622 E 24th Street, Los Angeles, California 90011, Los Angeles, - bed, bath

home-pic
ACTIVE$749,900
622 E 24th Street, Los Angeles, California 90011
0Bed
0Bath
1,232Sqft
4,580Lot
Year Built
1890
Close
-
List price
$750K
Original List price
$750K
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
DW24194100
Home ConditionPoor
Features
View-

About this home

LOCATION! This exceptional property is situated in a prime location in Los Angeles, just a stone’s throw away from the University of Southern California (USC), Exposition Park, and various renowned museums. The proximity to downtown Los Angeles enhances its appeal, making it an ideal investment opportunity for those seeking to capitalize on the vibrant urban lifestyle and cultural offerings of the area. The neighborhood boasts excellent accessibility to public transportation, shopping centers, dining options, and recreational facilities. The property consists of two units, each with distinct characteristics that cater to different living arrangements or investment strategies, for the front unit features three bedrooms and one bathroom. It is designed to accommodate larger families or groups looking for more space. This unit will be delivered vacant at the close of escrow, providing immediate flexibility for new owners, Section 8 pays for a 3 Bed $3,915, on title front unit shows like a 2 Bed/1 Bath, the second unit comprises two bedrooms and one bathroom, tenant pays $1,300 - section 8 Pays $3,052, It offers a cozy living environment suitable for smaller families or individuals seeking a comfortable home near USC and downtown Los Angeles. Both units are titled separately, allowing for various ownership possibilities such as live-in arrangements or rental opportunities. While both unit requires some exterior work, it presents an excellent opportunity for buyers to enhance its curb appeal and overall value. The current tenants have resided in the rear unit for over 20 years and have demonstrated kindness by maintaining the interior of their home. Their long-term presence indicates stability within the property, which can be appealing to prospective buyers who value tenant reliability, the exterior work needed can be viewed as an opportunity for improvement rather than a drawback; it allows new owners to customize the property according to their vision while potentially increasing its market value. Professional photos coming soon.

Nearby schools

3/10
Twenty-Eighth Street Elementary School
Public,K-50.3mi
5/10
Dolores Huerta Elementary School
Public,K-50.5mi
5/10
San Pedro Street Elementary School
Public,K-50.5mi
4/10
Quincy Jones Elementary School
Public,K-50.6mi
5/10
Twentieth Street Elementary School
Public,K-50.7mi
/10
Maple Primary Center
Public,K-10.8mi
3/10
Trinity Street Elementary School
Public,K-50.9mi
4/10
Ricardo Lizarraga Elementary School
Public,K-51.0mi
3/10
Wadsworth Avenue Elementary School
Public,K-51.0mi
2/10
Harmony Elementary School
Public,K-51.1mi
4/10
Nevin Avenue Elementary School
Public,K-51.2mi
4/10
Norwood Street Elementary School
Public,K-51.3mi
3/10
Sally Ride Elementary: A Smart Academy
Public,K-51.5mi
5/10
West Vernon Avenue Elementary School
Public,K-51.7mi
2/10
Forty-Ninth Street Elementary School
Public,K-51.7mi
2/10
John W. Mack Elementary School
Public,K-51.8mi
5/10
Menlo Avenue Elementary School
Public,K-51.9mi
2/10
Marguerite Poindexter Lamotte Elementary
Public,K-52.1mi
/10
Dr. James Edward Jones Primary Center
Public,K-22.4mi
4/10
John Adams Middle School
Public,6-80.6mi
3/10
William Jefferson Clinton Middle School
Public,6-80.9mi
2/10
Dr. Julian Nava Learning Academies-School Of Business And Technology
Public,6-80.9mi
3/10
George Washington Carver Middle School
Public,6-81.4mi
2/10
John Muir Middle School
Public,6-83.1mi
2/10
Barack Obama Global Preparation Academy
Public,6-83.1mi
5/10
Santee Education Complex
Public,9-120.4mi
3/10
Nava College Preparatory Academy
Public,9-121.1mi
2/10
Thomas Jefferson Senior High School
Public,9-121.2mi
4/10
West Adams Preparatory High School
Public,9-122.0mi
3/10
Manual Arts Senior High School
Public,9-122.0mi

Price History

Date
Event
Price
07/21/21
Sold
$560,000
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (23 Listings)
Beds00
Baths00
Square foot1,2321,988
13%
Lot Size4,5805,364
8%
Price$750K$710K
58%
Price per square foot$609$348.5
88%
Built year18909610962
4%
HOA
Days on market394178
96%
Condition Rating
Poor

The property was built in 1890 and requires exterior work. While the rear unit is maintained, the overall condition suggests substantial repairs are needed. The age of the property indicates that major components are likely outdated and may require replacement. The images show an outdated kitchen and bathroom, further supporting the 'poor' condition assessment.
Pros & Cons

Pros

Prime Location: Located near USC, Exposition Park, and downtown Los Angeles, offering convenient access to cultural attractions, universities, and urban amenities.
Income Potential: The property features two units, providing immediate rental income potential, with one unit to be delivered vacant for flexible ownership options.
Section 8 Income: Both units have Section 8 tenants, providing a reliable and consistent income stream.

Cons

Exterior Work Required: The property requires some exterior work, which may involve additional costs for renovation and maintenance.
Age of Property: Built in 1890, the property may require ongoing maintenance and potential upgrades due to its age.

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