
Los Angeles, California 90011
This Single Family Residence represents a High-Potential Investment Opportunity, listed at $639,995—positioned well below the $666,391 Fair Market Value by 3%. This valuation gap offers $26,396 in Instant Equity. Featuring a Condition Rating of 3, the property offers a functional layout with a flex room and significant ADU Expansion Potential on its 5,142 sq. ft. lot. While local school ratings are modest, the central location near USC and Downtown LA ensures strong demand. This is an ideal acquisition for Buy-and-Hold Investors or first-time buyers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1583 E Martin Luther King Jr Subject | $639,995* List Price | 2 | 1 | 1,144 | $583 | - |
A 1220 E 40th Place Sold | $593,777 | 2 | 1 | 1,080 | $550 | 0.4 mi |
B 3815 Paloma Sold | $750,000 | 4 | 2 | 1,236 | $607 | 0.9 mi |
C 1646 E 41st Active Under Contract | $659,000 List Price | 3 | 2 | 1,004 | $656 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While built in 1906, the property shows clear signs of a mid-range renovation within the last 5-15 years. The kitchen features updated shaker-style cabinetry and modern flooring, and the bathroom has been refreshed with a newer vanity and fixtures. The exterior is well-maintained with recent paint and landscaping, making it move-in ready.
The generous 5,142 sq. ft. lot and detached 2-car garage provide a significant opportunity to build an Accessory Dwelling Unit (ADU), offering potential for rental income or increased property value.
Ideally situated near Downtown Los Angeles, USC, and Exposition Park, this property offers excellent accessibility for commuters and high demand for investors.
The inclusion of a dedicated flex room alongside the two bedrooms provides essential flexibility for a home office, guest room, or creative studio in a compact footprint.
Originally built in 1906, the property may require significant updates to aging systems such as plumbing, electrical, and foundation to meet modern standards.
The majority of the surrounding public schools carry low performance ratings (2-3 out of 10), which may limit the property's appeal to families prioritizing education.
Don’t miss this excellent opportunity in the heart of Los Angeles! Welcome to 1583 E. Martin Luther King Jr. Blvd., a well-maintained property offering comfort, versatility, and incredible future potential. This charming home features 2 bedrooms, 1 flex room, 1 full bathroom, 1 half bathroom, a spacious living room, dining area, kitchen, and dedicated laundry room, providing a functional layout for a variety of lifestyles. The flexible bonus room is ideal as a home office, guest room, playroom, or creative space. The gated front yard enhances privacy and curb appeal, while the long driveway leads to a detached 2-car garage, offering ample off-street parking. Situated on a generous 5,142 sq. ft. lot, the expansive backyard presents exciting possibilities, including space to entertain, garden, or explore the potential to build an Accessory Dwelling Unit (ADU), subject to city approval and buyer verification. Conveniently located near Downtown Los Angeles, USC, Exposition Park, BMO Stadium, shopping, dining, public transportation, and major freeways, this property is an excellent opportunity for first-time homebuyers, investors, or anyone seeking a home with room to grow. Schedule your private showing today and discover the endless possibilities this property has to offer!
No exterior & parking available.
Grades K-5 • 0.1 mi
Grades K-5 • 0.5 mi
Grades K-5 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.0 |
| Baths | 1.0 | 2.0 |
| Square foot | 1,144 | 1,664.159 |
| Lot Size | 5,142 | 6,066.556 |
| Price | $640.0K | $1.35M |
| Price per sq ft | $559 | $806 |
| Built year | 1906 | 1939 |
| HOA | $0 | $278 |
| Days on market | 33 | 55 |
Aug 7, 2026
$639,995
Initial Listing
May 1, 2001
$15,000
Public Record