1021 W 48th, Los Angeles, California 90037, Los Angeles, 90037 - bed, bath
PENDING$699,000
1021 W 48th, Los Angeles, California 90037
0Bed
0Bath
2,096Sqft
7,470Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Strong Investment Potential: Explicitly marketed as an 'investor opportunity' with 'value-add potential' in an 'up-and-coming neighborhood,' indicating high upside for appreciation and return on investment.
Top Cons:
MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =7470, other record lot size in square feet = 1000.
Compared to the nearby listings
Price:$699.0K vs avg $925.0K ($-226,000)22%
Size:2,096 sqft vs avg 2,484 sqft43%
Price/sqft:$333 vs avg $35148%
More Insights
Built in 1923 (102 years old).
Condition: Built in 1923, this property is over 100 years old and shows significant signs of age and neglect. The MLS description explicitly states it 'needs cosmetic upgrades, a potential floor plan reconfiguration, and possibly a new roof,' and highlights 'Age-Related System Concerns.' The images confirm this, showcasing severely outdated and dilapidated kitchens with old cabinets, worn countertops, dated tiles, and no modern appliances. Bathrooms are equally outdated with old fixtures and tiles. Flooring is a mix of worn hardwood, old laminate, and very worn carpet/linoleum. Walls have peeling paint and visible damage throughout. This property requires substantial repairs and rehabilitation, including major system replacements, making it uncomfortable and potentially unsafe for immediate occupancy. It is clearly a major renovation project, not a tear-down, but far from livable in its current state.
Year Built
1923
Close
-
List price
$699K
Original List price
$699K
Price/Sqft
$333
HOA
-
Days on market
-
Sold On
-
MLS number
RS25259301
Home ConditionPoor
Features
View-
About this home
Investor opportunity in the heart of Vermont Square! This Craftsman-style home offers 7 bedrooms and 2 bathrooms across 2,096 sq. ft. of living space, situated on a 6,470 sq. ft. lot. The property is legally a duplex that was converted into a single-family residence at an unknown time, creating a spacious floor plan with one bedroom upstairs and the rest on the main level. The home includes a driveway and garage, plus an additional parcel directly behind the property (APN: 5017-029-043, 1,000 sq. ft.) which is included in the sale. The property needs cosmetic upgrades, a potential floor plan reconfiguration, and possibly a new roof, making it an ideal project for investors seeking value-add potential. Zoned LAR1 and delivered vacant, this home is ready for its next chapter. Conveniently located near USC, Exposition Park, and major freeways, this is a prime opportunity in an up-and-coming neighborhood.
Nearby schools
/10
Dr. James Edward Jones Primary Center
Public,•K-2•0.0mi
2/10
Marguerite Poindexter Lamotte Elementary
Public,•K-5•0.3mi
3/10
Normandie Avenue Elementary School
Public,•K-5•0.4mi
3/10
Fifty-Second Street Elementary School
Public,•K-5•0.4mi
5/10
Menlo Avenue Elementary School
Public,•K-5•0.6mi
5/10
West Vernon Avenue Elementary School
Public,•K-5•0.8mi
2/10
Western Avenue Elementary School
Public,•K-5•1.0mi
2/10
Main Street Elementary School
Public,•K-5•1.2mi
2/10
Martin Luther King Jr. Elementary School
Public,•K-5•1.2mi
3/10
Trinity Street Elementary School
Public,•K-5•1.5mi
/10
Maple Primary Center
Public,•K-1•1.6mi
3/10
Angeles Mesa Elementary School
Public,•K-5•1.7mi
2/10
Forty-Second Street Elementary School
Public,•K-5•1.7mi
2/10
Tom Bradley Global Awareness Magnet School
Public,•K-5•2.0mi
3/10
Sixth Avenue Elementary School
Public,•K-5•2.5mi
2/10
John Muir Middle School
Public,•6-8•0.9mi
2/10
Barack Obama Global Preparation Academy
Public,•6-8•1.0mi
3/10
William Jefferson Clinton Middle School
Public,•6-8•1.6mi
3/10
Los Angeles Academy Middle
Public,•6-8•1.8mi
1/10
Horace Mann Junior High School
Public,•6-8•2.0mi
2/10
Audubon Middle School
Public,•6-8•2.2mi
3/10
Manual Arts Senior High School
Public,•9-12•0.6mi
2/10
Augustus F. Hawkins High A Critical Design And Gaming
Public,•9-12•1.0mi
1/10
Crenshaw Science, Technology, Engineering, Math And Medicine Magnet
Public,•9-12•2.1mi
3/10
Nava College Preparatory Academy
Public,•9-12•2.5mi
5/10
Santee Education Complex
Public,•9-12•2.6mi
Condition Rating
Poor
Built in 1923, this property is over 100 years old and shows significant signs of age and neglect. The MLS description explicitly states it 'needs cosmetic upgrades, a potential floor plan reconfiguration, and possibly a new roof,' and highlights 'Age-Related System Concerns.' The images confirm this, showcasing severely outdated and dilapidated kitchens with old cabinets, worn countertops, dated tiles, and no modern appliances. Bathrooms are equally outdated with old fixtures and tiles. Flooring is a mix of worn hardwood, old laminate, and very worn carpet/linoleum. Walls have peeling paint and visible damage throughout. This property requires substantial repairs and rehabilitation, including major system replacements, making it uncomfortable and potentially unsafe for immediate occupancy. It is clearly a major renovation project, not a tear-down, but far from livable in its current state.
Pros & Cons
Pros
Strong Investment Potential: Explicitly marketed as an 'investor opportunity' with 'value-add potential' in an 'up-and-coming neighborhood,' indicating high upside for appreciation and return on investment.
Duplex Zoning & Income Flexibility: Legally zoned as a duplex, offering significant flexibility for conversion back to a multi-unit property for rental income or multi-generational living arrangements.
Prime & Convenient Location: Situated in the 'heart of Vermont Square,' providing excellent access to USC, Exposition Park, and major freeways, enhancing desirability and future growth.
Generous Lot Size with Additional Parcel: A combined lot size of 7,470 sq. ft. (6,470 sq. ft. main parcel + 1,000 sq. ft. additional parcel) offers ample space for expansion, landscaping, or potential ADU development.
Delivered Vacant: The property is delivered vacant, eliminating the complexities and costs associated with tenant relocation and allowing for immediate renovation or occupancy.
Cons
MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =7470, other record lot size in square feet = 1000.
Extensive Renovation Needs: The property requires significant cosmetic upgrades, potential floor plan reconfiguration, and possibly a new roof, indicating substantial capital investment and project management.
Uncertainty of Prior Conversion: The conversion from a legal duplex to a single-family residence at an 'unknown time' could present challenges with permitting, code compliance, or structural integrity during future renovations.
Age-Related System Concerns: Built in 1923, the property likely has original or outdated systems (plumbing, electrical, HVAC) that may require full replacement, adding to renovation costs and complexity.