2007 Pennsylvania Avenue, Los Angeles, California 90033, Los Angeles, 90033 - bed, bath
ACTIVE$1,025,000
2007 Pennsylvania Avenue, Los Angeles, California 90033
0Bed
0Bath
3,184Sqft
8,889Lot
Year Built
1922
Close
-
List price
$1.02M
Original List price
$1.4M
Price/Sqft
$322
HOA
-
Days on market
-
Sold On
-
MLS number
DW24046404
Home ConditionPoor
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.02M(50th), sqft - 3184(50th), beds - undefined(50th), baths - undefined(50th).
An opportunity of a lifetime to own an Income property in this 241-year-old historical Los Angeles community. This 6- unit 6 bedrooms 1 bath each. With with washer and dryer hook ups. Easy accesses to major freeway's such as the 5 and 10 and 101.Boyle Heights mix of history and trendy coffee shops, Restaurants, art and music creates a high demand for renter's desire to live with the community being 75% of residence are renters Property has a brand-new roof. The signs of gentrification are clear as new development and companies moving into the area.
Condition Rating
Poor
Built in 1922, this property features extremely outdated kitchens and bathrooms with old cabinets, worn laminate/linoleum flooring, basic fixtures, and aged tiling. The interiors show significant wear and tear, including old carpets and dated paint. While a new roof is a positive capital improvement, the overall condition of the living spaces requires substantial rehabilitation and modernization to meet current standards and tenant expectations. The property's infrastructure (plumbing, electrical) is likely original or very old, necessitating major updates beyond cosmetic repairs.
Pros & Cons
Pros
Income-Generating Asset: This is a 6-unit income property, with each unit featuring 1 bedroom and 1 bath, offering substantial rental income potential for investors.
Prime Rental Market: Located in Boyle Heights, a community with high renter demand (75% residents are renters) and a vibrant mix of history, trendy coffee shops, restaurants, art, and music.
Strategic Accessibility: The property boasts easy access to major freeways (I-5, I-10, I-101), enhancing tenant convenience and overall property desirability.
Recent Capital Improvement: A brand-new roof has been installed, mitigating a significant future capital expense for the new owner.
Gentrification & Appreciation Potential: The area shows clear signs of gentrification with new development and companies moving in, suggesting strong future appreciation and rental growth.
Cons
Advanced Age of Property: Built in 1922, the property's age suggests a high likelihood of outdated infrastructure (e.g., plumbing, electrical) and potential for significant deferred maintenance beyond the new roof.
Substantial Price Reduction: A significant drop from the original list price of $1.395M to $1.025M may indicate overpricing, extended market time, or underlying issues that warrant thorough due diligence.
Limited Bathroom Configuration: Each of the six units has only one bathroom, which could be a limiting factor for some prospective tenants or impact rental rates compared to properties with more facilities.