1242 N Virgil Avenue, Los Angeles, California 90029, Los Angeles, 90029 - 5 bed, 4 bath
1242 N Virgil Avenue
Los Angeles, California 90029
Property Price
SUMMARY
Analysis of 1242 N Virgil Avenue, Los Angeles, California 90029 is currently available with a list price of $875,000. The property maintains a Poor Condition Rating (30/100), indicating the property requires renovation and updates to maximize its market potential. This presents opportunities for value-add investors. Located in a high-demand neighborhood within the Los Angeles Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Condition Analysis
OVERALL CONDITION SCORE
Property is extensive renovation needed.
The property, built in 1908, is explicitly marketed as a 'future 3 or 4 unit construction project' that is only '20% complete.' The images show an unfinished interior with exposed framing and a partially completed roof, indicating it is a construction site. There are no functional kitchens, bathrooms, or living spaces. It requires substantial rehabilitation and an estimated $600K to complete, rendering it unlivable in its current state.
PROSSTRENGTHS & OPPORTUNITIES
- High Development Potential
The property is explicitly marketed as a 'future 3 or 4 unit construction project' with the potential to convert the garage into a fourth unit, making it an ideal residential income opportunity for developers.
- Significant Price Reduction & Investment Value
Advertised as a 'HUGE SHORT SALE PRICE REDUCTION' with the current list price of $899,000 being below the previous sale price of $910,000, indicating a strong investment opportunity and motivated seller.
- Strong Future ROI Potential
An appraised future value of $2.4M with an estimated $600K needed to complete the project suggests a substantial profit margin for the right investor or developer.
CONSRISKS & DEFICIENCIES
- Incomplete Project Requiring Substantial Capital
The project is only '20% complete' and requires an estimated $600K to finish, demanding significant additional investment, time, and project management from the buyer.
- Strict Buyer Requirements
The demand for an 'ALL CASH BUYER' and 'FAST CLOSING' severely restricts the potential buyer pool to highly liquid investors and implies limited negotiation flexibility.
- Short Sale Complexities
Being a 'SHORT SALE' and 'LENDER DIRECT' can often involve a more complex and potentially lengthy transaction process, despite the call for fast closing, and may come with 'as-is' conditions.
About 1242 N Virgil Avenue
HUGE SHORT SALE PRICE REDUCTION: Attention Builders & Developers!SEEKING ALL CASH BUYER.FAST CLOSING.IN EXCELLENT RENTAL MARKET !New on the market is this great future 3 or 4 unit construction project . Garage was used as unpermitted 4th unit . Project is 20 % complete. SEEKING IMMEDIATE BUYER !Needed to complete around $600K.Will Not Last. MUST SHOW CASH PROOF OF FUNDS FOR IMMEDIATE ATTENTION. WE CAN HELP WITH CONSTRUCTION FINANCING ! GREAT TERMS !
Property Details
Public Facts
- Property Type
- Triplex
- Year Built
- 1908
- Lot Size
- 5,522 Sq. Ft.
Interior
- Total Bedrooms
- 5
- Total Bathrooms
- 4 (4 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Los Angeles Unified Schools
Lexington Avenue Primary Center
Grades K-2 • 0.2 mi
Lockwood Avenue Elementary School
Grades K-6 • 0.4 mi
Los Feliz STEMM Magnet
Grades K-6 • 0.7 mi
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 4.0 | 60% |
| Baths | 4.0 | 2.0 | 80% |
| Square foot | 2,751 | 2,881 | 40% |
| Lot Size | 5,522 | 6,752 | 40% |
| Price | $875.0K | $875.0K | 50% |
| Price per sq ft | $318 | $318 | 50% |
| Built year | 1908 | 1925 | 40% |
| HOA | $0 | $0 | 50% |
| Days on market | 77 | 288 | 20% |
Pricing History
Listed for Sale
Mar 3, 2026
$875,000
$899,000
-3% Price Drop
Initial Listing
Price Change
Jan 21, 2026
$899,000
$999,000
-10% Price Drop
Initial Listing
Price Change
Dec 28, 2025
$999,000
$1,200,000
-17% Price Drop
Initial Listing
Price Change
Dec 20, 2025
$1,200,000
Initial Listing
Price Change
Dec 19, 2025
$11,000
Initial Listing
Sold
Jun 30, 2023
$910,000
Public Record