
Los Angeles, California 90033
This property presents a High-Potential Investment Opportunity with a List Price of $899,000—positioned well above the $804,064 Fair Market Value by -11%. Featuring a Condition Rating of 5, this Residential Income asset requires significant renovation to address unpermitted rear units and deferred maintenance. The corner lot and detached garage offer substantial ADU conversion potential for long-term equity growth. This project is best suited for Buy-and-Hold Investors or Contractors capable of navigating city legalization requirements to maximize rental income.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1601 Pennsylvania Avenue Subject 0 bd · 0 ba · 2,004 sqft · $396 | $899,000* List Price | 0 | 0 | 2,004 | $396 | - |
A 206 S Soto Sold 0 bd · 0 ba · 2,234 sqft · $330 · 0.8 mi | $738,000 | 0 | 0 | 2,234 | $330 | 0.8 mi |
B 206 S Soto Sold 4 bd · 2 ba · 2,234 sqft · $330 · 0.8 mi | $738,000 | 4 | 2 | 2,234 | $330 | 0.8 mi |
C 2429 Folsom Sold 0 bd · 0 ba · 2,000 sqft · $575 · 0.8 mi | $1,150,000 | 0 | 0 | 2,000 | $575 | 0.8 mi |
D 2128 Michigan Active 0 bd · 0 ba · 1,935 sqft · $331 · 0.5 mi | $640,000 List Price | 0 | 0 | 1,935 | $331 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1900, this property is explicitly marketed as a 'value-add' opportunity requiring a contractor and 'vision.' The presence of unpermitted living spaces, dated interior finishes, and visible exterior deferred maintenance indicates a need for a full rehab of systems and structures.
The property will be delivered vacant at the close of escrow, offering immediate flexibility for owner-occupants to move in or for investors to renovate and set market-rate rents without tenant complications.
With a 3-bedroom front house and additional rear units, the layout is ideal for 'house hacking,' allowing an owner to live in one unit while utilizing rental income to offset mortgage and ownership expenses.
Situated on a corner lot, the property includes a detached garage with existing plumbing, providing a significant opportunity for an ADU conversion to increase density and long-term equity.
The rear building is currently divided into two separate living spaces without permits, which may require costly legalization, reconfiguration, or code compliance efforts to meet city standards.
Built in 1900 and marketed as a value-add opportunity, the property likely requires substantial capital investment for modernization, repairs, and system upgrades to reach its full potential.
DELIVERED VACANT AT CLOSE—LIVE IN THE FRONT AND EXPLORE RENTAL INCOME POTENTIAL IN THE BACK! Situated on a corner lot in Boyle Heights, 1601 Pennsylvania Avenue presents an exciting opportunity for owner-occupants and value-add investors. Move into the 3 bed + 2 bath front house and explore how rental income from the two rear 1+1 accommodation could help offset your mortgage and ownership expenses. Reported as a duplex, the property features a front residence and a rear residential building on an approximately 6,300-square-foot lot with 2004 livable square foot. Vacant delivery gives buyers flexibility to plan improvements, personalize their home, and pursue a rental strategy without taking over existing tenancies. The rear unit has been divided into two separate living spaces without permits, offering buyers an opportunity to investigate legalization or reconfiguration, subject to City approval. A detached garage with existing plumbing provides another possibility for a future ADU conversion, subject to applicable requirements and permits. Please don't walk the property without setting up an appointment. Whether you’re seeking a primary residence with supplemental income potential or an investment with room for improvement, this property offers a compelling starting point. Bring your vision, your contractor, and your plans to build long-term equity! Property will be delivered vacant at close of escrow. Represented as a duplex, not a permitted triplex. Buyer to independently verify square footage, permitted unit count, zoning, lawful rental use, and feasibility of legalization or ADU conversion. Additional units and rental income are not guaranteed; rent may not cover the mortgage or ownership expenses.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.5 |
| Baths | 0.0 | 2.9 |
| Square foot | 2,004 | 2,090.331 |
| Lot Size | 6,326 | 5,852.908 |
| Price | $899.0K | $830.9K |
| Price per sq ft | $449 | $394 |
| Built year | 1900 | 1928 |
| HOA | $0 | $0 |
| Days on market | 35 | 87 |
Oct 5, 2026
$899,000
Initial Listing