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804 806 E 76th Place, Los Angeles, California 90001, Los Angeles, 90001 - bed, bath

804 806 E 76th Place, Los Angeles, California 90001 home-pic-0
ACTIVE$1,229,900
804 806 E 76th Place, Los Angeles, California 90001
0Bed
0Bath
3,715Sqft
5,099Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
New Construction & Modern Features: Built in 2022, this duplex offers contemporary construction quality with modern finishes like solid wood cabinets, granite counters, dual pane windows, and central heating, minimizing immediate maintenance needs.
Top Cons:
Recent Price Reduction: The property has undergone a notable price reduction from its original list price of $1.35M to $1.2299M, which may suggest previous overpricing or market resistance.

Compared to the nearby listings

Price:$1.23M vs avg $714.0K (+$515,900)93%
Size:3,715 sqft vs avg 1,323 sqft93%
Price/sqft:$331 vs avg $48414%

More Insights

Built in 2022 (3 years old).
Condition: This property was built in 2022, making it a very recent new construction. The description highlights modern features such as central heating, dual-pane windows, solid wood cabinets, granite counters, and solar electric systems. Images confirm the newness with clean carpets, fresh paint, and new bathroom fixtures. All components are virtually new, meeting current quality standards with no deferred maintenance, aligning perfectly with the 'Excellent' condition criteria.
Year Built
2022
Close
-
List price
$1.23M
Original List price
$1.35M
Price/Sqft
$331
HOA
-
Days on market
-
Sold On
-
MLS number
PW24174456
Home ConditionExcellent
Features
View-

About this home

Newer Construction Duplex built by Ocean Development in 2022. Fully occupied units with attractive rental income - and additional upside with rent increase. Currently leased at $7,500 Monthly Rental Income. Area rents averaging over $8,000 per month for similar duplexes. Separate electric, gas, and water meters - tenants pay their own utilities. Thoughtfully Designed with one unit in front, and the second unit in back - No one above or below. Each unit includes 5 Bedrooms and 3 Baths - approximately 1,857 square feet for each unit. Design Features include Central Heating Systems, Dual Pane Windows, Solid Wood Cabinets and Granite Counters in Kitchen, Interior Laundry Room in Each Unit. Solar electric systems installed. Property includes a 3 Car Garage. Estimated 5.3 Cap Rate with significant upside in rental income. We feel this is the best investment property opportunity in the area combining newness and quality of construction, location, superior features of units (solar and separate water meters), and price.

Condition Rating
Excellent
This property was built in 2022, making it a very recent new construction. The description highlights modern features such as central heating, dual-pane windows, solid wood cabinets, granite counters, and solar electric systems. Images confirm the newness with clean carpets, fresh paint, and new bathroom fixtures. All components are virtually new, meeting current quality standards with no deferred maintenance, aligning perfectly with the 'Excellent' condition criteria.
Pros & Cons

Pros

New Construction & Modern Features: Built in 2022, this duplex offers contemporary construction quality with modern finishes like solid wood cabinets, granite counters, dual pane windows, and central heating, minimizing immediate maintenance needs.
Strong Investment & Income Potential: Fully occupied with attractive current rental income ($7,500/month) and significant upside potential, as area rents for similar duplexes average over $8,000/month, yielding an estimated 5.3 Cap Rate.
Tenant-Responsible Utilities: Separate electric, gas, and water meters for each unit ensure tenants pay their own utilities, significantly reducing landlord operating expenses and simplifying financial management.
Spacious & Private Units: Each unit is generously sized at approximately 1,857 sqft with 5 bedrooms and 3 baths, thoughtfully designed with no one above or below, offering enhanced privacy and appeal to larger families or multiple tenants.
Energy Efficiency & Desirable Amenities: Equipped with solar electric systems, reducing utility costs for tenants and increasing property appeal, along with convenient interior laundry rooms in each unit.

Cons

Recent Price Reduction: The property has undergone a notable price reduction from its original list price of $1.35M to $1.2299M, which may suggest previous overpricing or market resistance.
Absence of Scenic Views: The property explicitly states 'None' for views, indicating a lack of desirable scenic outlooks, which can be a detractor for some potential buyers or tenants.
Potentially Insufficient Parking: A 3-car garage for two 5-bedroom units (totaling 10 bedrooms) may prove insufficient for tenant parking needs, potentially leading to reliance on street parking or tenant inconvenience.

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