631 Leonard Avenue, Los Angeles, California 90022, Los Angeles, 90022 - 5 bed, 3 bath

631 Leonard Avenue, Los Angeles, California 90022 home-pic-0
ACTIVE$785,000
631 Leonard Avenue, Los Angeles, California 90022
5Beds
3Baths
1,960Sqft
5,429Lot
Year Built
1927
Close
-
List price
$785K
Original List price
$800K
Price/Sqft
$401
HOA
-
Days on market
-
Sold On
-
MLS number
PW25000866
Home ConditionPoor
Features
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $785.0K(41th), sqft - 1960(47th), beds - 5(82th), baths - 3(82th).

Incredible Investment Opportunity – Duplex with Tremendous Potential! This duplex offers a blank canvas for those with a vision! Located across from an elementary school and within walking distance to a middle school, this property is in a highly desirable location. The property is also within easy walking distance to shopping centers and restaurants, making it perfect for both families and renters. Sold as-is, the property requires extensive renovations, but it offers significant potential for the right buyer. 5 Bedrooms (total across both units)Tax records show as 6 bedrooms 2 Full Bathrooms + 1 Quarter Bath Prime location: Across from an elementary school, walking distance to middle school, shopping, and restaurants Cash offers only – no financing available due to the extensive work required Owners will not make any repairs – sold in its current condition This property needs significant repairs, but for the right buyer, the potential is endless. Whether you’re looking to flip, renovate for long-term rental income, or create your dream home, this duplex is packed with possibilities. Don’t miss out on this chance to invest in a location that has it all! * Front unit address 631 Leonard Ave Back unit address 629 Leonard Ave ** Title only shows both units as 631 Leonard Ave**

Condition Rating
Poor

Built in 1927, this property explicitly requires 'extensive renovations' and 'significant repairs.' The listing states it's sold 'as-is' with no repairs from the owner and requires 'cash offers only' due to the work needed, indicating it's not eligible for traditional financing. This points to severely outdated and likely non-functional kitchens, bathrooms, and major systems, necessitating substantial rehabilitation to be habitable and meet current standards.
Pros & Cons

Pros

Income-Generating Asset: As a duplex, the property offers immediate potential for rental income from two units, appealing to investors seeking cash flow or multi-generational living.
Highly Desirable Location: Strategically located across from an elementary school and within walking distance to a middle school, shopping centers, and restaurants, enhancing its appeal to families and renters.
Significant Investment Upside: Marketed as an 'Incredible Investment Opportunity' with 'tremendous potential' for value appreciation through renovation, suitable for flipping, long-term rentals, or creating a custom home.
Versatile Redevelopment Options: The 'blank canvas' nature allows for diverse strategies, from a full renovation for optimized rental income to a complete transformation into a personalized owner-occupied residence.
Favorable Unit Configuration: With 5 total bedrooms (and tax records indicating 6), the property offers a robust unit count for a duplex, maximizing potential rental yield or accommodating larger families.

Cons

Extensive Renovation Required: The property explicitly needs 'extensive renovations' and 'significant repairs,' indicating a substantial financial and time commitment for the buyer to bring it to modern standards.
Cash-Only Transaction: The requirement for 'cash offers only' due to the property's condition severely restricts the buyer pool and implies the property is not eligible for conventional financing in its current state.
As-Is Sale with No Seller Repairs: Being sold 'as-is' with owners unwilling to make any repairs places the entire burden of all necessary improvements and associated costs squarely on the buyer, increasing upfront risk.

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