1406 Exposition Boulevard, Los Angeles, California 90018, Los Angeles, 90018 - bed, bath
ACTIVE$1,498,000
1406 Exposition Boulevard, Los Angeles, California 90018
0Bed
0Bath
3,996Sqft
6,005Lot
Year Built
1963
Close
-
List price
$1.5M
Original List price
$1.65M
Price/Sqft
$375
HOA
-
Days on market
-
Sold On
-
MLS number
PI25008231
Home ConditionGood
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.50M(85th), sqft - 3996(85th), beds - undefined(50th), baths - undefined(50th).
Excellent opportunity to invest in a multi-family property at 1406 Exposition Blvd. This four-unit building features spacious 3-bedroom, 1-bathroom apartments and is in superb condition. Located just a short distance from the prestigious University of Southern California (USC), this two-story property is situated in an Opportunity Zone. Built in 1963, the complex spans a total of 3,996 square feet on a 6,003-square-foot lot. The property boasts spacious floor plans. Each unit includes individually metered utilities, ensuring efficient utility management. Residents benefit from secure gated entry and dedicated parking spaces, which are covered and gated for added security. Conveniently positioned minutes from USC and just off the Expo at Western Station, prime access to Downtown and Santa Monica. Making it an ideal location for tenants seeking convenience with public transportation.
Nearby schools
3/10
Lenicia B. Weemes Elementary School
Public,•K-5•0.5mi
2/10
Martin Luther King Jr. Elementary School
Public,•K-5•0.5mi
4/10
Birdielee V. Bright Elementary School
Public,•K-5•0.6mi
2/10
John W. Mack Elementary School
Public,•K-5•0.8mi
5/10
Menlo Avenue Elementary School
Public,•K-5•1.0mi
2/10
Tom Bradley Global Awareness Magnet School
Public,•K-5•1.1mi
3/10
Normandie Avenue Elementary School
Public,•K-5•1.1mi
3/10
Sixth Avenue Elementary School
Public,•K-5•1.3mi
/10
Maple Primary Center
Public,•K-1•1.9mi
3/10
Trinity Street Elementary School
Public,•K-5•2.0mi
2/10
Barack Obama Global Preparation Academy
Public,•6-8•1.2mi
3/10
William Jefferson Clinton Middle School
Public,•6-8•1.6mi
2/10
Audubon Middle School
Public,•6-8•1.6mi
5/10
Foshay Learning Center
Public,•K-12•0.2mi
3/10
Manual Arts Senior High School
Public,•9-12•1.0mi
4/10
West Adams Preparatory High School
Public,•9-12•1.7mi
1/10
Crenshaw Science, Technology, Engineering, Math And Medicine Magnet
Public,•9-12•2.0mi
2/10
Susan Miller Dorsey Senior High School
Public,•9-12•2.5mi
5/10
Santee Education Complex
Public,•9-12•2.5mi
3/10
Nava College Preparatory Academy
Public,•9-12•3.0mi
Price History
Date
Event
Price
02/12/04
Sold
$250,000
08/20/02
Sold
$382,000
Condition Rating
Good
Despite being built in 1963, the property appears to have undergone significant and relatively recent interior renovations, likely within the last 5-15 years. The kitchens feature modern white shaker cabinets, dark countertops, stainless steel appliances, and subway tile backsplashes. Bathrooms are updated with clean vanities and subway tile surrounds. Flooring consists of modern laminate/vinyl plank in living areas and clean carpet in bedrooms. The overall condition, as described and depicted in the images, is 'superb' and move-in ready, meeting current rental market standards. While the building's age suggests major systems may be older, the visible components are well-maintained and updated, preventing a 'Fair' rating. However, the lack of specified modern amenities like central AC and the inherent age of the underlying structure prevent an 'Excellent' rating.
Pros & Cons
Pros
Prime Location & Transit Access: Strategically located a short distance from the University of Southern California (USC) and minutes from the Expo at Western Station, offering excellent public transportation access to Downtown and Santa Monica, ensuring a strong tenant pool.
Investment Opportunity Zone: Situated in an Opportunity Zone, this multi-family property presents potential tax advantages for investors, enhancing its long-term financial appeal.
Tenant-Friendly Features: The property boasts individually metered utilities, secure gated entry, and dedicated covered and gated parking, which are highly attractive amenities for tenants and simplify property management.
Spacious Units & Good Condition: Each of the four units features spacious 3-bedroom, 1-bathroom floor plans, and the building is described as being in 'superb condition,' suggesting reduced immediate maintenance costs for the buyer.
Desirable Unit Mix: The consistent offering of four 3-bedroom units caters to a broad tenant demographic, including student groups or families, optimizing rental income potential.
Cons
Age of Property: Built in 1963, the property's age suggests that major systems (e.g., plumbing, electrical, roof) may be nearing the end of their lifespan, potentially requiring significant capital expenditures in the future despite its current 'superb condition'.
Lack of Specified Modern Amenities: The description does not mention the presence of air conditioning or other modern comfort systems, which could be a competitive disadvantage in the Los Angeles climate and a potential tenant deterrent.
Recent Price Reduction: The property has undergone a notable price reduction from its original list price, which may indicate an initial overvaluation or market resistance, potentially raising questions about its current market value and buyer confidence.