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2809 Folsom Street, Los Angeles, California 90033, Los Angeles, 90033 - bed, bath

2809 Folsom Street, Los Angeles, California 90033 home-pic-0
ACTIVE$760,000
2809 Folsom Street, Los Angeles, California 90033
0Bed
0Bath
2,519Sqft
5,847Lot
Year Built
1922
Close
-
List price
$760K
Original List price
$835K
Price/Sqft
$302
HOA
-
Days on market
-
Sold On
-
MLS number
SB25010024
Home ConditionPoor
Features
Good View:
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $760.0K(56th), sqft - 2519(63th), beds - undefined(50th), baths - undefined(50th).

PRICE REDUCED – PRIME INVESTMENT IN BOYLE HEIGHTS Here’s a great chance to own a triplex in the heart of Boyle Heights, now offered at a lower price. This property sits on an RD1.5 lot and offers both immediate income and long-term potential. The front duplex has two units with 2 bedrooms and 1 bath each, while the back house features 3 bedrooms, 1 bath, a private yard, and a garage with ADU possibilities. All units are occupied with long term tenants with rents still well below market—leaving plenty of room for upside. A long driveway allows for multiple cars, and the location offers quick access to Downtown LA, freeways, transit, and neighborhood amenities. With its price reduction, strong cash flow, and value-add potential, this property is one of the best multifamily buys in the area. Buyer to assist with 1031 Exchange. Drive by only, Inspection subject to offer. Please do not disturb tenants. Property to be delivered with all tenants occupied. Final price reduction before taken off the market. Please do not disturb tenants. Property to be delivered with all tenants occupied.

Price History

Date
Event
Price
10/05/25
Price Change
$760,000
01/20/25
Listing
$835,000
02/22/16
Sold
$475,000
09/30/02
Sold
$224,000
Condition Rating
Poor
Built in 1922, this property is over 100 years old. The listing explicitly states 'Drive by only, Inspection subject to offer' and 'Please do not disturb tenants,' which strongly indicates that the interiors, including kitchens and bathrooms, are not in a show-ready or updated condition. The 'value-add potential' further suggests that substantial repairs and rehabilitation are required to modernize the units and bring them to current standards. While the exterior appears maintained, the lack of interior photos and the age of the property point to significant deferred maintenance and outdated features within, particularly in key areas like kitchens and bathrooms, necessitating major renovations.
Pros & Cons

Pros

Immediate Income & Multi-Unit: The property is a triplex with all units currently occupied by long-term tenants, providing immediate and consistent rental income.
Substantial Value-Add Potential: Rents are significantly below market, offering considerable upside for increased cash flow, further enhanced by the garage's ADU conversion potential.
Strategic Urban Location: Located in the heart of Boyle Heights, offering excellent accessibility to Downtown LA, major freeways, public transit, and local amenities.
Motivated Seller & Price Adjustment: A recent price reduction from the original list price indicates a motivated seller, presenting a potentially attractive entry point for investors.
Favorable Zoning & Parking: The RD1.5 zoning allows for higher density, and a long driveway provides valuable off-street parking for multiple vehicles in an urban setting.

Cons

Restricted Due Diligence Access: The 'drive by only' and 'do not disturb tenants' policy severely limits a buyer's ability to conduct thorough pre-offer inspections and assess the property's true condition.
Tenant-Occupied Delivery Challenges: The property will be delivered with all tenants occupied, which may complicate immediate plans for rent increases, renovations, or owner-occupancy due to existing tenant rights.
Potential for Deferred Maintenance (Age): Built in 1922, the property is likely to require significant capital expenditures for updates, repairs, and system upgrades, which are difficult to ascertain given the limited inspection access.

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