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10352 Anzac Avenue, Los Angeles, California 90002, Los Angeles, 90002 - 7 bed, 5 bath

10352 Anzac Avenue, Los Angeles, California 90002 home-pic-0
ACTIVE$699,000
10352 Anzac Avenue, Los Angeles, California 90002
7Beds
5Baths
2,660Sqft
3,251Lot
Year Built
2006
Close
-
List price
$699K
Original List price
$699K
Price/Sqft
$263
HOA
-
Days on market
-
Sold On
-
MLS number
SB25105855
Home ConditionGood
Features
Patio
View-

About this home

We found 4 Cons,5 Pros. Rank: price - $699.0K(80th), sqft - 2660(93th), beds - 7(96th), baths - 5(96th).

Discover an exceptional investment opportunity in Watts, Los Angeles. This property features a spacious six-bedroom, four-bathroom main home, currently utilized as a non-conforming duplex, alongside a newly constructed, legally permitted Accessory Dwelling Unit (ADU) providing flexible rental options. The property is in good condition, with minimal deferred maintenance required. The main home offers significant rental income potential, while the ADU is delivered vacant and in pristine condition, ready for immediate occupancy. Situated near the 105 and 110 freeways, with convenient access to local amenities, including the Watts Towers Arts Center, Ted Watkins Memorial Park, and various shopping and dining options. The property is approximately 15 minutes from Los Angeles International Airport (LAX). This property is ideal for investors seeking a high cash-flow asset with the potential for value appreciation. Current rents are below market value, presenting an immediate opportunity to increase cash flow. Additionally, it offers possibilities for owner-occupiers looking to reside in one unit while generating rental income from the others.

Price History

Date
Event
Price
09/16/16
Sold
$325,000
08/20/09
Sold
$159,000
11/30/06
Sold
$495,000
Condition Rating
Good
The property, built in 2006, is in good overall condition, as stated in the listing description, with minimal deferred maintenance. The main house features functional kitchens and bathrooms with stainless steel appliances, granite countertops, and tile/laminate flooring, which are well-maintained but reflect styles from the mid-2000s. While clean and move-in ready, these areas are not 'new or virtually new.' However, the property significantly benefits from a newly constructed, legally permitted Accessory Dwelling Unit (ADU) which is in pristine, modern condition with contemporary finishes. The ADU's excellent condition elevates the overall appeal, but the main house's age and slightly dated (though well-kept) finishes prevent the entire property from being classified as 'Excellent'.
Pros & Cons

Pros

High Income Potential & Immediate Upside: The property offers significant rental income potential, with a vacant ADU and current rents below market value, presenting immediate cash flow growth opportunities for investors.
Legally Permitted ADU: Features a newly constructed, legally permitted Accessory Dwelling Unit (ADU), which significantly enhances rental flexibility and overall property value.
Good Condition & Low Maintenance: The property is in good condition with minimal deferred maintenance required, reducing immediate capital expenditure for a new owner.
Strategic Freeway & LAX Access: Conveniently located near the 105 and 110 freeways and approximately 15 minutes from LAX, offering excellent connectivity and accessibility.
Versatile Investment Opportunity: Ideal for both investors seeking high cash flow and owner-occupiers looking to reside in one unit while generating rental income from the others.

Cons

Low Available Lot Utilization: The property has a small lot size, more than 70 percent of which is taken by its living area. lot size in square feet = 3251, living area = 2660.
Non-Conforming Duplex Status: The main home's current utilization as a non-conforming duplex presents potential legal and compliance challenges that require thorough due diligence.
Location Market Perception: Situated in Watts, the property may face specific market perceptions that could influence tenant demand or future appreciation for certain buyer segments.
Absence of Premium Views: The property lacks any specific desirable views, which could be a factor for buyers seeking properties with enhanced aesthetic appeal.

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