$849,000 Price Analysis   ♡   Los Angeles, CA 90022 5 bed 3 bath 1,687 SqFt ($503/SqFt) 6,237SqFt lot. Built 1929 Listed 2024-04-17, Taxes $6,561 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
MAJOR PRICE IMPROVEMENT!!!
Welcome to an exceptional investment opportunity in East Los Angeles, California! This property boasts a total of five bedrooms and three bathrooms, divided among two units, making it an ideal income-generating asset. Currently offering a fantastic rental income potential, the property features below-market rents, prviding a significant value-add opportunity for savvy investors. The existing tenants at this location have been reliable occupants for years, enhancing the appeal of this investment property. The area is known for its high demand for rental properties, ensuring a steady stream of potential tenants. Additionally, the property includes ownership of solar panels that were installed in 2021.
Prospective investor buyers can inquire about acquiring the current financing arrangement for solar ownership, adding to the property's appeal as a sustainable investment. Furthermore, the current owner has plans to add two additional dwelling units to the property and possesses all the necessary specifications for this expansion. For those interested in exploring this opportunity, the owner's plans can be shared upon request. It is important to note that any potential investor should conduct their own due diligence with the city regarding the requirements and regulations for additional dwelling units (ADUs). This ensures compliance with local laws and regulations, providing a smooth transition for any planned expansions. Don't miss out on this rare opportunity to invest in a promising income property in a sought-after location in East Los Angeles. Contact us today to learn more and schedule a viewing of this remarkable investment property!
Presented by John Chapman at
COLDWELL BANKER LEADERS.
Property MLS #CV24076048 from CRMLS
Bedrooms On Main Level: 5
Full Bathrooms: 3
Bathrooms On Main Level: 3
Lot Size Acres: 0.1431818
Lot Size Source: Assessor
Lot Size Square Feet: 6237
Map directions Map directions Map directions Map directionsCounty: Los Angeles
Directions: E Olympic and S Arizona Ave
Source Property Type: Residential
Area: C16 - Mid Los Angeles
Property Subtype: townhouse
Source Neighborhood: C16 - Mid Los Angeles
Parcel Number: 5246023010
Postal Code Plus 4: 3712
Zoning: LCR4
Property Subtype: Duplex
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $147,963 + $321,660 $469,623 | $6,561 |
| 2021 | $145,062 + $315,353 $460,415 | $6,349 |
| 2020 | $143,575 + $312,120 $455,695 | $6,305 |
| 2019 | $140,760 + $306,000 $446,760 | $7,775 |
| 2018 | $138,000 + $300,000 $438,000 | $7,858 |
| 2017 | $37,151 + $22,789 $59,940 | $1,612 |
| 2016 | $36,423 + $22,343 $58,766 | $1,565 |
| 2015 | $35,876 + $22,008 $57,884 | $1,518 |
| 2014 | $35,174 + $21,577 $56,751 | $1,517 |
| 2013 | $35,016 + $21,480 $56,496 | $1,504 |
| 2012 | $34,330 + $21,059 $55,389 | $1,487 |
| 2010 | $33,657 + $20,647 $54,304 | $1,443 |
| 2009 | $33,486 + $20,542 $54,028 | $1,414 |
| 2009 | $33,406 + $20,493 $53,899 | $1,414 |
| 2008 | $32,830 + $20,140 $52,970 | $1,372 |
| 2007 | $32,187 + $19,746 $51,933 | $1,312 |
$849,000
CRMLS
Price Changed 2024-05-17
$889,000
CRMLS
Listed 2024-04-17
$899,000
CRMLS
Listing removed 2021-12-23
$0
CRMLS
Price Changed 2021-10-23
$775,000
CRMLS
Price Changed 2021-10-08
$750,000
CRMLS
Relisted 2021-09-24
$748,888
CRMLS
Listing removed 2021-09-23
$0
CRMLS
Listed 2021-09-19
$748,888
CRMLS
Year Built: 1929
Common Walls: 2+ Common Walls
Entry Level: 1
Entry Location: street
Living Area Source: Assessor
Property Age: 95
Property Attached: Yes
Levels or Stories: One
Building Total Stories: 1
Structure Type: Duplex
Year Built Source: Assessor
Water Source: Public
The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.