5141 Oakland Street, Los Angeles, California 90032, Los Angeles, 90032 - bed, bath
ACTIVE$950,000
5141 Oakland Street, Los Angeles, California 90032
0Bed
0Bath
1,848Sqft
6,306Lot
Year Built
1912
Close
-
List price
$950K
Original List price
$950K
Price/Sqft
$514
HOA
-
Days on market
-
Sold On
-
MLS number
WS25050460
Home ConditionPoor
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $950.0K(67th), sqft - 1848(50th), beds - undefined(50th), baths - undefined(50th).
Multi-family home with three separate detached units. First Unit 5141 Oakland: 2 bedrooms and 1 bath. Second Unit 5141 1/2 Oakland: 1 bedroom 1 bath. Third Unit 5143 Oakland: 1 bedroom 1 bath. Each unit has own separate entryway. Walking distance to supermarket, bus stations, and all amenities in the neighborhood. Buyer to perform own due diligence and verify square footage.
Price History
Date
Event
Price
07/11/22
Sold
$700,000
01/17/14
Sold
$380,000
02/22/13
Sold
$289,000
07/23/99
Sold
$165,000
Condition Rating
Poor
Built in 1912, this property is over a century old. The images reveal extremely dated kitchens and bathrooms, likely last renovated 40-50+ years ago. The kitchens feature old cabinets, very old appliances, and basic flooring, while the bathrooms have outdated tiles, vanities, and fixtures. The property analysis confirms the need for 'substantial ongoing maintenance, repairs, and potential system upgrades (e.g., plumbing, electrical, roof),' indicating that major components require significant rehabilitation to meet modern standards and comfort.
Pros & Cons
Pros
Income-Generating Triplex: The property features three separate detached units, providing multiple income streams and strong cash flow potential for investors.
Detached Units & Privacy: Each of the three units is detached and has its own separate entryway, offering enhanced privacy and a more desirable living experience for tenants compared to typical multi-family properties.
Prime Los Angeles Location: Situated in Los Angeles, a high-demand rental market, ensuring strong tenant interest, competitive rental rates, and potential for continued property value appreciation.
Excellent Walkability & Amenities: The property boasts a highly convenient location within walking distance to supermarkets, bus stations, and various neighborhood amenities, significantly enhancing tenant appeal.
Proven Historical Appreciation: The sales history indicates significant property value growth over the past decades, suggesting a robust investment with a strong track record of appreciation.
Cons
Advanced Age of Property: Built in 1912, the property is over a century old, likely requiring substantial ongoing maintenance, repairs, and potential system upgrades (e.g., plumbing, electrical, roof) to ensure long-term viability.
Potential for Capital Expenditures: Without explicit mention of recent renovations, the units may be dated, potentially requiring significant capital investment to modernize and attract premium tenants or maximize rental income.
Aggressive Pricing Relative to Last Sale: The current list price of $950,000 represents a substantial increase from the last recorded sale of $700,000 in 2022, which may require strong market justification to potential buyers.