947 S Sunol Drive, Los Angeles, California 90023, Los Angeles, 90023 - bed, bath
ACTIVE UNDER CONTRACT$1,225,000
947 S Sunol Drive, Los Angeles, California 90023
0Bed
0Bath
3,536Sqft
5,971Lot
Year Built
1973
Close
-
List price
$1.23M
Original List price
$1.23M
Price/Sqft
$346
HOA
-
Days on market
-
Sold On
-
MLS number
PW24108094
Home ConditionPoor
Features
Patio
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.23M(85th), sqft - 3536(85th), beds - undefined(50th), baths - undefined(50th).
GREAT INCOME PROPERTY IN THE CITY OF LOS ANGELES, CA. 4 UNIT PROPERTY: 1ST UNIT: 2 BED, 2 BATH. 2ND UNIT: 2 BED, 1.5 BATH. 3RD UNIT: 2 BED, 1 BATH. 4TH UNIT: 1 BED, 2 BATH. 3 CARPORTS WITH A 1 CAR GARAGE/STORAGE, LARGE DRIVEWAY & STREET PARKING, SPACIOUS PROPERTY WITH LOTS OF POTENCIAL. GREAT OPPORTUNITY FOR INVESTORS OR FIRST-TIME BUYERS, LIVE IN ONE UNIT AND RENT THE REST. CLOSE TO SHOPPING, PARKS, & SCHOOLS. DONT MISS OUT ON THIS GREAT OPPORTUNITY.
Condition Rating
Poor
Built in 1973, this 51-year-old property shows extensive signs of age with no apparent major renovations in decades. The kitchens feature very dated cabinets, laminate countertops, older white appliances, and linoleum flooring. Bathrooms are similarly outdated with old vanities, basic fixtures, and dated tile. Carpets appear old throughout. While functional, the property requires substantial rehabilitation and modernization of all units, including full kitchen and bathroom remodels, and likely updates to major systems, to meet current quality and aesthetic standards.
Pros & Cons
Pros
Strong Income Potential: The property is a quadruplex with four distinct units (2/2, 2/1.5, 2/1, 1/2), offering significant rental income streams and making it an attractive investment asset.
Owner-Occupancy Opportunity: Ideal for first-time buyers or investors, the option to live in one unit and rent out the others provides a unique advantage for offsetting mortgage costs and building equity.
Ample Parking Facilities: With 3 carports, a 1-car garage/storage, a large driveway, and street parking, the property offers highly valuable and sought-after parking solutions in a dense urban environment like Los Angeles.
Desirable Los Angeles Location: Situated in Los Angeles, the property benefits from a robust rental market, strong tenant demand, and convenient proximity to essential amenities including shopping, parks, and schools.
Value-Add Potential: Described as a 'spacious property with lots of potential,' indicating opportunities for future renovations or upgrades to enhance rental income and overall property value.
Cons
Property Age: Built in 1973, the property is over 50 years old, which may necessitate updates to major systems (e.g., plumbing, electrical, HVAC) and could involve deferred maintenance, leading to future capital expenditures.
Active Under Contract Status: The property is currently 'Active Under Contract,' which significantly limits immediate opportunities for new prospective buyers to submit offers or compete for the purchase.
Potential for High Maintenance Costs: As an older, multi-unit property, it is likely to incur higher ongoing maintenance and repair costs compared to newer constructions, which could impact the net operating income for an investor.