1616 W 24th Street, Los Angeles, California 90007, Los Angeles, 90007 - 2 bed, 1 bath
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Los Angeles, California 90007
This High-Income Potential Residential Asset is a High-Potential Investment Opportunity listed at $749,000—positioned well below the $784,573 Fair Market Value by 4%. This valuation offers $35,573 in Instant Equity. Maintaining a Condition Rating of 3, the home features original hardwood floors and includes Ready-To-Issue (RTI) ADU plans to drive a projected $6,200 monthly income. Located just one mile from USC, it is a strategic acquisition for Buy-and-Hold Investors or Owner-Occupants looking to house-hack in a historic district.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1616 W 24th Street Subject | $749,000* List Price | 2 | 1 | 1,072 | $732 | - |
A 1275 W 23rd Street Sold | $820,000 | 4 | 3 | 1,005 | $816 | 0.7 mi |
B 1438 W 30th Street Active | $920,000 List Price | 3 | 3 | 1,285 | $716 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is move-in ready and shows signs of consistent maintenance despite its 1906 build date. The bathroom has been fully renovated with modern marble-style tiling and a glass-enclosed shower. While the kitchen is somewhat dated with older oak-style cabinetry and white appliances, it remains functional and well-kept. The original hardwood and parquet flooring throughout the living areas appear to be in good condition, and the overall interior paint and fixtures are clean and updated.
The property includes Ready-To-Issue (RTI) plans for a detached 2-bedroom ADU and a second bathroom for the main house, projecting a combined monthly rental income exceeding $6,200.
Situated just one mile from USC and USC Village, the home offers exceptional proximity to Downtown LA, major stadiums, and key freeways, making it a prime target for student or professional rentals.
Built in 1906, the residence retains its original hardwood floors and charm while featuring a tastefully updated bathroom and a functional layout suited for modern living.
With a lot size of only 2,565 square feet, the addition of a detached ADU will significantly reduce available outdoor space and may result in a high-density feel on the parcel.
Being located within the Adams-Normandie Historic Preservation Overlay Zone means any future exterior renovations or modifications are subject to strict historical guidelines and approval processes.
Discover an exceptional opportunity to own a home or income-producing property in one of Los Angeles' most desirable central neighborhoods. Located just one mile from the University of Southern California and USC Village, this charming 2-bedroom, 1-bath residence combines comfortable living with strong investment potential. Inside, the home features a warm and functional layout highlighted by original hardwood floors, a generous living room, a formal dining space, and a well-equipped kitchen complete with appliances and an in-unit washer and dryer. The updated bathroom showcases tasteful tile work and a glass-enclosed shower, enhancing the home's overall appeal.Situated within the AdamsNormandie Historic Preservation Overlay Zone (HPOZ), the property offers convenient access to Downtown Los Angeles, L.A. Live, the Coliseum, BMO Stadium, Exposition Park, Trader Joe's, and the future Lucas Museum of Narrative Art. Nearby access to the 10 and 110 freeways makes commuting throughout the city quick and convenient. Adding significant value, the property includes Ready-To-Issue (RTI) plans for a detached 2-bedroom, 1-bath Accessory Dwelling Unit (ADU) featuring a private entrance and separate address. The plans also include the addition of a second bathroom to the main residence, enhancing functionality and livability. Upon completion, the ADU is projected to generate approximately $3,000 per month in rental income, while the main home has previously rented for $3,200 per month offering a combined potential income exceeding $6,200 monthly.Attractive financing programs are available for both first-time and repeat buyers. Please call for details.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.5 | 25% |
| Baths | 1.0 | 2.5 | 25% |
| Square foot | 1,072 | 1,260 | 38% |
| Lot Size | 2,565 | 2,870 | 25% |
| Price | $749.0K | $785.8K | 38% |
| Price per sq ft | $699 | $508 | 75% |
| Built year | 1906 | 1907 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 56 | 177 | 13% |
Feb 25, 2026
$749,000
Initial Listing
May 12, 2010
$225,000
Public Record
Jul 6, 2006
$450,000
Public Record