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426 N Virgil Avenue, Los Angeles, California 90004, Los Angeles, 90004 - bed, bath

426 N Virgil Avenue, Los Angeles, California 90004 home-pic-0
ACTIVE$1,699,000
426 N Virgil Avenue, Los Angeles, California 90004
0Bed
0Bath
3,427Sqft
7,015Lot
Year Built
1924
Close
-
List price
$1.7M
Original List price
$1.8M
Price/Sqft
$496
HOA
-
Days on market
-
Sold On
-
MLS number
OC25233036
Home ConditionPoor
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.70M(67th), sqft - 3427(50th), beds - undefined(50th), baths - undefined(50th).

Attention investors & developers! Discover 426 N Virgil Ave, a 5-unit multifamily investment gem located just minutes from Silver Lake, Echo Park, Sunset, Hollywood, and Downtown. Generating strong, consistent cash flow with long-term income stability, this property still holds untapped potential for significant rental upside. Its desirable LAR3 zoning also unlocks redevelopment possibilities for up to 9 units. Spanning 3,427 sq ft on a generous 7,013 sq ft lot, it features a dynamic unit mix (1 x 3BD/2BA, 1 x 2BD/1.5BA, 3 x 1BD/1BA) across four well-maintained buildings, all individually metered for easy management and optimal utility efficiency. Includes 6-car driveway parking, plus a garage for parking or storage. Seize this rare opportunity to own a high-yielding, income-producing asset in a thriving rental market!

Price History

Date
Event
Price
11/12/25
Price Change
$1,699,000-5.6%
10/07/25
Listing
$1,799,000
08/21/00
Sold
$154,000
Condition Rating
Poor
Built in 1924, this property is 100 years old. The complete absence of interior images, particularly for kitchens and bathrooms, strongly suggests these critical areas are in very poor and outdated condition, requiring substantial renovation. The MLS description emphasizes 'redevelopment possibilities' and 'untapped potential for significant rental upside,' further indicating that the current units are not up to modern standards. While described as 'well-maintained' externally, the property's age and the lack of interior visuals, coupled with the explicit 'Property Age' weakness in the analysis, point to a need for extensive system upgrades and rehabilitation to meet contemporary living standards.
Pros & Cons

Pros

Redevelopment Potential: Desirable LAR3 zoning allows for significant expansion, potentially up to 9 units, offering substantial future value and development opportunities.
Prime Urban Location: Strategically located minutes from Silver Lake, Echo Park, Hollywood, and Downtown, ensuring high rental demand and tenant appeal.
Consistent Cash Flow: The property is noted for generating strong, consistent cash flow, providing immediate income stability for investors.
Efficient Management: All units are individually metered, simplifying utility management and reducing owner-borne expenses.
Ample Parking: Features 6-car driveway parking plus a garage, a highly valuable amenity in a dense urban area like Los Angeles.

Cons

Property Age: Built in 1924, the property may require ongoing maintenance and potential system upgrades to meet modern standards and avoid deferred costs.
Recent Price Reduction: A recent price drop from the original listing suggests potential market resistance or an initial overvaluation, warranting further investigation.
Unrealized Rental Upside: While offering potential, the 'untapped potential for significant rental upside' implies current rents may be below market, requiring active management or investment to maximize income.

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