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2531 Folsom Street, Los Angeles, California 90033, Los Angeles, 90033 - bed, bath

2531 Folsom Street, Los Angeles, California 90033 home-pic-0
ACTIVE$2,349,000
2531 Folsom Street, Los Angeles, California 90033
0Bed
0Bath
5,490Sqft
7,000Lot
Year Built
2023
Close
-
List price
$2.35M
Original List price
$2.35M
Price/Sqft
$428
HOA
-
Days on market
-
Sold On
-
MLS number
AR25154099
Home ConditionExcellent
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $2.35M(88th), sqft - 5490(88th), beds - undefined(50th), baths - undefined(50th).

Great investment opportunity!! Built in 2023 newer 4 units, total of 12 bedrooms and 16 bathrooms in a great location! Very low-cost maintenance for the Landlord, 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 all utilities, 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 listing details highlight upgraded features such as a solar system, energy efficiency, tankless water heaters, central HVAC per unit, and security cameras. The images confirm a modern aesthetic throughout, featuring new gray-toned laminate flooring, recessed lighting, two-tone kitchen cabinets with white countertops and stainless steel appliances, and contemporary bathroom vanities and fixtures. All components are new, meet current quality standards, and show no signs of wear or deferred maintenance.
Pros & Cons

Pros

Brand New Construction & Modern Amenities: Built in 2023, this property boasts solar power, energy efficiency, tankless water heaters, central HVAC per unit, and advanced security features, ensuring minimal immediate maintenance and high tenant appeal.
Exceptional Income-Generating Configuration: A quadruplex with 12 bedrooms and 16 bathrooms, where each bedroom includes its own full bath, maximizing rental income potential, particularly suitable for multi-tenant or student housing.
Optimized for Low Landlord Maintenance: Designed for efficiency with separate utility meters for each unit and individual laundry facilities, significantly reducing ongoing landlord operational costs and responsibilities.
Prime Strategic Location: Positioned near major demand drivers such as USC Medical Center, Cal-State LA, and Downtown Los Angeles, with excellent freeway access, ensuring consistent tenant demand.
Individual Unit Autonomy & Efficiency: Each unit benefits from its own central HVAC, laundry area, and separately metered utilities, enhancing tenant comfort, accountability, and overall property efficiency.

Cons

Significant Capital Investment: The property's list price of $2.349 million represents a substantial initial investment, potentially narrowing the buyer pool to high-net-worth investors.
Intensive Tenant Management Potential: With 12 individual bedrooms across 4 units, the property may entail higher tenant turnover and more complex management demands compared to smaller multi-family properties.
Undisclosed Parking & Outdoor Amenities: The description lacks details regarding dedicated parking provisions for multiple tenants and any shared outdoor recreational spaces, which could be a critical consideration for renters in a dense urban environment.

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