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928 S Breed Street, Los Angeles, California 90023, Los Angeles, 90023 - bed, bath

928 S Breed Street, Los Angeles, California 90023 home-pic-0
ACTIVE$1,195,000
928 S Breed Street, Los Angeles, California 90023
0Bed
0Bath
3,264Sqft
8,600Lot
Year Built
1923
Close
-
List price
$1.2M
Original List price
$1.2M
Price/Sqft
$366
HOA
-
Days on market
-
Sold On
-
MLS number
DW25183223
Home ConditionFair
Features
Good View:
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.20M(50th), sqft - 3264(50th), beds - undefined(50th), baths - undefined(50th).

Exceptional income property located in the culturally rich and high-demand neighborhood of Boyle Heights. This well-maintained asset features six fully detached units, each offering private yard space and a 1-car garage. The property is currently 100% tenant-occupied, with long-term tenants in place, providing immediate and consistent rental income. Key Features: Great Cap Rate, 6 Detached Residential Units, Each Unit Includes a 1-Car Garage, Private Yard Space for Each Unit, All Units in Good Condition, Separate Gas and Electric Meters, Stable, Long-Term Tenancy. Prime central location near Mariachi Plaza, Hollenbeck Park, LAC+USC Medical Center, and Bishop Mora Salesian High School. Easy access to the 5, 10, 60, and 101 freeways via the East LA Interchange makes commuting convenient for tenants. Great opportunity for both first-time and experienced investors looking to acquire a stable, low-maintenance property in a strong rental market. Please do not disturb tenants. Drive-by only. Interior showings with accepted offer.

Price History

Date
Event
Price
09/18/25
Price Change
$1,195,000-0.1%
09/04/25
Price Change
$1,195,999-0.3%
08/13/25
Listing
$1,200,000
01/30/02
Sold
$270,000
Condition Rating
Fair
The property was built in 1923, making it over 100 years old. While the description states 'All Units in Good Condition' and 'well-maintained,' the interior images reveal very dated kitchens and bathrooms. Kitchens feature basic white, likely original or very old, cabinets and appliances, with utilitarian tile backsplashes. Bathrooms have very old-style white square tiles, basic wall-mounted sinks, and recessed medicine cabinets, indicating no significant modern renovations. Flooring throughout is basic tile. Light fixtures are simple and dated ceiling fans or flush mounts. Cooling appears to be via window AC units. The property is functional and appears clean, but its components are significantly outdated and would require substantial aesthetic and functional updates to meet current standards, aligning with the 'Fair' condition criteria.
Pros & Cons

Pros

Strong Income Potential & Occupancy: The property is 100% tenant-occupied with long-term tenants, ensuring immediate and consistent rental income, highlighted by a 'Great Cap Rate' for investors.
Multi-Unit Configuration: Features six fully detached residential units, each providing privacy, a private yard, and a 1-car garage, appealing to a broad tenant base and offering diversified income streams.
Prime Boyle Heights Location: Located in a culturally rich, high-demand neighborhood with excellent freeway access (5, 10, 60, 101) and proximity to key amenities like Mariachi Plaza, Hollenbeck Park, and LAC+USC Medical Center.
Tenant-Friendly Amenities & Separate Utilities: Each unit includes a private yard and a 1-car garage, enhancing tenant satisfaction. Separate gas and electric meters reduce landlord's operational costs and simplify billing.
Stable, Low-Maintenance Investment: Described as a 'stable, low-maintenance property' with 'all units in good condition' and 'stable, long-term tenancy,' making it attractive for both first-time and experienced investors.

Cons

Age of Property: Built in 1923, the property's age may indicate potential for future capital expenditures on older systems (e.g., plumbing, electrical, roof) despite units being currently in 'good condition'.
Restricted Access for Due Diligence: The 'drive-by only' and 'interior showings with accepted offer' policy significantly limits a buyer's ability to thoroughly inspect the property and units before making a firm commitment.
Potential for Below-Market Rents: While long-term tenants provide stability, properties in Los Angeles, especially older multi-unit buildings, are often subject to rent control, which could mean current rents are below market value, limiting immediate rental upside for a new owner.

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