1516 W 121st Street, Los Angeles, California 90047, Los Angeles, 90047 - 4 bed, 3 bath
ACTIVE$899,000
1516 W 121st Street, Los Angeles, California 90047
4Beds
3Baths
2,584Sqft
7,002Lot
Year Built
1949
Close
-
List price
$899K
Original List price
$899K
Price/Sqft
$348
HOA
-
Days on market
-
Sold On
-
MLS number
OC25080155
Home ConditionPoor
Features
View-
About this home
Possibly Over-Priced:The estimated price is 60% below the list price. We found 4 Cons,5 Pros. Rank: price - $899.0K(89th), sqft - 2584(98th), beds - 4(81th), baths - 3(81th).
This is a four bedroom, two bath, single family detached home in the heart of Los Angeles. Nice size backyard, two car detached garage with a long driveway. Needs some repair, not sure how much. This is a great investment property for that investor that is looking for a flip. Price below market value. The seller is in the process of evicting the tenant. Write an offer subject to interior inspection. Access is difficult. The court hearing is sometime in the month of April 2025.
Price History
Date
Event
Price
10/09/25
Sold
$840,000
07/27/23
Sold
$500,000
Condition Rating
Poor
Built in 1949, this 75-year-old property explicitly states it 'Needs some repair, not sure how much' and is marketed as a 'great investment property for that investor that is looking for a flip.' The 'difficult access' and complete absence of interior photos strongly suggest that the kitchen, bathrooms, and all major systems are in very poor, outdated condition, requiring substantial repairs and rehabilitation. The exterior images also show significant neglect and disrepair.
Pros & Cons
Pros
High Investment/Flip Potential: Explicitly marketed as a 'great investment property for that investor that is looking for a flip' and 'Price below market value,' indicating significant profit potential after renovation.
Spacious Home & Lot: Offers a substantial 2584 sqft living space with 4 bedrooms and 2 baths on a generous 7002 sqft lot, providing ample room for families or future expansion.
Detached Garage & Ample Parking: Features a two-car detached garage and a long driveway, offering valuable off-street parking and potential for an Accessory Dwelling Unit (ADU) conversion.
Prime Los Angeles Location: Located 'in the heart of Los Angeles,' providing access to urban amenities, employment centers, and potential for long-term appreciation.
Significant Value-Add Opportunity: The property's current condition ('Needs some repair') combined with its 'below market value' pricing presents a clear opportunity for a buyer to add substantial value through renovation.
Cons
Recently Sold Property: The property was recently sold within the past year on 2025-10-09. The sold price is $840,000.00.
Complex Tenant Eviction & Delayed Possession: The ongoing eviction process with a court hearing scheduled for April 2025 means a prolonged timeline for gaining full possession and starting renovations, adding risk and carrying costs.
Difficult Access & Unknown Repair Scope: 'Access is difficult' and 'Needs some repair, not sure how much' indicate challenges for due diligence and potentially significant, unquantified renovation expenses.
Age of Property & Required Updates: Built in 1949, the home is 75 years old, suggesting that major systems and finishes are likely outdated and will require comprehensive and costly upgrades to meet modern standards.