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3940 S Wilton Place, Los Angeles, California 90062, Los Angeles, 90062 - bed, bath

3940 S Wilton Place, Los Angeles, California 90062 home-pic-0
ACTIVE$850,000
3940 S Wilton Place, Los Angeles, California 90062
0Bed
0Bath
3,026Sqft
8,146Lot
Year Built
1924
Close
-
List price
$850K
Original List price
$850K
Price/Sqft
$281
HOA
-
Days on market
-
Sold On
-
MLS number
TR25067620
Home ConditionPoor
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $850.0K(50th), sqft - 3026(75th), beds - undefined(50th), baths - undefined(50th).

ONE UNIT WILL BE DELIVERED VACANT! Here are 3 units in a prime area of Los Angeles! The addresses are 1851 Leighton, 3940 S. Wilton and 3942 S. Wilton. Two of the units are 1br/1ba while the remaining unit is 2br/1ba. They have been lovingly maintained by long-time tenants. A total of 3026 sqft in living area and 8146 sqft lot size, all according to County Assessor records. You will appreciate these units on a CORNER lot, with each unit having its own private garage. These units all have Living Rooms, Formal Dining Rooms, and spacious Kitchens. Come see this investment opportunity as the 90062 market is thriving! LAX is about 8 miles away, USC a little over 3 miles, SOFI stadium about 4.5 miles, Downtown LA about 8 miles, and the 110 freeway on ramp about 2 miles.

Condition Rating
Poor
Built in 1924, this property is nearly a century old. The images reveal kitchens with very outdated cabinets, old linoleum/vinyl flooring, and a mix of basic, older appliances (some white, some slightly newer stainless steel but still basic models). There are no visible modern updates in the kitchens or other living areas shown. The property analysis explicitly mentions the need for 'significant capital expenditures for deferred maintenance, system upgrades (plumbing, electrical, HVAC), and modernization.' While currently occupied by long-term tenants, the overall condition suggests substantial rehabilitation is required to meet contemporary standards, aligning with the 'poor' category's description of requiring substantial repairs and rehabilitation, and likely extensive system replacements due to age.
Pros & Cons

Pros

Immediate Income Potential: One unit will be delivered vacant, providing an immediate opportunity for owner-occupancy or to secure a market-rate tenant, enhancing the property's income potential from day one.
Prime Los Angeles Location: Situated in a thriving 90062 market, the property boasts excellent proximity to major employment hubs and attractions including USC (3 miles), SOFI Stadium (4.5 miles), LAX (8 miles), and Downtown LA (8 miles), ensuring strong rental demand.
Multi-Unit Investment: As a triplex, this property offers diversified income streams and is a desirable asset for investors seeking residential income, providing a hedge against vacancy in a single unit.
Corner Lot & Private Garages: The property benefits from a corner lot, potentially offering better light and access, and each unit includes its own private garage, a highly valued amenity in urban Los Angeles.
Spacious Unit Layouts: Each unit features traditional layouts with Living Rooms, Formal Dining Rooms, and spacious Kitchens, appealing to tenants seeking comfortable and functional living spaces.

Cons

Age of Property: Built in 1924, the property is nearly a century old, which may necessitate significant capital expenditures for deferred maintenance, system upgrades (plumbing, electrical, HVAC), and modernization to meet contemporary standards.
Potential for Below-Market Rents: The presence of 'long-time tenants' in two units, common in older Los Angeles multi-family properties, suggests that current rents may be below market rates, limiting immediate income upside on these occupied units.
Lack of Desirable Views: The property description explicitly states 'view: None,' which could be a drawback in a competitive market where properties with city, mountain, or ocean views often command higher values.

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