1172 Mirasol, Los Angeles, California 90023, Los Angeles, 90023 - 3 bed, 2 bath
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Los Angeles, California 90023
This property presents a High-Potential Investment Opportunity with a List Price of $599,900—positioned well below the $529,957 Fair Market Value by -13%. While the property requires significant renovation due to its Condition Rating of 6, the LAR2 Zoning and 5,000 square foot lot provide substantial development potential for an ADU or unit expansion. This asset is strictly an as-is project, offering a clear path for forced appreciation. It is an ideal acquisition for Fix-and-Flip Investors or Contractors seeking a value-add project in Boyle Heights.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1172 Mirasol Subject | $599,900* List Price | 3 | 2 | 896 | $591 | - |
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 (>100 years old) with no evidence of renovation. The roof is in critical failure, visible via tarps and patchwork in aerial photos. The listing explicitly targets cash investors for a 'value-add' project and highlights the LAR2 zoning for development potential, indicating the property is likely at land value.
The property features a generous 5,000 square foot lot with LAR2 zoning, providing a significant opportunity for investors to add value through an ADU or a second residential unit.
Situated in the high-demand Boyle Heights area, the home offers exceptional proximity to Downtown Los Angeles and major transportation arteries including the 5, 10, and 60 freeways.
As a true 'fixer' priced for its condition, this property allows contractors and cash buyers to realize substantial equity growth through a comprehensive renovation project.
The requirement for cash offers, no contingencies, and a 14-day escrow period significantly limits the buyer pool by excluding traditional FHA or VA financed buyers.
With three bedrooms squeezed into only 896 square feet of living space, the current floor plan is likely undersized for modern standards and may require a costly reconfiguration.
Investor Opportunity in Boyle Heights! Bring your vision to this value-add single-family residence featuring 3 bedrooms, 2 bathrooms, approximately 896 square feet of living space on a 5,000 square foot LAR2-zoned lot. Built in 1923, this property presents an excellent opportunity for investors, contractors, and cash buyers seeking their next renovation project. 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 14-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 is an outstanding opportunity to acquire a property with significant upside in a highly sought-after location.
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 | 1,672 |
| Lot Size | 5,002 | 6,067 |
| Price | $599.9K | $1.37M |
| Price per sq ft | $670 | $801 |
| Built year | 1923 | 1939 |
| HOA | $0 | $348 |
| Days on market | 27 | 56 |
Jun 25, 2026
$599,900
Initial Listing