1229 S Indiana, Los Angeles, California 90023, Los Angeles, 90023 - 0 bed, 0 bath
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1229 S Indiana
Los Angeles, California 90023
ACTIVE
CONDITION: POOR
0Beds
0Baths
1,128Sq Ft
4,835Lot Size
Property Price
LIST PRICE$480,000
EST. MARKET VALUE
$479,207
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $480,000—positioned well below the $479,207 Fair Market Value (priced at market stability). Featuring R2 Zoning on a 4,835 sqft lot, this asset provides immediate rental income from two long-term occupied units. Given the Condition Rating of 5, the property requires modernization to maximize rental premiums. This is a strategic acquisition for Buy-and-Hold Investors or Value-Add Developers seeking to leverage location and development potential in a high-demand Los Angeles submarket.
Estimated Market Value
$479,207
Based on Realkey algorithm analyzing recent comparable sales in Los Angeles.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1229 S Indiana Subject | $480,000* List Price | 0 | 0 | 1,128 | $425 | - |
A 817 S Rowan Street Sold | $525,000 | 3 | 1 | 1,440 | $365 | 0.6 mi |
B 4354 Verona Street Sold | $473,000 | 3 | 1 | 1,130 | $419 | 0.9 mi |
C 1028 S Gage Avenue Sold | $425,000 | 3 | 1 | 888 | $479 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Poor
TeardownExcellent
Property is extensive renovation needed.
Built in 1927 (97 years old) with no mention of recent renovations. The property is occupied by long-term tenants and marketed as an investment opportunity, which typically indicates dated kitchens, bathrooms, and aging systems (HVAC/Electric) that likely require significant rehabilitation to meet modern standards.
PROSSTRENGTHS & OPPORTUNITIES
- Income Generation
The property features two separate units with long-term tenants, providing immediate and stable rental income for investors from day one.
- Development Potential
Zoned R2 on a 4,835 sqft lot, this property offers significant upside for future expansion or redevelopment in a high-demand Los Angeles submarket.
- Strategic Location
Situated near Downtown Los Angeles, Boyle Heights, and major freeways, the location ensures high tenant demand and excellent accessibility.
CONSRISKS & DEFICIENCIES
- Property Age
Built in 1927, the structure may require substantial capital expenditures for deferred maintenance, modernization, or system upgrades.
- Compact Living Space
With only 1,128 total square feet divided between two units, the individual living areas are relatively small, which may limit rental premiums.
About 1229 S Indiana
Great investment opportunity in East Los Angeles! Two units on one lot. Front unit features 2 bedrooms and 1 bath; rear unit offers 1 bedroom and 1 bath. Both units are occupied by long-term tenants with a history of consistent rent payments, providing immediate rental income. Long driveway provides ample parking. R2 zoning may offer future development potential. Conveniently located near Downtown Los Angeles, Boyle Heights, and major freeways.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1927
- Lot Size
- 4,835 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 3.0 |
| Baths | 0.0 | 2.0 |
| Square foot | 1,128 | 1,664.159 |
| Lot Size | 4,835 | 6,066.556 |
| Price | $480.0K | $1.35M |
| Price per sq ft | $426 | $806 |
| Built year | 1927 | 1939 |
| HOA | $0 | $278 |
| Days on market | 20 | 55 |
Pricing History
Listed for Sale
Aug 20, 2026
$480,000
Initial Listing
Sold
Mar 22, 2024
$350,000
Public Record