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2312 W Slauson Avenue, Los Angeles, California 90043, Los Angeles, 90043 - bed, bath

2312 W Slauson Avenue, Los Angeles, California 90043 home-pic-0
ACTIVE$899,000
2312 W Slauson Avenue, Los Angeles, California 90043
0Bed
0Bath
2,312Sqft
2,499Lot
Year Built
1955
Close
-
List price
$899K
Original List price
$899K
Price/Sqft
$389
HOA
-
Days on market
-
Sold On
-
MLS number
SB24240319
Home ConditionFair
Features
View-

About this home

We found 3 Cons,6 Pros. Rank: price - $899.0K(75th), sqft - 2312(88th), beds - undefined(50th), baths - undefined(50th).

Priced to sell, this charming 4-unit complex in Park Mesa Heights! This investment offers an excellent opportunity with a strong 9.5 GRM and a 9% CAP Rate based on current market rental values/actuals. The property includes three one-bedroom units with separate kitchens and one bachelor unit, providing reliable cash flow. Various recent upgrades to these units including exterior and interior enhance the property's appeal, while three out of the four units come with designated parking spaces. Very rare to have all units delivered vacant allowing for maximum rental value. This property offers low operating costs, easy self-management, and significant upside potential. The area is undergoing continuous redevelopment, and with a total annual income close to 100K based on current Performa rents, this property presents a solid investment with great future growth.

Nearby schools

2/10
Fifty-Ninth Street Elementary School
Public,•K-5•0.2mi
3/10
Angeles Mesa Elementary School
Public,•K-5•0.5mi
2/10
Yes Academy
Public,•K-5•0.7mi
3/10
Seventy-Fourth Street Elementary School
Public,•K-5•1.1mi
2/10
Forty-Second Street Elementary School
Public,•K-5•1.2mi
2/10
Fifty-Fourth Street Elementary School
Public,•K-5•1.4mi
1/10
Lane (Warren) Elementary School
Public,•K-6•1.5mi
4/10
Centinela Elementary School
Public,•K-6•1.7mi
3/10
Windsor Hills Math Science
Public,•K-5•2.1mi
1/10
Horace Mann Junior High School
Public,•6-8•1.0mi
2/10
Barack Obama Global Preparation Academy
Public,•6-8•1.1mi
2/10
Audubon Middle School
Public,•6-8•1.5mi
3/10
Parent (Frank D.) Elementary School
Public,•K-8•3.2mi
2/10
Crozier (George W.) Middle School
Public,•7-8•3.3mi
/10
Monroe (Albert F.) Middle School
Public,•6-8•3.5mi
1/10
Crenshaw Science, Technology, Engineering, Math And Medicine Magnet
Public,•9-12•0.8mi
2/10
Inglewood High School
Public,•9-12•2.8mi
2/10
George Washington Preparatory High School
Public,•9-12•3.6mi
9/10
Middle College High School
Public,•9-12•5.9mi

Price History

Date
Event
Price
10/06/21
Sold
$500,000
Condition Rating
Fair
Built in 1955, this property shows signs of recent cosmetic updates like fresh paint and basic laminate/tile flooring. However, the exterior is dated and lacks curb appeal. The kitchens are very basic, featuring older-style tile, simple white cabinets, and a modern faucet, but critically, no appliances are visible, which means immediate investment is needed for functionality. Bathrooms appear basic and older. While livable, the property requires minor updates and significant investment in appliances and further cosmetic improvements to meet modern standards, aligning with a 'Fair' condition.
Pros & Cons

Pros

Great Schools: High School: Middle College High School (9/10).
Strong Financials: The property boasts a strong 9.5 GRM and a 9% CAP Rate based on current market rental values, indicating excellent investment potential and reliable cash flow.
Vacant Units: All four units are delivered vacant, a rare advantage allowing the new owner to immediately set market rents and select tenants for maximum rental value.
Recent Upgrades: Various recent exterior and interior upgrades enhance the property's appeal, potentially reducing immediate capital expenditures for the new owner.
Redevelopment Area & Upside Potential: Located in an area undergoing continuous redevelopment, the property offers significant future growth and appreciation potential.
Low Operating Costs & Management: The property is described as having low operating costs and being easy to self-manage, appealing to investors seeking efficient and less hands-on ownership.

Cons

Low-Rated Schools: Several nearby schools have low ratings (1-3 out of 10), which could be a deterrent for families with school-aged children seeking quality education.
Small Lot Size: With a lot size of only 2499 sqft for a quadruplex, outdoor space and potential for future expansion or additional amenities are significantly limited.
Significant Price Appreciation: The property's list price of $899,000 represents a substantial increase from its last sale price of $500,000 in October 2021, which may raise questions about current valuation and immediate upside potential for a new investor.

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