620 W 41st Place, Los Angeles, California 90037, Los Angeles, 90037 - bed, bath
ACTIVE$1,700,000
620 W 41st Place, Los Angeles, California 90037
0Bed
0Bath
3,872Sqft
6,752Lot
Year Built
1924
Close
-
List price
$1.7M
Original List price
$1.75M
Price/Sqft
$439
HOA
-
Days on market
-
Sold On
-
MLS number
SR25020068
Home ConditionPoor
Features
Patio
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.70M(96th), sqft - 3872(74th), beds - undefined(50th), baths - undefined(50th).
VERY MOTIVATED SELLER SAID “REDUCE”! Excellent investment opportunity located minutes away from Downtown Los Angeles. This triplex is centrally located and within walking distance to USC, the Coliseum, BMO Stadium, George Lucas Museum, Exposition Park and Expo Line Train Station. Easy access to 10, 105, and 110 freeways with quick access to Downtown LA, Inglewood, LAX, Long Beach, Crypto.com Arena, Dodgers Stadium, Intuit Dome, SoFi Stadium, The Forum and Hollywood Park Casino. Tenants are in place with reasonable rents. There is plenty space in back yard to add an ADU. Must see to appreciate.
Nearby schools
5/10
Menlo Avenue Elementary School
Public,•K-5•0.3mi
5/10
West Vernon Avenue Elementary School
Public,•K-5•0.3mi
2/10
Marguerite Poindexter Lamotte Elementary
Public,•K-5•0.4mi
/10
Dr. James Edward Jones Primary Center
Public,•K-2•0.6mi
3/10
Fifty-Second Street Elementary School
Public,•K-5•0.8mi
3/10
Normandie Avenue Elementary School
Public,•K-5•0.8mi
3/10
Trinity Street Elementary School
Public,•K-5•0.9mi
/10
Maple Primary Center
Public,•K-1•1.0mi
2/10
Main Street Elementary School
Public,•K-5•1.1mi
2/10
Martin Luther King Jr. Elementary School
Public,•K-5•1.3mi
2/10
Western Avenue Elementary School
Public,•K-5•1.6mi
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•2.3mi
3/10
Sixth Avenue Elementary School
Public,•K-5•2.6mi
3/10
William Jefferson Clinton Middle School
Public,•6-8•0.9mi
2/10
Barack Obama Global Preparation Academy
Public,•6-8•1.5mi
2/10
John Muir Middle School
Public,•6-8•1.5mi
3/10
Los Angeles Academy Middle
Public,•6-8•1.7mi
2/10
Audubon Middle School
Public,•6-8•2.6mi
1/10
Horace Mann Junior High School
Public,•6-8•2.6mi
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•1.5mi
3/10
Nava College Preparatory Academy
Public,•9-12•1.9mi
5/10
Santee Education Complex
Public,•9-12•2.0mi
1/10
Crenshaw Science, Technology, Engineering, Math And Medicine Magnet
Public,•9-12•2.6mi
Price History
Date
Event
Price
04/07/22
Sold
$1,465,000
01/28/20
Sold
$1,350,000
01/18/19
Sold
$635,000
Condition Rating
Poor
The property was built in 1924, making it 100 years old. The complete absence of interior photos, particularly of the kitchen and bathrooms, is a strong indicator that these areas are severely outdated and likely in poor condition, requiring substantial repairs and modernization. The exterior, while appearing maintained, clearly shows its age. The property analysis explicitly notes the 'Advanced Age of Property' and the 'need for significant capital expenditure on renovations and modernization' due to potential outdated systems (plumbing, electrical, HVAC). While currently tenant-occupied, suggesting basic functionality, the interior condition is almost certainly far from modern standards and would require extensive rehabilitation.
Pros & Cons
Pros
Income-Generating Triplex: The property is a triplex with existing tenants, providing immediate rental income and a strong investment foundation.
Exceptional Central Location: Centrally located minutes from Downtown Los Angeles, within walking distance to USC, major stadiums (Coliseum, BMO), museums, Exposition Park, and the Expo Line, ensuring high rental demand.
Excellent Freeway Accessibility: Easy access to the 10, 105, and 110 freeways, offering quick commutes to key employment centers and attractions across the greater Los Angeles area.
Significant ADU Potential: The property boasts plenty of backyard space to add an Accessory Dwelling Unit (ADU), which can substantially increase rental income and overall property value.
Motivated Seller & Price Adjustment: The seller is 'VERY MOTIVATED' and has already reduced the price, indicating potential for negotiation and a favorable acquisition.
Cons
Advanced Age of Property: Built in 1924, the property is nearly a century old, suggesting potential for outdated systems (plumbing, electrical, HVAC) and the need for significant capital expenditure on renovations and modernization.
Potential for Below-Market Rents: The description notes 'reasonable rents,' which may imply current rents are below market value, potentially limiting immediate income optimization without tenant turnover or navigating rent control regulations.
Aggressive Pricing Relative to Recent Sales: The current list price of $1.7M is notably higher than the last recorded sale price of $1.465M in 2022, which may require strong justification or recent significant improvements to support the valuation.