1924 Cerro Gordo Street, Los Angeles, California 90039, Los Angeles, 90039 - 2 bed, 2 bath
1924 Cerro Gordo Street
Los Angeles, California 90039
Property Price
SUMMARY
Analysis of 1924 Cerro Gordo Street, Los Angeles, California 90039 reveals a Prime Investment Opportunity with a current list price of $795,000—significantly undercutting the $820,592 Fair Market Value by 3%. This valuation gap indicates a +$25,592 Instant Equity potential for buyers. 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.
Estimated Market Value
Comparable Sales Map
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1924 Cerro Gordo Street Subject | $795,000* List Price | 2 | 2 | 636 | $1,290 | - |
A 1947 Whitmore Avenue Sold | $718,500 | 1 | 1 | 576 | $1,247 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
Property is moderate renovation needed.
The property presents a unique case where aesthetic quality is high, featuring a contemporary kitchen with a premium Wolf range, solar panels, and well-maintained hardwood floors. However, the 1922-built cottage is explicitly listed as requiring a cash buyer to bring the home into compliance with City requirements. This indicates significant underlying legal, structural, or permitting issues that offset the modern interior updates. Per the criteria, it is an aged home with occasional updates but requires specific remediation to meet standards.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Location
Situated in the highly coveted Elysian Heights neighborhood of Silver Lake, the property offers a prestigious address with desirable canyon and hill views.
- Versatile Guest Unit
The separate guest unit featuring its own kitchen space and bathroom provides exceptional flexibility for rental income, a home office, or multi-generational living.
- Character with Modern Upgrades
This 1922 cottage blends original charm like hardwood floors and built-ins with high-end modern features, including a professional Wolf range and energy-efficient solar panels.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 2, other record bedroom count = 1.
- Regulatory Compliance Issues
The property requires significant work to be brought into compliance with City requirements, which may involve complex permitting and additional capital investment.
- Financing Limitations
The requirement for a seasoned cash buyer indicates the property likely will not qualify for traditional mortgage financing due to its current legal or physical status.
About 1924 Cerro Gordo Street
Bright, charming one-bedroom cottage with a bonus guest unit in coveted Elysian Heights. Looking for a seasoned cash buyer to bring this home into compliance with City requirements. The home features hardwood floors, wood windows, soft dappled light, an artful built-in dining room buffet, and a contemporary kitchen anchored by an oversized Wolf range. Property has solar panels and has had updates inside and out over the years. The separate guest unit includes a sleeping alcove, bath, kitchen space, and living area, adding exceptional flexibility. Designed for both privacy and entertaining, the property offers a fenced and gated backyard and patio.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1922
- Lot Size
- 3,539 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 2 (2 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 | 27% |
| Baths | 2.0 | 3.0 | 47% |
| Square foot | 636 | 1,672 | 2% |
| Lot Size | 3,539 | 5,404 | 11% |
| Price | $795.0K | $1.58M | 3% |
| Price per sq ft | $1.2K | $1.1K | 81% |
| Built year | 1922 | 1929 | 11% |
| HOA | $0 | $0 | 50% |
| Days on market | 25 | 163 | 3% |
Pricing History
Listed for Sale
Feb 9, 2026
$795,000
Initial Listing
Sold
Mar 2, 1998
$155,000
Public Record