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1340 W 23rd Street, Los Angeles, California 90007, Los Angeles, 90007 - bed, bath

1340 W 23rd Street, Los Angeles, California 90007 home-pic-0
ACTIVE$1,799,900
1340 W 23rd Street, Los Angeles, California 90007
0Bed
0Bath
5,814Sqft
6,476Lot
Year Built
1909
Close
-
List price
$1.8M
Original List price
$2.2M
Price/Sqft
$310
HOA
-
Days on market
-
Sold On
-
MLS number
DW24253588
Home ConditionFair
Features
Good View: City Lights
Patio
ViewCity Lights

About this home

We found 3 Cons,5 Pros. Rank: price - $1.80M(80th), sqft - 5814(80th), beds - undefined(50th), baths - undefined(50th).

BIG PRICE REDUCTION!!! YOU WON'T FIND ANYTHING BETTER!!! Live in one rent the other 3!!! Excelent for first time buyer or a large family! Great Investment Opportunity! In a great location! Perfect for one or more families! This four unit residential is walking distance from USC, is perfect for investors, owner-occupants, and student housing alike. It's within USC student Lift zone! It is also close to Exposition Park, a popular tourist attraction that hosts museums, gardens, and a rose garden. Easy access to 10 freeway and transportation. Minutes from Downtown Los Angeles Two story building with two units on each level. "Nice view of the downtown skyscrapers from upstairs units front porch" This is a rare opportunity to invest in a prime location! Legal description shows 2 bedrooms one bath, but each unit physically has 3 bedrooms 1 1/4 baths. Very spacious units! Each unit has its own laundry room with washer and dryer hookups. All units have the same floor plan. ROOF IS LESS THAN A YEAR NEW! Same family ownership for past 55 yrs. Long driveway. EACH UNIT IS APPROX. 1,450 SQ FT. Exposition Park will play host to many key activities and events in the upcoming 2026 World Cup and the 2028 LA Olympics. !!! First time buyers can buy with low down payment. Don’t miss your chance to own this exceptional property in a highly sought-after location.

Nearby schools

5/10
Vermont Avenue Elementary School
Public,•K-5•0.5mi
4/10
Norwood Street Elementary School
Public,•K-5•0.5mi
2/10
John W. Mack Elementary School
Public,•K-5•0.7mi
3/10
Lenicia B. Weemes Elementary School
Public,•K-5•1.0mi
5/10
Menlo Avenue Elementary School
Public,•K-5•1.9mi
4/10
John Adams Middle School
Public,•6-8•1.2mi
3/10
William Jefferson Clinton Middle School
Public,•6-8•1.3mi
2/10
Barack Obama Global Preparation Academy
Public,•6-8•2.6mi
4/10
West Adams Preparatory High School
Public,•9-12•0.4mi
5/10
Foshay Learning Center
Public,•K-12•1.5mi
3/10
Manual Arts Senior High School
Public,•9-12•1.9mi
Condition Rating
Fair
Built in 1909, this property is aged but appears to be maintained through regular upkeep. The most significant recent update is a new roof (less than a year old). However, the interiors, particularly the kitchens and bathrooms, are significantly outdated with older appliances, basic cabinetry, laminate/tile countertops, and dated fixtures. While functional and livable, these areas show clear signs of being from a renovation 20-40+ years ago, or are original with basic maintenance, and would require substantial aesthetic updates to meet modern standards. The flooring is a mix of older hardwood and linoleum, and light fixtures are basic. There are no visible signs of major structural defects or safety concerns that would classify it as 'Poor', but it is far from 'Good' due to the very dated interior finishes.
Pros & Cons

Pros

Income & Investment Potential: As a quadruplex, the property offers significant income potential, allowing for owner-occupancy while renting out three additional units, making it ideal for investors or large families.
Strategic Location: Highly desirable location within walking distance to USC (including the USC Lift Zone), close to Exposition Park (a future major event site for the 2026 World Cup and 2028 Olympics), and easy access to Downtown LA and major freeways.
Spacious Units with In-Unit Laundry: Each of the four units is approximately 1,450 sq ft, providing ample living space, and includes convenient in-unit washer/dryer hookups.
Recent Capital Improvement: A major capital improvement, the roof is less than a year old, providing peace of mind and reducing immediate maintenance concerns for the new owner.
City Views: The upstairs units offer desirable views of the downtown Los Angeles skyscrapers from their front porches, enhancing tenant appeal and potential rental value.

Cons

Legal vs. Physical Unit Discrepancy: A significant concern is the discrepancy between the legal description (2 bedrooms/1 bath per unit) and the physical configuration (3 bedrooms/1.25 baths), which could lead to issues with appraisal, financing, and may require costly legalization.
Age of Building & Systems: Built in 1909, the property is over a century old. While the roof is new, other major systems (e.g., plumbing, electrical, foundation) are likely original or outdated, suggesting potential for significant future repair or upgrade costs.
Potential for Deferred Maintenance: With the same family ownership for 55 years, there's a higher likelihood of deferred maintenance and a lack of modern updates beyond the roof, which could require substantial investment from a new owner to optimize the property's condition and maximize rental income.

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