
Los Angeles, California 90027
This 1926 Spanish-style residence represents a High-Potential Investment Opportunity, listed at $1,495,000—positioned above the $1,344,989 Fair Market Value. While currently priced above market, the property’s LARD1.5 zoning, 6,494 square foot lot, and detached 2-car garage provide significant long-term development potential. Featuring a Condition Rating of 4, the home requires cosmetic modernization to reach its full value. Located near top-rated schools like Ivanhoe Elementary, this asset is ideal for Buy-and-Hold Investors or Owner-Occupants seeking a character-filled project in a central Los Angeles location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1553 N Commonwealth Subject | $1,295,000* List Price | 2 | 2 | 1,518 | $853 | - |
A 1948 Monon St. Sold | $1,257,500 | 2 | 1 | 1,402 | $897 | 0.6 mi |
B 4414 Ambrose Avenue Sold | $1,290,000 | 2 | 1 | 1,329 | $971 | 0.7 mi |
C 3907 Franklin Avenue Sold | $1,335,000 | 2 | 2 | 1,300 | $1,027 | 0.6 mi |
D 2050 Sanborn Active Under Contract | $1,249,999 List Price | 2 | 1 | 1,254 | $997 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1926, the property is nearly a century old and retains 'vintage' bathrooms and dated kitchen features. While the electrical panel is updated, the interior finishes and systems appear to be over 20-30 years old, requiring cosmetic modernization and minor repairs to address age-related wear like the cracked driveway.
Elementary School: Ivanhoe Elementary School (9/10).
This 1926 Spanish-style home features authentic period details including arched entryways, coved ceilings, and vintage tilework, offering a timeless aesthetic highly sought after in the Los Feliz market.
The LARD1.5 zoning combined with a generous 6,494 square foot lot and a detached two-car garage provides significant opportunities for an ADU or multi-unit development.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 2, other record bedroom count = 3.
With only two bedrooms, the property may have restricted appeal for larger families or buyers requiring multiple dedicated home office spaces at this price point.
The presence of vintage finishes and a decorative-only fireplace suggests that buyers may need to budget for significant interior updates to meet contemporary luxury standards.
Charming Spanish-style home offering approximately 1,518 square feet with 2 bedrooms, bonus room, 2 bathrooms, a long driveway providing ample off-street parking, and a detached 2-car garage. Filled with timeless character, the home features arched entryways, arched windows, a striking coved ceiling in the living room, abundant natural light, and a decorative fireplace that serves as a beautiful focal point. One bedroom includes an attached three-quarter bathroom with shower. The second bedroom features an adjoining bonus room with direct access to the spacious backyard, offering flexibility for a variety of uses. The kitchen includes a dishwasher and an inviting breakfast nook. A small accessible basement may provide additional storage space. Additional features include a newer electrical panel and a hallway bathroom with separate shower and bathtub showcasing vintage light blue and white tilework and classic hexagonal floor tile. The detached 2-car garage, generous driveway, and LARD1.5 zoning may offer future development possibilities. Buyers are advised to independently verify zoning, development potential, ADU possibilities, and permitted uses with the appropriate governmental agencies. Ideally situated in the heart of Los Angeles, the property is approximately 2 miles from Hollywood & Vine, the Hollywood Walk of Fame, and the Hollywood Pantages Theatre; approximately 4 miles from Griffith Observatory and the Greek Theatre; approximately 5 miles from The Grove, LACMA, and the La Brea Tar Pits; and approximately 6 miles from Universal Studios Hollywood. Enjoy convenient access to renowned dining, entertainment, arts, culture, shopping, nightlife, and major employment centers throughout Hollywood, Los Feliz, and Downtown Los Angeles. A rare opportunity to own a character-filled Los Angeles home in a highly central location with close proximity to many of Southern California's most iconic destinations. Buyer to investigate and satisfy themselves regarding all aspects of the property, including current use, occupancy status, zoning, permits, square footage, and development potential.
No exterior & parking available.
Grades K-6 • 0.4 mi
Grades K-6 • 0.5 mi
Grades K-2 • 0.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,518 | 1,664.159 |
| Lot Size | 6,494 | 6,066.556 |
| Price | $1.29M | $1.35M |
| Price per sq ft | $853 | $806 |
| Built year | 1926 | 1939 |
| HOA | $0 | $278 |
| Days on market | 100 | 55 |
Jul 30, 2026
$1,295,000
$1,495,000
-13% Price Drop
Initial Listing
Jun 1, 2026
$1,495,000
Initial Listing