1259 Velasco Street, Los Angeles, California 90023, Los Angeles, 90023 - 0 bed, 0 bath
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Los Angeles, California 90023
This Strategic Residential Income Duplex is a Strong Value Opportunity, listed at $750,000—positioned well below the $792,376 Fair Market Value by 5%. This valuation gap offers $42,376 in Instant Equity for incoming buyers. While the property holds a Fair Condition Rating and requires modernization, its dual 2-bedroom units and rare 4-car parking capacity near DTLA and USC ensure high rental demand. This is a stable, value-add asset perfectly suited for Buy-and-Hold Investors or Owner-Occupants looking to house-hack in a central urban corridor.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1259 Velasco Street Subject | $750,000* List Price | 0 | 0 | 1,835 | $432 | - |
A 1125 Orme Sold | $750,000 | 7 | 4 | 1,828 | $410 | 0.8 mi |
B 3078 E 6th Street Sold | $850,000 | 0 | 0 | 2,279 | $373 | 0.9 mi |
C 1151 Calzona Street Active | $878,000 List Price | 6 | 4 | 1,704 | $515 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1924, this duplex is a century-old property that appears to be maintained but shows significant signs of age. While functional as a residential income property, the infrastructure is dated, and the listing lacks mention of recent major renovations to the kitchens, bathrooms, or major systems like electrical and plumbing. It fits the 'fair' criteria as an aged home that is habitable but requires modernization to meet current quality standards.
As a duplex featuring two 2-bedroom, 1-bathroom units, this property offers excellent flexibility for investors seeking rental income or owner-occupiers looking to offset their mortgage.
The property is ideally situated near major employment hubs including Downtown Los Angeles, the Arts District, and the USC Health Sciences Campus, ensuring high tenant demand.
Rare for this high-density area, the property includes a 2-car attached garage plus two additional gated driveway spaces, providing significant value and security for residents.
Built in 1924, the property may require substantial updates to major systems such as plumbing, electrical, and roofing to meet modern standards and efficiency.
The 4,033 sq ft lot is relatively small for a multi-unit property, leaving minimal outdoor recreational space and limiting the potential for future ADU expansion.
2 units! Opportunity to own a residential income property in Los Angeles featuring two attached units on a 4,033 sq ft lot. Built in 1924, the property offers a total of 1,835 sq ft with two units, each configured with 2 bedrooms and 1 bathroom. The layout provides functional living space and flexibility for residential income or multi-family ownership. The property includes a 2-car attached garage plus two uncovered driveway parking spaces, a gated driveway, and a fenced front yard area. Covered front porch and driveway access provide entry to the property. Located near major city destinations including Downtown Los Angeles, the Arts District, and USC Health Sciences Campus, with convenient access to Interstate 5, US-101, and Interstate 10. Nearby commercial corridors along Soto Street offer shops and restaurants. Central Los Angeles location with access to major employment centers, transportation routes, and neighborhood amenities.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 1,835 | 1,828 | 54% |
| Lot Size | 4,033 | 5,983 | 15% |
| Price | $750.0K | $710.9K | 54% |
| Price per sq ft | $409 | $409 | 50% |
| Built year | 1924 | 1923 | 77% |
| HOA | $0 | $0 | 50% |
| Days on market | 41 | 180 | 8% |
Mar 12, 2026
$750,000
Initial Listing