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3226 Palm Avenue, Lynwood, California 90262, Lynwood, 90262 - bed, bath

3226 Palm Avenue, Lynwood, California 90262 home-pic-0
ACTIVE$849,000
3226 Palm Avenue, Lynwood, California 90262
0Bed
0Bath
2,313Sqft
8,121Lot
Year Built
1937
Close
-
List price
$849K
Original List price
$849K
Price/Sqft
$367
HOA
-
Days on market
-
Sold On
-
MLS number
RS25183254
Home ConditionFair
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $849.0K(43th), sqft - 2313(71th), beds - undefined(50th), baths - undefined(50th).

Excellent Investment Opportunity! This well-maintained triplex offers strong income potential and flexibility for owner-occupants or investors. All three units come with their own 2-car garages plus additional on-site parking, Two units are 1 bed / 1 bath, One unit is a 3 bed / 1 bath, One of the 1-bedroom units has been recently remodeled, Live in one unit and rent the others to help offset your mortgage, or lease all three for solid rental income. Tons of upside potential Consider converting one of the garages into an ADU (buyer to verify with city). Don’t miss this rare opportunity to own a versatile and income-generating property

Price History

Date
Event
Price
08/13/25
Listing
$849,000
06/17/21
Sold
$680,000
11/30/05
Sold
$540,000
03/10/05
Sold
$450,000
01/20/94
Sold
$213,000
Condition Rating
Fair
Built in 1937, this triplex is described as 'well-maintained' with one 1-bedroom unit recently remodeled. While one unit shows updated flooring and fresh paint, the visible kitchen features dated white cabinets, an older countertop, and basic appliances, indicating it's functional but not modern. The exterior shows signs of age with a rusty fence and cracked driveway. The property requires minor updates to bring it to current standards, fitting the 'fair' category where major components are functional but show signs of being outdated, despite some recent upkeep.
Pros & Cons

Pros

Strong Income & Owner-Occupant Potential: This triplex offers significant income generation opportunities, with flexibility for an owner to live in one unit and rent out the others to offset mortgage costs.
ADU Conversion Upside: The property presents substantial upside potential through the possible conversion of one of the existing garages into an Accessory Dwelling Unit (ADU), subject to city verification.
Ample Dedicated Parking: Each of the three units benefits from its own 2-car garage, complemented by additional on-site parking, a significant advantage for multi-unit properties.
Partial Unit Modernization: One of the 1-bedroom units has been recently remodeled, offering a modern and updated living space that can attract quality tenants or an owner-occupant.
Well-Maintained Condition: Described as a 'well-maintained triplex,' indicating good upkeep and potentially reducing immediate maintenance concerns for a new owner.

Cons

Property Age: Built in 1937, the property's age may suggest potential for future capital expenditures related to aging infrastructure (e.g., plumbing, electrical, roof) despite being well-maintained.
Limited Unit Updates: While one unit is remodeled, the other two units (one 1-bed, one 3-bed) are not explicitly stated as updated, potentially requiring further investment to maximize rental income or tenant appeal.
ADU Conversion Uncertainty: The potential for ADU conversion requires buyer verification with the city, introducing an element of uncertainty and additional due diligence for the investor.

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