3408 N Figueroa Street, Los Angeles, California 90065, Los Angeles, 90065 - bed, bath
ACTIVE$1,399,000
3408 N Figueroa Street, Los Angeles, California 90065
0Bed
0Bath
3,494Sqft
4,926Lot
Year Built
1896
Close
-
List price
$1.4M
Original List price
$1.5M
Price/Sqft
$400
HOA
-
Days on market
-
Sold On
-
MLS number
MB22244067
Home ConditionPoor
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.40M(75th), sqft - 3494(75th), beds - undefined(50th), baths - undefined(50th).
Rare opportunity to own this 4 unit apartment building in Glassell Park. All units will be delivered tenant free at close of escrow. Potential to add value with the adjacent land parcel number 5446-020-018 included in the sale.
Nearby schools
4/10
Loreto Street Elementary School
Public,•K-5•0.1mi
2/10
Hillside Elementary School
Public,•K-5•0.3mi
2/10
Aragon Avenue Elementary School
Public,•K-5•0.7mi
7/10
Dorris Place Elementary School
Public,•K-6•1.2mi
3/10
Albion Street Elementary School
Public,•K-6•1.3mi
4/10
Glassell Park Elementary School
Public,•K-6•1.6mi
5/10
Florence Nightingale Middle School
Public,•6-8•0.1mi
6/10
Irving STEAM Magnet
Public,•6-8•2.5mi
5/10
Abraham Lincoln Senior High School
Public,•9-12•1.2mi
Price History
Date
Event
Price
05/07/07
Sold
$690,000
Condition Rating
Poor
The property was built in 1896. The images show the exterior of the building, which appears to be in need of substantial repairs and updates. Given the age of the property, it's likely that the interior, including the kitchens and bathrooms, also require significant rehabilitation. The presence of window AC units suggests the absence of central AC, further indicating the need for modernization.
Pros & Cons
Pros
Tenant-Free Delivery: All four units will be delivered tenant-free at the close of escrow, providing immediate control and flexibility for the new owner.
Value-Add Potential: Significant potential to increase property value through strategic renovations and upgrades to the existing units.
Additional Land Parcel: The inclusion of the adjacent land parcel (5446-020-018) offers expansion or development opportunities, enhancing the property's long-term investment potential.
Prime Location: Located in the desirable Glassell Park neighborhood of Los Angeles, offering access to local amenities, attractions, and transportation.
Income Property: The property is a quadruplex, which can generate rental income.
Cons
Age of Property: Built in 1896, the property may require ongoing maintenance and potential upgrades to meet modern standards and building codes.
Renovation Required: The units may require renovation to maximize rental income and attract quality tenants.
Price Reduction: The property has experienced a price reduction, which may indicate underlying issues or market challenges.