
Los Angeles, California 90059
This property presents a High-Potential Investment Opportunity with a List Price of $625,000—positioned well below the $725,000 Fair Market Value by 13%. This valuation gap offers $100,000 in Instant Equity for buyers. Featuring a Condition Rating of 3, the duplex offers immediate rental income and significant upside through approved plans for a 900 SF ADU. This is a strategic acquisition for Buy-and-Hold Investors or Owner-Occupants seeking to leverage density potential on an expansive 8,899 SF lot.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2111 E 118th Street Subject 0 bd · 0 ba · 1,535 sqft · $472 | $625,000* List Price | 0 | 0 | 1,535 | $472 | - |
A 1637 E 115th Sold 0 bd · 0 ba · 1,181 sqft · $470 · 0.7 mi | $555,000 | 0 | 0 | 1,181 | $470 | 0.7 mi |
B 10931 Anzac Sold 0 bd · 0 ba · 1,188 sqft · $522 · 0.7 mi | $620,000 | 0 | 0 | 1,188 | $522 | 0.7 mi |
C 1832 E 108th 2 Active 0 bd · 0 ba · 1,500 sqft · $460 · 0.8 mi | $690,000 List Price | 0 | 0 | 1,500 | $460 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Although built in 1950, the property has undergone partial renovations within the last 5-15 years. The bathroom features modern marble-patterned wall tile and a newer vanity, and the living areas have updated wood-look tile flooring. The kitchen is functional and well-maintained with granite-style countertops, and the units are move-in ready for tenants.
The property comes with LA Housing approved plans for a 900 SF ADU and conceptual plans for up to 5 total units, offering a massive value-add opportunity for investors.
Comprised of two detached 2-bedroom residences with separate gas and electric meters, the property provides immediate cash flow and utility management ease.
The nearly 9,000 SF lot is exceptionally large for the area, providing the necessary footprint for detached living units and future expansion without overcrowding.
A history of five consecutive price drops within 50 days suggests the property was initially overpriced and may still be seeking its true market equilibrium.
While the 3rd unit is approved, the 5-unit conceptual plan is subject to feasibility reviews and governmental approvals, posing a risk to maximum density goals.
OWNER-USER OPPORTUNITY - GREAT INCOME-PRODUCING DUPLEX WITH LA HOUSING APPROVED PLANS FOR 3RD UNIT! Two detached 2-bedroom, 1-bath residences with individual laundry areas situated on an approximately 8,899 SF lot. The property currently generates rental income from both existing residences. Approved plans are in place for an approximately 900 SF, 2-bedroom, 1.5-bath ADU with laundry at the rear of the property. An additional conceptual development scenario explores removal of the existing approximately 366 SF garage and construction of three detached residential units at the rear while retaining both existing residences, potentially resulting in 5 total residential units. The 3 conceptual rear units have been modeled at approximately 900 SF each with 2 bedrooms, 1.5 baths and laundry. Existing property features include separate gas and electric meters serving the two residences and one water meter. Buyer to independently verify permits, approved plans, square footage, zoning, unit configuration and all development possibilities with the appropriate governmental agencies. The ADDITIONAL 3 UNITS -unit rear development concept is not currently approved and is subject to feasibility review and all required governmental approvals. SEE ATTACHED SUPPLEMENTS FOR DETAILS. HOME HAS A SECURITY SYSTEM SO PLEASE DO NOT GO WITHOUT APPOINTMENT.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.7 |
| Baths | 0.0 | 3.0 |
| Square foot | 1,535 | 2,148.648 |
| Lot Size | 8,902 | 5,855.757 |
| Price | $625.0K | $831.8K |
| Price per sq ft | $407 | $387 |
| Built year | 1950 | 1928 |
| HOA | $0 | $0 |
| Days on market | 53 | 87 |
Oct 12, 2026
$625,000
$649,900
-4% Price Drop
Initial Listing
Sep 29, 2026
$649,900
$675,000
-4% Price Drop
Initial Listing
Sep 20, 2026
$675,000
$699,000
-3% Price Drop
Initial Listing
Sep 11, 2026
$699,000
$725,000
-4% Price Drop
Initial Listing
Sep 1, 2026
$725,000
Initial Listing
Jul 11, 2016
$340,000
Public Record
Aug 21, 2009
$118,000
Public Record