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9623 Bandera, Los Angeles, California 90002, Los Angeles, 90002 - bed, bath

9623 Bandera, Los Angeles, California 90002 home-pic-0
ACTIVE$850,000$2,208/sqft
9623 Bandera, Los Angeles, California 90002
0Bed
0Bath
2,208Sqft
7,150Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Strong Income Performance: The property boasts actual performance metrics of a 6.9% cap rate and an 11.8 GRM, indicating a robust and reliable income-producing asset for investors.
Top Cons:
Age of Property: Built in 1922, the property's underlying structure is over a century old, which, despite recent upgrades, may present unforeseen maintenance challenges or higher insurance costs in the long term.

Compared to the nearby listings

Price:$850.0K vs avg $880.0K ($-30,000)40%
Size:2,208 sqft vs avg 2,300 sqft40%
Price/sqft:$385 vs avg $34067%

More Insights

Built in 1922 (104 years old).
Condition: Despite being built in 1922, this duplex has undergone extensive recent renovations, including brand new windows, new flooring, fresh paint, updated tile, kitchen sinks, and modern finishes. The front unit features a newly remodeled bathroom and updated appliances, while the back unit has a new water heater. A reinforced foundation adds structural value. The kitchens and bathrooms appear clean, functional, and recently updated, making the property move-in ready. While the finishes are not high-end and there's no mention of a modern HVAC system, the significant recent upgrades justify a 'Good' rating, indicating it's well-maintained and requires no immediate renovations.
Year Built
1922
Close
-
List price
$850K
Original List price
$850K
Price/Sqft
$385
HOA
-
Days on market
-
Sold On
-
MLS number
DW26011671
Home ConditionGood
Features
Good View:
View-

About this home

Strong income-producing duplex in Los Angeles with actual performance metrics of a 6.9 percent cap rate and an 11.8 GRM. This updated, well-maintained property delivers real current returns, making it an excellent opportunity for investors seeking reliable cash flow today rather than projected returns. One unit is occupied by a long-term tenant with a documented history of on-time payments, providing stability and proven performance. The second unit is currently on a one-year RSO lease, giving any investor added confidence that returns are already in place and highly reliable from day one. The property features two separate units with recent upgrades throughout, including brand new windows, new flooring, fresh interior paint, updated tile, kitchen sinks, and modern finishes. The front unit includes a newly remodeled bathroom and updated appliances, while the back unit features a new water heater. Additional improvements include a reinforced foundation, adding long-term structural value and durability. Each unit offers separate laundry, and the property includes a long driveway with ample parking and a private backyard, a rare feature in Los Angeles. Conveniently located near freeways, shopping, and local amenities, this duplex benefits from strong rental demand and tenant appeal. Ideal for both investors and owner occupants seeking a move-in-ready duplex with dependable income, stability, and upside potential in a prime Los Angeles location.

H
Herbert Diaz
Listing Agent

Price History

Date
Event
Price
07/06/23
Sold
$690,000
Condition Rating
Good
Despite being built in 1922, this duplex has undergone extensive recent renovations, including brand new windows, new flooring, fresh paint, updated tile, kitchen sinks, and modern finishes. The front unit features a newly remodeled bathroom and updated appliances, while the back unit has a new water heater. A reinforced foundation adds structural value. The kitchens and bathrooms appear clean, functional, and recently updated, making the property move-in ready. While the finishes are not high-end and there's no mention of a modern HVAC system, the significant recent upgrades justify a 'Good' rating, indicating it's well-maintained and requires no immediate renovations.
Pros & Cons

Pros

Strong Income Performance: The property boasts actual performance metrics of a 6.9% cap rate and an 11.8 GRM, indicating a robust and reliable income-producing asset for investors.
Extensive Recent Upgrades: The duplex has undergone significant recent upgrades, including new windows, flooring, paint, updated tile, kitchen sinks, modern finishes, a remodeled bathroom, and a new water heater, reducing immediate capital expenditure for a new owner.
Tenant Stability & Proven Returns: One unit is occupied by a long-term tenant with a history of on-time payments, and the second has a one-year RSO lease, providing immediate and dependable cash flow from day one.
Desirable Tenant Amenities: Each unit offers separate laundry, and the property includes a long driveway with ample parking and a private backyard, features that enhance tenant appeal and retention in Los Angeles.
Structural Integrity & Location: A reinforced foundation adds long-term structural value, complemented by a convenient location near freeways, shopping, and local amenities, contributing to strong rental demand.

Cons

Age of Property: Built in 1922, the property's underlying structure is over a century old, which, despite recent upgrades, may present unforeseen maintenance challenges or higher insurance costs in the long term.
Rent Stabilization Ordinance (RSO) Implications: The mention of an RSO lease indicates the property is subject to rent control regulations, which can limit future rent increase potential and tenant management flexibility for investors.
Lack of Modern HVAC System Mention: While many upgrades are listed, there is no explicit mention of a central air conditioning or modern heating system, which could be a significant comfort factor and a potential future investment for tenants in the Los Angeles climate.
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