1649 S La Brea, Los Angeles, California 90019, Los Angeles, 90019 - 0 bed, 0 bath
Loading property details...
Los Angeles, California 90019
This Value-Add Multifamily Asset represents a Strong Value Opportunity with a List Price of $2,000,000—positioned well below the $2,200,000 Fair Market Value by 9%. This valuation gap provides $200,000 in Instant Equity for an acquisition in the high-demand Mid-City submarket. Currently holding a Fair Condition Rating, the property features two vacant units ready for immediate renovation to capture an estimated 20% rental upside. With the LA Seismic Retrofit already completed in 2024, this 1960s building is a strategic acquisition for Buy-and-Hold Investors or Value-Add Developers seeking long-term appreciation.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1649 S La Brea Subject | $2,000,000* List Price | 0 | 0 | 6,816 | $323 | - |
A 1801 S Longwood Avenue Sold | $1,400,000 | 0 | 0 | 5,202 | $269 | 0.2 mi |
B 1858 S Orange Drive Active | $1,900,000 List Price | 0 | 0 | 6,065 | $313 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
This 1960s multifamily property is in functional but dated condition, consistent with the 'fair' criteria. While it has completed seismic retrofitting, the interior units feature older white appliances, painted cabinetry, laminate flooring, and basic bathroom vanities that show signs of age. The listing explicitly describes it as a 'value-add' opportunity requiring 'in-unit refreshes,' indicating that while the systems are functional, the property requires cosmetic and likely some system updates to meet modern market standards.
The property is delivered with two vacant units (a 2BR and a Bachelor), allowing for immediate renovations and the ability to capture an estimated 20% rental upside at market rates.
The required LA Seismic Retrofit Ordinance work is already completed with a Certificate of Compliance from 2024, saving the buyer significant capital expenditure and construction hassle.
Situated in a high-demand rental submarket with central connectivity, the property benefits from ongoing neighborhood revitalization and a diverse unit mix that supports stable occupancy.
As a 1960s asset marketed as a value-add opportunity, the property likely requires substantial capital improvements to modernize systems and interiors beyond the vacant units.
A $200,000 price reduction and 55 days on market suggest that the initial pricing may have been aggressive relative to the property's current condition and required investment.
Value-add multifamily opportunity featuring a classic 1960s asset offered to the market for the first time, providing a rare chance to reposition and enhance long-term value. Offered to market at a 8.9x GRM, this property features approximately 20% upside to market - and will be delivered with Two (2) Vacant Units - 2BR and Bachelor Unit - ready for immediate in-unit refreshes. 1649 S. La Brea is ideally located in the heart of Mid-City Los Angeles, one of the city’s most dynamic rental submarkets, the property benefits from strong tenant demand, central connectivity, and ongoing neighborhood revitalization. A highly diverse unit mix of Bachelor, 1- and 2-bedroom units appeals to a broad tenant base, supporting stable occupancy and leasing flexibility. Additionally, the property has completed the LA Seismic Retrofit Ordinance, with a Certificate of Compliance dated January 25, 2024. Contact Listing Agent for Offering Memorandum containing additional information.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 6,816 | 6,816 | 50% |
| Lot Size | 7,003 | 7,089 | 33% |
| Price | $2.00M | $2.00M | 50% |
| Price per sq ft | $293 | $269 | 67% |
| Built year | 1963 | 1955 | 67% |
| HOA | $0 | $0 | 50% |
| Days on market | 62 | 231 | 33% |
Apr 9, 2026
$2,000,000
$2,200,000
-9% Price Drop
Initial Listing
Feb 19, 2026
$2,200,000
Initial Listing