857 S Plymouth Boulevard, Los Angeles, California 90005, Los Angeles, 90005 - bed, bath
ACTIVE$5,350,000
857 S Plymouth Boulevard, Los Angeles, California 90005
0Bed
0Bath
14,211Sqft
8,974Lot
Year Built
1990
Close
-
List price
$5.35M
Original List price
$5.35M
Price/Sqft
$376
HOA
-
Days on market
-
Sold On
-
MLS number
SR25099494
Home ConditionGood
Features
View-
About this home
We found 3 Cons,5 Pros.
Great 12 units in a great location. No City Rent Control. This property is being sold together with 5328 Cleon Ave and 4906 Rosewood as part of a Portfolio Sale.
Price History
Date
Event
Price
05/06/25
Listing
$5,350,000
04/26/16
Sold
$5,350,000
03/29/00
Sold
$1,112,500
Condition Rating
Good
The property, built in 1990, shows clear signs of recent and significant interior renovations. The kitchen features modern white shaker-style cabinets, stainless steel appliances (gas range, refrigerator), and updated countertops. New, light-toned laminate or LVP flooring is consistent throughout the visible units, and walls are freshly painted in a neutral color. Light fixtures, including recessed lighting and a modern ceiling fan, have also been updated. While the building's exterior appears well-maintained, and the interior units are move-in ready with no immediate renovation required, the overall age of the structure (34 years) and the absence of details or images for bathrooms and major systems (HVAC, plumbing, electrical) prevent an 'Excellent' rating. However, the extensive visible updates place it firmly in the 'Good' category, indicating a well-maintained property with recent, appealing improvements.
Pros & Cons
Pros
Significant Unit Count: The property features 12 units, offering substantial rental income potential and scale for an investor.
Prime Los Angeles Location: Situated in the desirable Hancock Park-Wilshire area (MLS Area C18), ensuring strong tenant demand and potential for long-term appreciation.
Exempt from City Rent Control: A critical advantage in the Los Angeles market, allowing for greater flexibility in rent adjustments and maximizing investment returns.
Relatively Modern Construction: Built in 1990, the property is newer than many multi-family assets in Los Angeles, potentially reducing immediate capital expenditure needs compared to older buildings.
Portfolio Investment Opportunity: Being part of a larger portfolio sale (with two other properties) appeals to sophisticated investors seeking to acquire multiple income-producing assets simultaneously, potentially streamlining acquisition and offering economies of scale.
Cons
Mandatory Portfolio Acquisition: The requirement to purchase this property as part of a larger portfolio significantly narrows the buyer pool, excluding investors interested only in this specific asset.
Lack of Detailed Financials/Unit Information: The listing description provides no specifics on current rents, occupancy rates, unit mix, or operating expenses, which are crucial for investor due diligence and valuation.
Potential for Deferred Maintenance/Capital Expenditures: While built in 1990, the property is over 30 years old, suggesting that major systems (e.g., roof, plumbing, electrical, HVAC) may be original and nearing the end of their useful life, potentially requiring significant future investment.