4224 S Western Avenue, Los Angeles, California 90062, Los Angeles, 90062 - bed, bath
ACTIVE$2,700,000
4224 S Western Avenue, Los Angeles, California 90062
0Bed
0Bath
7,880Sqft
5,667Lot
Year Built
2022
Close
-
List price
$2.7M
Original List price
$2.7M
Price/Sqft
$343
HOA
-
Days on market
-
Sold On
-
MLS number
CV25044807
Home ConditionExcellent
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $2.70M(94th), sqft - 7880(94th), beds - undefined(50th), baths - undefined(50th).
Dont miss this incredible investment opportunity! This well-maintained four-unit property plus a permitted ADU was built in 2002 and offers strong rental income with great tenants in place. Each unit comes with two dedicated parking spaces, a highly desirable feature in the Los Angeles area. Conveniently located near Downtown Los Angeles, this property provides easy access to employment centers, entertainment, and major freeways. Whether you are an investor looking for a solid income-generating property or a buyer seeking multi-unit living, this is an opportunity you dont want to miss!
Price History
Date
Event
Price
12/14/20
Sold
$755,000
04/09/18
Sold
$550,000
Condition Rating
Excellent
Despite a discrepancy in the 'year_built' field (2022) versus the description (2002), the provided images strongly indicate that the property is either newly built in 2022 or has undergone a complete and extensive renovation within the last 1-2 years. The interior showcases a modern aesthetic with new dark laminate flooring, fresh white paint, and recessed lighting. The kitchen is fully updated with new white shaker cabinets, contemporary countertops, stainless steel appliances (including a modern refrigerator and dishwasher), and an undermount sink. The visible bathroom elements also appear new and modern. The exterior is clean, contemporary, and well-maintained. All components appear new or virtually new, meeting current quality standards with no deferred maintenance.
Pros & Cons
Pros
High Income Potential: A five-unit property (quadruplex plus a permitted ADU) maximizes rental income and diversification, appealing to investors seeking robust cash flow.
Established Cash Flow: Benefits from strong rental income and existing 'great tenants,' ensuring immediate and stable cash flow with reduced vacancy risk.
Valuable Parking: Each unit includes two dedicated parking spaces, a highly desirable and competitive amenity in the dense Los Angeles market.
Strategic Urban Location: Proximity to Downtown Los Angeles offers excellent tenant appeal due to convenient access to employment centers, entertainment, and major freeways.
Relatively Modern Construction: Built in 2002 and described as well-maintained, suggesting a more modern infrastructure and potentially lower immediate maintenance costs compared to older multi-family properties in the area.
Cons
Year Built Discrepancy: A significant inconsistency exists between the 'year_built' field (2022) and the description (2002), requiring immediate clarification for accurate valuation and assessment.
Dense Lot Utilization: The 5,667 sqft lot size for five units (quadruplex + ADU) suggests limited private outdoor space or common amenities, which could be a drawback for tenant appeal and property value.
Rent Control Implications: As a multi-unit property built in 2002 in Los Angeles, it is likely subject to local rent control regulations, potentially impacting future rent growth and investor returns.