3057 Lanfranco Street, Los Angeles, California 90063, Los Angeles, 90063 - 3 bed, 3 bath
ACTIVE$750,000
3057 Lanfranco Street, Los Angeles, California 90063
3Beds
3Baths
1,894Sqft
7,022Lot
Year Built
1920
Close
-
List price
$750K
Original List price
$849K
Price/Sqft
$396
HOA
-
Days on market
-
Sold On
-
MLS number
PW25041362
Home ConditionPoor
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $750.0K(50th), sqft - 1894(50th), beds - 3(80th), baths - 3(84th).
Welcome to 3057 Lanfranco Street in Los Angeles. This is aa great investment opportunity. The tenants have been there for years and would love to stay. The duplex can easily be converted back to a triplex. It once was 3 properties on the lot. This is a must see. Close to downtown LA and to transportation. Easy access to freeways and everything that Los Angeles has to offer. 5 bed 3 bath!
Nearby schools
5/10
Euclid Avenue Elementary School
Public,•K-5•0.3mi
2/10
First Street Elementary School
Public,•K-6•0.5mi
5/10
Sunrise Elementary School
Public,•K-6•0.5mi
2/10
Lorena Street Elementary School
Public,•K-5•0.6mi
4/10
Soto Street Elementary School
Public,•K-6•0.8mi
4/10
Breed Street Elementary School
Public,•K-6•0.8mi
4/10
Malabar Street Elementary School
Public,•K-6•0.9mi
4/10
Christopher Dena Elementary School
Public,•K-6•0.9mi
3/10
Belvedere Elementary School
Public,•K-5•1.0mi
5/10
Rowan Avenue Elementary School
Public,•K-5•1.0mi
/10
Garza (Carmen Lomas) Primary Center
Public,•K-2•1.1mi
4/10
Second Street Elementary School
Public,•K-6•1.1mi
3/10
Sheridan Street Elementary School
Public,•K-6•1.1mi
/10
Amanecer Primary Center
Public,•K-2•1.2mi
4/10
Evergreen Avenue Elementary School
Public,•K-6•1.3mi
5/10
Eastman Avenue Elementary School
Public,•K-5•1.4mi
4/10
Bridge Street Elementary School
Public,•K-5•1.5mi
3/10
Harrison Street Elementary School
Public,•K-6•1.6mi
2/10
Murchison Street Elementary School
Public,•K-6•1.8mi
4/10
Griffin Avenue Elementary School
Public,•K-5•2.4mi
5/10
Ninth Street School
Public,•K-5•2.5mi
4/10
Gates Street Elementary School
Public,•K-5•2.6mi
3/10
Albion Street Elementary School
Public,•K-6•2.6mi
3/10
Ann Street Elementary School
Public,•K-6•2.7mi
6/10
Hollenbeck Middle School
Public,•6-8•0.5mi
3/10
Robert Louis Stevenson Middle School
Public,•6-8•0.8mi
4/10
Belvedere Middle School
Public,•6-8•1.3mi
4/10
Utah Street Elementary School
Public,•K-8•1.6mi
6/10
Vernon City Elementary School
Public,•K-7•2.6mi
4/10
Chester W. Nimitz Middle School
Public,•6-8•3.3mi
5/10
El Sereno Middle School
Public,•6-8•3.4mi
3/10
Henry T. Gage Middle School
Public,•6-8•3.7mi
5/10
Florence Nightingale Middle School
Public,•6-8•3.7mi
5/10
STEM Academy of Boyle Heights HS
Public,•9-12•0.4mi
3/10
Theodore Roosevelt Senior High
Public,•9-12•0.6mi
5/10
Felicitas And Gonzalo Mendez High
Public,•9-12•1.7mi
7/10
James A. Garfield Senior High School
Public,•9-12•2.7mi
4/10
Woodrow Wilson Senior High School
Public,•9-12•2.7mi
5/10
Abraham Lincoln Senior High School
Public,•9-12•2.8mi
4/10
Huntington Park Senior High School
Public,•9-12•3.4mi
5/10
Maywood Academy High
Public,•9-12•3.6mi
5/10
Bell Senior High School
Public,•9-12•4.2mi
4/10
Elizabeth Learning Center
Public,•K-12•5.1mi
Condition Rating
Poor
Built in 1920, this property is over a century old with no indication of recent major renovations. The exterior image suggests an older home with deferred maintenance, including overgrown landscaping and an aged fence. Crucially, the AI analysis highlights a 'higher likelihood of needing significant updates to plumbing, electrical, roofing, and other major systems' and 'potential for deferred maintenance.' Without interior images, it's highly probable that the kitchen and bathrooms are severely outdated in style and features, requiring substantial repairs and rehabilitation to meet modern standards. This aligns with the 'Poor' condition criteria, indicating major components require repair or replacement.
Pros & Cons
Pros
Strong Investment Potential: Explicitly marketed as a 'great investment opportunity' and classified as 'Residential Income,' appealing to investors seeking rental returns and cash flow.
Value-Add Conversion Opportunity: The property, currently a duplex, can 'easily be converted back to a triplex,' offering significant potential to increase rental units and maximize income.
Excellent Urban Accessibility: Strategically located 'close to downtown LA and to transportation,' with 'easy access to freeways,' providing convenience for tenants and enhancing property demand.
Established Tenant Base: Features long-term tenants who 'would love to stay,' ensuring immediate and stable rental income for a new owner without the hassle of finding new occupants.
Significant Price Adjustment: The list price has been reduced from $849,000 to $750,000, indicating a motivated seller and a potentially attractive entry point for buyers.
Cons
Advanced Age of Property: Built in 1920, the property is over a century old, which typically implies a higher likelihood of needing significant updates to plumbing, electrical, roofing, and other major systems, potentially incurring substantial renovation costs.
Conflicting Property Details: There is a notable discrepancy between the description stating '5 bed 3 bath' and the structured data listing 'beds:3 baths:3.' This inconsistency requires immediate clarification as it impacts the property's legal configuration, potential income, and overall value.
Potential for Deferred Maintenance: Given its age and status as an income property with long-term tenants, there's a strong possibility of deferred maintenance, meaning a new owner may need to invest in repairs and upgrades to bring the property to modern standards or maximize rental potential.