220 E Avenue 38, Los Angeles, California 90031, Los Angeles, 90031 - 2 bed, 1 bath
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Los Angeles, California 90031
This Value-Add Residential Asset is listed at $649,900, currently positioned above the $574,727 Fair Market Value. While the price reflects the high-demand Montecito Heights market, the Condition Rating of 4 indicates significant opportunity for forced appreciation through modernization of its Century-Old Infrastructure. The property features a versatile converted attic den, mountain views, and a fenced back patio. Located minutes from Highland Park and Dodger Stadium, the home offers strong rental demand. This is a strategic acquisition for Value-Add Investors or first-time buyers looking to build equity in a high-growth Los Angeles neighborhood.
Property is moderate renovation needed.
The property is over 100 years old with interior updates (flooring, kitchen cabinets, and bathroom) that appear to be 15-25 years old. While functional and featuring a modern tankless water heater, the home is dated with popcorn ceilings, wall-mounted heating, and window AC units, requiring cosmetic and system modernizations.
Situated in the desirable Montecito Heights area, the property offers exceptional proximity to Highland Park's trendy amenities, Dodger Stadium, and major transit corridors like the I-5 and SR-2.
The inclusion of a converted attic den provides valuable flexible square footage that can serve as a home office or creative studio, maximizing the utility of the home's footprint.
With a recent price reduction and a layout conducive to improvements, this property presents a strong opportunity for investors or first-time buyers to build equity in a high-demand neighborhood.
At only 780 square feet, the living space is relatively compact, which may limit its appeal to buyers seeking more spacious accommodations or larger families.
Built in 1910, the property may require significant capital expenditure for modernizing older systems or structural elements typical of homes from this era that have not been fully overhauled.
Great investment opportunity in a desirable Los Angeles location! This 2-bedroom, 1-bath property offers strong potential for investors, first-time buyers, or those looking to add value. The home features a spacious living room, functional kitchen, indoor laundry area, and an attic converted into a versatile den that can be used as a home office, creative space, or additional living area. Additional highlights include a tankless water heater, fenced back patio for outdoor enjoyment, and convenient front parking. The layout and existing features offer flexibility for future improvements or rental potential. Ideally located approximately 3 miles from Highland Park—a vibrant and growing neighborhood known for its restaurants, cafes, and boutique shops. Less than 4 miles from Dodger Stadium and about 4 miles from popular attractions such as Griffith Park and the iconic Hollywood Sign. The property also offers convenient access to Interstate 5 and California State Route 2, making commuting to Los Angeles and surrounding areas easy. With proximity to major attractions, entertainment venues, and outdoor recreation, this property presents an excellent opportunity for long-term rental income, value appreciation, or a strategic addition to your investment portfolio.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 23% |
| Baths | 1.0 | 2.0 | 23% |
| Square foot | 780 | 1,335 | 8% |
| Lot Size | 3,150 | 4,940.5 | 8% |
| Price | $649.9K | $932.0K | 12% |
| Price per sq ft | $833 | $727 | 69% |
| Built year | 1910 | 1926 | 27% |
| HOA | $0 | $0 | 50% |
| Days on market | 39 | 167 | 4% |
Apr 20, 2026
$649,900
$679,900
-4% Price Drop
Initial Listing
Mar 14, 2026
$679,900
Initial Listing
Sep 28, 2010
$200,000
Public Record
Feb 27, 2002
$136,000
Public Record