602 W 40th Place 3, Los Angeles, California 90037, Los Angeles, 90037 - bed, bath
ACTIVE$1,799,999
602 W 40th Place 3, Los Angeles, California 90037
0Bed
0Bath
3,692Sqft
6,750Lot
Year Built
1908
Close
-
List price
$1.8M
Original List price
$1.8M
Price/Sqft
$488
HOA
-
Days on market
-
Sold On
-
MLS number
DW23162842
Home ConditionFair
Features
View-
About this home
We found 2 Cons,3 Pros. Rank: price - $1.80M(96th), sqft - 3692(70th), beds - undefined(50th), baths - undefined(50th).
GREAT INVESTMENT OPPORTUNITY! This property offers the perfect combination of location and investment potential. This highly sought after property consist of three units. The front units has 4 bedrooms and 2 bathrooms on the first floor and 2 bedrooms and 1 bath on the 2nd floor. The 2 story rear unit was built in 2005 and has 4 bedrooms and 2 baths. Ideally located just steps from the BMO Stadium and a short walk to University of Southern California, Los Angeles Memorial Coliseum, and Natural History Museum of Los Angeles County. Property will be delivered with tenants in all units. Tenants are current with rent.
Nearby schools
5/10
Menlo Avenue Elementary School
Public,•K-5•0.4mi
5/10
West Vernon Avenue Elementary School
Public,•K-5•0.4mi
2/10
Marguerite Poindexter Lamotte Elementary
Public,•K-5•0.6mi
/10
Dr. James Edward Jones Primary Center
Public,•K-2•0.8mi
3/10
Trinity Street Elementary School
Public,•K-5•0.8mi
/10
Maple Primary Center
Public,•K-1•0.9mi
3/10
Normandie Avenue Elementary School
Public,•K-5•1.0mi
3/10
Fifty-Second Street Elementary School
Public,•K-5•1.0mi
2/10
Main Street Elementary School
Public,•K-5•1.3mi
2/10
Martin Luther King Jr. Elementary School
Public,•K-5•1.4mi
2/10
Western Avenue Elementary School
Public,•K-5•1.7mi
2/10
Forty-Second Street Elementary School
Public,•K-5•2.1mi
2/10
Tom Bradley Global Awareness Magnet School
Public,•K-5•2.2mi
3/10
Angeles Mesa Elementary School
Public,•K-5•2.4mi
3/10
Sixth Avenue Elementary School
Public,•K-5•2.5mi
3/10
William Jefferson Clinton Middle School
Public,•6-8•0.7mi
2/10
Barack Obama Global Preparation Academy
Public,•6-8•1.6mi
2/10
John Muir Middle School
Public,•6-8•1.7mi
3/10
Los Angeles Academy Middle
Public,•6-8•1.8mi
2/10
Audubon Middle School
Public,•6-8•2.6mi
1/10
Horace Mann Junior High School
Public,•6-8•2.8mi
3/10
Manual Arts Senior High School
Public,•9-12•0.4mi
2/10
Augustus F. Hawkins High A Critical Design And Gaming
Public,•9-12•1.7mi
5/10
Santee Education Complex
Public,•9-12•1.8mi
3/10
Nava College Preparatory Academy
Public,•9-12•1.9mi
1/10
Crenshaw Science, Technology, Engineering, Math And Medicine Magnet
Public,•9-12•2.7mi
Price History
Date
Event
Price
03/19/96
Sold
$190,000
Condition Rating
Fair
The property consists of three units, one built in 1908 and another in 2005. The images show that the units built in 1908 have aged kitchens and bathrooms with outdated appliances and fixtures. While the rear unit built in 2005 appears to be in better condition, the overall condition is fair due to the age and condition of the front units. The property requires minor updates or repairs.
Pros & Cons
Pros
Prime Location: Located steps from BMO Stadium and a short walk to USC, the Coliseum, and the Natural History Museum, offering high tenant demand and potential for increased rental income.
Investment Opportunity: The property consists of three units, providing a diversified income stream and potential for appreciation.
Positive Cash Flow: All units are currently occupied with tenants who are current on rent, ensuring immediate income for the investor.
Cons
Age of Property: The front units were built in 1908, potentially requiring ongoing maintenance and upgrades.
Tenant Occupied: Property will be delivered with tenants, which may limit immediate renovation or owner-occupancy options.