1447 Wallace Avenue, Los Angeles, California 90026, Los Angeles, 90026 - 3 bed, 2 bath

1447 Wallace Avenue, Los Angeles, California 90026 home-pic-0

1447 Wallace Avenue

Los Angeles, California 90026

ACTIVE UNDER CONTRACT
CONDITION: EXCELLENT
3Beds
2Baths
1,400Sq Ft
5,437Lot Size

Property Price

LIST PRICE$1,395,000
EST. MARKET VALUE
$1,513,897
7% BelowMARKET VALUE

SUMMARY

Analysis of 1447 Wallace Avenue, Los Angeles, California 90026 reveals a Prime Investment Opportunity with a current list price of $1,395,000—significantly undercutting the $1,513,897 Fair Market Value by 7%. This valuation gap indicates a +$118,897 Instant Equity potential for buyers. The property maintains a Excellent Condition Rating (95/100), indicating excellent structural integrity and modern finishes throughout. This turnkey property requires minimal updates and is ready for immediate occupancy. 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 both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.

Estimated Market Value

$1,513,897 +$118,897 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Los Angeles.

Comparable Sales Map

Comparables within 1 miles sold in recently

Address Sold Price BedsBathsSq Ft$/SqftDistance
1447 Wallace Avenue
Subject
$1,395,000*
List Price
321,400$1,081-
A
2325 Berkeley Avenue
Sold
$1,540,000321,420$1,0851.0 mi
B
1414 N Coronado Terrace
Sold
$1,785,000321,494$1,1951.0 mi
C
1530 Allesandro Street
Active Under Contract
$1,449,000
List Price
321,428$1,0150.8 mi

* Subject property listed price vs sold prices of comps.

Condition Analysis

OVERALL CONDITION SCORE

Excellent
TeardownExcellent

Property is new construction or fully renovated.

Although originally built in 1923, this property has undergone an extensive and high-quality renovation that meets modern standards. The main residence features a fully updated kitchen with custom cabinetry and stainless steel appliances, along with the essential upgrade of central air and heat. The detached guesthouse has been completely reimagined with vaulted ceilings and reclaimed wood, and the bathrooms across both structures feature high-end, updated finishes. The property appears move-in ready with no deferred maintenance.

PROSSTRENGTHS & OPPORTUNITIES

  • Versatile Detached Guesthouse

    The property features a beautifully reimagined carriage house with 15-foot vaulted ceilings and a full kitchen, providing an ideal space for a creative studio, high-end guest suite, or potential rental income.

  • Panoramic City Views

    Perched atop a mesa in historic Angelino Heights, the residence offers sweeping, unobstructed views of the Downtown Los Angeles skyline from both the primary bedroom and a generous viewing deck.

  • Historic Character with Modern Upgrades

    This 1920s Craftsman bungalow retains its vintage soul with wood flooring and pocket doors while offering essential modern comforts like central HVAC and a fully updated kitchen with stainless steel appliances.

CONSRISKS & DEFICIENCIES

  • MLS Listing Discrepancy

    Living area discrepancy between mls listing and other public or private record. mls listing living area = 1400, other record living area = 1080. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 2.

  • Limited Interior Square Footage

    At 1,400 total square feet distributed between two structures, the living spaces may feel compact for buyers seeking large communal areas or expansive indoor footprints.

  • Inconsistent Local School Ratings

    While the area has access to some high-performing schools, several of the closest public school options carry lower ratings, which may be a concern for education-focused families.

About 1447 Wallace Avenue

Nestled in a quiet pocket of Angelino Heights, this 1920s Craftsman bungalow sits atop a quaint mesa with sweeping views of Downtown Los Angeles. The main residence features central air and heat, wood flooring, a spacious living room with decorative fireplace, pocket and French doors, and classic wood-framed windows. The updated kitchen offers custom cabinetry, butcher block countertops, tiled backsplash, and stainless steel appliances, flowing seamlessly into the dining area. The light-filled primary bedroom opens to a patio garden ideal for outdoor dining, while a second bedroom doubles easily as a home office. A vintage-style bathroom showcases tile floors, pedestal sink, soaking tub, and separate shower. Just beyond the entry, a generous deck captures panoramic city views. Completing the property is a beautifully designed guesthouse: an original carriage house reimagined as a creative studio with 15-foot vaulted ceilings adorned with reclaimed wood, a full kitchen, authentic tiled bathroom, and private patio, perfect for guests or work-from-home flexibility. Secluded yet central, this rare offering in a coveted Echo Park neighborhood lives like a retreat, moments from Sunset Boulevard and the best of L.A., including newest hotspots El Moro Churreria, Granada Cafe, and Henrietta.

Property Details

Public Facts

Property Type
Single Family Residence
Year Built
1923
Lot Size
5,437 Sq. Ft.

Interior

Total Bedrooms
3
Total Bathrooms
2 (2 Full, 0 Half)

Exterior & Parking

No exterior & parking available.

Utilities & Misc

HOA Fee
$0 / Month

Neighborhood Insights

Los Angeles Unified Schools

Betty Plasencia Elementary School

Grades K-6 • 0.4 mi

4/10

Rosemont Avenue Elementary School

Grades K-5 • 0.8 mi

5/10

Lake Street Primary School

Grades K-1 • 0.9 mi

/10

Sensitive Facilities

No sensitive facilities data found.

Neighborhood Comparison

FeatureSubjectAverage HomeNeighborhood Ranking (50 Listings)
Beds3.03.0
50%
Baths2.02.0
50%
Square foot1,4001,511.5
40%
Lot Size5,4375,198.5
52%
Price$1.40M$1.48M
48%
Price per sq ft$996$907
57%
Built year19231925
48%
HOA$0$0
50%
Days on market22164
2%

Pricing History

Listed for Sale

Feb 12, 2026

$1,395,000

Initial Listing

Sold

Jul 14, 2006

$557,000

Public Record

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