1063 E 49th Place, Los Angeles, California 90011, Los Angeles, 90011 - bed, bath
ACTIVE$1,090,000
1063 E 49th Place, Los Angeles, California 90011
0Bed
0Bath
3,321Sqft
5,912Lot
Year Built
1922
Close
-
List price
$1.09M
Original List price
$1.2M
Price/Sqft
$328
HOA
-
Days on market
-
Sold On
-
MLS number
PW24249491
Home ConditionFair
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.09M(88th), sqft - 3321(92th), beds - undefined(50th), baths - undefined(50th).
Come check out this beautiful Los Angeles Quadplex located in Central Alameda just minutes away from the Crypto Arena, USC, the Fashion District and so much more. Each unit has a mix consisting of 2 bed 1 bath with laundry hook-ups. There are approximately 10 parking spaces accompanied with an additional driveway that is currently leased out for parking and storage. The driveway is perfect for an ADU or a Commercial/Mixed use redevelopment. This property is C2-Zoned with a square foot of 3,321 and 5,912 lot.
Nearby schools
3/10
Sally Ride Elementary: A Smart Academy
Public,•K-5•0.2mi
2/10
Aurora Elementary School
Public,•K-5•0.2mi
2/10
Forty-Ninth Street Elementary School
Public,•K-5•0.3mi
2/10
Harmony Elementary School
Public,•K-5•0.6mi
2/10
Main Street Elementary School
Public,•K-5•1.0mi
4/10
Ricardo Lizarraga Elementary School
Public,•K-5•1.0mi
5/10
Estrella Elementary School
Public,•K-5•1.1mi
5/10
West Vernon Avenue Elementary School
Public,•K-5•1.4mi
3/10
Fifty-Second Street Elementary School
Public,•K-5•1.8mi
2/10
Marguerite Poindexter Lamotte Elementary
Public,•K-5•1.8mi
/10
Dr. James Edward Jones Primary Center
Public,•K-2•2.0mi
3/10
George Washington Carver Middle School
Public,•6-8•0.4mi
3/10
Los Angeles Academy Middle
Public,•6-8•0.6mi
3/10
William Jefferson Clinton Middle School
Public,•6-8•1.7mi
2/10
John Muir Middle School
Public,•6-8•2.1mi
2/10
Thomas Jefferson Senior High School
Public,•9-12•0.8mi
3/10
Nava College Preparatory Academy
Public,•9-12•0.8mi
2/10
Augustus F. Hawkins High A Critical Design And Gaming
Public,•9-12•2.0mi
3/10
Manual Arts Senior High School
Public,•9-12•2.1mi
5/10
Santee Education Complex
Public,•9-12•2.1mi
3/10
John C. Fremont Senior High School
Public,•9-12•2.1mi
Price History
Date
Event
Price
06/30/22
Sold
$987,000
09/15/06
Sold
$635,000
03/24/03
Sold
$345,000
03/25/02
Sold
$165,000
Condition Rating
Fair
Built in 1922, this quadplex shows its age. The images reveal significantly outdated kitchens and bathrooms with older cabinetry, basic laminate countertops, and dated appliances. Flooring appears to be a mix of older materials, and light fixtures are basic and not modern. While the property appears functional and maintained enough for rental purposes, it has not undergone extensive modern renovations in recent decades. It requires minor updates and modernization to bring it up to current standards, particularly in the key areas of kitchens and bathrooms, aligning with the 'fair' condition criteria.
Pros & Cons
Pros
Strong Income-Generating Asset: As a quadplex with four 2-bed/1-bath units, each featuring laundry hook-ups, the property offers significant and stable rental income potential.
Exceptional Location: Situated in Central Alameda, the property benefits from close proximity to major attractions like Crypto Arena, USC, and the Fashion District, ensuring high tenant demand and potential for appreciation.
High Redevelopment Potential: The C2-Zoning and generous 5,912 sqft lot provide excellent opportunities for future expansion, including the addition of an ADU or a complete commercial/mixed-use redevelopment.
Abundant Parking: The presence of approximately 10 parking spaces, plus an additional leased driveway, is a rare and highly valuable amenity in a dense urban area like Los Angeles.
Recent Price Adjustment: The reduction from an original list price of $1.2M to $1.09M indicates a motivated seller and potentially a more attractive entry point for buyers.
Cons
Advanced Age of Structure: Built in 1922, the property is over a century old, likely necessitating significant capital expenditures for system upgrades, structural maintenance, and modernization.
Subpar Local School Ratings: Several elementary and middle schools in the immediate vicinity carry lower ratings (2-3), which could be a disadvantage for prospective tenants or future buyers with school-aged children.
Unspecified Interior Condition/Deferred Maintenance: While an income property, the description does not detail recent renovations or the current interior condition of the units, suggesting potential for deferred maintenance or outdated finishes that would require investment to optimize rental value.