1123 W 18th Street, Los Angeles, California 90015, Los Angeles, 90015 - bed, bath
ACTIVE$814,400
1123 W 18th Street, Los Angeles, California 90015
0Bed
0Bath
3,680Sqft
8,840Lot
Year Built
1905
Close
-
List price
$814K
Original List price
$965K
Price/Sqft
$221
HOA
-
Days on market
-
Sold On
-
MLS number
IV24214760
Home ConditionPoor
Features
View-
About this home
We found 3 Cons,5 Pros.
Opportunity awaits you in Los Angeles, CA. Fourplex property with a total square footage of 3,680 square feet. Property sits on a good size lot of 8,840 square feet. At this price in this location if you blink it will be SOLD. Buyers check City, County, Zoning, Tax, and other records to their satisfaction. AS-IS SALE property.
Price History
Date
Event
Price
02/27/02
Sold
$190,500
Condition Rating
Poor
Built in 1905 and sold 'AS-IS,' this property is explicitly noted to require 'extensive capital expenditure for system upgrades (electrical, plumbing, HVAC) and general modernization.' The property analysis also highlights 'potential for deferred maintenance.' While no interior images are provided, the age and 'as-is' condition strongly indicate that kitchens, bathrooms, and all major systems are severely outdated, likely in poor condition, and necessitate substantial repairs and rehabilitation to meet current standards and ensure safety and comfort.
Pros & Cons
Pros
Prime Urban Location: Situated in Los Angeles, a highly desirable and competitive market, ensuring strong rental demand and potential for appreciation.
Income-Generating Quadruplex: A multi-unit residential income property (fourplex) offers immediate cash flow potential and diversification for investors.
Substantial Lot Size: An 8,840 sqft lot provides significant outdoor space, potential for additional parking, or future development opportunities in a dense urban environment.
Significant Price Adjustment: A notable reduction of $150,200 from the original list price suggests a motivated seller and potential for a favorable acquisition cost.
Ample Total Square Footage: With 3,680 sqft across four units, the property offers generous living spaces, enhancing rental appeal and tenant comfort.
Cons
Historic Property (Built 1905): The property's age indicates a high likelihood of requiring extensive capital expenditure for system upgrades (electrical, plumbing, HVAC) and general modernization.
As-Is Sale Condition: The seller's 'as-is' stipulation transfers all responsibility for repairs and potential unforeseen issues to the buyer, increasing financial risk and due diligence requirements.
Potential for Deferred Maintenance: Given its age and 'as-is' status, the property likely has accumulated deferred maintenance, necessitating significant investment to bring it to current market standards and maximize rental income.