RealKey
‪(213) 433-7766‬

2005 Magnolia Avenue, Los Angeles, California 90007, Los Angeles, 90007 - bed, bath

2005 Magnolia Avenue, Los Angeles, California 90007 home-pic-0
ACTIVE$1,690,000
2005 Magnolia Avenue, Los Angeles, California 90007
0Bed
0Bath
4,620Sqft
5,965Lot
Year Built
1903
Close
-
List price
$1.69M
Original List price
$1.8M
Price/Sqft
$366
HOA
-
Days on market
-
Sold On
-
MLS number
IN24081431
Home ConditionFair
Features
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.69M(80th), sqft - 4620(40th), beds - undefined(50th), baths - undefined(50th).

Situated at 2005 Magnolia Avenue, Los Angeles, CA 90007, this charming property presents a unique investment opportunity. Comprising two units across 4,620 square feet, this two-level residence boasts a rich history dating back to its construction in 1903. Recently listed with an enticing price per square foot of $389.61, this property offers excellent value. Nestled on a 5,965 square foot lot in the Standard SLC area, it promises both space and potential. With a total operating expense of $13,260 and a net operating income of $154,740, this property showcases strong financial viability. Whether you're considering it for investment purposes or envisioning it as a distinctive home, 2005 Magnolia Avenue encapsulates the allure of historic charm and modern opportunity in the heart of Los Angeles.

Price History

Date
Event
Price
03/03/23
Sold
$341,500
02/11/22
Sold
$1,085,000
02/06/07
Sold
$870,000
10/10/02
Sold
$297,000
Condition Rating
Fair
Built in 1903, this property retains much of its historic charm with original-style hardwood floors and architectural details. However, the kitchen and visible bathroom are significantly outdated, likely from renovations 15-30 years ago, featuring older cabinets, laminate countertops, dated appliances, and older tile work. While the home appears maintained, it requires substantial updates to meet modern living standards, particularly in the kitchen and bathrooms, and likely for major systems (plumbing, electrical, HVAC) as noted in the property analysis. It is functional but shows clear signs of age and dated updates.
Pros & Cons

Pros

Strong Investment Potential: The property is explicitly marketed as a 'unique investment opportunity' with 'strong financial viability,' evidenced by a net operating income of $154,740 against operating expenses of $13,260.
Historic Charm and Character: Built in 1903, the residence boasts a 'rich history' and 'historic charm,' appealing to buyers seeking properties with unique architectural character in Los Angeles.
Multi-Unit Income Property: Comprising two units across 4,620 square feet, this duplex offers immediate income potential or flexibility for owner-occupancy with supplemental rental income.
Competitive Price per Square Foot: With an enticing price per square foot of $389.61, the property offers 'excellent value' for a multi-unit residence in a central Los Angeles location.
Prime Los Angeles Location: Nestled 'in the heart of Los Angeles' in the Standard SLC area (MLS Area C42 - Downtown L.A.), providing convenient access to urban amenities, employment centers, and cultural attractions.

Cons

Age-Related Maintenance and Upgrades: As a property built in 1903, it is highly probable that significant investment will be required for updating outdated systems (e.g., plumbing, electrical, HVAC) and addressing deferred maintenance common in historic homes.
Unspecified Condition of Units: While historic charm is highlighted, the description lacks details on the current condition or recent renovations of the two units, suggesting potential for substantial renovation costs to meet modern living standards or tenant expectations.
Discrepancy in Sales History: The sales history shows a sale for $341,500 in 2023, which is significantly lower than the current list price and previous sales, warranting thorough investigation into the nature of that specific transaction.

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI

Browse Properties by State Browse housing market trends by state