
Los Angeles, California 90042
Analysis of 1842 Phillips Way, Los Angeles, California 90042 is currently available with a list price of $1,299,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Los Angeles Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is moderate renovation needed.
Originally built in 1937, the property is described as move-in ready and functional for rentals, but it remains dated. The presence of window AC units suggests a lack of modern central HVAC, and the interior finishes, while maintained, appear to be over 20 years old, requiring modernization of the kitchen and baths.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 23940, living area = 1469.
Spanning over 23,000 SF, this rare, oversized lot in Highland Park offers unparalleled privacy and significant flexibility for expansion, ADU additions, or complete redevelopment in a high-demand area.
The property features two distinct living spaces, including a move-in ready bungalow and a studio loft with a history of rental success, providing immediate cash flow or multi-generational living options.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =23940, other record lot size in square feet = 23810.
A significant portion of the nearly half-acre lot consists of a sloped hillside, which may require costly terracing or specialized engineering to fully utilize the land for construction or gardening.
With only 1,469 square feet of total living space across two units, the existing structures are relatively small for the price point, likely necessitating further investment in expansion to maximize value.
Rare Highland Park opportunity-Nearly Half an Acre with two Units! Perched atop a hill on a quiet street, in prime "North-of-York" Highland Park, this park-like property spans over 23,000 SF-- a rare combination of privacy, usable outdoor space and longterm flexibility in one of Northeast LA's most sought-after neighborhoods. Enjoy a peaceful, country-like setting in the middle of the city, with western views stretching to Griffith Park, Century City and beyond. Watch the city lights twinkle from the front porch, which overlooks a large front yard. The sloped back hill is ideal for terracing or an urban farm. Two homes on one lot: Front House--a charming (1069 sq ft)CA bungalow with 2 cozy bedrooms and full bath. Move in ready, live here while you build your dream home or renovate to make it your own. Back Unit--a (450 sq ft) studio loft with full kitchen, bath and wraparound deck overlooking Debs Park and your private hillside park-like grounds. Room to expand, build anew , or simply enjoy as-is, this expansive lot offers an exceptional setting for gardens, entertaining, or redevelopment---just blocks from the restaurants and shops of York Blvd, surrounded by the character and energy that make Highland Park one of LA's premier neighborhoods. Bring your vision---this is a rare chance to make it your own sanctuary.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,469 | 1,664.159 |
| Lot Size | 23,940 | 6,066.556 |
| Price | $1.30M | $1.35M |
| Price per sq ft | $884 | $806 |
| Built year | 1937 | 1939 |
| HOA | $0 | $278 |
| Days on market | 42 | 55 |
Jul 29, 2026
$1,299,000
Initial Listing
Sep 11, 2003
$386,000
Public Record
Aug 2, 2002
$295,000
Public Record