
Los Angeles, California 90042
Analysis of 1842 Phillips Way, Los Angeles, California 90042 is currently available with a list price of $1,579,000. 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.
Built in 1937, this property is significantly dated and marketed primarily for its land value and 'potential.' While the interior appears clean and livable, the aerial images show a roof with visible wear and patching, and the interior features like the wood-frame windows and DIY-style loft stairs suggest systems and finishes are well over 20 years old and require modernization.
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.
The property sits on a rare, park-like lot of over 23,000 square feet, offering unparalleled privacy and significant potential for expansion or redevelopment in a high-demand urban area.
Featuring a main residence and a separate guest house (permitted as a duplex), the property provides immediate flexibility for rental income, multi-generational living, or a dedicated creative workspace.
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.
With only 1,469 square feet of living space divided between two structures, the property may feel undersized for buyers seeking a substantial primary residence at this price point.
Dating back to 1937, the structures likely require significant capital investment to modernize aging systems and finishes to meet contemporary standards.
Rare opportunity to own an oversized Highland Park property with exceptional potential on approximately half an acre of land. Perched on top of a hill and set on a quiet street, this property in prime "North-of-York" Highland Park has a park-like lot which totals over 23K SF. Situated in one of Northeast LA's most sought-after neighborhoods, offers a unique combination of privacy, usable outdoor space, multiple structures, and future flexibility rarely found in the area. The property includes a main residence plus additional guest house, property records says duplex, creating immediate possibilities for multi-generational living, rental income, creative workspace, or compound-style use. The expansive lot provides an incredible setting for gardens, entertaining, expansion, or redevelopment opportunities. Surrounded by the character, culture, and energy that have made Highland Park one of Los Angeles' premier neighborhoods, this property offers a rare chance to secure a large landholding with both present utility and long-term upside. Properties of this size and versatility rarely come to market. Blocks away from all the restaurants and shops York has to offer. Main House is 2/1 CA bungalow with front porch overlooking large front yard and views to Griffith Park. Guest House is attached to garage w Open Loft, full kitchen and bath and wrap around deck overlooking private park like setting with views of Highland Park.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 36% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,469 | 1,351 | 54% |
| Lot Size | 23,940 | 5,712.5 | 98% |
| Price | $1.58M | $1.20M | 83% |
| Price per sq ft | $1.1K | $898 | 79% |
| Built year | 1937 | 1924 | 63% |
| HOA | $0 | $0 | 50% |
| Days on market | 9 | 124 | 1% |
May 28, 2026
$1,579,000
Initial Listing
Sep 11, 2003
$386,000
Public Record
Aug 2, 2002
$295,000
Public Record