1507 Scott Avenue, Los Angeles, California 90026, Los Angeles, 90026 - 3 bed, 2 bath
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1507 Scott Avenue
Los Angeles, California 90026
ACTIVE
CONDITION: EXCELLENT
3Beds
2Baths
1,200Sq Ft
7,502Lot Size
Property Price
LIST PRICE$1,299,000
EST. MARKET VALUE
$1,381,660
5% BelowMARKET VALUE
SUMMARY
This Echo Park Craftsman Bungalow represents a Strong Value Opportunity, listed at $1,299,000—positioned well below the $1,381,660 Fair Market Value by 5%. This valuation gap offers $82,660 in Instant Equity. Featuring a Mint Condition Rating, the property includes a permitted ADU generating $3,050 monthly and a resort-style backyard with sweeping city and mountain views. With R2-zoning and modern interior updates, this is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-yield, move-in ready lifestyle property.
Estimated Market Value
$1,381,660+$82,660 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Los Angeles.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1507 Scott Avenue Subject 3 bd · 2 ba · 1,200 sqft · $1,151 | $1,299,000* List Price | 3 | 2 | 1,200 | $1,151 | - |
A 2144 Echo Park Avenue Sold 3 bd · 2 ba · 1,396 sqft · $1,157 · 0.8 mi | $1,615,000 | 3 | 2 | 1,396 | $1,157 | 0.8 mi |
B 1351 Calumet Avenue Sold 3 bd · 2 ba · 1,083 sqft · $1,247 · 0.7 mi | $1,350,000 | 3 | 2 | 1,083 | $1,247 | 0.7 mi |
C 1434 Coronado Terrace Sold 4 bd · 3 ba · 1,646 sqft · $1,015 · 0.6 mi | $1,670,000 | 4 | 3 | 1,646 | $1,015 | 0.6 mi |
D 1164 Coronado Ter Active 3 bd · 2 ba · 1,100 sqft · $1,159 · 0.7 mi | $1,275,000 List Price | 3 | 2 | 1,100 | $1,159 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Excellent
TeardownExcellent
Property is new construction or fully renovated.
Although originally built in 1938, the property has undergone extensive recent renovations. It features a brand-new, fully permitted ADU and a 'fresh' modern kitchen with updated cabinetry, stainless appliances, and contemporary finishes. The interior shows updated flooring, recessed lighting, and modern HVAC systems (mini-splits), placing the renovation age within the <5-year window for mint condition.
PROSSTRENGTHS & OPPORTUNITIES
- High Available Lot Utilization
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7502, living area = 1200.
- Income-Generating ADU
The property includes a brand-new, fully permitted ADU with a separate entrance currently generating $3,050 per month, offering a significant mortgage offset or high-yield investment opportunity.
- Exceptional Outdoor Amenities
The resort-style backyard is a rare find in Echo Park, featuring a sauna, fire pit, tree fort, and mature fruit trees, all complemented by sweeping mountain and city light views.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1200, other record living area = 880. 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 1,200 square feet for a 3-bedroom configuration, the living spaces may feel compact, particularly when divided between the main residence and the ADU.
- Underperforming Local Schools
Several nearby public schools, including the closest middle school, carry low performance ratings, which may be a concern for families prioritizing traditional public education.
About 1507 Scott Avenue
In the heart of Echo Park, this charming vintage Craftsman bungalow offers the perfect blend of character, comfort and California indoor-outdoor living. Filled with natural light and featuring a fresh, inviting kitchen, the home is ideally situated in the heart of Echo Park, with the neighborhood's beloved coffee shops, restaurants and local flavors practically in your backyard, all while feeling like a private retreat from the city.But the real magic begins outside. Step into an extraordinary resort-style backyard with sweeping views, spectacular sunsets and thoughtfully curated spaces designed for relaxation and entertaining. Gather around the fire pit, unwind in the sauna, enjoy outdoor dining with friends or escape to your very own tree fort overlooking the neighborhood. With multiple lounging and entertaining areas, a dedicated gym space, mature fruit trees and a beautifully landscaped setting, this backyard is truly something special.Adding even more value is a brand-new, fully permitted ADU with its own separate address and private entrance, currently generating $3,050 per month in rental income. The ADU is completely separate from the main residence, allowing the main house to enjoy exclusive use of its incredible backyard. Whether you're looking for additional income, a future guest retreat or a flexible space for work and creativity, the possibilities are endless.Situated on a flat, R2-zoned lot in one of Echo Park's most desirable locations, this property offers a rare combination of charm, versatility, income potential and lifestyle. Every corner reflects the care and creativity that went into making this property a home. A truly special opportunity to enjoy the best of Echo Park living.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1938
- Lot Size
- 7,502 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
Clifford Street Elementary School
Grades K-6 • 0.7 mi
8/10
Mayberry Street Elementary School
Grades K-6 • 0.7 mi
2/10
Elysian Heights Elementary School
Grades K-6 • 0.7 mi
3/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,200 | 1,670.836 |
| Lot Size | 7,502 | 6,152.156 |
| Price | $1.30M | $1.34M |
| Price per sq ft | $1.1K | $807 |
| Built year | 1938 | 1941 |
| HOA | $0 | $238 |
| Days on market | 5 | 56 |
Pricing History
Listed for Sale
Nov 4, 2026
$1,299,000
Initial Listing
Sold
Nov 1, 2024
$1,300,000
Public Record