2147 E 119th Street, Los Angeles, California 90059, Los Angeles, 90059 - bed, bath
ACTIVE UNDER CONTRACT$949,000
2147 E 119th Street, Los Angeles, California 90059
0Bed
0Bath
3,126Sqft
20,036Lot
Year Built
1928
Close
-
List price
$949K
Original List price
$949K
Price/Sqft
$304
HOA
-
Days on market
-
Sold On
-
MLS number
PW25011636
Home ConditionPoor
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $949.0K(67th), sqft - 3126(58th), beds - undefined(50th), baths - undefined(50th).
Huge lot size over 20,000 sqft with 4 detached units, plus a separate 3 car garage and storage. Unit #2147 has Two bedrooms, one full bath with laundry in an attached garage. Unit 2149 has Two (possibly three) bedrooms, one full bath and inside laundry. Unit 2153 has Two bedrooms, one full bath. Unit 2151 has 1 bedroom, 3/4 bath. Great location near public transportation and freeways. Selling AS-IS with tenants.
Condition Rating
Poor
Built in 1928, this property is nearly a century old and is being sold 'AS-IS' with existing tenants. The property analysis explicitly notes 'Advanced Age & Potential for Deferred Maintenance' and 'Significant Renovation Required.' Exterior images show a dated appearance with visible wear and tear, security bars on windows, and general disrepair, indicating a lack of recent updates. Without interior photos, it's highly probable that kitchens, bathrooms, and all major systems (electrical, plumbing, HVAC) are severely outdated, beyond their useful life, and require substantial repairs and rehabilitation to meet modern standards and ensure safety and comfort.
Pros & Cons
Pros
High Income Potential: As a quadruplex with four detached units, the property offers substantial and diversified rental income streams, making it highly attractive to investors.
Generous Lot Size: The expansive lot size of over 20,000 sqft provides significant potential for future expansion, additional development (e.g., ADUs), or enhanced outdoor amenities.
Detached Unit Configuration: The four detached units offer superior privacy and appeal compared to attached multi-family properties, potentially attracting higher-quality tenants and commanding better rents.
Strategic Location: Its proximity to public transportation and major freeways ensures excellent accessibility, a crucial factor for tenant desirability and long-term property value appreciation.
Valuable Ancillary Structures: The presence of a separate 3-car garage and additional storage space provides valuable amenities for tenants or potential for further income generation.
Cons
Advanced Age & Potential for Deferred Maintenance: Built in 1928, the property is nearly a century old, suggesting a high likelihood of requiring significant capital investment for system upgrades, modernization, and addressing potential deferred maintenance.
As-Is Sale with Existing Tenants: The 'AS-IS' sale condition places the burden of all necessary repairs and upgrades squarely on the buyer. Additionally, managing existing tenants can present complexities, including potential rent control issues or challenges with lease agreements.
Significant Renovation Required: Given the property's age and 'AS-IS' status, extensive renovation and modernization efforts are highly probable to maximize rental income and property value, leading to substantial upfront costs and potential vacancy periods.