240 N Avenue 49, Los Angeles, California 90042, Los Angeles, 90042 - 2 bed, 1 bath
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Los Angeles, California 90042
This Highland Park Value-Add Bungalow presents a High-Potential Investment Opportunity with a List Price of $734,000—positioned well below the $834,261 Fair Market Value by 12%. This valuation gap offers $100,261 in Instant Equity for buyers ready to address the home's Condition Rating of 4. Situated on a generous 6,570 sq ft lot, the property provides significant upside through a potential ADU addition or expansion in a high-demand neighborhood. This is a strategic acquisition for Fix-and-Flip Investors or Owner-Occupants seeking to manufacture appreciation.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 240 N Avenue 49 Subject | $734,000* List Price | 2 | 1 | 1,041 | $801 | - |
A 459 Holland Avenue Sold | $740,000 | 3 | 1 | 1,125 | $658 | 0.5 mi |
B 322 N Avenue 56 Sold | $830,000 | 2 | 1 | 936 | $887 | 0.7 mi |
C 5206 Raphael Street Sold | $803,000 | 2 | 1 | 1,040 | $772 | 0.6 mi |
D 231 S Avenue 58 Active | $810,000 List Price | 3 | 3 | 1,088 | $744 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
This 1925 bungalow is described as needing 'TLC' and is positioned as a value-add renovation project. While the layout is functional and the home features wood and laminate flooring, the kitchen and bathroom are outdated and the property shows signs of deferred maintenance consistent with a home that has not undergone a major renovation in over 20 years.
The generous 6,570 sq ft lot is significantly larger than average for the area, providing ample space for a potential ADU addition or a substantial home expansion.
Situated in a highly desirable and trendy neighborhood, the property offers excellent walkability to local shops, cafes, and restaurants with easy freeway access.
As a classic 1925 bungalow needing TLC, this property presents a significant opportunity for investors or owner-users to build equity through strategic renovations.
The property is noted as needing 'TLC,' implying that immediate capital improvements and repairs are necessary to bring the home to modern standards.
At just 1,041 square feet with only one bathroom, the current configuration may be too small for many modern buyers without a costly expansion.
Charming Highland Park bungalow with plenty of room to grow! This 1,041 sq ft home offers 2 bedrooms, 1 bathroom, a comfortable living area, and a functional layout ready for your personal touch. Wood and laminate flooring add warmth and character throughout the home. Situated on a generous 6,570 sq ft lot, the property features a long driveway and spacious backyard with great potential for outdoor living, entertaining, or the possible addition of an ADU. Conveniently located between local shops, restaurants, cafes, and easy freeway access. Needs some TLC, but this home offers tremendous upside and value-add potential. Renovate, expand, or reimagine the space and make it your dream home! **MULTIPLE OFFERS RECEIVED. OFFERS DEADLINE 03/23/26 5PM.**
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 29% |
| Baths | 1.0 | 2.0 | 25% |
| Square foot | 1,041 | 1,412 | 22% |
| Lot Size | 6,570 | 5,424 | 71% |
| Price | $734.0K | $1.23M | 6% |
| Price per sq ft | $705 | $890 | 26% |
| Built year | 1925 | 1924 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 37 | 175 | 2% |
Mar 16, 2026
$734,000
Initial Listing
Oct 20, 2006
$435,000
Public Record