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

1616 W 24th Street
Los Angeles, California 90007
Property Price
SUMMARY
Estimated Market Value
Comparable Sales Map
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.
Condition Analysis
OVERALL CONDITION SCORE
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
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 38% |
| Baths | 1.0 | 2.0 | 38% |
| Square foot | 1,072 | 1,152 | 50% |
| Lot Size | 2,565 | 2,870 | 25% |
| Price | $749.0K | $760.8K | 50% |
| Price per sq ft | $699 | $564 | 75% |
| Built year | 1906 | 1904 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 9 | 169 | 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














