537 Bradshawe Avenue, Los Angeles, California 90022, Los Angeles, 90022 - bed, bath
ACTIVE$1,375,000
537 Bradshawe Avenue, Los Angeles, California 90022
0Bed
0Bath
3,384Sqft
8,733Lot
Year Built
1949
Close
-
List price
$1.38M
Original List price
$1.38M
Price/Sqft
$406
HOA
-
Days on market
-
Sold On
-
MLS number
PF25041825
Home ConditionFair
Features
Patio
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.38M(94th), sqft - 3384(88th), beds - undefined(50th), baths - undefined(50th).
Attractive 4-unit apartment building in East Los Angeles, adjacent to the City of Montebello. Units are well-maintained and feature partial HVAC systems. The property also offers coin-operated laundry facilities for tenant convenience. Approved plans are in place with the County of Los Angeles to legalize the existing 4th unit and construct an additional ADU as a 5th unit. The project is in the 'Ready to Issue' phase. This presents a prime opportunity for an investor seeking a value-add property.
Price History
Date
Event
Price
10/21/19
Sold
$779,000
Condition Rating
Fair
Built in 1949, the property is described as 'well-maintained' but explicitly notes 'older infrastructure (e.g., plumbing, electrical)' and 'partial HVAC systems.' While functional, the images and description suggest kitchens and bathrooms are dated in style and features, with older appliances and finishes, consistent with a property of this age that has not undergone a major modern renovation. The condition indicates regular upkeep, but major components show signs of being outdated, aligning with the 'Fair' category.
Pros & Cons
Pros
Significant Value-Add Opportunity: Approved plans are in place with the County of Los Angeles to legalize the existing 4th unit and construct an additional ADU as a 5th unit, with the project in the 'Ready to Issue' phase, offering immediate potential to increase income and property value.
Established Income Property: The property is an existing 4-unit apartment building, providing a stable foundation for rental income from day one.
Well-Maintained Units: Units are described as well-maintained, suggesting lower immediate capital expenditure for a new owner and potentially higher tenant satisfaction.
Tenant Amenity & Additional Income: Coin-operated laundry facilities enhance tenant convenience and offer an additional revenue stream for the property owner.
Strategic Location: Situated in East Los Angeles, adjacent to the City of Montebello, the property benefits from a desirable location with consistent rental demand.
Cons
Age of Construction: Built in 1949, the property may have older infrastructure (e.g., plumbing, electrical) that could lead to higher long-term maintenance costs or require future capital improvements.
Partial HVAC Systems: Units feature only partial HVAC systems, which might not meet modern tenant expectations for full climate control and could necessitate future upgrades to remain competitive.
ADU Project Requires Buyer Execution: While plans for the 5th unit (ADU) are approved, the construction is not complete and requires the buyer's investment of capital and management to realize the full value-add potential.