7700 Mckinley Avenue, Los Angeles, California 90001, Los Angeles, 90001 - bed, bath
ACTIVE$649,900
7700 Mckinley Avenue, Los Angeles, California 90001
0Bed
0Bath
1,992Sqft
5,507Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Strategic Los Angeles Location: The property boasts a prime location in a vibrant LA neighborhood, offering convenient access to major sports venues (SoFi, Intuit Dome, Crypto Arena, BMO stadium), USC, beaches, Downtown LA, and LAX, ensuring high tenant demand.
Top Cons:
Substantially Below-Market Rents: Current monthly rents ($800, $832, $1040, $1800) are significantly lower than typical market rates for 1-bedroom units in Los Angeles, limiting immediate cash flow and requiring strategic tenant management or turnover to realize full income potential.
Compared to the nearby listings
Price:$649.9K vs avg $679.0K ($-29,050)50%
Size:1,992 sqft vs avg 1,323 sqft86%
Price/sqft:$326 vs avg $48414%
More Insights
Built in 1927 (98 years old).
Condition: The property, built in 1927, is aged. While the description mentions 'a recently remodeled unit (2022)', the provided kitchen image showcases a significantly outdated space with old-style cabinets, dated backsplash tiles, patterned floor tiles, and a lack of modern appliances. This kitchen requires a full renovation to meet current standards. The exterior appears maintained but clearly shows its age. The overall condition suggests an aged property that has received some upkeep but requires substantial updates in its unrenovated units, particularly the kitchen, to be considered modern or comfortably functional.
Year Built
1927
Close
-
List price
$650K
Original List price
$650K
Price/Sqft
$326
HOA
-
Days on market
-
Sold On
-
MLS number
DW25125736
Home ConditionFair
Features
View-
About this home
Discover 7700 McKinley Ave: a beautiful and well maintained, four-unit property in a vibrant LA neighborhood. An Amazing opportunity awaits! This well-maintained 4-unit property offers four spacious 1-bed, 1-bath units. Features include a recently remodeled unit (2022), an detached 2 car garage (large!) with ADU potential. Conveniently located near major sports venues (SoFi, Intuit Dome, Crypto Arena, BMO stadium), USC, beaches, and Downtown LA, with easy LAX access. Maximize income with low expenses and tax benefits (6% CAP rate). A turnkey asset in a thriving LA neighborhood. convenient alley access. This is a fantastic opportunity to own a well-located and versatile property in the heart of Los Angeles, close to schools, local shops, dining, and transit. Monthly rent collected $800, $832, $1040, $1800 = $4,472 total. Make an offer today and secure your next great investment today!
Nearby schools
3/10
Mckinley Avenue Elementary School
Public,•K-6•0.1mi
5/10
Wisdom Elementary School
Public,•K-6•0.4mi
3/10
South Park Elementary School
Public,•K-6•0.7mi
3/10
Seventy-Fifth Street Elementary School
Public,•K-6•0.7mi
5/10
Russell Elementary School
Public,•K-6•0.8mi
4/10
Sixty-Sixth Street Elementary School
Public,•K-6•0.9mi
2/10
Dr. Owen Lloyd Knox Elementary School
Public,•K-6•1.2mi
4/10
Sixty-Eighth Street Elementary School
Public,•K-6•1.5mi
3/10
Sixty-First Street Elementary School
Public,•K-6•1.7mi
2/10
Mary Mcleod Bethune Middle School
Public,•6-8•0.9mi
1/10
Charles Drew Middle School
Public,•6-8•0.9mi
3/10
Thomas A. Edison Middle School
Public,•6-8•1.0mi
3/10
Los Angeles Academy Middle
Public,•6-8•1.6mi
3/10
John C. Fremont Senior High School
Public,•9-12•0.5mi
Condition Rating
Fair
The property, built in 1927, is aged. While the description mentions 'a recently remodeled unit (2022)', the provided kitchen image showcases a significantly outdated space with old-style cabinets, dated backsplash tiles, patterned floor tiles, and a lack of modern appliances. This kitchen requires a full renovation to meet current standards. The exterior appears maintained but clearly shows its age. The overall condition suggests an aged property that has received some upkeep but requires substantial updates in its unrenovated units, particularly the kitchen, to be considered modern or comfortably functional.
Pros & Cons
Pros
Strategic Los Angeles Location: The property boasts a prime location in a vibrant LA neighborhood, offering convenient access to major sports venues (SoFi, Intuit Dome, Crypto Arena, BMO stadium), USC, beaches, Downtown LA, and LAX, ensuring high tenant demand.
Multi-Unit Income Property: As a quadruplex with four spacious 1-bed, 1-bath units, it provides diversified income streams and a stable foundation for an investment portfolio.
Significant Value-Add Potential: The detached 2-car garage presents clear ADU conversion potential, offering a substantial opportunity to increase property value and rental income. Additionally, the current below-market rents provide significant upside for future income growth.
Recent Upgrades & Well-Maintained: One unit was recently remodeled in 2022, and the property is described as 'beautiful and well maintained,' suggesting reduced immediate capital expenditures and a ready-to-rent condition for at least one unit.
Turnkey Investment with Favorable Financials: Marketed as a 'turnkey asset' with 'low expenses and tax benefits' and a stated '6% CAP rate,' indicating a potentially strong return on investment for a ready-to-operate property.
Cons
Substantially Below-Market Rents: Current monthly rents ($800, $832, $1040, $1800) are significantly lower than typical market rates for 1-bedroom units in Los Angeles, limiting immediate cash flow and requiring strategic tenant management or turnover to realize full income potential.
Age of Property: Built in 1927, the property's age, despite being well-maintained, suggests a higher likelihood of future capital expenditures on aging systems such as plumbing, electrical, or roofing, which may not be immediately apparent.
Rent Control Considerations: Given its multi-unit nature and Los Angeles location, the property is likely subject to rent control ordinances, which could complicate efforts to raise rents to market levels and impact tenant turnover strategies, potentially extending the timeline to achieve maximum income.