1475 Browning Blvd, Los Angeles, California 90062, Los Angeles, 90062 - bed, bath

1475 Browning Blvd, Los Angeles, California 90062 home-pic-0
ACTIVE$918,000
1475 Browning Blvd, Los Angeles, California 90062
0Bed
0Bath
2,737Sqft
5,397Lot
Year Built
1907
Close
-
List price
$918K
Original List price
$968K
Price/Sqft
$335
HOA
-
Days on market
-
Sold On
-
MLS number
OC24232113
Home ConditionFair
Features
View-

About this home

We found 2 Cons,3 Pros. Rank: price - $918.0K(50th), sqft - 2737(61th), beds - undefined(50th), baths - undefined(50th).

This is well-maintained property. entire new roof replacement in year 2022, new pipes installed, upgraded kitchen and bathroom of middle unit. A rare opportunity to own a stable rental property of corner lot. Total three units on a quiet street near USC, LAFC Stadium, the Natural History Museum, and the Science Center. Zoned LARD2, the property includes two buildings with a total of three units, featuring recent upgrades such as a new roof, updated bathrooms, and flooring. Unit 1: 2 bedrooms, 1 bathroom, Unit 2: 2 bedrooms, 1 bathroom, Unit 3: 1 bedroom, 1 bathroom, with a one-car garage and a separate address at 3972 Dalton Ave. With stable tenants and a 6.5% cap rate, this property is an excellent investment. Additionally, the owner is in the process of applying for permits to reconfigure the units into one 2-bedroom unit, one 4-bedroom unit, and one 3-bedroom unit. Once completed, the reconfiguration is projected to increase the cap rate to over 8%, making this property an even more attractive Please DO NOT disturb tenants.

Price History

Date
Event
Price
10/19/21
Sold
$790,000
04/30/99
Sold
$215,000
Condition Rating
Fair

The property was built in 1907, but the listing mentions a new roof in 2022 and upgraded kitchen and bathroom in the middle unit. The images show updated flooring and bathroom fixtures in some units, but the kitchens appear somewhat dated in other units. Given the age and partial updates, a 'Fair' condition score is appropriate.
Pros & Cons

Pros

Investment Opportunity: The property offers a stable rental income with a current cap rate of 6.5%, making it an attractive investment.
Recent Upgrades: The property features a new roof (2022), updated bathrooms, and flooring, reducing immediate maintenance concerns.
Development Potential: Zoned LARD2, with permits pending to reconfigure units, potentially increasing the cap rate to over 8%.

Cons

Tenant Occupied: The property is tenant-occupied, requiring careful coordination for showings and potential limitations on immediate renovations.
Age of Property: Built in 1907, the property may have underlying structural or system issues common in older buildings, despite recent upgrades.

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