929 N Rowan Avenue, Los Angeles, California 90063, Los Angeles, 90063 - bed, bath
ACTIVE$1,100,000
929 N Rowan Avenue, Los Angeles, California 90063
0Bed
0Bath
2,496Sqft
8,437Lot
Year Built
1914
Close
-
List price
$1.1M
Original List price
$1.1M
Price/Sqft
$441
HOA
-
Days on market
-
Sold On
-
MLS number
WS25025598
Home ConditionFair
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.10M(96th), sqft - 2496(80th), beds - undefined(50th), baths - undefined(50th).
Fully occupied Los Angeles Triplex (929 & 929 1/2 & 931 Rowan). The subject property is located close to freeways and shopping center. The property is a great opportunity as an investment.
Price History
Date
Event
Price
03/21/23
Sold
$845,000
04/15/14
Sold
$415,000
03/05/01
Sold
$165,000
Condition Rating
Fair
Built in 1914, this property is over a century old. While the exterior appears maintained, the interior images of the kitchen and bathroom clearly show significantly outdated features. The kitchen has older light wood cabinets, laminate countertops, basic white appliances, and dated linoleum flooring. The bathroom also features an older vanity, basic fixtures, and dated flooring. These elements suggest that any renovations were done 20-30+ years ago, or they are original components, aligning with the 'Fair' condition criteria where major components are functional but show signs of being outdated and require minor to moderate updates. The property is currently occupied, indicating it is livable, but it is far from modern standards.
Pros & Cons
Pros
Investment Opportunity: The property is a fully occupied triplex, explicitly marketed as a 'great opportunity as an investment' and categorized as 'Residential Income', providing immediate cash flow.
Multiple Income Streams: As a triplex, it offers three separate rental units, diversifying income and potentially mitigating vacancy risk compared to single-unit properties.
Strategic Location: Its proximity to freeways and a shopping center enhances tenant desirability due to convenient access to transportation and amenities.
Generous Lot Size: With a lot size of 8437 sqft, there is potential for outdoor amenities, ample parking, or future expansion/ADU possibilities, adding long-term value.
Historical Appreciation: The property has shown significant value growth over the past two decades (from $165k in 2001 to $845k in 2023), indicating a strong market and potential for continued appreciation.
Cons
Advanced Age & Potential for Deferred Maintenance: Built in 1914, the property is over a century old, which often implies a higher likelihood of outdated systems (plumbing, electrical) and potential for significant capital expenditures for updates and repairs.
Lack of Property Condition Details: The description is sparse, offering no information on the condition of the individual units, recent renovations, or current rental income, which are critical for an investment property and could imply hidden costs for a buyer.
Aggressive Pricing Relative to Last Sale: The current list price of $1,100,000 is a substantial increase from the 2023 sale price of $845,000, potentially indicating an ambitious valuation without clear justification of significant upgrades or market changes in the description.