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1199 W 38th Street, Los Angeles, California 90037, Los Angeles, 90037 - 3 bed, 2 bath

1199 W 38th Street, Los Angeles, California 90037 home-pic-0
ACTIVE$774,900
1199 W 38th Street, Los Angeles, California 90037
3Beds
2Baths
1,080Sqft
5,487Lot
Year Built
1906
Close
-
List price
$775K
Original List price
$899K
Price/Sqft
$718
HOA
-
Days on market
-
Sold On
-
MLS number
MB25170067
Home ConditionFair
Features
Patio
ViewNeighborhood

About this home

Possibly Over-Priced:The estimated price is 12% below the list price. We found 3 Cons,5 Pros. Rank: price - $774.9K(76th), sqft - 1080(12th), beds - 3(50th), baths - 2(50th).

Welcome to 1199 West 38th Street, Los Angeles Ca 90037, a rare opportunity just half a mile from University of Southern California! This charming single-family home offers incredible potential for both homeowners and savvy investors. Situated in a high-demand rental area, the property includes an unpermitted accessory dwelling unit (ADU) in the rear, ideal for extended family, guest accommodations, or possible rental income (Buyer to verify all permits and usage with the City). The main residence features a comfortable layout with 3 bedrooms and 1 bathroom, plus an unpermitted half bathroom, ample natural light, and classic Los Angeles character. Families will love the spacious yard, gated entry, and proximity to parks, schools, and transit. Investors will appreciate the strong rental market and high demand for student housing in the USC area. Whether you are looking to live in, rent out, or develop further, this property is a versatile and strategic addition to any portfolio. Don't miss this opportunity in one of LA's fastest-growing neighborhoods!

Price History

Date
Event
Price
10/27/25
Price Change
$774,900-3.1%
09/10/25
Price Change
$799,900-5.9%
08/27/25
Price Change
$849,900-5.5%
08/04/25
$899,000
10/04/00
Sold
$139,000
Condition Rating
Fair
Built in 1906, this property shows its age but has received some maintenance and partial updates. The kitchen features painted older cabinets, a newer backsplash, and a stainless steel refrigerator, but the overall style, tile flooring, and placement of the washer/dryer indicate it's dated and requires further modernization. The main living area has an older light fixture, though some other rooms (likely the ADU) appear to have more recent laminate flooring and recessed lighting. While livable, the home's systems and aesthetics are functional but show signs of being outdated, requiring minor updates to meet contemporary standards.
Pros & Cons

Pros

Prime Location & Rental Demand: Strategically located just half a mile from the University of Southern California (USC), making it highly desirable for student housing and ensuring a strong rental market.
Income Potential (ADU): Features an accessory dwelling unit (ADU) in the rear, offering significant potential for rental income, guest accommodations, or multi-generational living.
Investment & Growth Opportunity: Situated in one of LA's fastest-growing neighborhoods with high demand, presenting a versatile and strategic investment for appreciation and future development.
Outdoor Space & Security: Boasts a spacious yard and gated entry, providing valuable outdoor living space and enhanced security, appealing to families and residents seeking privacy.
Classic Charm & Natural Light: The main residence retains classic Los Angeles character with ample natural light, offering an appealing aesthetic and comfortable living environment.

Cons

Unpermitted Structures: Both the ADU and a half bathroom are unpermitted, which requires buyer verification and may entail additional costs, risks, or legal processes for compliance.
Historic Property (Age): Built in 1906, the property is over a century old, potentially indicating a need for significant updates to plumbing, electrical, and other major systems, leading to higher maintenance costs.
Price Discrepancy & Reductions: The listing price has undergone multiple reductions and is currently 13% above the estimated market value, suggesting potential overpricing or difficulty in attracting buyers at its current level.

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