1321 E 48th Street, Los Angeles, California 90011, Los Angeles, - bed, bath

home-pic
ACTIVE UNDER CONTRACT$995,000
1321 E 48th Street, Los Angeles, California 90011
0Bed
0Bath
2,292Sqft
4,989Lot
Year Built
1922
Close
-
List price
$995K
Original List price
$995K
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
SB25003293
Home ConditionFair
Features
View-

About this home

4-Unit Turnkey property to be delivered FULLY VACANT by close of escrow. Updated electrical and new copper plumbing. The building features one 2- bed/1-bath unit and three 1-bed/1-bath units, with all 4 units delivered vacant, offering a prime opportunity for an investor or owner-occupier. 4 uncovered parking spaces in the rear can be converted to two stacked ADUs. With this addition, the cap rate jumps from an already attractive 8.26% to an impressive 13.31%, offering substantial returns. For investors, this is a cash cow with the ability to stabilize and generate significant cash flow. For owner-users, it’s a perfect opportunity to occupy one unit, have two units cover your mortgage, and enjoy pure profit from the fourth unit. Don’t miss this rare chance to maximize value in a sought-after area!

Nearby schools

4/10
Ascot Avenue Elementary School
Public,K-50.3mi
2/10
Hooper Avenue Elementary School
Public,1-50.3mi
3/10
Sally Ride Elementary: A Smart Academy
Public,K-50.3mi
2/10
Aurora Elementary School
Public,K-50.5mi
2/10
Forty-Ninth Street Elementary School
Public,K-50.6mi
2/10
Harmony Elementary School
Public,K-50.7mi
2/10
Holmes Avenue Elementary School
Public,K-60.7mi
3/10
Wadsworth Avenue Elementary School
Public,K-50.7mi
4/10
Nevin Avenue Elementary School
Public,K-50.9mi
4/10
Quincy Jones Elementary School
Public,K-51.1mi
5/10
Lillian Street Elementary School
Public,K-61.2mi
3/10
Twenty-Eighth Street Elementary School
Public,K-51.4mi
5/10
Estrella Elementary School
Public,K-51.4mi
5/10
Twentieth Street Elementary School
Public,K-51.5mi
5/10
Pacific Boulevard School
Public,K-51.7mi
3/10
George Washington Carver Middle School
Public,6-80.6mi
3/10
Los Angeles Academy Middle
Public,6-80.9mi
2/10
Dr. Julian Nava Learning Academies-School Of Business And Technology
Public,6-81.1mi
6/10
Vernon City Elementary School
Public,K-71.2mi
3/10
Thomas A. Edison Middle School
Public,6-81.3mi
3/10
Henry T. Gage Middle School
Public,6-82.4mi
2/10
Thomas Jefferson Senior High School
Public,9-120.6mi
3/10
Nava College Preparatory Academy
Public,9-120.6mi
5/10
Santee Education Complex
Public,9-122.0mi
4/10
Huntington Park Senior High School
Public,9-122.1mi
3/10
John C. Fremont Senior High School
Public,9-122.3mi
5/10
STEM Academy of Boyle Heights HS
Public,9-123.5mi
5/10
Felicitas And Gonzalo Mendez High
Public,9-123.6mi

Price History

Date
Event
Price
02/26/25
Sold
$995,000
10/18/24
Sold
$725,000
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (24 Listings)
Beds00
Baths00
Square foot2,2921,988
68%
Lot Size4,9895,363
28%
Price$995K$710K
88%
Price per square foot$434$349
76%
Built year19221922
50%
HOA
Days on market302167
92%
Condition Rating
Fair

The property was built in 1922. The listing mentions updated electrical and new copper plumbing, but the images show kitchens and bathrooms with dated styles and features. While functional, they likely require updates to meet modern standards. The overall condition appears to be maintained but aged, fitting the 'fair' category.
Pros & Cons

Pros

Turnkey Investment: The property is a 4-unit turnkey investment, to be delivered fully vacant, offering immediate income potential.
Value Add Potential: The property has the potential to increase its cap rate significantly by converting the parking spaces into ADUs.
Updated Systems: The property features updated electrical and new copper plumbing, reducing potential maintenance costs.

Cons

Limited Parking: The property only has 4 uncovered parking spaces, which may be insufficient for tenants.
Age of Property: Built in 1922, the property may require ongoing maintenance and potential upgrades due to its age.

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