7704 S Grand Avenue, Los Angeles, California 90003, Los Angeles, 90003 - bed, bath
ACTIVE$799,000
7704 S Grand Avenue, Los Angeles, California 90003
0Bed
0Bath
2,737Sqft
3,890Lot
Year Built
2001
Close
-
List price
$799K
Original List price
$899K
Price/Sqft
$292
HOA
-
Days on market
-
Sold On
-
MLS number
TR24055241
Home ConditionFair
Features
Patio
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $799.0K(57th), sqft - 2737(83th), beds - undefined(50th), baths - undefined(50th).
Great intercity investment opportunity on a 2001 built duplex. Duplex located near 110 fwy, close proximity to USC, Downtown LA, metro line and bus lines. Property has a small lot for less overhead expense on maintenance. Another great feature is the 2 car garage.
Price History
Date
Event
Price
06/23/10
Sold
$264,000
03/12/07
Sold
$615,000
12/29/05
Sold
$530,000
06/06/03
Sold
$279,000
05/04/01
Sold
$240,000
11/03/00
Sold
$19,000
Condition Rating
Fair
Built in 2001, this property is 23 years old. While the exterior appears well-maintained and the interior is clean, the images reveal a dated aesthetic, particularly in the kitchen. The kitchen features original-style light wood cabinets, laminate countertops, white appliances, and a fluorescent light fixture, all consistent with early 2000s builder-grade finishes with no apparent updates. Flooring appears to be laminate/vinyl plank in good condition. There's no indication of recent extensive renovations, aligning with a property that is aged but maintained, with functional but outdated components.
Pros & Cons
Pros
Income-Generating Duplex: As a Residential Income Duplex, the property offers immediate potential for rental income, making it an attractive investment opportunity.
Strategic Location & Connectivity: Its proximity to the 110 Fwy, USC, Downtown LA, metro, and bus lines ensures high tenant demand and excellent accessibility.
Modern Construction: Built in 2001, it is a relatively newer property in the Los Angeles market, potentially reducing immediate capital expenditure on major systems compared to older builds.
Low Maintenance Property: The small lot size minimizes ongoing landscaping and exterior maintenance costs, appealing to investors seeking lower overhead.
Valuable Off-Street Parking: The inclusion of a 2-car garage is a significant amenity in Los Angeles, enhancing tenant appeal and property value.
Cons
Recent Price Reduction: A $100,000 price drop from the original list price suggests potential market resistance or an initial overvaluation, warranting further investigation into market comparables.
Limited Outdoor Space: The small lot size (3890 sqft) offers minimal outdoor living area, which might be a drawback for some tenants or limit future expansion possibilities.
Unspecified Interior Condition: The description lacks details on the interior condition or recent upgrades of the units, implying potential deferred maintenance or renovation costs for a new owner.