1585 E 48th Place, Los Angeles, California 90011, Los Angeles, 90011 - 0 bed, 0 bath
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1585 E 48th Place
Los Angeles, California 90011
ACTIVE UNDER CONTRACT
CONDITION: GOOD
0Beds
0Baths
2,465Sq Ft
4,350Lot Size
Property Price
LIST PRICE$829,000
EST. MARKET VALUE
$856,023
3% BelowMARKET VALUE
SUMMARY
This duplex represents a High-Potential Investment Opportunity, listed at $829,000—positioned well below the $856,023 Fair Market Value by 3%. This valuation gap offers $27,023 in Instant Equity. Built in 2008, the property maintains a Good Condition Rating and is exempt from the City of Los Angeles RSO, allowing for market-rate rent adjustments. With one unit currently vacant, this is an ideal acquisition for Buy-and-Hold Investors or first-time buyers seeking a house-hack strategy.
Estimated Market Value
$856,023+$27,023 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 |
|---|---|---|---|---|---|---|
★ 1585 E 48th Place Subject | $829,000* List Price | 0 | 0 | 2,465 | $347 | - |
A 1634 E Vernon Sold | $710,000 | 0 | 0 | 2,379 | $298 | 0.3 mi |
B 1407 E 50th Street Sold | $734,000 | 0 | 0 | 2,141 | $343 | 0.2 mi |
C 1629 E Vernon Sold | $899,000 | 0 | 0 | 2,274 | $395 | 0.3 mi |
D 1426 E 50th Sold | $725,000 | 0 | 0 | 1,850 | $392 | 0.2 mi |
E 5604 Fortuna Sold | $855,000 | 0 | 0 | 2,904 | $294 | 0.5 mi |
F 1223 E 46th Active | $750,000 List Price | 0 | 0 | 2,687 | $279 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Good
TeardownExcellent
Property is move-in ready.
Built in 2008, this 16-year-old property fits the 'Good' criteria perfectly. It features modern systems like central AC and is described as move-in ready. Interior images show functional, well-maintained bathrooms and living spaces with no visible signs of deferred maintenance.
PROSSTRENGTHS & OPPORTUNITIES
- Exemption from Rent Control
Built in 2008, this property is not subject to the City of Los Angeles Rent Stabilization Ordinance (RSO), offering owners significantly more flexibility in market-rate rent adjustments.
- High Investment Yield
The property features an exceptional 7.3% CAP rate from day one, providing immediate and strong cash flow potential that outperforms many comparable Los Angeles multi-family assets.
- Modern Construction & Amenities
Unlike older area inventory, this newer construction includes essential modern amenities like central AC and in-unit washer/dryer hookups, which attract higher-quality tenants and reduce maintenance costs.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =4350, other record lot size in square feet = 4295.
- Low School Ratings
The surrounding public schools are rated poorly, with most scoring between 2 and 4, which may limit the property's appeal to families and impact long-term appreciation.
- Limited Outdoor Living Space
With a 4,350 sq ft lot primarily dedicated to the building footprint and parking/carport, there is minimal private yard or green space for tenants to utilize.
About 1585 E 48th Place
Welcome to 1585 E 48th Pl. This duplex offers exceptional value and opportunity for investors and first-time home-buyers alike. Built in 2008, this property is not subject to the City of Los Angeles Rent Stabilization Ordinance. The newer construction includes amenities such as central AC and washer dryer hookups in each unit. Two spacious units across 2,465 sq ft of livable space: unit 1583 downstairs is 3 bed 2 bath; unit 1585 upstairs is 3 bed 2 bath. Unit 1585 is rented to a steady long-term tenant. Unit 1583 is vacant and move-in ready. The 4,350 sq ft lot includes a spacious parking lot with carport. The property is conveniently located near schools, parks, shopping, and more. This property is ideal for investors seeking an outstanding 7.3% CAP rate from day one, first-time home-buyers to live in the vacant unit, or developers considering future repositioning.
Property Details
Public Facts
- Property Type
- Duplex
- Year Built
- 2008
- Lot Size
- 4,350 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Los Angeles Unified Schools
Ascot Avenue Elementary School
Grades K-5 • 0.3 mi
4/10
Holmes Avenue Elementary School
Grades K-6 • 0.4 mi
2/10
Hooper Avenue Elementary School
Grades 1-5 • 0.5 mi
2/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.6 |
| Baths | 0.0 | 3.0 |
| Square foot | 2,465 | 2,187.451 |
| Lot Size | 4,350 | 5,841.385 |
| Price | $829.0K | $841.5K |
| Price per sq ft | $336 | $385 |
| Built year | 2008 | 1928 |
| HOA | $0 | $0 |
| Days on market | 27 | 85 |
Pricing History
Listed for Sale
Aug 13, 2026
$829,000
Initial Listing
Sold
Oct 10, 2014
$435,000
Public Record
Sold
Jul 31, 2014
$355,003
Public Record
Sold
Jun 18, 2007
$235,000
Public Record