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1737 S Longwood Avenue, Los Angeles, California 90019, Los Angeles, 90019 - bed, bath

1737 S Longwood Avenue, Los Angeles, California 90019 home-pic-0
ACTIVE$2,750,000
1737 S Longwood Avenue, Los Angeles, California 90019
0Bed
0Bath
6,016Sqft
7,085Lot
Year Built
2021
Close
-
List price
$2.75M
Original List price
$2.75M
Price/Sqft
$457
HOA
-
Days on market
-
Sold On
-
MLS number
SR25144723
Home ConditionExcellent
Features
Good View: City Lights
ViewCity Lights

About this home

We found 3 Cons,5 Pros. Rank: price - $2.75M(50th), sqft - 6016(50th), beds - undefined(50th), baths - undefined(50th).

Four units S Longwood Ave is an exceptional fully leased fourplex located in the heart of Mid City-and is perfect for a 1031 exchange buyer. This excellent Mid-City location is centrally positioned to Downtown, Beverly Hills, and Culver City. The property consists of 2-Four Bedrooms and 2-three bedrooms which would make for quick easy rentals and has great curb appeal. The units feature open floor plans, modern kitchens with kitchen appliances, private washer and dryer in each unit , private yards for two of the units, and 8 parking spaces and many more amenities. The utilities are separately metered for gas, electrical and water resulting in lower expenses for the potential buyer. Due to SB-8, a smaller amount of this type are being constructed making this property a a very attractive acquisition.

Price History

Date
Event
Price
03/28/19
Sold
$850,000
Condition Rating
Excellent
This property was built in 2021, making it a newly constructed building. The images confirm a modern aesthetic throughout, featuring new stainless steel appliances, white shaker cabinets, quartz countertops, and subway tile backsplashes in the kitchens. Bathrooms are equally modern with new vanities, fixtures, and tiled showers. The flooring is consistent wood-look laminate/engineered wood, and lighting is primarily recessed. All components appear new and meet current quality standards, indicating no deferred maintenance.
Pros & Cons

Pros

New Construction & Modern Amenities: Built in 2021, the property offers contemporary living with open floor plans, modern kitchens with appliances, private in-unit washer/dryers, and private yards for two units, appealing to a broad tenant base.
Fully Leased & Income Generating: The fourplex is fully leased, providing immediate and stable rental income, making it an excellent opportunity for investors, particularly those seeking a 1031 exchange.
Strategic Mid-City Location: Centrally located in Mid-City, it offers convenient access to Downtown, Beverly Hills, and Culver City, ensuring high rental demand and potential for appreciation.
Separately Metered Utilities: Utilities (gas, electrical, water) are separately metered for each unit, significantly reducing the owner's operating expenses and increasing net income.
Market Scarcity & Value: Due to SB-8, new fourplex constructions are becoming rarer, making this property a highly attractive and valuable acquisition in the current market.

Cons

High Investment Cost: The list price of $2.75 million represents a significant capital investment, which may narrow the pool of potential buyers.
Potential for Rent Control: As a multi-unit property in Los Angeles, it may be subject to local rent control ordinances, which could limit future rent increases and impact long-term investment returns.
Limited Common Outdoor Space: While two units benefit from private yards, the description does not specify common outdoor areas for all tenants, which could be a desired amenity for some renters.

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