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317 -319 N Commonwealth Avenue, Los Angeles, California 90004, Los Angeles, 90004 - 5 bed, 4 bath

317 -319 N Commonwealth Avenue, Los Angeles, California 90004 home-pic-0
ACTIVE$1,250,000
317 -319 N Commonwealth Avenue, Los Angeles, California 90004
5Beds
4Baths
1,722Sqft
7,500Lot
Year Built
1915
Close
-
List price
$1.25M
Original List price
$1.25M
Price/Sqft
$726
HOA
-
Days on market
-
Sold On
-
MLS number
PV25025094
Home ConditionFair
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.25M(50th), sqft - 1722(33th), beds - 5(67th), baths - 4(67th).

VACANT DUPLEX ON HUGE LOT - SELLER MOTIVATED This duplex is turnkey, vacant and located Mid-Wilshire/Silverlake Adjacent. Gated property with two units, 5 bedrooms and four bathrooms, two laundry rooms, two aircon units, solar panels owned by the property outright and over 10 parking spots on the property. It's on a HUGE lot with 7500 square feet of exterior space and is zoned for commercial/residential-MR1 zoning. You can also build two more ADU's on this lot under current zoning laws. There are no other investment properties like this on the market. Did I mention it's vacant on a huge lot? Reach out for more information about rental income opportunities. This lot is like no other on the market. Don't wait on this one. It's going off the market very soon.

Condition Rating
Fair
Built in 1915, this duplex is described as 'turnkey' and includes modern amenities like solar panels and air conditioning. However, the kitchen features dated medium-brown cabinets, speckled granite countertops, and older tile flooring. The bathrooms also show signs of being outdated with older tile work, traditional vanities, and basic shower enclosures. While functional and livable, the property's aesthetic components, particularly in the kitchen and bathrooms, appear to have been renovated 15-30 years ago and would benefit from cosmetic updates to meet current buyer expectations. The virtual staging in other rooms makes a full assessment of those areas difficult, but the non-staged areas indicate a 'fair' condition.
Pros & Cons

Pros

Exceptional Development Potential: Zoned MR1 on a 7500 sq ft lot, allowing for the addition of two ADUs, significantly increasing future income and property value.
Prime Investment Opportunity: A vacant duplex in a desirable Mid-Wilshire/Silverlake Adjacent location, ready for immediate rental income generation.
Sustainable & Practical Features: Equipped with owned solar panels for reduced operating costs and over 10 dedicated parking spots, a significant advantage in urban LA.
Turnkey & Vacant Status: The property is ready for immediate occupancy or rental, streamlining the investment process by avoiding tenant-related delays.
Versatile Zoning: MR1 zoning offers flexibility for both residential and commercial uses, broadening its appeal to various investors.

Cons

Historic Property Age: Built in 1915, which, despite being 'turnkey,' may imply potential for unseen maintenance issues or the need for future system upgrades.
Limited Renovation Specifics: The description lacks detailed information on recent major renovations, which could be a point of inquiry for a property of this age.
Aggressive Marketing Language: Phrases like 'Seller Motivated' and 'Going off the market very soon' might create a perception of urgency that could deter some cautious buyers.

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