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2241 Glover Place, Los Angeles, California 90031, Los Angeles, 90031 - bed, bath

2241 Glover Place, Los Angeles, California 90031 home-pic-0
ACTIVE$998,000
2241 Glover Place, Los Angeles, California 90031
0Bed
0Bath
2,330Sqft
4,844Lot
Year Built
1960
Close
-
List price
$998K
Original List price
$1.1M
Price/Sqft
$428
HOA
-
Days on market
-
Sold On
-
MLS number
PW25058069
Home ConditionFair
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $998.0K(46th), sqft - 2330(46th), beds - undefined(50th), baths - undefined(50th).

Discover this unique triplex located in the heart of Elysian Valley, LA, or better know as the highly desirable “Frogtown.” A rare opportunity as this is the first time this property has eve been on the market! With long-term tenants who have maintained the property, this 3-unit complex offers the flexibility for either a take over or the potential for redevelopment. The exterior has been freshly painted, enhancing the curb appeal of this charming building nestled in a quiet, desirable neighborhood. The property boasts a long driveway with ample parking spaces and additional street parking for convenience. Upstairs unit features a spacious layout with lots of natural light, making it ideal for immediate occupancy or further customization. This triplex offers a fantastic opportunity in a thriving community, don’t miss the chance to own a piece of Frogtown’s history!

Condition Rating
Fair
Built in 1960, this triplex shows signs of regular maintenance with a freshly painted exterior and updated laminate flooring in at least one unit. However, the bathroom, with its original pink tiles and fixtures, is significantly outdated and indicates no major renovation in that area. The wall-mounted heating unit also points to an older system. While functional and move-in ready, the property requires substantial cosmetic updates, particularly in the kitchen and bathrooms, to meet modern standards and appeal.
Pros & Cons

Pros

Income-Generating Triplex: This property is a triplex, offering multiple units for immediate rental income and significant investment potential in a desirable Los Angeles market.
Highly Desirable Location: Situated in the heart of 'Frogtown' (Elysian Valley), a thriving and sought-after Los Angeles neighborhood known for its community and growth.
Rare Market Opportunity: This is the first time the property has been on the market, presenting a unique and potentially high-demand asset for investors or owner-users.
Flexible Investment Potential: The property offers flexibility for either taking over with existing long-term tenants or exploring redevelopment opportunities to maximize future value.
Ample Parking & Curb Appeal: Features a long driveway with ample parking spaces and additional street parking, complemented by a freshly painted exterior that enhances curb appeal.

Cons

Age of Property: Built in 1960, the property may have original systems (plumbing, electrical, HVAC) and interior finishes that could require significant capital investment for modernization or upgrades to maximize rental income or appeal.
Long-Term Tenants & Rent Control Implications: While tenants have maintained the property, long-term tenants in Los Angeles can often mean rents are below current market value due to rent control regulations, potentially limiting immediate income upside or complicating owner-occupancy plans.
Unspecified Interior Condition: Beyond the freshly painted exterior and natural light in the upstairs unit, the description lacks detailed information on the interior condition of all units, suggesting potential for necessary renovations to modernize or maximize value.

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