143 N Reno Street, Los Angeles, California 90026, Los Angeles, 90026 - bed, bath
ACTIVE$1,995,000
143 N Reno Street, Los Angeles, California 90026
0Bed
0Bath
9,240Sqft
6,000Lot
Year Built
1927
Close
-
List price
$2M
Original List price
$2M
Price/Sqft
$216
HOA
-
Days on market
-
Sold On
-
MLS number
PW25215111
Home ConditionPoor
Features
Good View:
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $2.00M(50th), sqft - 9240(50th), beds - undefined(50th), baths - undefined(50th).
143 North Reno Street in Los Angeles’ popular Westlake neighborhood. Under the same ownership for 25 years, this offering is an excellent opportunity to reposition a pride-of-ownership asset and capture 44 percent rental upside. 143 North Reno Street is a well-maintained, Spanish-style 1927 construction with 13 studios and three one-bedroom/one-bath units. The building also offers on-site laundry. The property’s Westlake location offers easy access to world-class entertainment, dining and retail, and convenient proximity to the 101 Freeway and Downtown Los Angeles.
Price History
Date
Event
Price
09/11/25
Listing
$1,995,000
Condition Rating
Poor
Built in 1927, this property is nearly 100 years old. While described as 'well-maintained' and a 'pride-of-ownership asset,' the listing explicitly states an 'opportunity to reposition' and 'capture 44 percent rental upside.' This strongly indicates that the interiors, particularly kitchens and bathrooms, are significantly outdated and require substantial renovation and rehabilitation to meet modern standards and achieve higher market rents. The lack of interior images further supports the assumption that these areas are not a selling point. The exterior appears maintained but not recently updated, with dated awnings and landscaping. This aligns with the 'poor' category, which requires substantial repairs and rehabilitation, even if the core structure is sound.
Pros & Cons
Pros
Prime Westlake Location: The property boasts an excellent Westlake location, offering convenient access to world-class entertainment, dining, retail, the 101 Freeway, and Downtown Los Angeles, enhancing tenant appeal.
Significant Rental Upside: Explicitly identified opportunity to capture 44 percent rental upside, making it a highly attractive investment for value-add strategies.
Multi-Unit Income Property: Comprising 13 studios and 3 one-bedroom units, this 16-unit building provides diversified and substantial rental income potential.
Well-Maintained Spanish-Style Architecture: A well-maintained 1927 Spanish-style construction, indicating pride of ownership and offering desirable architectural character that can attract tenants.
On-Site Laundry Facility: The presence of on-site laundry is a valuable amenity for tenants, adding convenience and potentially generating additional income for the owner.
Cons
Age of Building: Built in 1927, the property's age suggests potential for significant capital expenditures for system upgrades (e.g., plumbing, electrical) and general modernization to achieve the stated rental upside.
Predominance of Studio Units: With 13 out of 16 units being studios, the property's unit mix may limit the tenant demographic and potentially lead to higher turnover compared to properties with a greater proportion of larger units.
Lack of Dedicated Parking: The property description does not mention dedicated parking, which can be a significant drawback and competitive disadvantage for tenants in a dense urban area like Westlake.