
Los Angeles, California 90006
This Prime Investment Opportunity is a remodeled studio condominium listed at $199,900—positioned well below the $204,730 Fair Market Value by 2%. This valuation gap offers $4,830 in Instant Equity. Featuring a Condition Rating of 2, the unit includes modern upgrades like custom cabinetry and stone countertops. Its transit-oriented location near the Metro and USC ensures high rental demand. This is an ideal acquisition for Buy-and-Hold Investors or first-time buyers seeking an affordable, move-in ready foothold in Los Angeles.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2121 James M Wood 312 Subject 0 bd · 1 ba · 370 sqft · $553 | $199,900* List Price | 0 | 1 | 370 | $553 | - |
A 2121 James M Wood 412 Active 0 bd · 1 ba · 370 sqft · $541 | $199,999 List Price | 0 | 1 | 370 | $541 | - |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although the building dates to 1923, the unit has undergone a recent high-quality remodel (likely <5 years) featuring new Pergo flooring, a modern kitchen with custom cabinetry and stone countertops, and updated appliances. The building is seismically retrofitted and the interior is in mint, move-in ready condition.
Priced under $200,000, this property represents a rare entry-level investment or homeownership opportunity in the competitive Los Angeles market, offering significant value for a remodeled unit.
The monthly association fee provides excellent utility by covering all major utilities except cable, alongside access to diverse amenities including a fitness room, library, and billiards.
Situated just two blocks from the Westlake/MacArthur Park Metro station and within 1.5 miles of USC, the property offers premier accessibility for commuters and students.
The building does not include a dedicated parking structure, requiring residents to utilize third-party lots which adds to monthly expenses and daily inconvenience.
At only 370 square feet, the compact studio layout may limit appeal for buyers requiring more living space or long-term storage solutions.
You won't find anything this close to Downtown LA at this price! Charming, beautifully remodeled studio in a historic building, ideally located between Downtown LA and Mid-Wilshire. This inviting third-floor unit features soaring 9-foot ceilings, an open floor plan, durable Pergo flooring, and a remodeled kitchen with custom cabinetry, stone countertops, and an included refrigerator, stove, and microwave. A spacious closet offers versatile potential for a home office or additional storage. The bathroom features a bathtub, while the peaceful courtyard view provides a welcome retreat from the city. Residents enjoy a secured courtyard entrance, elevator access, and multiple staircases. The building has been seismically retrofitted for added peace of mind. Just two blocks from the Westlake/MacArthur Park Metro station, the property is within easy reach of Downtown LA, LA Live, Crypto.com Arena (formerly Staples Center), and FIDM. USC is just 1.5 miles away, with Loyola Law School also nearby. The monthly HOA fee offers exceptional value, covering all utilities except cable, as well as access to community laundry facilities, a library, a piano, billiards and ping-pong tables, bike racks, and a small fitness room. Although there is no on-site parking structure, several third-party parking options are available nearby, including a lot just 900 feet away at 942 S. Alvarado St. The building has no balconies, offering an advantage for financed buyers by avoiding SB 326 inspection requirements and related lending concerns. An exceptional opportunity for first-time homebuyers, students, or anyone seeking an affordable foothold in Los Angeles! With its remodeled interior, convenient transit access, desirable amenities, and central location, this studio offers outstanding value at a price point that is hard to find so close to Downtown LA. Don't miss the opportunity to make this charming studio your own!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 2.0 |
| Baths | 1.0 | 2.0 |
| Square foot | 370 | 1,252.996 |
| Lot Size | 21,313 | 26,029.603 |
| Price | $199.9K | $778.5K |
| Price per sq ft | $540 | $629 |
| Built year | 1923 | 1981 |
| HOA | $389.0 | $676 |
| Days on market | 19 | 74 |
Oct 21, 2026
$199,900
Initial Listing
Apr 21, 2014
$129,000
Public Record
Dec 10, 2012
$109,000
Public Record