645 E 78th Street, Los Angeles, California 90001, Los Angeles, 90001 - bed, bath
ACTIVE$1,099,000
645 E 78th Street, Los Angeles, California 90001
0Bed
0Bath
3,748Sqft
5,099Lot
Year Built
2016
Close
-
List price
$1.1M
Original List price
$1.1M
Price/Sqft
$293
HOA
-
Days on market
-
Sold On
-
MLS number
OC25047015
Home ConditionExcellent
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.10M(93th), sqft - 3748(93th), beds - undefined(50th), baths - undefined(50th).
Turnkey duplex with strong cash flow! Fully remodeled and separately metered, this South LA duplex features two spacious units, each offering 4 bedrooms and 2.5 bathrooms. With approx. 3,748 SF of total living area and updated interiors including wood-style flooring, granite countertops, and stainless steel appliances this is an ideal investment or owner-occupant opportunity. Tenants pay all utilities (gas, electric, water), significantly reducing operating expenses. With projected rents of $3,400–$3,600 per unit, total gross income is estimated at $84,000/year with an adjusted cap rate of ~5.63% at list price. Fully gated lot with 3 car garage. Close to parks, transit, and major freeways. Subject to City of Los Angeles Rent Stabilization Ordinance (RSO). Buyer to verify all information.
Nearby schools
3/10
Mckinley Avenue Elementary School
Public,•K-6•0.2mi
5/10
Wisdom Elementary School
Public,•K-6•0.6mi
3/10
Seventy-Fifth Street Elementary School
Public,•K-6•0.6mi
3/10
South Park Elementary School
Public,•K-6•0.6mi
4/10
Sixty-Sixth Street Elementary School
Public,•K-6•0.8mi
5/10
Russell Elementary School
Public,•K-6•0.9mi
2/10
Dr. Owen Lloyd Knox Elementary School
Public,•K-6•1.1mi
4/10
Sixty-Eighth Street Elementary School
Public,•K-6•1.4mi
3/10
Sixty-First Street Elementary School
Public,•K-6•1.6mi
2/10
Mary Mcleod Bethune Middle School
Public,•6-8•0.8mi
1/10
Charles Drew Middle School
Public,•6-8•1.0mi
3/10
Thomas A. Edison Middle School
Public,•6-8•1.1mi
3/10
Los Angeles Academy Middle
Public,•6-8•1.6mi
3/10
John C. Fremont Senior High School
Public,•9-12•0.4mi
Price History
Date
Event
Price
03/07/17
Sold
$699,000
07/08/16
Sold
$300,000
Condition Rating
Excellent
Built in 2016 and described as 'fully remodeled' with 'updated interiors,' this duplex presents in excellent condition. The images confirm modern aesthetics with wood-style flooring throughout, dark wood cabinets, granite countertops, and stainless steel appliances in the kitchen. Bathrooms feature contemporary vanities, granite countertops, and tiled shower/tub combos with glass enclosures. All visible components appear new or virtually new, showing no signs of deferred maintenance and meeting current quality standards.
Pros & Cons
Pros
Strong Cash Flow & Investment Potential: The property is marketed as a 'turnkey duplex with strong cash flow,' projecting an estimated gross income of $84,000/year and an adjusted cap rate of ~5.63% at list price, making it highly attractive for investors.
Fully Remodeled & Modern Interiors: Both units are fully remodeled with updated interiors, including wood-style flooring, granite countertops, and stainless steel appliances, reducing immediate capital expenditure for the buyer and enhancing tenant appeal.
Separately Metered Utilities: The units are separately metered, and tenants are responsible for all utilities (gas, electric, water), significantly reducing operating expenses for the landlord and maximizing net income.
Spacious Units & Newer Construction: Built in 2016, the property is relatively new, and each unit offers a generous 4 bedrooms and 2.5 bathrooms, appealing to a broad tenant base and commanding good rental income.
Security & Parking Amenities: The property features a fully gated lot and a 3-car garage, providing valuable security, privacy, and ample parking or storage space for tenants.
Cons
Rent Stabilization Ordinance (RSO) Restrictions: The property is subject to the City of Los Angeles Rent Stabilization Ordinance (RSO), which imposes limitations on rent increases and tenant eviction processes, potentially impacting an investor's flexibility and long-term returns.
Mixed School Performance in Immediate Area: While some nearby schools have good ratings, several others in the immediate vicinity have lower performance ratings (e.g., 1s, 2s, and 3s), which could be a deterrent for prospective owner-occupants or tenants with school-aged children.
Absence of Explicit Central Air Conditioning: Despite being fully remodeled, the property description does not explicitly mention central air conditioning, a highly desirable amenity in Los Angeles that could be a drawback for tenants, especially during warmer months.