1311 Dewey Avenue, Los Angeles, California 90006, Los Angeles, 90006 - 4 bed, 2 bath
ACTIVE$964,000
1311 Dewey Avenue, Los Angeles, California 90006
4Beds
2Baths
2,041Sqft
2,291Lot
Year Built
1905
Close
-
List price
$964K
Original List price
$950K
Price/Sqft
$472
HOA
-
Days on market
-
Sold On
-
MLS number
MB25055837
Home ConditionFair
Features
Patio
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $964.0K(50th), sqft - 2041(33th), beds - 4(67th), baths - 2(67th).
Seller will participate in buyers 2-1 buy down interest rate up to $15k. DUPLEX, DUPLEX, DUPLEX!!!!! Welcome to 1311 and 1311 1/2 Dewey Ave, Located in the vibrant heart of Los Angeles, this property is ideally situated close to Downtown Los Angeles, Crypto Arena, USC, Loyola High School, and many other notable attractions. Offering a unique opportunity, you can reside in one unit while generating income from the other. An excellent option for both living and investment. Situated in a prime location, this property benefits from a high-demand rental area. Both units feature a well-designed layout with 3 bedrooms and 1 bathroom. According to seller, Each unit can be rented out for a minimum of $3,500.
Nearby schools
/10
Mariposa-Nabi Primary Center
Public,•K-2•0.5mi
3/10
Magnolia Avenue Elementary School
Public,•K-6•0.5mi
3/10
Los Angeles Elementary School
Public,•K-5•0.5mi
3/10
Leo Politi Elementary School
Public,•K-5•0.6mi
3/10
Hobart Boulevard Elementary School
Public,•K-5•0.7mi
3/10
Rfk Community Schools - Ambassador School - Global Education
Public,•K-5•0.8mi
8/10
Hoover Street Elementary School
Public,•K-5•0.9mi
5/10
Vermont Avenue Elementary School
Public,•K-5•1.1mi
2/10
Twenty-Fourth Street Elementary School
Public,•K-5•1.2mi
3/10
Macarthur Park Elementary School For The Visual And Performing Arts
Public,•K-5•1.2mi
4/10
Norwood Street Elementary School
Public,•K-5•1.3mi
2/10
Tenth Street Elementary School
Public,•K-5•1.3mi
6/10
Carson-Gore Academy Of Enviornmental Studies
Public,•K-5•1.4mi
3/10
Berendo Middle School
Public,•6-8•0.3mi
5/10
Pio Pico Middle School
Public,•6-8•1.2mi
3/10
John H. Liechty Middle School
Public,•6-8•1.6mi
3/10
Johnnie Cochran, Jr., Middle School
Public,•6-8•1.8mi
4/10
John Adams Middle School
Public,•6-8•2.1mi
4/10
West Adams Preparatory High School
Public,•9-12•0.6mi
3/10
Rfk Community Schools-Ambassador-Global Leadership
Public,•6-12•0.9mi
4/10
Rfk Community Schools-Los Angeles High School Of The Arts
Public,•9-12•0.9mi
5/10
Rfk Community Schools- For The Visual Arts And Humanities
Public,•9-12•0.9mi
5/10
Foshay Learning Center
Public,•K-12•2.0mi
3/10
Belmont Senior High School
Public,•9-12•2.1mi
5/10
Santee Education Complex
Public,•9-12•2.3mi
3/10
Nava College Preparatory Academy
Public,•9-12•3.6mi
Price History
Date
Event
Price
08/08/14
Sold
$495,000
08/07/13
Sold
$330,000
05/12/98
Sold
$174,000
Condition Rating
Fair
Built in 1905, this duplex shows its age despite appearing maintained. The kitchens feature dated dark wood cabinets, basic countertops, and older light fixtures, suggesting updates from 15-30 years ago. Bathrooms are very basic and outdated. While the laminate flooring in bedrooms looks more recent, the overall property, especially the wet areas, requires minor updates to meet current standards and appeal. Major systems are likely functional but show signs of being outdated, aligning with the 'Fair' condition criteria.
Pros & Cons
Pros
Income-Generating Duplex: The property is a duplex, offering a unique opportunity for owner-occupancy with rental income from the second unit, or as a pure investment property.
Prime Los Angeles Location: Ideally situated in a vibrant area close to Downtown Los Angeles, Crypto Arena, USC, and other major attractions, ensuring high demand and potential appreciation.
Seller Interest Rate Buy-Down Incentive: The seller is offering to participate in a 2-1 buy-down interest rate up to $15k, providing a significant financial benefit to the buyer.
Strong Rental Income Potential: Each unit is projected to rent for a minimum of $3,500, indicating robust cash flow and a high-demand rental market.
Desirable Unit Configuration: Both units feature a 3-bedroom, 1-bathroom layout, which is highly attractive to families or multiple tenants, maximizing rental appeal.
Cons
Age of Property: Built in 1905, the property is over a century old, which may imply outdated systems, potential for deferred maintenance, and higher renovation costs.
Limited Outdoor Space: The lot size of 2291 sqft is relatively small for a duplex, offering minimal outdoor space which might be a drawback for some tenants or owner-occupants.
Lack of Renovation Details: The description does not specify any recent upgrades or the current condition of the units, suggesting potential for significant capital expenditure to modernize or maintain.