4465 Tourmaline Street, Los Angeles, California 90032, Los Angeles, 90032 - bed, bath
ACTIVE$895,000
4465 Tourmaline Street, Los Angeles, California 90032
0Bed
0Bath
2,922Sqft
7,500Lot
Year Built
1902
Close
-
List price
$895K
Original List price
$985K
Price/Sqft
$306
HOA
-
Days on market
-
Sold On
-
MLS number
DW24228359
Home ConditionPoor
Features
Deck
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $895.0K(67th), sqft - 2922(92th), beds - undefined(50th), baths - undefined(50th).
4 units one vacant. Property is on the corner of tourmaline and huntington dr south. This is an lard 1.5. the lot is 7,500 sqft. selling in as is present physical condition.
Price History
Date
Event
Price
01/05/06
Sold
$525,000
02/26/03
Sold
$225,000
Condition Rating
Poor
Built in 1902 and sold 'as-is,' this property requires substantial repairs and rehabilitation. The property analysis explicitly notes its 'Advanced Age of Structure' and the need for 'Extensive Renovation Required,' indicating likely outdated plumbing, electrical, and other major systems. Visible window AC units suggest a lack of modern climate control. While the exterior has a fresh coat of paint, this is superficial and does not address the underlying structural and system deficiencies. Without interior photos, it's assumed kitchens and bathrooms are severely outdated and in poor condition, necessitating full replacement.
Pros & Cons
Pros
Multi-Unit Income Potential: As a quadruplex with one vacant unit, the property offers immediate rental income from three units and a clear opportunity to renovate and optimize rent for the fourth, enhancing cash flow.
Significant Development Upside: The LARD 1.5 zoning combined with a substantial 7,500 sqft corner lot presents considerable potential for future development, expansion, or increased density, a valuable asset in Los Angeles.
Desirable Corner Lot Position: The property's corner lot location typically provides enhanced visibility, more natural light, and potentially more flexible access points, which can be attractive for both tenants and future development.
Recent Price Adjustment: A reduction from the original list price of $985,000 to $895,000 indicates potential seller motivation and offers a more competitive entry point for prospective buyers.
Established Los Angeles Location: Located in El Sereno, an established Los Angeles neighborhood, the property benefits from access to urban amenities and a stable, in-demand rental market.
Cons
As-Is Sale Condition: The property is being sold 'as-is,' meaning the buyer will be solely responsible for all necessary repairs, upgrades, and code compliance, which could entail significant unforeseen expenses.
Advanced Age of Structure: Built in 1902, the property is likely to have outdated systems (e.g., plumbing, electrical) and potential structural issues, requiring substantial capital investment for modernization and ongoing maintenance.
Extensive Renovation Required: To maximize rental value, tenant appeal, and address the 'as-is' condition, particularly for the vacant unit, extensive renovation and modernization efforts are anticipated, incurring considerable costs and project management.