315 S Commonwealth Avenue, Los Angeles, California 90020, Los Angeles, 90020 - 4 bed, 4 bath
ACTIVE$2,200,000
315 S Commonwealth Avenue, Los Angeles, California 90020
4Beds
4Baths
4,936Sqft
7,826Lot
Year Built
1936
Close
-
List price
$2.2M
Original List price
$2.2M
Price/Sqft
$446
HOA
-
Days on market
-
Sold On
-
MLS number
OC25084953
Home ConditionPoor
Features
View-
About this home
We found 3 Cons,5 Pros.
4 Plex Investor or owner user available for profitable opportunity. Needs a remodel and could possibly make for a great section 8 value for the creative investor.
Price History
Date
Event
Price
05/13/22
Sold
$1,800,000
06/09/16
Sold
$1,305,000
04/04/14
Sold
$1,012,000
03/29/12
Sold
$500
Condition Rating
Poor
Built in 1936, this property explicitly 'Needs a remodel' and requires 'Extensive Remodel Required' according to the listing description and property analysis. It likely has outdated core systems (plumbing, electrical, HVAC) and significant deferred maintenance, indicating substantial repairs and rehabilitation are necessary to make it habitable and functional, aligning with a 'Poor' condition.
Pros & Cons
Pros
Income-Generating Quadruplex: The property is a 4-plex, offering immediate potential for multiple rental income streams, ideal for investors or owner-users seeking passive income.
Prime Mid-Wilshire Location: Situated in the desirable C17 Mid-Wilshire area of Los Angeles, ensuring strong rental demand, potential for appreciation, and access to urban amenities.
Significant Value-Add Opportunity: Explicitly stated as needing a remodel, this presents a substantial opportunity for a creative investor to enhance property value and rental income through strategic renovations.
Generous Square Footage: With 4936 sqft, the property offers ample living space across its four units, providing flexibility for unit configurations and appealing to a wider tenant base.
Potential for Section 8 Housing: The description highlights its suitability for Section 8, suggesting a stable tenant pool and government-backed rental income, which can reduce vacancy risk.
Cons
Extensive Remodel Required: The property 'needs a remodel,' indicating significant upfront capital investment and time commitment will be necessary to modernize and maximize its potential.
Historic Property Age: Built in 1936, the property likely requires updates to its core systems (plumbing, electrical, HVAC) and may have deferred maintenance, leading to higher renovation costs.
Lack of Desirable Views: The property explicitly states 'None' for views, which could be a drawback for some tenants or buyers in a market where views often command a premium.