3065 E 6th Street, Los Angeles, California 90023, Los Angeles, 90023 - bed, bath
ACTIVE$679,999
3065 E 6th Street, Los Angeles, California 90023
0Bed
0Bath
1,777Sqft
6,683Lot
Year Built
1904
Close
-
List price
$680K
Original List price
$680K
Price/Sqft
$383
HOA
-
Days on market
-
Sold On
-
MLS number
DW25017935
Home ConditionPoor
Features
Patio
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $680.0K(62th), sqft - 1777(54th), beds - undefined(50th), baths - undefined(50th).
Great for Investors! 3 Separate Units in great location near the 6th street bridge. Just skip and a hop to the Arts District. This property offers many possibilities and potential for the new owner.
Price History
Date
Event
Price
08/15/17
Sold
$505,000
12/24/15
Sold
$390,000
05/25/12
Sold
$215,000
Condition Rating
Poor
Built in 1904, this property is over a century old. The images reveal extremely dated kitchens and bathrooms, consistent with renovations from 30-50+ years ago, or even older. The kitchen features old, peeling cabinets, dated laminate countertops, an older freestanding range, and worn linoleum flooring. Bathrooms display very old small square tiles, basic fixtures, and show significant wear. The property description itself notes 'Historic Age & Condition' and states it's 'likely requiring significant capital expenditure for deferred maintenance, system upgrades (plumbing, electrical), and modernization.' While not a tear-down, it requires substantial repairs and rehabilitation to address outdated systems and aesthetics for comfortable living.
Pros & Cons
Pros
Income-Generating Triplex: The property features three separate units, providing immediate rental income and diversified cash flow, making it an attractive asset for investors.
Strategic Location: Located near the iconic 6th Street Bridge and a short distance to the vibrant Arts District, the property benefits from high tenant demand and strong potential for future appreciation in a desirable Los Angeles neighborhood.
Development Potential: With a generous 6,683 sqft lot size in an urban area, there are opportunities for expansion, landscaping improvements, or potential Additional Dwelling Unit (ADU) development, subject to local zoning regulations.
Proven Market Appreciation: The property's sales history demonstrates consistent and substantial value growth over the past decade, indicating a robust market and strong long-term investment potential for the area.
Versatility for Investors: The description highlights 'many possibilities and potential for the new owner,' suggesting flexibility for various investment strategies, including renovation, value-add, or long-term hold.
Cons
Historic Age & Condition: Built in 1904, the property is over a century old, likely requiring significant capital expenditure for deferred maintenance, system upgrades (plumbing, electrical), and modernization to meet current standards and tenant expectations.
Small Individual Unit Sizes: With a total of 1777 sqft divided among three units, the individual units are relatively small, which may limit the pool of prospective tenants and potentially cap rental income compared to larger units.
Rent Control Exposure: As an older multi-unit property in Los Angeles, it is highly probable that the units are subject to rent control ordinances, which can restrict rent increases and impact an investor's ability to maximize returns and manage tenants.