
Los Angeles, California 90019
This High-Potential Investment Opportunity is listed at $1,500,000, positioned well above the $1,411,111 Fair Market Value by 6%. Despite the premium, the property offers a Mint Condition Rating following a comprehensive remodel. Featuring a versatile multi-unit layout and a private deck, this asset generates $3,600/month in rental income, providing immediate cash flow. While the property includes unpermitted improvements and HPOZ restrictions, it remains a compelling choice for Buy-and-Hold Investors or Owner-Occupants seeking a turnkey, income-producing residence in a central location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1032 4th Avenue Subject 4 bd · 4 ba · 1,559 sqft · $925 | $1,500,000* List Price | 4 | 4 | 1,559 | $925 | - |
A 918 5th Sold 3 bd · 5 ba · 1,619 sqft · $821 · 0.2 mi | $1,330,000 | 3 | 5 | 1,619 | $821 | 0.2 mi |
B 1117 S Manhattan Place Sold 4 bd · 3 ba · 1,807 sqft · $774 · 0.5 mi | $1,399,000 | 4 | 3 | 1,807 | $774 | 0.5 mi |
C 1042 3rd Avenue Sold 3 bd · 2 ba · 1,730 sqft · $728 · 0.1 mi | $1,260,000 | 3 | 2 | 1,730 | $728 | 0.1 mi |
D 950 S Muirfield Road Sold 2 bd · 1 ba · 1,414 sqft · $1,086 · 0.8 mi | $1,535,000 | 2 | 1 | 1,414 | $1,086 | 0.8 mi |
E 1106 S Victoria Avenue Sold 2 bd · 2 ba · 1,419 sqft · $799 · 0.4 mi | $1,134,200 | 2 | 2 | 1,419 | $799 | 0.4 mi |
F 1138 S St Andrews Place Active Under Contract 4 bd · 2 ba · 1,830 sqft · $710 · 0.5 mi | $1,300,000 List Price | 4 | 2 | 1,830 | $710 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although originally built in 1921, the property underwent a comprehensive renovation approximately 4 years ago, meeting the criteria for a recent remodel (<5 years). Visual data shows completely updated kitchens and bathrooms with modern white shaker cabinets, quartz countertops, contemporary fixtures, and new flooring throughout. Mechanical systems are also updated, featuring a tankless water heater and mini-split HVAC units, leaving the property in mint, move-in condition.
The property currently generates approximately $3,600 per month in rental income through its multi-unit configuration, offering an excellent opportunity for investors or owner-users looking to offset their mortgage.
The interior was thoughtfully remodeled to allow for flexible living arrangements, providing the option to maintain separate units or easily restore the home to a traditional single-family residence.
Situated in the desirable Hancock Park-Wilshire area, the property benefits from a quiet neighborhood setting while remaining conveniently close to major hospitals, markets, and popular dining destinations.
The current 4-bedroom, 4-bathroom configuration and garage conversion differ from public records and include unpermitted work, which may complicate financing and require future legal compliance efforts.
Located within a Historic Preservation Overlay Zone, the property is subject to strict city guidelines and restrictions regarding exterior renovations and modifications, potentially increasing the cost and complexity of future upgrades.
Nestled in a quiet and desirable neighborhood, this unique property offers flexible living arrangements and excellent income potential. Thoughtfully remodeled approximately four years ago, the main residence was configured into two separate living areas, with a front 1-bedroom, 1-bath unit currently rented for $1,900/month and a rear 2-bedroom, 2-bath owner-occupied unit. An additional converted garage offers a 1-bedroom, 1-bath space currently rented for $1,700/month, generating approximately $3,600/month in total rental income.The partition separating the main residence can be removed to restore a more open configuration, subject to buyer verification. Public records reflect a 3-bedroom, 1-bathroom Single Family Residence. The property is currently configured and used as 4 bedrooms and 4 bathrooms, with certain improvements and configurations being unpermitted. Buyer to independently verify all permits, bedroom/bathroom count, square footage, zoning, use, and legality of existing improvements with the appropriate governmental agencies. Property can be delivered vacant at Close of Escrow. Conveniently located near restaurants, hospitals, markets, and other everyday amenities. Features include a tankless water heater and a versatile layout offering multiple possibilities for an owner-user or investor. Property is located within a Historic Preservation Overlay Zone (HPOZ); buyer to independently verify all applicable restrictions, requirements, and guidelines with the City/County.
No exterior & parking available.
Grades K-5 • 0.5 mi
Grades K-5 • 0.7 mi
Grades K-5 • 0.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 3.0 |
| Baths | 4.0 | 2.0 |
| Square foot | 1,559 | 1,670.836 |
| Lot Size | 6,753 | 6,152.156 |
| Price | $1.50M | $1.34M |
| Price per sq ft | $962 | $807 |
| Built year | 1921 | 1941 |
| HOA | $0 | $238 |
| Days on market | 49 | 56 |
Sep 21, 2026
$1,500,000
Initial Listing
May 12, 2022
$1,230,000
Public Record
Jul 28, 2005
$850,000
Public Record
Jul 25, 2003
$543,000
Public Record
Mar 12, 2002
$315,000
Public Record