K-5•1.4mi
3/10
Sally Ride Elementary: A Smart Academy
Public,•K-5•1.5mi
2/10
Forty-Ninth Street Elementary School
Public,•K-5•1.7mi
5/10
West Vernon Avenue Elementary School
Public,•K-5•1.7mi
2/10
John W. Mack Elementary School
Public,•K-5•2.0mi
5/10
Menlo Avenue Elementary School
Public,•K-5•2.0mi
2/10
Marguerite Poindexter Lamotte Elementary
Public,•K-5•2.2mi
/10
Dr. James Edward Jones Primary Center
Public,•K-2•2.4mi
4/10
John Adams Middle School
Public,•6-8•0.7mi
2/10
Dr. Julian Nava Learning Academies-School Of Business And Technology
Public,•6-8•0.8mi
3/10
William Jefferson Clinton Middle School
Public,•6-8•1.0mi
3/10
George Washington Carver Middle School
Public,•6-8•1.4mi
2/10
John Muir Middle School
Public,•6-8•3.1mi
2/10
Barack Obama Global Preparation Academy
Public,•6-8•3.2mi
5/10
Santee Education Complex
Public,•9-12•0.4mi
3/10
Nava College Preparatory Academy
Public,•9-12•1.1mi
2/10
Thomas Jefferson Senior High School
Public,•9-12•1.1mi
4/10
West Adams Preparatory High School
Public,•9-12•2.1mi
3/10
Manual Arts Senior High School
Public,•9-12•2.1mi
Condition Rating
Poor
Built in 1902, this property is explicitly noted in the listing's weaknesses for having 'outdated infrastructure (plumbing, electrical, HVAC)' and requiring 'significant capital expenditures for system upgrades and deferred maintenance,' as well as 'substantial renovation and modernization.' While the exterior appears maintained, the lack of interior images and the stated need for extensive system replacements and modernization indicate that the property requires substantial repairs and rehabilitation, particularly in key areas like kitchens and bathrooms, to bring it to current standards.
Pros & Cons
Pros
Income-Generating Triplex: As a triplex, this property offers immediate and significant income potential, making it an attractive asset for investors or owner-occupants looking to offset mortgage costs.
Prime Downtown LA Location: Situated in the heart of Downtown Los Angeles, the property benefits from a high-demand rental market and excellent access to major freeways, public transportation, shopping, dining, and entertainment.
Development and Expansion Potential: The generous 6,510 sqft lot provides substantial opportunities for future expansion, adding additional units, or complete redevelopment, enhancing long-term value.
Spacious Units with Character: Each residence boasts a functional layout with ample natural light and inherent character, appealing to a broad range of potential tenants or owner-occupants.
Recent Price Adjustment: The recent price reduction from $900,000 to $860,000 presents a more competitive entry point and potential value opportunity for prospective buyers.
Cons
Historic Property Age (1902): Built in 1902, the property likely features outdated infrastructure (plumbing, electrical, HVAC) and may require significant capital expenditures for system upgrades and deferred maintenance.
Potential for Extensive Renovation: To maximize rental income and attract modern tenants, the units will likely require substantial renovation and modernization, adding to the initial investment costs.
Non-Premium View: While the property has a 'Neighborhood' view, the absence of more desirable vistas (e.g., city skyline, mountains) may limit its appeal to a segment of the market seeking premium views.