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2116 S Palm Grove Ave, Los Angeles, California 90016, Los Angeles, 90016 - 7 bed, 5 bath

2116 S Palm Grove Ave, Los Angeles, California 90016 home-pic-0
ACTIVE$1,395,000
2116 S Palm Grove Ave, Los Angeles, California 90016
7Beds
5Baths
5,075Sqft
5,645Lot
Year Built
1924
Close
-
List price
$1.4M
Original List price
$1.4M
Price/Sqft
$275
HOA
-
Days on market
-
Sold On
-
MLS number
DW25249257
Home ConditionFair
Features
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.40M(57th), sqft - 5075(71th), beds - 7(86th), baths - 5(86th).

Exceptional investment opportunity in the heart of Los Angeles! Welcome to 2116 S Palm Grove Ave, a well-maintained 5-unit multifamily property offering a perfect blend of classic charm and modern updates. Each unit is thoughtfully designed for comfortable living, featuring spacious interiors filled with natural light. The property includes on-site parking and a private outdoor area for tenant enjoyment. Conveniently located near shopping, dining, schools, and major freeways, this prime location offers excellent rental demand and long-term growth potential. Whether you’re an investor expanding your portfolio or looking for an income-producing property, 2116 S Palm Grove Ave is a must-see!

Price History

Date
Event
Price
10/28/25
Listing
$1,395,000
08/31/23
Sold
$1,200,000
08/31/20
Sold
$1,530,000
Condition Rating
Fair
Built in 1924, this multifamily property shows a mix of conditions. While described as 'well-maintained' with 'modern updates,' the images reveal inconsistent renovation levels across units. Some areas feature newer LVP flooring and modern light fixtures, while others display older laminate, popcorn ceilings, and older style ceiling fans. The presence of wall-mounted heaters instead of central HVAC indicates outdated heating systems. Without clear images of kitchens and bathrooms, a full assessment is challenging, but the visible elements suggest functional yet not recently updated spaces. The property is aged but appears maintained, with major components showing signs of being outdated, requiring minor updates or more significant renovations to meet current standards.
Pros & Cons

Pros

Income-Generating Asset: This is a 5-unit multifamily property, providing immediate rental income and an excellent opportunity for portfolio diversification and consistent cash flow.
Prime Los Angeles Location: Conveniently situated in Los Angeles, near shopping, dining, schools, and major freeways, ensuring high rental demand and strong long-term growth potential.
Well-Maintained with Charm: The property is described as well-maintained, blending classic charm with modern updates, which can attract and retain quality tenants.
Tenant-Friendly Amenities: Includes valuable on-site parking and a private outdoor area, enhancing tenant satisfaction and making the units more appealing in a competitive market.
Spacious & Bright Units: Each unit is thoughtfully designed with spacious interiors and abundant natural light, contributing to comfortable living and tenant retention.

Cons

Age of Property: Built in 1924, the property is nearly a century old, which may necessitate significant capital expenditures for aging infrastructure (e.g., plumbing, electrical, roof) in the near future.
Unspecified Modern Updates: While 'modern updates' are mentioned, the description lacks specific details on the extent and quality of these renovations, potentially hiding deferred maintenance or requiring further investment.
Price Volatility in Sales History: The property's sales history shows significant price fluctuations (sold for $1.53M in 2020, then $1.2M in 2023, now listed at $1.395M), which warrants thorough due diligence to understand underlying market conditions or potential property issues.

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