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1418 1424 Isabel Street, Los Angeles, California 90065, Los Angeles, 90065 - bed, bath

1418 1424 Isabel Street, Los Angeles, California 90065 home-pic-0
ACTIVE$1,250,000
1418 1424 Isabel Street, Los Angeles, California 90065
0Bed
0Bath
1,637Sqft
9,004Lot
Year Built
1923
Close
-
List price
$1.25M
Original List price
$1.25M
Price/Sqft
$764
HOA
-
Days on market
-
Sold On
-
MLS number
GD25069955
Home ConditionGood
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.25M(75th), sqft - 1637(25th), beds - undefined(50th), baths - undefined(50th).

Specialized Realty proudly presents the sale of 1418-1424 Isabel St., an updated 4-unit income property with plans for two (2) 1bd/1 ba ADUs adding to the tremendous upside! Located in the highly coveted renter’s pocket of Glassell Park, it is an amazing investment opportunity to acquire a property strategically nestled between Eagle Rock, and Atwater Village, minutes away from Dodger Stadium and DTLA! The property consists of four (4) one (1) bed one (1) bath units covering 1,637 SF of building area on a sizeable 9,000 SF lot Zoned R1. Current gross rents total $7,347/mo, with 3 out of 4 tenants paying market value. This is a great opportunity to acquire an income property in an emerging market, priced to sell for only $312,500 a door with the ability to add 2 more units.

Nearby schools

2/10
Aragon Avenue Elementary School
Public,•K-5•0.4mi
4/10
Glassell Park Elementary School
Public,•K-6•0.6mi
7/10
Dorris Place Elementary School
Public,•K-6•0.8mi
4/10
Loreto Street Elementary School
Public,•K-5•1.1mi
2/10
Hillside Elementary School
Public,•K-5•1.3mi
3/10
Albion Street Elementary School
Public,•K-6•2.1mi
5/10
Florence Nightingale Middle School
Public,•6-8•1.0mi
6/10
Irving STEAM Magnet
Public,•6-8•1.5mi
5/10
Abraham Lincoln Senior High School
Public,•9-12•2.2mi

Price History

Date
Event
Price
01/18/23
Sold
$729,000
07/13/12
Sold
$189,000
04/28/06
Sold
$463,500
Condition Rating
Good
Despite being built in 1923, the property has undergone significant and recent updates, making it move-in ready. The images showcase modern kitchens with shaker-style cabinets and updated bathrooms with contemporary vanities, fixtures, and subway-style tiling. Flooring appears to be new LVP/laminate throughout, and recessed lighting, along with modern mini-split AC units, indicates recent system upgrades. While the underlying structure is old, the visible components are well-maintained and updated within the last 5-15 years, aligning with a 'Good' condition score.
Pros & Cons

Pros

ADU Development Potential: The property comes with plans for two additional 1-bedroom, 1-bathroom ADUs, offering significant upside potential for increased rental income and overall property value.
Prime Investment Location: Located in the 'highly coveted renter’s pocket of Glassell Park,' strategically positioned between Eagle Rock and Atwater Village, and minutes from Dodger Stadium and DTLA, ensuring strong rental demand and potential for appreciation.
Established Income Stream: Currently generating $7,347/month in gross rents from four units, with 3 out of 4 tenants paying market value, providing immediate and stable cash flow.
Large Lot Size: A sizeable 9,000 SF lot provides ample space for the existing quadruplex and is crucial for accommodating the proposed ADU additions.
Emerging Market Opportunity: Situated in an 'emerging market,' indicating strong potential for future property value appreciation and rental growth as the area continues to develop.

Cons

Age of Property & Potential Maintenance: Built in 1923, the property is nearly a century old. Despite being described as 'updated,' older buildings often incur higher maintenance costs and may have underlying infrastructure issues not immediately apparent.
Small Unit Sizes: The existing four units are all 1-bedroom, 1-bathroom, totaling only 1,637 SF. This translates to very small individual units (approximately 409 SF each), which could limit the tenant pool and potentially command lower rents per square foot.
Zoning Inconsistency/Clarification Needed: The property is described as a quadruplex on a lot 'Zoned R1.' R1 zoning typically designates single-family residential use. While ADUs are permissible, the existing quadruplex might be a non-conforming use, which could present future challenges or limitations without further clarification on its legal status.

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