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1240 S Muirfield Road, Los Angeles, California 90019, Los Angeles, 90019 - bed, bath

1240 S Muirfield Road, Los Angeles, California 90019 home-pic-0
ACTIVE$1,295,000
1240 S Muirfield Road, Los Angeles, California 90019
0Bed
0Bath
1,582Sqft
4,840Lot
Year Built
1922
Close
-
List price
$1.29M
Original List price
$1.29M
Price/Sqft
$819
HOA
-
Days on market
-
Sold On
-
MLS number
PW25035035
Home ConditionFair
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.29M(50th), sqft - 1582(15th), beds - undefined(50th), baths - undefined(50th).

New roof has been installed! This is a perfect investment opportunity!! Welcome to 1240 Muirfield Ave, situated in Hancock Park- Mid City. It features 3 Units that can produce a substantial amount of rental income due to its location. All Three units are each 1 bedroom, one bathroom, with 3 Car Garages. All units are in good condition, painted all well-maintained. Centrally located, minutes away from The Beverly Center. Near restaurants, shopping centers, supermarkets, freeways, schools, museums, theaters, and most importantly it is less than a 10-20 min drive to DTLA and to the beaches. 2 additional ADUs may be built on the property, per Dept of Public & Safety. Property is part of a 4 units portfolio: 5144 W 21st St, Los Angeles, CA 90016, 2720 S Sycamore Ave, Los Angeles, CA 90016 & 1121 5th Ave, Los Angeles, CA 90019.

Condition Rating
Fair
The property, built in 1922, is over a century old. While the listing states 'All units are in good condition, painted all well-maintained' and a 'New roof has been installed,' indicating regular upkeep and a significant recent upgrade, the provided images are limited to the exterior, and interior images (especially of kitchens and bathrooms) are not available for evaluation. Given its age and without visual evidence of extensive recent renovations, it's highly probable that major components, including kitchens and bathrooms, are functional but outdated in style and features, consistent with a property of this age that has not undergone a full modern renovation. This aligns with the 'Fair' condition criteria, suggesting it requires minor updates or repairs to meet current standards.
Pros & Cons

Pros

Investment Opportunity & Income Potential: Explicitly marketed as a 'perfect investment opportunity' with three units capable of generating substantial rental income, ideal for investors.
Value-Add Potential: The property offers significant future value enhancement with the potential to build two additional ADUs (Accessory Dwelling Units), increasing rental capacity and overall value.
Prime Central Location: Situated in the desirable Hancock Park-Mid City area, offering excellent accessibility to The Beverly Center, DTLA, beaches, restaurants, shopping, and major freeways, appealing to a broad tenant base.
Recent Major Upgrade: A new roof has been recently installed, reducing immediate capital expenditure for the new owner and ensuring structural integrity.
Well-Maintained Units & Dedicated Parking: All three units are described as being in good condition, painted, and well-maintained, each with its own dedicated garage, which is a strong amenity for tenants.

Cons

Age of Property: Built in 1922, the property is over a century old, which may imply potential for aging infrastructure (e.g., plumbing, electrical) that could require future maintenance or upgrades despite current good condition.
Small Unit Footprint: With a total of 1582 sqft for three 1-bedroom units, each unit is relatively small, which might limit the tenant pool or rental income potential compared to properties with larger units.
Limited Unit Configuration: All three units are 1-bedroom, 1-bathroom, which lacks diversity in unit types and might not cater to all tenant demographics or market demands for larger living spaces.

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