$699000 Price Analysis   ♡   Los Angeles, CA 90011 3 bed 3 bath 1557 SqFt ($448/SqFt) 6252SqFt lot. Built 1904 Listed 2024-07-04, Taxes $5800 | Ⓧ USDA Ineligible due to location near Los Angeles |
OFFER DEADLINE - MONDAY
7/15 ::: Welcome to the TWIN PALMS TRIPLEX near the Historic Central Ave District! AMAZING investment opportunity to own a charming, corner-lot property with tremendous upside income potential. Live in one unit and rent out the other two to pay your mortgage. Classic details and sunlit spaces highlight this turn-of-the-century Craftsman property which boasts many updates - PRISTINE paint, ceiling fans, laminate flooring, recessed lighting, double pane windows, new landscaping for Unit #1 and updated Kitchens and Baths. The Main House has two (2) units with covered porches - UNIT #1 is a 1BR/1BA plus a BONUS DEN (est. 628SF +/-) and UNIT #2 is a Studio with 1BA (est. 628SF +/-) and has its own laundry.
The detached Studio Garage Unit #3 with 1 BA is est. 300SF +/-. There are 3 Electrc meters / 3 Gas meters / 1 Water meter. The XL Backyard is fully-fenced with mature, enveloping trees and currently used for ample parking. Unit #1 has its own separate yard spaces with a new DG covering, landscaping and a thriving Banana tree. Tons of potential to create separate yard spaces fo r the other two units, dedicated parking spaces and/or a large, landscaped patio. The beautiful, mature twin palms in the front yard are some of the tallest palms in the area and can be seen for miles swaying in the LA skyline. The area has a vibrant cultural, social and entertainment history and is home to the yearly famed Central Ave Jazz festival. Centrally located near restaurants, shopping, major freeways, USC, DTLA and public transportation. Units are currently or will be vacant at the close of escrow so you can set the rent to the current market value. If you're looking for a smart investment opportunity with a good Cap Rate of 6.9%, then this is your perfect chance.
Presented by Simone Poingsett at
Coldwell Banker Realty - Studio City.
Property MLS #23-338163 from TheMLSCLAW
Full Bathrooms: 3
Range
Microwave
Heating Features: Wall
Window Features: Double Pane Windows
Lot Size Acres: 0.1435262
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 6252
Parking Total: 4
Calculated Total Monthly Association Fees: 0
Number of Units: 3
Unit Features: 1 BedsTotal: 1, 1 BathsTotal: 1, 1 SquareFeet: 2000, 2 BedsTotal: 1, 2 BathsTotal: 1, 2 SquareFeet: 1800, 3 BedsTotal: 1, 3 BathsTotal: 1, 3 SquareFeet: 1000
County: Los Angeles
Cap Rate: 6.9
Directions: South of MLK / West of Central Ave
Source Property Type: Residential Income
Exclusions: Staging, Tenant personal items in Unit #2 including some appliances and portable A/C.
Inclusions: Rolling island and appliances in Unit #1. Portable A/C, microwave, and fridge in Unit #3 garage unit. Unit #2 - stove and dishwasher only.
Area: Downtown L.A.
Source Neighborhood: Downtown L.A.
Number of Separate Electric Meters: 3
Number of Separate Gas Meters: 3
Owner Pays: Water, Gardener
Parcel Number: 5115-022-029
Postal Code Plus 4: 3150
Property Location: City
Zoning: LAR2
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $130345 + $336376 $466721 | $5800 |
| 2021 | $127790 + $329781 $457571 | $5726 |
| 2020 | $126480 + $326400 $452880 | $5781 |
| 2019 | $132600 + $295800 $428400 | $5376 |
| 2018 | $130000 + $290000 $420000 | $5302 |
| 2017 | $97834 + $61037 $158871 | $2171 |
| 2016 | $95916 + $59841 $155757 | $2112 |
| 2015 | $94476 + $58943 $153419 | $2085 |
| 2014 | $92626 + $57789 $150415 | $2112 |
| 2013 | $92208 + $57528 $149736 | $2112 |
| 2012 | $90400 + $56400 $146800 | $2139 |
| 2010 | $150000 + $180000 $330000 | $5240 |
| 2009 | $148777 + $394311 $543088 | $6909 |
| 2009 | $130000 + $260000 $390000 | $6909 |
| 2008 | $145860 + $386580 $532440 | $6616 |
| 2007 | $78928 + $54393 $133321 | $1837 |
$699000
TheMLSCLAW
Sold 2019-04-22
$444000
CRMLS
Listing removed 2019-03-14
$439990
CRMLS
Listing removed 2019-03-13
$0
CRMLS
Listed 2019-03-13
$439990
CRMLS
Listing removed 2019-01-16
$0
CRMLS
Listed 2019-01-15
$439990
CRMLS
Listed 2018-12-06
$439000
CRMLS
Listing removed 2018-11-29
$0
CRMLS
Listing removed 2018-10-19
$220000
CRISNET
Listing removed 2018-10-11
$439000
CRMLS
Listed 2018-10-10
$439000
CRMLS
Listing removed 2018-10-10
$0
CRMLS
Price Changed 2018-09-26
$439000
CRMLS
Price Changed 2018-09-06
$447000
CRMLS
Listing removed 2018-08-30
$449990
CRMLS
Listed 2018-08-29
$449990
CRMLS
Listed 2018-06-07
$449990
CRMLS
Listing removed 2018-03-30
$349990
CRMLS
Relisted 2018-02-19
$349990
CRMLS
Listing removed 2018-02-17
$349990
CRMLS
Listed 2018-02-15
$349990
CRMLS
Listing removed 2017-03-22
$375000
CRMLS
Relisted 2017-02-16
$375000
CRMLS
Listing removed 2017-01-17
$375000
CRMLS
Relisted 2017-01-15
$375000
CRMLS
Listing removed 2016-12-16
$375000
CRMLS
Listed 2016-06-21
$375000
CRMLS
Listing removed 2011-08-15
$220000
ITECH
Listing removed 2011-08-15
$220000
CRISNET
Listed 2011-06-15
$220000
ITECH
Listed 2011-06-15
$220000
CRISNET
Sold 1998-04-07
$110500
Public Record
Year Built: 1904
Direction Faces: South, East
Levels: One Level
Living Area Source: Assessor
Property Age: 120
Property Condition: Repair Cosmetic, Updated/Remodeled
Levels or Stories: 1
Building Total Stories: 1
House Style: Craftsman
Year Built Source: Vendor Enhanced
Architectural Style: Craftsman
Sewer: In Street
Security Features: Gated
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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.