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8315 Miramonte Boulevard, Los Angeles, California 90001, Los Angeles, 90001 - bed, bath

8315 Miramonte Boulevard, Los Angeles, California 90001 home-pic-0
ACTIVE$1,099,000
8315 Miramonte Boulevard, Los Angeles, California 90001
0Bed
0Bath
2,976Sqft
6,058Lot
Year Built
1965
Close
-
List price
$1.1M
Original List price
$1.5M
Price/Sqft
$369
HOA
-
Days on market
-
Sold On
-
MLS number
PW24170059
Home ConditionFair
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.10M(93th), sqft - 2976(93th), beds - undefined(50th), baths - undefined(50th).

Welcome to an incredible investment opportunity! This property is in Unincorporated LA County. Consisting of four units, each featuring 2 bedrooms and 1 bathroom, this property promises both comfort and value. The common space within the property is thoughtfully designed, providing atmosphere for all residents. With well-maintained units, this ensures a hassle-free investment experience. One of the standout features of this property is its commitment to quality. All units boast recently renovated bathrooms, adding a modern touch to the living spaces. The entire property benefits from a brand-new roof, installed in June 2023, ensuring durability and long-term stability. Two of the units have undergone a complete transformation and are fully renovated with new kitchen counters and cabinets, new flooring throughout, updated bathrooms with new vanities and bathtubs, new interior doors and paint throughout. This unit is not just a property; it's an investment in both present comfort and future returns. Don't miss out on this extraordinary opportunity to acquire a unit that combines functionality, aesthetics, and financial promise. Act now and secure your stake in this thriving real estate venture!

Price History

Date
Event
Price
12/27/13
Sold
$450,000
12/08/10
Sold
$290,000
02/14/02
Sold
$270,000
09/04/01
Sold
$230,000
05/22/01
Sold
$280,019
Condition Rating
Fair
The property, built in 1965, presents a mixed condition. While it benefits from a brand-new roof installed in June 2023 and two of the four units have undergone a complete, modern renovation with new kitchens (white shaker cabinets, light counters, basic appliances), updated bathrooms (new vanities, tubs, tile), and new laminate flooring, the other two units remain significantly outdated. Images reveal older kitchens with original-style wood cabinets, laminate counters, and older appliances, as well as bathrooms with older vanities and tilework. The flooring in these units appears to be older carpet or linoleum. Heating is via wall heaters, typical of older construction. This inconsistency means that while half the property is in good to excellent condition, the other half requires substantial updates to meet current standards, aligning with the 'Fair' category due to the overall age of the structure and the need for significant renovation in two of the units.
Pros & Cons

Pros

Multi-Unit Income Property: As a quadruplex, the property offers diversified rental income streams, reducing vacancy risk and enhancing cash flow potential for investors.
Extensive Recent Capital Improvements: A brand-new roof installed in June 2023 and recently renovated bathrooms across all units significantly reduce immediate capital expenditure for a new owner.
Partially Turnkey Units: Two of the four units have undergone a complete transformation with new kitchens, flooring, and paint, making them highly attractive to tenants and potentially commanding premium rents.
Significant Price Adjustment: The list price has been substantially reduced from $1,499,000 to $1,099,000, indicating a motivated seller and a potential value-add acquisition opportunity.
Investment Focus: The property is explicitly positioned as an 'incredible investment opportunity' promising 'future returns,' aligning with its income-generating nature.

Cons

Age of Property & System Integrity: Built in 1965, while cosmetic and some major updates are noted, the age of the property suggests potential for original or aging core systems (e.g., plumbing, electrical) that may require future maintenance or upgrades.
Inconsistent Unit Modernization: Only two of the four units are fully renovated, which could lead to disparities in tenant appeal, rental rates, and future renovation costs for the remaining two units.
Unincorporated County Location: Being in Unincorporated LA County may present unique regulatory or service considerations, and could potentially imply a less established or desirable sub-market compared to prime Los Angeles neighborhoods, impacting tenant pool or appreciation.

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