328 N Herbert Avenue, Los Angeles, California 90063, Los Angeles, 90063 - 8 bed, 4 bath
ACTIVE$899,900
328 N Herbert Avenue, Los Angeles, California 90063
8Beds
4Baths
2,426Sqft
7,555Lot
Year Built
1922
Close
-
List price
$900K
Original List price
$1.2M
Price/Sqft
$371
HOA
-
Days on market
-
Sold On
-
MLS number
IV24215999
Home ConditionPoor
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $899.9K(81th), sqft - 2426(81th), beds - 8(92th), baths - 4(92th).
TWO Properties under one lot and each property has been converted into FOUR UNITS!!! Great income opportunity! This property is conveniently located close to major amenities, schools, parks, and transportation. All units come with 2 bed/1 bath and the current rent is $1,925 per unit. This is a rare but incredible opportunity, so don't miss out! Does need some fixing and updates, come see and experience the income potential this property has to offer! Property is sold as is. The two front units are vacant and the two back units have tenants. Open House coming soon!!!
Price History
Date
Event
Price
08/09/25
Price Change
$899,900
10/21/24
Listing
$1,199,999
Condition Rating
Poor
The property was built in 1922, making it over 100 years old. The listing explicitly states it 'Does need some fixing and updates' and is 'sold as is.' The exterior images show an older structure with visible window air conditioning units, indicating a lack of central HVAC and outdated systems. Without interior photos, it's highly probable that the kitchens and bathrooms are also significantly dated and require substantial renovation. This aligns with the 'Poor' condition criteria, suggesting the property needs significant repairs and rehabilitation to meet modern living standards.
Pros & Cons
Pros
High Income Potential: This property offers a significant income opportunity with four 2-bedroom, 1-bath units, currently generating $1,925 per unit, making it an attractive investment.
Multi-Unit Configuration: A rare find, this property consists of two structures on one lot, converted into a total of four independent units, providing diversified rental income streams.
Significant Price Reduction: The list price has been substantially reduced from its original $1.2 million to $899,900, indicating a motivated seller and potential for a strong return on investment.
Strategic Vacancy for Value-Add: Two of the four units are currently vacant, offering immediate flexibility for a new owner to renovate, update, and potentially increase rental income or occupy a unit.
Convenient Location: The property is conveniently located close to major amenities, schools, parks, and transportation, enhancing its appeal to potential tenants.
Cons
Requires Significant Updates: The property explicitly 'needs some fixing and updates,' implying a substantial capital investment will be required post-purchase to modernize and maximize its potential.
Sold As-Is Condition: Being sold 'as-is' means the seller will not undertake any repairs or improvements, placing the full responsibility and cost of necessary renovations on the buyer.
Age of Property: Built in 1922, the property's age suggests potential for outdated systems (plumbing, electrical) and higher maintenance costs compared to newer constructions.