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3935 E Cesar E Chavez Avenue, Los Angeles, California 90063, Los Angeles, 90063 - bed, bath

3935 E Cesar E Chavez Avenue, Los Angeles, California 90063 home-pic-0
ACTIVE$820,000
3935 E Cesar E Chavez Avenue, Los Angeles, California 90063
0Bed
0Bath
1,645Sqft
3,272Lot
Year Built
1930
Close
-
List price
$820K
Original List price
$999K
Price/Sqft
$498
HOA
-
Days on market
-
Sold On
-
MLS number
GD24098975
Home ConditionPoor
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $820.0K(64th), sqft - 1645(32th), beds - undefined(50th), baths - undefined(50th).

Fantastic Investment Opportunity: Mix-Use Property with Strong Income Potential Welcome to this exceptional income property, perfectly suited for savvy investors seeking a lucrative opportunity. Currently configured as four units, this versatile mix-use property offers a range of income streams and potential for expansion. Property Highlights: Fully Renovated Upstairs Apartment: Enjoy modern living in the tastefully renovated 3-bed, 1-bath upstairs apartment, offering spacious accommodations and contemporary amenities. Established Hair Salon: A long-standing anchor tenant, the established hair salon provides steady rental income and adds value to the property. Owner-Occupied Unit: The property includes a comfortable 1-bed, 1-bath unit ideal for an owner-user or as additional rental income. Studio Apartment: A cozy studio apartment completes the current rental offerings, providing diversity in tenant options. Expansion Potential: With ample space on the lot, there's exciting potential to expand the property and add more units, maximizing the income potential. Don't miss out on this exceptional opportunity to own a lucrative income property with endless potential. Schedule a viewing today and unlock the possibilities! Buyer to verify SqFT & units

Price History

Date
Event
Price
10/23/18
Sold
$560,000
Condition Rating
Poor
While the listing states a 'Fully Renovated Upstairs Apartment' which is reflected in images showing a modern kitchen and bathroom with updated finishes, flooring, and appliances, the property was built in 1930. Other units depicted in the images are significantly outdated, featuring old cabinets, worn carpet, popcorn ceilings, window AC units, and very basic, dated fixtures. The property analysis explicitly notes 'Advanced Property Age' and the potential need for 'substantial capital expenditures for system upgrades (plumbing, electrical, roof) and ongoing maintenance.' The overall condition of the entire multi-unit property, considering its age and the stark contrast between the renovated and unrenovated units, indicates that substantial repairs and rehabilitation are required for the property as a whole, aligning with a 'Poor' rating.
Pros & Cons

Pros

Diversified Income Streams: The property's mix-use configuration, including residential units and an established commercial tenant (hair salon), provides multiple, stable revenue sources.
Expansion Potential: Ample lot space offers a significant opportunity for future development and adding more units, enhancing long-term value and income.
Renovated Residential Unit: A recently renovated 3-bedroom apartment enhances tenant appeal and potential rental income, attracting quality occupants.
Established Commercial Tenant: The presence of a long-standing hair salon provides a reliable and consistent commercial income component, adding stability to the investment.
Owner-User Opportunity: The property includes a unit suitable for an owner-occupant, offering flexibility to live on-site while managing the investment and collecting rent.

Cons

Advanced Property Age: Constructed in 1930, the property may require substantial capital expenditures for system upgrades (plumbing, electrical, roof) and ongoing maintenance due to its age.
Recent Price Reduction: A notable price drop from the original listing ($999,000 to $820,000) suggests potential market resistance or initial overvaluation, warranting careful financial analysis.
Required Buyer Verification: The explicit instruction for buyers to verify square footage and units indicates potential discrepancies or a lack of detailed records, increasing due diligence complexity and risk.

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