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2719 Folsom Street, Los Angeles, California 90033, Los Angeles, 90033 - bed, bath

2719 Folsom Street, Los Angeles, California 90033 home-pic-0
ACTIVE$1,218,800
2719 Folsom Street, Los Angeles, California 90033
0Bed
0Bath
3,048Sqft
5,851Lot
Year Built
1924
Close
-
List price
$1.22M
Original List price
$12.49M
Price/Sqft
$400
HOA
-
Days on market
-
Sold On
-
MLS number
WS25199372
Home ConditionGood
Features
Good View:
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.22M(75th), sqft - 3048(69th), beds - undefined(50th), baths - undefined(50th).

2719-2721 Folsom Street, Los Angeles (Tenant Occupied 4plex) Low interest existing loan is assumable to VA Buyers (2.7% rate) This premium multi-unit investment in the revitalizing East LA neighborhood offers immediate passive income with significant upside potential. Spanning approximately 3,048 sq ft, this well-maintained, four-unit property, built in 1924, is primed for strong returns. Stable Cash Flow: Currently delivering a 0.9% CoC, with a clear path to 5% through market-driven rental adjustments. Recent Upgrades: New roof (2024), remodeled bathroom in unit 2721.5 (2025), full remodel of unit 2719.5 (2021), and newer exterior paint reduces near-term capex risk. Flexible Leases: Month-to-month agreements allow quick alignment with market rents, maximizing income potential. Prime Location: Situated in a dynamic, up-and-coming neighborhood, this asset is well-positioned for long-term appreciation. Seize this opportunity to invest in a turnkey property with both stability and growth potential! PLEASE DO NOT DISTURB OCCUPANTS! Broker does not guarantee the accuracy of the information provided, including lot size, lot acreage, lot dimensions, square footage measurements, and/or permissibility to build. Buyer is advised to independently verify the accuracy of this information through personal inspection, building permits, and/or with appropriate professionals (i.e., attorney, appraiser, architect, contractor, surveyor, etc.)

Price History

Date
Event
Price
10/02/25
Price Change
$1,218,800-2.4%
09/05/25
Price Change
$1,248,800
09/04/25
Listing
$12,488,000
09/02/21
Sold
$950,000
08/16/18
Sold
$610,000
Condition Rating
Good
The property, built in 1924, has undergone significant recent updates that elevate its condition. A new roof was installed in 2024, and one unit (2719.5) received a full remodel in 2021, featuring modern kitchen cabinets, countertops, and updated flooring. The exterior also boasts newer paint. While other units may show older styles, such as the dated kitchen with white appliances and laminate countertops (Image 9) and a basic, clean bathroom (Image 10), the major system updates (roof) and the extensive renovation of at least one unit bring the overall condition to 'Good'. The property is move-in ready for the updated units, and the recent capital expenditures reduce immediate renovation needs, aligning with the 'Good' criteria of being extensively renovated within 5-15 years (for key components/units) and having well-maintained major systems.
Pros & Cons

Pros

Assumable Low-Interest VA Loan: Offers a significant financial advantage for eligible VA buyers with an exceptionally low 2.7% interest rate, reducing financing costs.
Income-Generating Quadruplex: A four-unit residential income property providing immediate passive income and diversified rental streams, enhancing investment stability.
Recent Capital Upgrades: Key improvements like a new roof (2024) and recent unit remodels (2021, 2025) minimize near-term capital expenditure for the buyer.
Significant Rental Upside Potential: Flexible month-to-month leases in a revitalizing neighborhood allow for market-driven rental adjustments to substantially increase the current cash-on-cash return.
Strategic Location for Appreciation: Situated in a dynamic, up-and-coming East LA neighborhood, positioning the asset well for long-term property value growth.

Cons

Sub-Optimal Current Cash Flow: The property currently yields a low 0.9% cash-on-cash return, requiring active management and rental adjustments to achieve projected higher returns.
Restricted Property Access: The 'Do Not Disturb Occupants' policy limits comprehensive pre-purchase inspections of all units, potentially obscuring underlying conditions or deferred maintenance.
Historic Property Age: Built in 1924, the property's age, despite recent upgrades, may still present potential for unforeseen maintenance or system issues typical of older construction.

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