2528 Lincoln Park Avenue, Los Angeles, California 90031, Los Angeles, 90031 - bed, bath
ACTIVE$929,000
2528 Lincoln Park Avenue, Los Angeles, California 90031
0Bed
0Bath
Sqft
13,544Lot
Year Built
1902
Close
-
List price
$929K
Original List price
$929K
Price/Sqft
$0
HOA
-
Days on market
-
Sold On
-
MLS number
P1-22167
Home ConditionPoor
Features
Good View: Canyon, Hills
Deck
ViewCanyon, Hills
About this home
We found 3 Cons,5 Pros. Rank: price - $929.0K(46th), sqft - 0(8th), beds - undefined(50th), baths - undefined(50th).
'Maximize your investment! This Lincoln Heights property in North East Los Angeles features three homes on a large lot, offering a centrally located, amenity-rich area with ADU potential.' Buyer to verify condition and property is sold AS-IS conditon.
Condition Rating
Poor
Built in 1902, this property is over 120 years old and is explicitly sold 'AS-IS,' indicating significant deferred maintenance and no seller repairs. The listing's own analysis highlights 'Historic Age' with 'outdated infrastructure (plumbing, electrical), lead paint, asbestos, and general wear and tear requiring significant capital expenditure for modernization and safety.' Exterior images confirm a severely neglected state with worn stucco, old windows, rusted railings, dilapidated garage doors, and exposed wiring. While interior photos are absent, it's highly probable that kitchens and bathrooms are extremely outdated and in very poor condition, requiring substantial repairs and rehabilitation to meet modern safety and comfort standards.
Pros & Cons
Pros
Income-Generating Triplex: The property features three homes on a single large lot, categorized as a Residential Income Triplex, offering immediate rental income potential and a diversified investment.
ADU Potential: Explicitly highlighted ADU (Accessory Dwelling Unit) potential, which can significantly increase future rental income and overall property value.
Large Lot Size: With a substantial lot size of 13,544 sq ft, there is ample space for expansion, landscaping, or further development, enhancing its long-term value.
Desirable Location: Located in Lincoln Heights, North East Los Angeles, it's described as a centrally located, amenity-rich area, appealing to renters and offering good appreciation prospects.
Scenic Views: The property boasts desirable Canyon and Hills views, which can enhance its aesthetic appeal and market value.
Cons
As-Is Condition: The property is sold in 'AS-IS' condition, indicating that the seller will not make repairs and buyers should anticipate potential immediate and unforeseen repair or renovation costs.
Historic Age: Built in 1902, the property is over a century old, suggesting potential for outdated infrastructure (plumbing, electrical), lead paint, asbestos, and general wear and tear requiring significant capital expenditure for modernization and safety.
Buyer Due Diligence Burden: The listing explicitly states 'Buyer to verify condition,' placing a significant responsibility on the buyer for thorough inspections and potentially uncovering costly issues, adding risk and complexity to the transaction.