813 E Imperial 1, Los Angeles, California 90059, Los Angeles, 90059 - bed, bath
ACTIVE$935,000
813 E Imperial 1, Los Angeles, California 90059
0Bed
0Bath
1,504Sqft
5,161Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Turnkey & Fully Occupied: The property is fully occupied with three renovated units, offering immediate and passive rental income without initial tenant sourcing or renovation efforts.
Top Cons:
Older Building Foundation: Despite recent renovations, the property's original construction year of 1950 means the underlying structure and non-renovated components are older, potentially leading to unforeseen maintenance issues.
Compared to the nearby listings
Price:$935.0K vs avg $767.0K (+$168,000)67%
Size:1,504 sqft vs avg 2,239 sqft25%
Price/sqft:$622 vs avg $33592%
More Insights
Built in 1950 (75 years old).
Condition: Despite being built in 1950, the MLS description explicitly states the property has been 'newly renovated' and 'completely upgraded' with new electrical, plumbing, energy-efficient HVAC mini-splits, windows, flooring, and beautifully modernized kitchens and bathrooms. The images confirm these extensive updates, showcasing modern white shaker cabinets, stainless steel appliances, contemporary bathroom vanities and tiling, new laminate flooring, and updated light fixtures throughout. All components appear new or virtually new, meeting current quality standards, aligning perfectly with the 'excellent' criteria for a property extensively renovated within the last 5 years.
Year Built
1950
Close
-
List price
$935K
Original List price
$965K
Price/Sqft
$622
HOA
-
Days on market
-
Sold On
-
MLS number
OC25174934
Home ConditionExcellent
Features
Patio
View-
About this home
Turnkey Triplex with True Passive Income! Newly renovated and fully occupied, this property features three 1-bedroom, 1-bath units, all rented to reliable Section 8 tenants—ensuring consistent rental income and hassle-free collections. Each unit has been completely upgraded with new electrical wiring, plumbing, energy-efficient HVAC mini-splits, windows, flooring, and beautifully modernized kitchens and bathrooms. The property also offers ample parking and potential space for an ADU to further maximize returns. Located in a convenient South LA neighborhood, enjoy proximity to local shops, dining, parks, and easy freeway access for quick commutes across the city. An excellent opportunity for investors seeking a truly turnkey property with stable cash flow!
Price History
Date
Event
Price
01/11/24
Sold
$680,000
Condition Rating
Excellent
Despite being built in 1950, the MLS description explicitly states the property has been 'newly renovated' and 'completely upgraded' with new electrical, plumbing, energy-efficient HVAC mini-splits, windows, flooring, and beautifully modernized kitchens and bathrooms. The images confirm these extensive updates, showcasing modern white shaker cabinets, stainless steel appliances, contemporary bathroom vanities and tiling, new laminate flooring, and updated light fixtures throughout. All components appear new or virtually new, meeting current quality standards, aligning perfectly with the 'excellent' criteria for a property extensively renovated within the last 5 years.
Pros & Cons
Pros
Turnkey & Fully Occupied: The property is fully occupied with three renovated units, offering immediate and passive rental income without initial tenant sourcing or renovation efforts.
Stable Section 8 Tenancy: All units are rented to Section 8 tenants, ensuring consistent and reliable rental payments, minimizing collection risks for the investor.
Extensive Modern Renovations: Each unit has undergone comprehensive upgrades including new electrical, plumbing, HVAC mini-splits, windows, flooring, and modernized kitchens/bathrooms, reducing immediate capital expenditure for a new owner.
ADU Development Potential: The property offers potential space for an Additional Dwelling Unit (ADU), providing a clear opportunity to increase rental income and overall property value.
Ample On-Site Parking: The availability of ample parking is a significant advantage in Los Angeles, enhancing tenant convenience and property appeal.
Cons
Older Building Foundation: Despite recent renovations, the property's original construction year of 1950 means the underlying structure and non-renovated components are older, potentially leading to unforeseen maintenance issues.
Significant Price Appreciation Since Last Sale: The current list price of $935,000 is a substantial increase from its $680,000 sale price in January 2024, which may raise questions about the current valuation and market justification.
Neighborhood Perception: While convenient, the 'South LA' location may carry certain perceptions that could limit the pool of potential buyers or impact long-term appreciation compared to other Los Angeles submarkets.