
Los Angeles, California 90023
This property presents a High-Potential Investment Opportunity with a List Price of $599,900—positioned well below the $527,582 Fair Market Value (Note: Market adjustment reflects current distressed status). While the home carries a Condition Rating of 6, the LAR2-zoned 5,000 sq. ft. lot provides significant development upside for an ADU or second unit. This asset is strictly an as-is project requiring substantial capital expenditure. It is an ideal acquisition for Fix-and-Flip Investors or Contractors seeking to capitalize on the Boyle Heights location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1172 Mirasol Subject | $550,000* List Price | 3 | 2 | 896 | $570 | - |
A 810 S Indiana Sold | $515,000 | 2 | 1 | 732 | $704 | 0.5 mi |
B 1028 S Gage Avenue Sold | $425,000 | 3 | 1 | 888 | $479 | 0.8 mi |
C 1143 S Grande Vista Active Under Contract | $585,000 List Price | 3 | 2 | 1,102 | $531 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1923 (>50 years) with no evidence of recent renovations. The property features a completely tarped roof indicating major structural failure and is marketed strictly as a cash-only 'investor opportunity' for its LAR2-zoned land value.
The 5,000 square foot lot is zoned LAR2, providing a significant opportunity for investors to potentially add a second unit or ADU to maximize the property's value.
Situated in the heart of Boyle Heights, the property offers exceptional proximity to Downtown Los Angeles and major freeways, making it highly attractive for future tenants or buyers.
As a distressed renovation project in a sought-after neighborhood, this property offers substantial equity growth potential for contractors and cash investors.
The preference for cash offers, no contingencies, and a short 14-day escrow period creates a high barrier to entry for traditional retail buyers.
The property is being sold strictly 'As-Is' with no seller credits or repairs, indicating that significant capital expenditure will be required to make the home habitable.
Investor & Entrepreneurial Opportunity in Boyle Heights! Bring your vision, creativity, and entrepreneurial spirit to this value-add single-family residence featuring 3 bedrooms, 2 bathrooms, approximately 896 square feet of living space, situated on a 5,000-square-foot LAR2-zoned lot. Built in 1923, this property offers an exciting opportunity for investors, contractors, cash buyers, and anyone with the business acumen to recognize the potential of buying at an attractive price and creating value through thoughtful improvements. Whether your goal is to renovate and resell, hold as an investment, or transform the property into the perfect family home customized to your own taste and style, this is an opportunity to start with a property that offers tremendous potential and make it your own. The property is being sold strictly As-Is, with no repairs or credits to be provided by the seller. Cash offers are preferred with a 30-day escrow. Proof of funds is required, and offers with no contingencies are strongly preferred. Buyers are advised to conduct their own investigations regarding the property's condition, zoning, permits, occupancy, and any future development potential. Conveniently located in the heart of Boyle Heights with easy access to Downtown Los Angeles, the 5, 10, and 60 Freeways, shopping, schools, parks, and public transportation, this property represents a compelling opportunity for a resourceful buyer with vision—someone prepared to look beyond its current condition, recognize its potential, and create a home or investment that reflects their own goals and style.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 896 | 1,664.159 |
| Lot Size | 5,002 | 6,066.556 |
| Price | $550.0K | $1.35M |
| Price per sq ft | $614 | $806 |
| Built year | 1923 | 1939 |
| HOA | $0 | $278 |
| Days on market | 76 | 55 |
Aug 16, 2026
$550,000
$599,900
-8% Price Drop
Initial Listing
Jun 25, 2026
$599,900
Initial Listing