823 W 81st Street, Los Angeles, California 90044, Los Angeles, 90044 - bed, bath
ACTIVE$1,400,000
823 W 81st Street, Los Angeles, California 90044
0Bed
0Bath
1Sqft
9,304Lot
Year Built
1923
Close
-
List price
$1.4M
Original List price
$1.6M
Price/Sqft
$1,400,000
HOA
-
Days on market
-
Sold On
-
MLS number
OC25224460
Home ConditionFair
Features
Patio
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.40M(94th), sqft - 1(6th), beds - undefined(50th), baths - undefined(50th).
Prime 5-Unit Investment Property for Sale! Don't miss this incredible opportunity to own a well-maintained 5-unit multi-family property/Commercial in a desirable location. Perfect for investors seeking strong rental income. Conveniently located near major highways, ensuring high tenant demand. This Property features brand-new flooring throughout and two units with newly installed cabinets. The Property does come with 5 Parking Spaces. Whether you're looking to expand your portfolio or start investing in real estate, this property offers great potential and long-term value. Contact us today for more details or to schedule a private showing!
Nearby schools
/10
Danny J. Bakewell, Sr., Primary Center
Public,•K•0.5mi
4/10
Manchester Avenue Elementary School
Public,•1-6•0.5mi
3/10
Raymond Avenue Elementary School
Public,•K-5•0.7mi
2/10
Gerald A. Lawson Academy Of The Arts, Mathematics And Science
Public,•K-6•0.8mi
4/10
Sixty-Eighth Street Elementary School
Public,•K-6•0.9mi
3/10
Seventy-Fifth Street Elementary School
Public,•K-6•1.0mi
2/10
Dr. Owen Lloyd Knox Elementary School
Public,•K-6•1.1mi
3/10
La Salle Avenue Elementary School
Public,•K-5•1.2mi
3/10
Loren Miller Elementary School
Public,•K-6•1.6mi
2/10
Bret Harte Preparatory Middle School
Public,•6-8•1.0mi
2/10
Mary Mcleod Bethune Middle School
Public,•6-8•1.2mi
2/10
John Muir Middle School
Public,•6-8•1.5mi
1/10
Horace Mann Junior High School
Public,•6-8•1.5mi
3/10
John C. Fremont Senior High School
Public,•9-12•1.1mi
2/10
Augustus F. Hawkins High A Critical Design And Gaming
Public,•9-12•1.4mi
2/10
George Washington Preparatory High School
Public,•9-12•2.2mi
9/10
Middle College High School
Public,•9-12•3.5mi
Price History
Date
Event
Price
09/25/25
Price Change
$1,400,000
09/24/25
Listing
$1,600,000
Condition Rating
Fair
The property was built in 1923, making it very old. While the listing mentions 'brand-new flooring throughout' and 'two units with newly installed cabinets,' the images reveal that other kitchens still have older wood cabinets and all units feature older white appliances. Bathrooms are basic and functional but not modern. The exterior shows significant age, and cooling appears to be via window AC units. The updates are primarily cosmetic and functional for tenants, but not extensive enough to modernize the entire property or all units. Major systems are likely original or very old, showing signs of being outdated, aligning with the 'fair' condition criteria.
Pros & Cons
Pros
Multi-Unit Investment Opportunity: The property is explicitly marketed as a 'Prime 5-Unit Investment Property' and 'multi-family property/Commercial', offering significant potential for strong rental income and portfolio expansion.
Desirable Location & Accessibility: Situated in a 'desirable location' near major highways, ensuring high tenant demand and convenient access for residents.
Recent Cosmetic Upgrades: Features 'brand-new flooring throughout' and 'two units with newly installed cabinets', indicating some modernization and reducing immediate tenant turnover costs for those units.
Dedicated Parking Availability: The inclusion of '5 Parking Spaces' is a valuable amenity in Los Angeles, enhancing tenant appeal and potentially commanding higher rents for a multi-unit property.
Recent Price Reduction: The list price has been reduced from $1.6M to $1.4M, presenting a potential opportunity for buyers to acquire the property at a more competitive entry point.
Cons
Age of Property & Potential Systemic Issues: Built in 1923, the property is over 100 years old, suggesting a high likelihood of aging infrastructure (plumbing, electrical, roof, HVAC) that may require substantial future capital expenditures beyond cosmetic updates.
Incomplete Renovation Scope: While some units have new flooring and cabinets, the description does not detail updates for all five units or major building systems, implying potential deferred maintenance and further investment needed for full modernization.
Data Inconsistencies & Missing Information: The property's square footage is listed as 1 sqft (a clear data error), and there's a discrepancy between the '5-Unit' description and 'Quadruplex' sub-type, making accurate valuation and assessment challenging without further clarification.