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$1,149,000

Beds
5
sq ft
2,529

1677 W 24th St, Los Angeles, CA 90007

1677 W 24th St

Los Angeles, CA 90007

  • 40 days on market
Prime Location Triplex Income Property, Ideal for Owner-Occupant or Investors. This beautifully crafted triplex offers a unique investment opportunity in one of the most sought-after neighborhoods in Los Angeles. Nestled between the vibrant culture of Koreatown, the bustling energy of Downtown LA, and the academic pulse of USC. This property presents a rare combination of prime location, quality craftsmanship, and steady rental income potential. Craftsman-style design, with stunning details including built-in cabinetry, hardwood floors, and large windows that allow natural light to pour in. Unit 3 Upstairs (Vacant): 3BD 1 BA, Spacious and ready for immediate move-in, this unit offers a perfect opportunity for an owner-occupant to enjoy comfortable living while generating rental income from the other two units. Unit 1 & Unit 2 (Occupied):, Both 1BD 1 BA units are currently occupied by responsible tenants who consistently pay rent on time, offering a steady cash flow. These tenants take great care of the property, ensuring low turnover and minimal maintenance. Ideal for Owner-Occupants: With one unit currently vacant, this property is perfect for an owner who wants to live in one unit while enjoying the additional income from the other two. It's an excellent way to offset living expenses, with the potential for long-term financial growth. Huge backyard that can easily accommodate up to six parking spaces, a rare find in this neighborhood. The expansive outdoor space offers endless possibilities for future development. Prime Location: Just minutes from UCS, making it an ideal location for students or faculty. Koreatown is a vibrant cultural hub filled with dining, shopping, and entertainment. A short drive to Downtown LA, offering easy access to the city's business, arts, and entertainment districts. Close to major highways and public transportation, ensuring convenience for tenants and owner-occupants alike. This triplex offers more than just a comfortable living space it's a sound investment opportunity in one of LA's most rapidly appreciating areas. With steady, reliable tenants and the ability to generate additional income from the vacant unit, this property is poised for long-term growth. Don't miss out on this rare opportunity to own a beautifully crafted income property in a prime location with unbeatable potential. Whether you're an investor or looking for a home with income-generating capabilities, this triplex is a must-see! Motivated seller!

Details

Property type

Est. home value

$1,057,387

Lot size

6,764 sq ft

Price per sq ft

$455

Year built

1906

HOA

No

Price History

12/12/2024
CLAW

CLAW #24463003

Listed
$1,149,000
12/05/2024
CLAW

CLAW #24463003

Removed
$1,149,000
11/12/2024
CLAW

CLAW #24463003

Listed
$1,149,000
+8.4%

Schools & Community

Neighborhood: 

Adams-Normandie

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$308,776
Asking price
$1,149,000
Closing costs (~8% of asking)
-$91,920
Est. remaining loan balance
-$748,304
Cash to seller
$308,776

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Sk Global Investment Inc

Loan start date

February 2022

Original loan amount

$795,000

Est. remaining balance

$748,304

Interest rate

3.22%

Loan type

New Conventional, 30 year

Seller

Chan Woo Kim and Nari Lee

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 12/23/2024 at 3:45 AM

Listing updated: 12/11/2024 at 8:45 PM

Listed by: Janice Jeong Lee, Dream Realty & Investments Inc Phone #: (213) 380-8949

MLS: CLAW #24463003

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