1455 Miller Ave., Los Angeles, California 90063, Los Angeles, 90063 - 0 bed, 0 bath
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Los Angeles, California 90063
This Value-Add Residential Income Asset is a Strong Value Opportunity with a List Price of $748,000—positioned well below the $802,318 Fair Market Value by 6%. This valuation gap provides $54,318 in Instant Equity for buyers. Featuring a Legal Triplex layout with a Condition Rating of 4, the property offers significant upside through modernization and the optimization of an unpermitted fourth unit. Located near Cal State LA and Keck Medical Center, it ensures consistent rental demand. This acquisition is ideal for Buy-and-Hold Investors or Owner-Occupants.
Property is moderate renovation needed.
Built in 1926, this multi-unit property is significantly dated. The kitchen and bathrooms appear to be over 20 years old with visible wear, including water damage/peeling on the bathroom vanity and worn hardwood floors. While functional and occupied, the 'Value Add' designation and unpermitted garage conversion indicate a need for modernization and minor repairs.
The property is ideally situated near Cal State LA, Keck Medical Center, and major freeways, ensuring consistent rental demand from students and healthcare professionals.
Featuring a large 3-bedroom owner's unit and two 2-bedroom units, the legal triplex layout offers excellent flexibility for both owner-occupants and buy-and-hold investors.
Built in 1926, the property retains charming period details such as barrel ceilings and faux fireplaces, providing a unique aesthetic that can be leveraged during renovation.
The garage has been converted into a fourth living unit without permits, which poses significant risks for code enforcement and may complicate traditional financing or appraisals.
With a small 3,040 sqft lot and the garage converted to living space, the property lacks adequate off-street parking, which is a major drawback in a high-density Los Angeles neighborhood.
Value Add, Legal 3 unit building in the up and coming City Terrace area of East Los Angeles combined with a additional single apartment inside a converted garage without the benefit of permits. Close proximity and adjacent to Cal State University, 10 & 710 freeways, local shopping and eateries , public transprtation, LA County Library, City Terrace Park, DTLA , Dodger Stadium, Keck Medical Center, L.A. County General Hospital, Monterey Park golf course, & city of Alhambra. Property is located in a strong rental demand area with a good mix of units for the owner user or buy & hold investor. Upstairs unit offers a well sized 3 bedroom, 1-1/2 bathroom unit. Living room boasts a barrel ceiling and faux fireplace & adjacent good sized dining room. Large windows allow for naural sunlight. Unit includes it's own indoor laundry room. Property includes additional two, 2 bedroom & 1 bathroom units on the first level. Property also includes an attached unpermitted converted garage consisting of 1 bedroom, 1 bathroom with a kitchen area and livingroom area.
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 | 2,478 | 1,946 | 80% |
| Lot Size | 3,040 | 5,512.5 | 5% |
| Price | $748.0K | $749.0K | 50% |
| Price per sq ft | $302 | $373 | 20% |
| Built year | 1926 | 1923 | 60% |
| HOA | $0 | $0 | 50% |
| Days on market | 6 | 217 | 5% |
Apr 16, 2026
$748,000
Initial Listing