1220 E 40th Place, Los Angeles, California 90011, Los Angeles, 90011 - 2 bed, 1 bath
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Los Angeles, California 90011
This Modernized Single-Family Residence is a Strong Value Opportunity with a List Price of $599,000—positioned well below the $633,233 Fair Market Value by 5%. This valuation gap offers $34,233 in Instant Equity. Boasting a Good Condition Rating, the interior features a remodeled kitchen, updated bathroom, and a flexible layout with additional rooms. The detached bonus structure provides significant ADU potential for rental income or forced appreciation. This turnkey property is a strategic acquisition for Owner-Occupants or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1220 E 40th Place Subject | $599,000* List Price | 2 | 1 | 1,080 | $615 | - |
A 4416 Crocker Sold | $610,000 | 3 | 2 | 1,059 | $576 | 1.0 mi |
B 1614 E 49th Street Sold | $525,000 | 2 | 1 | 816 | $643 | 1.0 mi |
C 1008 E 51st Street Sold | $660,000 | 4 | 2 | 1,296 | $509 | 1.0 mi |
D 4434 Crocker Street Sold | $599,000 | 3 | 2 | 852 | $703 | 1.0 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is move-in ready and features a beautifully remodeled kitchen and updated bathroom with modern finishes. Although originally built in 1904, the interior has been modernized to provide immediate functionality and strong curb appeal. It meets the 'good' criteria as a well-maintained, updated home that does not require immediate renovation, though it lacks the 'excellent' rating's requirement for a full, comprehensive renovation of all structural and systemic components within the last five years.
The property features a detached rear bonus structure with significant potential for conversion into an ADU, studio, or creative workspace, offering a clear path to increased equity or rental income.
With a beautifully remodeled kitchen and updated bathroom, the home provides modern finishes and immediate functionality, making it an attractive, turnkey option for both owner-occupants and investors.
The interior offers a versatile floor plan with multiple enclosed rooms beyond the two bedrooms noted in tax records, allowing for adaptable use as home offices, guest spaces, or additional sleeping quarters.
There is a discrepancy between the tax records and the current room count; buyers must perform due diligence to verify the legality, permits, and safety of the additional enclosed rooms.
The surrounding public schools generally carry low performance ratings, with many scoring between 2 and 3 out of 10, which may impact the property's appeal to families and long-term appreciation.
The front residence presents excellent curb appeal with a professionally manicured front lawn and welcoming exterior that sets the tone for a move-in ready home. Inside, the property features a beautifully remodeled kitchen and updated bathroom offering modern finishes and immediate functionality for an owner-occupant or investor. The interior offers a flexible floor plan with multiple enclosed rooms, creating a layout that can be adapted to a variety of needs. While tax records reflect 2 bedrooms, the home currently features several additional rooms with windows and exterior access (buyer to verify legality, permits, and use). Located directly across the street from the Historic Ralph Bunche residence, the property also offers strong long-term upside potential. The home has been owner-occupied and is tenant-free*, making it ready for immediate use. In addition, the property includes a detached rear bonus structure with immense potential for an **ADU, studio, or creative workspace (buyer to verify possibilities).
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades K-5 • 0.4 mi
Grades K-5 • 0.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 38% |
| Baths | 1.0 | 1.5 | 50% |
| Square foot | 1,080 | 1,138.5 | 44% |
| Lot Size | 5,220 | 4,568.5 | 66% |
| Price | $599.0K | $567.5K | 59% |
| Price per sq ft | $555 | $512 | 63% |
| Built year | 1904 | 1909 | 19% |
| HOA | $0 | $0 | 50% |
| Days on market | 61 | 207 | 3% |
Feb 20, 2026
$599,000
Initial Listing
Jun 10, 2005
$183,000
Public Record