929 S Lorena Street, Los Angeles, California 90023, Los Angeles, 90023 - 0 bed, 0 bath
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Los Angeles, California 90023
This multi-unit Residential Income Asset represents a Strong Value Opportunity, listed at $865,000—positioned well above the $816,025 Fair Market Value by 6%. While priced at a premium, the property features a Condition Rating of 3 with a recently renovated front unit, offering immediate occupancy or rental potential. With separate utility metering and a strategic location near the 6th Street Bridge, this property is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking to leverage long-term growth in a high-demand, developing urban corridor.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 929 S Lorena Street Subject | $865,000* List Price | 0 | 0 | 1,822 | $448 | - |
A 1125 Orme Sold | $750,000 | 7 | 4 | 1,828 | $410 | 0.8 mi |
B 932 S Mott Street Sold | $789,000 | 0 | 0 | 1,660 | $475 | 0.8 mi |
C 650 S Indiana St Sold | $780,000 | 0 | 0 | 2,035 | $383 | 0.6 mi |
D 657 S Mathews Sold | $698,888 | 0 | 0 | 1,920 | $364 | 0.9 mi |
E 3065 E 6th Active | $680,000 List Price | 0 | 0 | 1,777 | $383 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While originally built in 1907, the property features a recently renovated front unit with modern laminate flooring, updated paint, and contemporary fixtures. The systems have been modernized with separate metering for gas and electricity, and the exterior appears well-maintained, making it move-in ready for an owner-user.
The property features a recently renovated front unit delivered vacant, allowing for immediate market-rate leasing or owner-occupancy, while existing below-market rents in other units offer significant long-term growth potential.
All three units are individually metered for water, gas, and electricity, which significantly reduces landlord overhead and simplifies utility management for the owner.
Situated in a high-growth area with convenient access to five major freeways and the 6th Street Bridge, providing an easy commute to Downtown Los Angeles and surrounding employment hubs.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =5510, other record lot size in square feet = 5768. Living area discrepancy between mls listing and other public or private record. mls listing living area = 1822, other record living area = 1312.
Two units are sold with tenants in place, and the seller will not provide relocation assistance or credits, requiring the buyer to manage existing lease terms and potential relocation costs.
Originally constructed in 1907, the property's age may necessitate ongoing maintenance or upgrades to aging structural and mechanical systems not addressed in the recent front-unit renovation.
Incredible investment opportunity or ideal owner-user property! This multi-unit property features three units, including a recently renovated front unit that will be delivered vacant at close of escrow. The property consists of two 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit. Each unit is separately metered for water, gas, and electricity, offering added convenience and cost transparency. The layout is well-suited for extended family living or generating rental income. Current rents are below market, presenting strong upside potential for investors. The property will be delivered with tenants in place in two units; the front unit will be vacant. Please do not disturb tenants. Showings by appointment only--contact the listing agent for access. Buyers are advised to conduct their own due diligence regarding tenancy and occupancy options. The seller will not pursue tenant relocation or provide credits for associated costs. Located in an area experiencing significant recent development, this property presents an excellent opportunity for both income generation and long-term growth. Prime Location: Convenient access to major freeways including the 5, 10, 60, 710, and 110. Easy commute to downtown via the newly developed 6th Street Bridge. The surrounding area is experiencing strong growth, with multiple mixed-use developments underway. Additional Notes: Information is deemed reliable but not guaranteed. Buyers are encouraged to conduct their own due diligence and consult with professionals.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 1,822 | 1,758 | 53% |
| Lot Size | 5,510 | 5,510 | 50% |
| Price | $865.0K | $750.0K | 94% |
| Price per sq ft | $475 | $410 | 59% |
| Built year | 1907 | 1922 | 12% |
| HOA | $0 | $0 | 50% |
| Days on market | 40 | 138 | 12% |
Apr 27, 2026
$865,000
Initial Listing
Nov 9, 2021
$1,950,000
Public Record
Jan 16, 2020
$625,000
Public Record