2737 Pomeroy Avenue, Los Angeles, California 90033, Los Angeles, 90033 - bed, bath
ACTIVE$1,049,999
2737 Pomeroy Avenue, Los Angeles, California 90033
0Bed
0Bath
3,115Sqft
7,994Lot
Year Built
1925
Close
-
List price
$1.05M
Original List price
$1.3M
Price/Sqft
$337
HOA
-
Days on market
-
Sold On
-
MLS number
DW24157588
Home ConditionPoor
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.05M(75th), sqft - 3115(75th), beds - undefined(50th), baths - undefined(50th).
Condition Rating
Poor
Built in 1925, this property is nearly a century old with no indication of recent renovations. The provided exterior image shows an aged building, and the AI analysis explicitly warns of 'outdated systems (plumbing, electrical, HVAC)' and the need for 'significant capital expenditure for renovations, repairs, and modernization.' The complete absence of interior images, especially of kitchens and bathrooms, strongly suggests these critical areas are in very poor, outdated condition, requiring substantial repairs and rehabilitation to be functional and appealing.
Pros & Cons
Pros
Residential Income Property: As a quadruplex, this property offers significant income potential, making it an attractive investment for those seeking rental revenue in a high-demand market.
Significant Price Reduction: The property has seen a substantial price reduction from its original list price of $1.3 million to $1,049,999, indicating a motivated seller and potential for a favorable acquisition price.
Desirable Los Angeles Location: Situated in Boyle Heights, Los Angeles (90033), the property benefits from a dynamic urban location with ongoing appreciation and strong rental demand.
Generous Lot Size: With a lot size of 7,994 sqft, the property offers ample space, which is a valuable asset in an urban environment, potentially allowing for parking, outdoor amenities, or future development (subject to zoning).
Established Property Type: Built in 1925, the property represents an established asset class in a mature market, often appealing to buyers looking for properties with character and a proven track record.
Cons
Age of Property & Potential for Deferred Maintenance: Constructed in 1925, the property is nearly a century old, suggesting a high likelihood of outdated systems (plumbing, electrical, HVAC) and requiring significant capital expenditure for renovations, repairs, and modernization.
Potential for Rent Control: As a multi-unit property in Los Angeles, it is highly probable that the units are subject to local rent control ordinances, which can limit rental income growth and tenant turnover flexibility for investors.
Implication of Price Adjustment: While a price reduction can be an opportunity, the substantial drop from the original list price may suggest underlying issues with the property, initial overpricing, or a prolonged marketing period that has necessitated a significant adjustment to attract buyers.