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1566 Rollins Drive, Los Angeles, California 90063, Los Angeles, 90063 - 6 bed, 2 bath

1566 Rollins Drive, Los Angeles, California 90063 home-pic-0
ACTIVE$849,000
1566 Rollins Drive, Los Angeles, California 90063
6Beds
2Baths
1,820Sqft
5,661Lot
Year Built
1947
Close
-
List price
$849K
Original List price
$895K
Price/Sqft
$466
HOA
-
Days on market
-
Sold On
-
MLS number
RS24223663
Home ConditionExcellent
Features
Good View: City Lights
ViewCity Lights

About this home

We found 3 Cons,5 Pros. Rank: price - $849.0K(76th), sqft - 1820(44th), beds - 6(92th), baths - 2(76th).

This property features 7bedrooms 3bath. It's a large home that was converted into three units. There are two 3bed 1bath units and one 1bed 1bath unit. Situated in El Sereno/City Terrance East Los Angeles area. All three units where remodeled roughly 5 years ago and all units are still in good condition. This property is being used as a non conforming triplex. Kitchens have newer cabinets and all have granite counter tops, bath, floors, dual pane windows throughout and newer roof. The property has a coin up laundry that brings additional income. Near tons of LA City entertainment, near Cal State LA, near DTLA, near Dodgers stadium, Griffith Park, LA Zoo and many more tourist nearby attractions.

Price History

Date
Event
Price
12/05/17
Sold
$380,000
Condition Rating
Excellent
The property, though built in 1947, underwent an extensive renovation approximately 5 years ago, bringing all three units to a virtually new condition. The kitchens feature newer white shaker cabinets, granite countertops, and stainless steel appliances. Bathrooms are updated with modern vanities and tiled showers. Throughout the units, there is new flooring (hardwood/laminate and tile), modern light fixtures, and dual-pane windows. A newer roof was also installed. These comprehensive updates within the last 5 years, as confirmed by the description and images, align perfectly with the 'Excellent' criteria for a property extensively renovated recently with components that are new or virtually new.
Pros & Cons

Pros

Multi-Unit Income Potential: Configured as a triplex with two 3-bedroom/1-bath units and one 1-bedroom/1-bath unit, offering significant rental income opportunities for investors.
Recent Extensive Remodel: All three units were remodeled approximately 5 years ago, featuring newer cabinets, granite countertops, updated baths, new flooring, dual-pane windows, and a newer roof, ensuring good condition.
Additional Revenue Stream: The property includes coin-operated laundry facilities, providing an extra source of income for the owner.
Prime Los Angeles Location: Situated in the desirable El Sereno/City Terrace East LA area, with excellent proximity to Cal State LA, DTLA, Dodger Stadium, Griffith Park, and other major attractions, enhancing tenant appeal.
Aesthetic City Lights View: The property offers desirable city lights views, adding to its aesthetic appeal and potential market value.

Cons

Non-Conforming Use: The property is explicitly stated as a 'non conforming triplex,' which may present legal and zoning challenges requiring thorough due diligence from a prospective buyer.
Age of Original Structure: Built in 1947, the underlying structure is older, which could potentially lead to unforeseen maintenance or upgrade costs beyond the recent cosmetic remodels.
Recent Price Reduction: The list price has been reduced from $895,000 to $849,000, which might indicate initial overpricing or a slower market response, potentially affecting perceived value.

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