529 W 56th Street, Los Angeles, California 90037, Los Angeles, 90037 - bed, bath
ACTIVE$950,500
529 W 56th Street, Los Angeles, California 90037
0Bed
0Bath
2,370Sqft
5,402Lot
Year Built
1929
Close
-
List price
$951K
Original List price
$989K
Price/Sqft
$401
HOA
-
Days on market
-
Sold On
-
MLS number
DW25160496
Home ConditionPoor
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $950.5K(50th), sqft - 2370(43th), beds - undefined(50th), baths - undefined(50th).
Perfect opportunity to live in one unit and have the rest pay your mortgage!! One unit will be sold without tenants while you collect rents from the others. Decent amount of parking spaces in a great area near transportation, shopping centers and schools. It is near USC, Coliseum and LAFC Stadium. You will not have a problem renting out any of the units.
Price History
Date
Event
Price
09/24/25
Price Change
$950,500-3.0%
09/09/25
Price Change
$980,000-0.9%
07/16/25
Listing
$989,000
12/24/20
Sold
$670,000
11/13/95
Sold
$155,000
Condition Rating
Poor
The property was built in 1929, making it 95 years old. The exterior shows significant signs of age and neglect, including worn and dated pink stucco, cracked concrete pathways, exposed wiring, and security bars on windows. The absence of any interior photos, especially for a property of this age and visible exterior condition, strongly suggests that the interior, including kitchens and bathrooms, is likely in poor condition and requires substantial repairs and rehabilitation. Major systems are almost certainly beyond their expected lifespan and would need extensive updates.
Pros & Cons
Pros
Strong Income Potential: As a quadruplex, the property offers significant income generation, with the explicit mention of living in one unit and having others cover the mortgage, making it attractive for owner-occupant investors.
Prime Rental Location: Proximity to major institutions like USC, the Coliseum, and LAFC Stadium, along with transportation, shopping, and schools, ensures high rental demand and ease of tenant acquisition.
Owner-Occupant Investment Opportunity: The unique offering of one vacant unit allows a buyer to immediately occupy a unit while benefiting from rental income from the others, a strong financial advantage.
Ample Parking: The presence of 'decent amount of parking spaces' is a valuable amenity in a dense urban environment like Los Angeles, enhancing tenant appeal and property value.
Recent Price Reduction: A notable price reduction from $989,000 to $950,500 suggests a motivated seller and potentially a more attractive entry point for buyers.
Cons
Advanced Age of Property: Built in 1929, the property is nearly 100 years old, likely indicating outdated systems, potential for significant deferred maintenance, and the need for substantial capital expenditures for renovations or upgrades.
Undisclosed Condition/Renovation Status: The description lacks any information regarding the current condition of the units or any recent renovations, suggesting the property may be in original or dated condition, requiring buyer investment for modernization.
Potential for High Operating Costs: Older multi-unit properties often come with higher ongoing maintenance, repair, and utility costs, which could impact the overall profitability and cash flow for an investor.