231 Blackshear Avenue, Los Angeles, California 90022, Los Angeles, 90022 - bed, bath

231 Blackshear Avenue, Los Angeles, California 90022 home-pic-0
ACTIVE$899,000
231 Blackshear Avenue, Los Angeles, California 90022
0Bed
0Bath
2,271Sqft
5,188Lot
Year Built
1948
Close
-
List price
$899K
Original List price
$699K
Price/Sqft
$396
HOA
-
Days on market
-
Sold On
-
MLS number
PF25174780
Home ConditionPoor
Features
Good View:
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $899.0K(71th), sqft - 2271(59th), beds - undefined(50th), baths - undefined(50th).

Tucked away on a peaceful corner in East Los Angeles, right where the city meets Montebello, sits an opportunity waiting to be seized. This three-unit property doesn't just offer a prime location—it opens the door to something bigger. Step outside, and you'll find yourself minutes from everything that matters. The Metro stop beckons to commuters, while nearby shops and schools make daily life a breeze. Dual street addresses and easy freeway access add layers of convenience that modern city dwellers crave. But here's where it gets interesting: that empty four-car garage isn't just storage space—it's your next investment. The City of Los Angeles has already approved plans for a fourth unit, an ADU spanning 950 square feet. Picture this: two bedrooms, two bathrooms, and a dedicated laundry area, all ready to transform from blueprint to reality. Smart investors take note—this isn't just a building, it's a foundation for growth.

Price History

Date
Event
Price
08/06/25
$899,000+28.6%
08/04/25
$699,000
07/25/22
Sold
$900,000
05/05/99
Sold
$233,000
Condition Rating
Poor

Built in 1948, this property is 76 years old. The interior images, particularly of the kitchen and bathroom, reveal severely outdated fixtures, appliances, and finishes that would require complete renovation. The hardwood floors are visibly worn and need refinishing. While the property appears functional and not structurally unsound, it requires substantial rehabilitation and modernization to meet current living standards, aligning with the 'Poor' condition criteria.
Pros & Cons

Pros

Approved ADU Development Potential: City-approved plans for a 950 sqft, 2-bedroom, 2-bathroom ADU in the existing 4-car garage provide a clear path to significantly increase property value and rental income.
Income-Generating Triplex: As a three-unit residential income property, it offers immediate rental income and a solid foundation for an investment portfolio.
Excellent Commuter & Amenity Access: Strategically located near a Metro stop, shops, schools, and major freeways, ensuring high tenant demand and convenience for residents.
Dual Street Access & Corner Lot: Benefits from dual street addresses and a peaceful corner lot, enhancing accessibility, privacy, and potential for flexible property use.
Strategic Location for Growth: Positioned on the border of East Los Angeles and Montebello, this location offers a blend of urban convenience and potential for future appreciation in a developing area.

Cons

Additional Capital for ADU Construction: While ADU plans are approved, the buyer will incur substantial additional costs and time for the construction of the fourth unit, which is currently an empty garage.
Age of Existing Structures: Built in 1948, the existing triplex units may require significant updates or renovations to plumbing, electrical, and finishes to meet modern tenant expectations and maximize rental value.
Recent Price Increase: The property's list price has seen a significant increase from its original offering, which may warrant careful market analysis to ensure competitive valuation.

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