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231 W 88th Street, Los Angeles, California 90003, Los Angeles, 90003 - bed, bath

231 W 88th Street, Los Angeles, California 90003 home-pic-0
ACTIVE$550,000
231 W 88th Street, Los Angeles, California 90003
0Bed
0Bath
1,907Sqft
5,351Lot
Year Built
1912
Close
-
List price
$550K
Original List price
$599K
Price/Sqft
$288
HOA
-
Days on market
-
Sold On
-
MLS number
SB25105263
Home ConditionPoor
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $550.0K(21th), sqft - 1907(50th), beds - undefined(50th), baths - undefined(50th).

Investor Opportunity – 3 Units in Prime Los Angeles Location Rare chance to own a fully tenant-occupied triplex in the heart of Los Angeles, perfect for the seasoned or beginner investor seeking steady rental income from day one. This unique property features a charming front 2-bedroom house and two additional 1-bedroom units, each located on the second level of their respective structures, offering privacy and elevated living. Situated within walking distance to public transportation, shopping, and local amenities, this location offers strong tenant demand and long-term rental appeal. The property will be delivered as-is and with tenants in place, presenting a turnkey investment opportunity with no vacancy downtime. Don't miss this solid income-generating property in one of L.A.’s high-demand rental markets.

Condition Rating
Poor
Built in 1912, this property is over 100 years old. The images show outdated interiors, including what appears to be old carpet, and dated kitchen and bathroom features. The overall condition suggests that substantial repairs and rehabilitation are needed. The property is being sold as-is with tenants, indicating that the current owner is not planning to make any improvements.
Pros & Cons

Pros

Income Potential: The property is a fully tenant-occupied triplex, providing immediate and steady rental income.
Prime Location: Located in a desirable Los Angeles location with close proximity to public transportation, shopping, and local amenities.
Turnkey Investment: Offered as a turnkey investment, eliminating vacancy downtime and providing immediate cash flow.
High Rental Demand: Situated in a high-demand rental market, ensuring long-term tenant appeal and minimizing vacancy risks.
Unit Mix: Features a mix of unit types (2-bedroom house and two 1-bedroom units) catering to a broader tenant base.

Cons

As-Is Condition: The property is sold in as-is condition, potentially requiring additional investment for repairs or upgrades.
Age of Property: Built in 1912, the property may require ongoing maintenance and potential renovations due to its age.
Original List Price Reduction: The property has experienced a price reduction from its original list price, which may indicate underlying issues or market challenges.

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