RealKey
‪(213) 433-7766‬

1273 S Alma, Los Angeles, California 90023, Los Angeles, 90023 - bed, bath

1273 S Alma, Los Angeles, California 90023 home-pic-0
ACTIVE$839,000
1273 S Alma, Los Angeles, California 90023
0Bed
0Bath
1,518Sqft
5,241Lot
Year Built
1928
Close
-
List price
$839K
Original List price
$799K
Price/Sqft
$553
HOA
-
Days on market
-
Sold On
-
MLS number
CV25243701
Home ConditionFair
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $839.0K(77th), sqft - 1518(46th), beds - undefined(50th), baths - undefined(50th).

**$839,000. FULLY LEASED FOR SALE, RESIDENTIAL INCOME. 3 ON A LOT PLUS THE UNKNOWN IF PERMITTED GARAGE CONVERTED INTO A STUDIO WITH OWN BATHROOM. ( Triplex Property For Sale ) The front unit is a Duplex one-bedroom, one-bath unit. ** Rear House**: Two bedrooms, one bath, plus a bonus room used as a 3rd bedroom. All units are currently rented and will be delivered with tenants in possession. Additionally, there’s a two-car garage that has been converted into a studio with one bathroom; permit status is unknown. This setup has been in place for over 30 years. - **Sale Details**: The property is being sold as-is in its present condition. If you're interested in a multi-family investment or looking for a place to call home, this could be a great opportunity! 3.5% ENGANCHE MÁS COSTOS DE CIERRE. LLAME HOY DÍA. PRIMER COMPRADOR, SÍ SE PUEDE. 1275, 1273 & 1273 1/2 S ALMA AVE. IN FAIR CONDITION. FULLY LEASED TENGO EL PRESTAMISTA AQUÉ SÍ LE AYUDA A ENTRAR CON SOLO 3.5% DE ENGANCHE. CALL ME 626-606-4888 Total income $4600 + $600 garage unpermitted rented for $600.

Price History

Date
Event
Price
11/12/25
Price Change
$839,000+5.0%
10/20/25
Listing
$799,000
09/27/23
Sold
$675,000
Condition Rating
Fair
The property, built in 1928, is explicitly described as being 'IN FAIR CONDITION' and is being sold 'as-is'. Exterior images reveal significant signs of age, including faded paint, security bars, a rusty fence, and old concrete, indicating deferred maintenance. The listing also notes that the current 'setup has been in place for over 30 years,' suggesting a lack of recent major renovations. While no interior photos are provided, the age and 'as-is' sale strongly imply that kitchens and bathrooms are outdated and likely require updates. The unpermitted garage conversion is a significant concern. However, the property is fully leased, indicating it is currently habitable, aligning with the 'Fair' category which describes homes that are aged but maintained through regular upkeep and occasional updates, with major components functional but showing signs of being outdated, and requiring minor updates or repairs.
Pros & Cons

Pros

Strong Income Potential: The property is fully leased, generating a total stated income of $5200/month ($4600 from units + $600 from garage), providing immediate and substantial cash flow for an investor.
Multi-Unit Investment: Configured as a triplex (duplex front unit, rear house, plus converted garage studio), it offers diversified income streams and higher rental yield potential compared to single-family properties.
Desirable Los Angeles Location: Situated in Boyle Heights, Los Angeles, a high-demand rental market with potential for long-term appreciation and a consistent tenant pool.
Established Rental History: The current setup has been in place for over 30 years with all units currently rented, indicating a stable and proven income-generating asset.
Accessible Financing Options: The listing highlights potential for low down payment financing (3.5% enganche), which can broaden the buyer pool and make the investment more accessible.

Cons

Unpermitted Garage Conversion: The two-car garage has been converted into a studio with a bathroom, but its permit status is unknown, posing significant legal, financial, and code compliance risks for the buyer.
As-Is Sale Condition: The property is being sold 'as-is' in its present condition, meaning the buyer will be responsible for all necessary repairs, maintenance, and upgrades, which could be substantial given its 1928 build year and 'fair condition'.
Significant Price Increase: The current list price of $839,000 represents a substantial increase from its last sale price of $675,000 in September 2023, raising concerns about potential overpricing and valuation in a short period.

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI

Browse Properties by State Browse housing market trends by state