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1022 Geraghty Avenue, Los Angeles, California 90063, Los Angeles, 90063 - bed, bath

1022 Geraghty Avenue, Los Angeles, California 90063 home-pic-0
ACTIVE UNDER CONTRACT$810,000
1022 Geraghty Avenue, Los Angeles, California 90063
0Bed
0Bath
2,112Sqft
7,640Lot
Year Built
1941
Close
-
List price
$810K
Original List price
$850K
Price/Sqft
$384
HOA
-
Days on market
-
Sold On
-
MLS number
SR25162575
Home ConditionPoor
Features
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $810.0K(54th), sqft - 2112(54th), beds - undefined(50th), baths - undefined(50th).

No Rent Control. Triplex at 1022, 1024, 1028 Geraghty Ave. The tenants are responsible for all utility payments and prefer to stay. They have lived in the property for 15 to 25 years. According to the assessor, the building has a square footage of 2,112. The property features a spacious 7,741 square feet with ample parking. Without the necessary permits, one of the unit's garages has been converted into a bedroom and a storage room (not included in the living square footage). The owner is currently making some repairs before the close of escrow. The property is located in an excellent area, within walking distance of City Terrace Park, bus stops, restaurants, grocery stores, 10 FWY, and more. The current owner has held the property for nearly 14 years. **Excellent income property, low maintenance.

Price History

Date
Event
Price
08/16/25
Price Change
$810,000
07/20/25
Listing
$850,000
10/14/11
Sold
$235,000
Condition Rating
Poor
Built in 1941, this triplex shows significant signs of age and deferred maintenance. While some individual kitchen appliances appear newer, the overall kitchens feature older cabinets and basic finishes. Bathrooms are very dated with basic fixtures and older tile. Flooring is primarily older ceramic tile or worn carpet. The property exhibits considerable wear and tear, clutter, and an unkempt exterior. The description explicitly mentions an unpermitted garage conversion, which is a significant defect requiring substantial rehabilitation and potentially affecting safety or legal compliance. The property is functional but requires substantial repairs and rehabilitation to meet modern standards and address existing issues.
Pros & Cons

Pros

No Rent Control: The property is exempt from Los Angeles rent control ordinances, offering greater flexibility in rent management and potential for higher returns.
Multi-Unit Income Property: As a triplex, the property provides diversified income streams, enhancing its appeal as a robust investment opportunity.
Stable, Long-Term Tenancy: Tenants have occupied the units for 15-25 years and prefer to stay, ensuring consistent rental income and minimizing vacancy risks.
Excellent Location & Accessibility: Strategically located within walking distance to City Terrace Park, public transportation, retail, and the 10 FWY, offering high convenience for residents.
Spacious Lot with Ample Parking: The property boasts a generous 7,741 square foot lot with ample parking, a valuable amenity in a dense urban setting.

Cons

Unpermitted Conversion: A garage has been converted into living space without necessary permits, which could lead to code compliance issues or require costly legalization/remediation.
Property Age: Built in 1941, the property may have aging infrastructure and systems that could necessitate significant future maintenance or upgrades despite current repairs.
Recent Price Reduction: The listing price was recently reduced from $850,000 to $810,000, potentially indicating initial overpricing or market resistance at the higher price point.

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