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2618 Carleton Avenue, Los Angeles, California 90065, Los Angeles, 90065 - bed, bath

2618 Carleton Avenue, Los Angeles, California 90065 home-pic-0
ACTIVE$1,499,999
2618 Carleton Avenue, Los Angeles, California 90065
0Bed
0Bath
2,376Sqft
8,002Lot
Year Built
1924
Close
-
List price
$1.5M
Original List price
$1.6M
Price/Sqft
$631
HOA
-
Days on market
-
Sold On
-
MLS number
CV25013549
Home ConditionPoor
Features
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.50M(75th), sqft - 2376(75th), beds - undefined(50th), baths - undefined(50th).

Exceptional Investment Opportunity in Northeast Los Angeles!... Don’t miss this incredible chance to own a 12-unit, low-maintenance property in the heart of Northeast Los Angeles. Each unit is a single with one bathroom, all currently rented and generating steady income, with the added potential for rent increases as leases renew….. This property boasts six separate buildings, ample gated parking spaces for tenant convenience, and one additional uncovered space. An on-site laundry room provides extra income, further enhancing the investment's value….. Located in a sought-after neighborhood, the property combines charm and convenience. With a gross rent multiplier (GRM) of 12.2, this property offers a rare opportunity for reliable cash flow and long-term appreciation. The gated parking and added amenities make it an attractive option for tenants, ensuring high occupancy rates in a competitive rental market.... Situated in a prime area of Northeast Los Angeles, the property provides easy access to shopping, dining, and major freeways, making it highly appealing to renters. Its strategic location and income-generating features make this an ideal addition to any investor’s portfolio…… Contact us today to explore how you can make this exceptional investment property your own.

Nearby schools

2/10
Aragon Avenue Elementary School
Public,•K-5•0.3mi
4/10
Loreto Street Elementary School
Public,•K-5•0.6mi
7/10
Dorris Place Elementary School
Public,•K-6•0.7mi
2/10
Hillside Elementary School
Public,•K-5•0.9mi
4/10
Glassell Park Elementary School
Public,•K-6•1.1mi
3/10
Albion Street Elementary School
Public,•K-6•1.5mi
5/10
Florence Nightingale Middle School
Public,•6-8•0.5mi
6/10
Irving STEAM Magnet
Public,•6-8•2.0mi
5/10
Abraham Lincoln Senior High School
Public,•9-12•1.7mi

Price History

Date
Event
Price
08/23/05
Sold
$655,000
03/14/02
Sold
$300,000
09/16/94
Sold
$144,000
Condition Rating
Poor
Built in 1924, this property shows significant age and lack of modern updates. The images reveal extremely dated kitchens with old cabinets, laminate countertops, and older appliances, along with very basic and outdated bathrooms featuring old fixtures and flooring. The living areas have worn hardwood floors. While the units are currently rented, indicating basic functionality, the overall interior condition suggests a lack of substantial renovation for many decades (likely 30-50+ years ago). The property requires significant rehabilitation and modernization to meet contemporary living standards and attract higher-quality tenants, aligning with the 'Poor' condition criteria.
Pros & Cons

Pros

Exceptional Investment Opportunity: This is a 12-unit income-generating property, offering reliable cash flow and strong potential for long-term appreciation in a competitive market.
Strong Income Potential: All units are currently rented, providing steady income, with the added potential for rent increases upon lease renewals and additional revenue from an on-site laundry facility.
Prime Northeast LA Location: Situated in a sought-after neighborhood in Northeast Los Angeles, the property offers easy access to shopping, dining, and major freeways, ensuring high tenant demand.
Tenant-Friendly Amenities: The property provides ample gated parking spaces and an on-site laundry room, enhancing tenant convenience and contributing to high occupancy rates.
Recent Price Reduction: The property has seen a $100,000 price reduction from its original list price, making it a more attractive and potentially better value for prospective investors.

Cons

Age of Property & Potential Maintenance: Built in 1924, the property is nearly a century old, which may necessitate significant capital expenditures for updating aging infrastructure (e.g., plumbing, electrical, roof) and addressing deferred maintenance.
Small Unit Configuration: All units are described as 'singles with one bathroom,' implying studio apartments. With 2376 sqft for 12 units, this indicates very small unit sizes, which could limit the tenant pool and potential for higher rent growth compared to larger unit types.
Discrepancy in Unit Count/Property Type: The description states '12-unit' while the property's sub_type is listed as 'Quadruplex.' This significant inconsistency requires immediate clarification as it impacts valuation, financing, and overall investment strategy.

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