1023 S Wilton Place, Los Angeles, California 90019, Los Angeles, 90019 - 7 bed, 7 bath
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Los Angeles, California 90019
This High-Income Residential Asset is a High-Potential Investment Opportunity, listed at $1,390,000—positioned below the $1,416,558 Fair Market Value by 1%. This valuation gap offers $26,558 in Instant Equity. Currently operating as a boarding house with a Condition Rating of 3, the property features a versatile 7-bedroom, 7-bathroom layout, solar panels, and a detached studio generating up to $8,700 monthly. Located in Koreatown near highly-rated schools, it balances immediate cash flow with long-term energy efficiency. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1023 S Wilton Place Subject | $1,390,000* List Price | 7 | 7 | 2,660 | $533 | - |
A 1023 S Wilton Place Active | $1,390,000 List Price | 7 | 7 | 2,660 | $523 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While originally built in 1917, the property has undergone significant interior renovations that make it move-in ready. The kitchen features modern white shaker-style cabinetry, stainless steel appliances, and updated countertops and backsplashes. The interior boasts consistent contemporary laminate or vinyl plank flooring, fresh paint, and updated light fixtures. The addition of solar panels and the well-maintained appearance of the living spaces suggest that major systems have been updated or well-kept, though the 'as-is' sale and high-occupancy use prevent an 'excellent' rating.
Currently operating as a boarding house generating $6,000 monthly with a potential for $8,700, this property offers immediate cash flow and a high-density 7-bedroom, 7-bathroom configuration ideal for co-living investors.
The home features a separate second-floor entrance with its own kitchen and a detached garage converted into a studio, providing excellent flexibility for multi-generational living or maximizing rental streams.
Equipped with solar panels for long-term energy efficiency and a large 7,955 sqft lot that includes a gated carport and ample driveway parking, which is a significant premium in the dense Koreatown area.
Built in 1917 and sold in its current condition, the property may require substantial capital investment for repairs or modernization to address the wear and tear of a high-occupancy boarding house.
The majority of assigned public schools, including the local elementary and high schools, carry low performance ratings, which may limit the property's appeal to traditional owner-user families.
Centrally located property offering immediate rental income with the option for vacancy at closing. A prime opportunity for investors or owner users in the heart of Koreatown. This spacious 7 bedroom, 7 bathroom home on a 7,955 sqft lot offers excellent flexibility for both owner users and investors. Ideally located near major markets, trendy restaurants, and shopping destinations, the property sits in one of Los Angeles' most convenient and vibrant neighborhoods. The current owner operates the property as a boarding house, renting out private bedrooms and generating approximately $6000 per month, with the potential to earn over $8700 monthly when fully leased. Each bedroom includes its own bathroom, providing comfort and privacy for every occupant. The second floor has a separate entrance, a full kitchen, and four large bedrooms with en suite bathrooms, making it perfect for co-living or a separate rental setup. The detached garage has been converted into a studio with a private bathroom, creating an additional income opportunity. The home also offers ample parking, including a gated carport and driveway, along with a dedicated laundry area for tenants. Solar panels provide added efficiency and long term savings. Property will be delivered in its current condition and can be delivered vacant upon request.
No exterior & parking available.
Grades K-5 • 0.5 mi
Grades K-5 • 0.6 mi
Grades K-5 • 0.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 7.0 | 3.0 | 98% |
| Baths | 7.0 | 2.0 | 97% |
| Square foot | 2,660 | 1,742 | 87% |
| Lot Size | 7,955 | 6,304 | 89% |
| Price | $1.39M | $1.33M | 54% |
| Price per sq ft | $523 | $764 | 8% |
| Built year | 1917 | 1926 | 18% |
| HOA | $0 | $0 | 50% |
| Days on market | 15 | 187 | 2% |
Apr 7, 2026
$1,390,000
Initial Listing
Dec 30, 2021
$1,250,000
Public Record
Feb 8, 1996
$210,000
Public Record