2531 Folsom Street, Los Angeles, California 90033, Los Angeles, 90033 - bed, bath
ACTIVE$2,390,000
2531 Folsom Street, Los Angeles, California 90033
0Bed
0Bath
5,490Sqft
7,000Lot
Year Built
2023
Close
-
List price
$2.39M
Original List price
$1.35M
Price/Sqft
$435
HOA
-
Days on market
-
Sold On
-
MLS number
AR25061195
Home ConditionExcellent
Features
Good View: City Lights
Patio
ViewCity Lights
About this home
We found 3 Cons,5 Pros. Rank: price - $2.39M(88th), sqft - 5490(88th), beds - undefined(50th), baths - undefined(50th).
Great investment opportunity!! Newer 4 units, total of 12 bedrooms and 16 bathrooms in a great location! Low-cost maintenance with upgraded features. Two separate dwelling with two units each. Each unit has its own laundry area and central HVAC, each bedroom has its own full bath and separate meters for every unit. Solar system, Star energy efficiency, tankless water heater, front and back automatic gates, security camera, earthquake auto shut off etc... Perfectly positioned near East LA, USC medical Center, Cal-State LA, Los Angeles Downtown and easy access to major freeways. Don't miss out !!
Price History
Date
Event
Price
11/28/23
Sold
$2,118,000
07/23/21
Sold
$435,000
Condition Rating
Excellent
This property was built in 2023, making it brand new construction. The images and description confirm modern, upgraded features throughout, including contemporary kitchens with stainless steel appliances, stylish bathrooms with tiled showers and floating vanities, new hardwood/laminate flooring, and recessed lighting. All major systems like central HVAC, solar, and tankless water heaters are new and energy-efficient, indicating no deferred maintenance and meeting the highest current quality standards.
Pros & Cons
Pros
New Construction & Low Maintenance: Built in 2023 with upgraded features, this property offers modern amenities and is likely to require minimal immediate maintenance, appealing to both tenants and investors.
Strong Investment Potential: As a newer quadruplex (four units), it provides diversified income streams, making it an excellent opportunity for investors seeking consistent cash flow in a high-demand rental market.
Energy Efficiency & Modern Systems: Equipped with a solar system, Star energy efficiency, tankless water heaters, central HVAC in each unit, and separate meters, significantly reducing operating costs and enhancing tenant comfort.
Strategic Location: Perfectly positioned near major employment and educational hubs like USC Medical Center, Cal-State LA, and Downtown LA, with easy freeway access, ensuring a robust and diverse tenant pool.
Individualized Unit Features: Each unit boasts its own laundry area, central HVAC, and separate utility meters, with every bedroom featuring its own full bath, maximizing tenant privacy and convenience.
Cons
Aggressive Pricing: The current list price of $2.39M represents a significant increase from the last recorded sale price of $2.118M in late 2023, which could limit immediate capital appreciation for a new buyer.
High Density / Limited Outdoor Space: With 5490 sqft of living space on a 7000 sqft lot for four units, the property is highly dense, potentially resulting in limited private outdoor space or common areas for tenants.
Potential for Higher Management Demands: The multi-unit, individual-bedroom-bath setup, particularly near universities, may lead to higher tenant turnover and increased management responsibilities compared to less dense properties.