1259 S Alma, Los Angeles, California 90023, Los Angeles, 90023 - 2 bed, 1 bath
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Los Angeles, California 90023
This Development-Ready Asset is a High-Potential Investment Opportunity with a List Price of $499,000, aligning with its $491,304 Fair Market Value. While holding a Poor Condition Rating due to required extensive systems work, the property’s value lies in its 5,111 sqft lot and Zoning Potential for 1-2 ADUs. Located in the strategic Boyle Heights area near transit, this 620 sqft structure offers significant ROI through forced appreciation and development. It is a prime acquisition for Fix-and-Flip Investors or Developers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1259 S Alma Subject | $459,000* List Price | 2 | 1 | 620 | $726 | - |
A 810 S Indiana Sold | $515,000 | 2 | 1 | 732 | $704 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1924, this property is explicitly described as needing 'extensive systems work' and 'must be updated.' The images reveal a severely outdated kitchen with worn cabinets, old appliances, and damaged linoleum flooring. General interior photos show worn flooring, basic old light fixtures, and only a partial, modern cooling solution (mini-split in one room). While 'appears livable,' the significant age and stated need for extensive system overhauls place it firmly in the 'poor' category, requiring substantial repairs and rehabilitation beyond minor updates.
Explicitly marketed as an 'investor's delight' with significant potential for adding 1-2 ADUs or an apartment building, subject to city permits, offering substantial future value.
A 5,111 sqft lot in Los Angeles provides ample space for expansion, additional units, or landscaping, directly supporting development goals.
Situated on a residential street in Los Angeles (Boyle Heights), offering proximity to businesses and public transportation, enhancing desirability and rental potential.
The property 'must be updated and extensive systems work needed,' indicating a substantial investment in time and capital for modernization and repairs.
Built in 1924, the home likely has outdated infrastructure and systems, increasing the complexity and cost of renovations.
With only 620 sqft, the existing home is quite small, which may necessitate expansion or complete redevelopment to meet contemporary living standards or maximize rental income.
An Investors delight, come remodel and add 1-2 ADUs or apartment building (check with city for possible permits). Tenant will remain and seller can investigate with the LA County Rent Stabilization division for further information regarding eviction due to new owner occupancy or remodeling. Home built in 1924, situated on a great lot full of potential. The home appears livable but must be updated and extensive systems work needed. Some work may have been completed without permits. There is a great lawn, fruit trees and lovely manicured garden that surround this home. Long driveway in a gated yard for plenty of vehicle parking. Street is all residential with businesses and transportation nearby.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 41% |
| Baths | 1.0 | 1.0 | 50% |
| Square foot | 620 | 1,030 | 12% |
| Lot Size | 5,111 | 5,037 | 53% |
| Price | $459.0K | $590.0K | 24% |
| Price per sq ft | $740 | $558 | 82% |
| Built year | 1924 | 1922 | 65% |
| HOA | $0 | $0 | 50% |
| Days on market | 121 | 144 | 29% |
May 10, 2026
$459,000
$499,000
-8% Price Drop
Initial Listing
Feb 5, 2026
$499,000
Initial Listing