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543 N Heliotrope Drive, Los Angeles, California 90004, Los Angeles, 90004 - bed, bath

543 N Heliotrope Drive, Los Angeles, California 90004 home-pic-0
ACTIVE$2,190,000
543 N Heliotrope Drive, Los Angeles, California 90004
0Bed
0Bath
4,808Sqft
8,000Lot
Year Built
1915
Close
-
List price
$2.19M
Original List price
$2.19M
Price/Sqft
$455
HOA
-
Days on market
-
Sold On
-
MLS number
GD25008771
Home ConditionGood
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $2.19M(67th), sqft - 4808(67th), beds - undefined(50th), baths - undefined(50th).

Attention all prime investors! This incredible quadruplex boasting 4 units, total of 8 beds + 2 bonus rooms is now available in the sought-after Mid-Wilshire area, in the R3 zoning. Each unit is assigned its own address, complete with a separate water heater, central AC unit and gas/electric meters . All units are equipped with a private laundry area for added convenience. This gated building offers ample parking in the front and back. The property sits on a large enough plot of land to accommodate additional units at the back, potentially transforming the building into a 6-8 unit structure. This amazing location provides easy access to schools, popular dining options, markets, freeway and metro. Property can be delivered vacant.

Condition Rating
Good
Despite being built in 1915, the property appears to have undergone significant renovations, making it move-in ready. Each unit features modern amenities such as central AC, separate water heaters, and private laundry areas. The visible interiors, including the kitchen with stainless steel appliances, updated cabinetry, and stone countertops, along with hardwood flooring and recessed lighting in living areas, suggest a well-maintained property with functional systems. While the exterior shows its age, the interior updates and modern infrastructure components elevate its condition beyond 'Fair'. The absence of bathroom images prevents a full assessment of those areas, but the overall impression is of a property that has been updated within the last 5-15 years, aligning with the 'Good' criteria.
Pros & Cons

Pros

High Income Potential & Expansion Opportunity: Existing quadruplex with R3 zoning and a large 8000 sqft lot allows for significant expansion to 6-8 units, maximizing rental income potential.
Prime Mid-Wilshire Location: Situated in a highly desirable Los Angeles neighborhood with excellent access to schools, dining, markets, freeway, and public transit (metro).
Individual Unit Utilities & Amenities: Each unit features separate addresses, water heaters, central AC, gas/electric meters, and private laundry, enhancing tenant appeal and simplifying utility management.
Vacant Delivery: The ability to deliver the property vacant provides immediate flexibility for the new owner to renovate, re-tenant at market rates, or proceed with expansion plans without existing tenant complications.
Ample Gated Parking: The property offers ample parking in both the front and back within a gated building, a valuable amenity in a dense urban area like Los Angeles.

Cons

Age of Property: Built in 1915, the property is over a century old, which may imply potential for aging infrastructure, deferred maintenance, or the need for substantial capital expenditures for renovations beyond cosmetic updates.
Significant Capital Investment for Expansion: While expansion is a strength, realizing the potential for 6-8 units requires substantial additional capital investment, architectural planning, permitting, and construction, adding to the overall project cost and timeline.
High Entry Price Point: The list price of $2.19 million represents a significant initial investment, which, combined with potential renovation and expansion costs, targets a very specific investor profile and may limit the pool of potential buyers.

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