824 Laveta, Los Angeles, California 90026, Los Angeles, 90026 - bed, bath
ACTIVE$899,900
824 Laveta, Los Angeles, California 90026
0Bed
0Bath
1,000Sqft
7,470Lot
Year Built
1920
Close
-
List price
$900K
Original List price
$1,000K
Price/Sqft
$900
HOA
-
Days on market
-
Sold On
-
MLS number
DW25065049
Home ConditionPoor
Features
Good View:
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $899.9K(45th), sqft - 1000(9th), beds - undefined(50th), baths - undefined(50th).
Price Improvement!Opportunity Knocks! This is one of kind property in prime location, existing rental income, and development potential makes 824 Laveta Terrace a compelling investment opportunity. Whether aiming to enhance the current rental units or you can build yourself a home with rental opportunity, you can capitalize on the property's inherent value and the ongoing demand for quality housing in the Echo Park area.
Nearby schools
4/10
Betty Plasencia Elementary School
Public,•K-6•0.4mi
5/10
Rosemont Avenue Elementary School
Public,•K-5•0.7mi
/10
Lake Street Primary School
Public,•K-1•0.9mi
3/10
Gratts Learning Academy For Young Scholars (Glays)
Public,•K-6•1.0mi
2/10
Mayberry Street Elementary School
Public,•K-6•1.0mi
6/10
Castelar Street Elementary School
Public,•K-5•1.1mi
8/10
Clifford Street Elementary School
Public,•K-6•1.2mi
3/10
Elysian Heights Elementary School
Public,•K-6•1.3mi
7/10
Solano Avenue Elementary School
Public,•K-6•1.4mi
5/10
Micheltorena Street Elementary School
Public,•K-5•1.6mi
7/10
Dorris Place Elementary School
Public,•K-6•1.7mi
8/10
Allesandro Elementary School
Public,•K-6•2.1mi
2/10
Logan Street Elementary School
Public,•K-8•0.5mi
3/10
Sal Castro Middle School
Public,•6-8•0.8mi
5/10
Virgil Middle School
Public,•6-8•2.0mi
6/10
Thomas Starr King Middle School
Public,•6-8•2.2mi
5/10
Florence Nightingale Middle School
Public,•6-8•2.4mi
6/10
Irving STEAM Magnet
Public,•6-8•3.3mi
3/10
Belmont Senior High School
Public,•9-12•0.8mi
8/10
John Marshall Senior High School
Public,•9-12•2.8mi
Price History
Date
Event
Price
07/22/21
Sold
$600,000
Condition Rating
Poor
Built in 1920, this property is over a century old and shows significant signs of age and deferred maintenance. The images reveal extremely dated and worn conditions in both the kitchen and bathroom, which appear to be original or last updated many decades ago. The kitchen features old white appliances, dated cabinets, and linoleum flooring, while the bathroom has a pedestal sink, old toilet, and basic, aged tiling. The overall interior is very basic, with worn hardwood floors and a visible window AC unit, suggesting outdated HVAC systems. The listing description itself highlights 'development potential' and the need to 'enhance the current rental units,' explicitly indicating that substantial repairs and rehabilitation are required to bring the property to modern standards. This aligns with the 'poor' condition criteria, as major components likely require extensive replacement or upgrades.
Pros & Cons
Pros
Prime Location: Situated in the highly desirable Echo Park area of Los Angeles, offering strong demand and potential for appreciation.
Income-Generating Property: As a triplex with existing rental income, it presents an immediate investment opportunity for cash flow.
Development Potential: The property description highlights significant development potential, allowing for enhancement of current units or building a new home with rental opportunities.
Significant Price Improvement: A recent price reduction from $999,900 to $899,900 makes the property more attractive and competitive in the market.
Generous Lot Size: The 7,470 sqft lot provides ample space for potential expansion, additional units, or outdoor amenities, enhancing its long-term value.
Cons
Advanced Age of Property: Built in 1920, the property is over a century old, likely requiring significant updates to plumbing, electrical, and other systems to meet modern standards.
Small Total Square Footage: With only 1,000 sqft for a triplex, the individual units are likely very small, which could limit rental income potential or appeal to certain tenant demographics.
Potential for Extensive Renovation: Given its age and the implied development potential, buyers should anticipate substantial capital investment for renovations and upgrades to maximize its value and functionality.