1616 W 24th Street, Los Angeles, California 90007, Los Angeles, 90007 - 2 bed, 1 bath

1616 W 24th Street, Los Angeles, California 90007 home-pic-0

1616 W 24th Street

Los Angeles, California 90007

ACTIVE
CONDITION: GOOD
2Beds
1Baths
1,072Sq Ft
2,565Lot Size

Property Price

LIST PRICE$749,000
EST. MARKET VALUE
$784,573
4% BelowMARKET VALUE

SUMMARY

Estimated Market Value

$784,573 +$35,573 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Los Angeles.

Comparable Sales Map

Comparables within 1 miles sold in recently

Address Sold Price BedsBathsSq Ft$/SqftDistance
1616 W 24th Street
Subject
$749,000*
List Price
211,072$732-
A
1275 W 23rd Street
Sold
$820,000431,005$8160.7 mi
B
1438 W 30th Street
Active
$920,000
List Price
331,285$7160.5 mi

* Subject property listed price vs sold prices of comps.

Condition Analysis

OVERALL CONDITION SCORE

Good
TeardownExcellent

Property is move-in ready.

The property is move-in ready and well-maintained despite its 1906 build date. It features an updated bathroom with modern tile work and a glass-enclosed shower, a well-equipped kitchen with functional appliances, and preserved original hardwood flooring. The interior appears clean and updated within the 5-15 year range, requiring no immediate renovations for occupancy.

PROSSTRENGTHS & OPPORTUNITIES

  • Significant Value-Add Potential

    The property includes Ready-To-Issue (RTI) plans for a detached 2-bedroom ADU and a second bathroom for the main house, offering a clear path to increase equity and rental income.

  • Prime Investment Location

    Situated just one mile from USC and USC Village within a historic neighborhood, the property is ideally positioned to capture high rental demand from students, faculty, and commuters.

  • High Yield Income Projections

    With a projected combined monthly rental income of over $6,200 between the main house and the planned ADU, the property offers an exceptional cap rate for the area.

CONSRISKS & DEFICIENCIES

  • Limited Outdoor Space

    The modest 2,565 square foot lot size means that adding a detached ADU will significantly consume the available yard space, leaving minimal private outdoor area.

  • Historic Preservation Restrictions

    Being located in an HPOZ (Historic Preservation Overlay Zone) may impose strict regulations and higher costs on exterior renovations or future modifications to maintain historical integrity.

About 1616 W 24th Street

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.

Property Details

Public Facts

Property Type
Single Family Residence
Year Built
1906
Lot Size
2,565 Sq. Ft.

Interior

Total Bedrooms
2
Total Bathrooms
1 (1 Full, 0 Half)

Exterior & Parking

No exterior & parking available.

Utilities & Misc

HOA Fee
$0 / Month

Neighborhood Insights

Sensitive Facilities

No sensitive facilities data found.

Neighborhood Comparison

FeatureSubjectAverage HomeNeighborhood Ranking (50 Listings)
Beds2.03.0
38%
Baths1.02.0
38%
Square foot1,0721,152
50%
Lot Size2,5652,870
25%
Price$749.0K$760.8K
50%
Price per sq ft$699$564
75%
Built year19061904
50%
HOA$0$0
50%
Days on market9169
13%

Pricing History

Listed for Sale

Feb 25, 2026

$749,000

Initial Listing

Sold

May 12, 2010

$225,000

Public Record

Sold

Jul 6, 2006

$450,000

Public Record

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