
Los Angeles, California 90039
This Character Hillside Residence is a Strong Value Opportunity, listed at $1,995,000—positioned well below the $2,147,393 Fair Market Value by 7%. This valuation gap provides $152,393 in Instant Equity. Maintaining a Condition Rating of 4 with well-preserved vintage finishes, the home features a rare 9,504 sqft lot with significant ADU potential and 360-degree views of the Silver Lake Reservoir and Downtown skyline. Located in the elite Ivanhoe School District, it offers immediate utility with massive long-term upside. This is an ideal acquisition for Owner-Occupants or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2502 Armstrong Avenue Subject | $1,995,000* List Price | 3 | 2 | 1,979 | $1,085 | - |
A 2315 Cove Avenue Sold | $1,600,000 | 3 | 2 | 1,636 | $978 | 0.5 mi |
B 2608 Ivanhoe Drive Sold | $2,380,000 | 3 | 2 | 1,935 | $1,230 | 0.2 mi |
C 3061 Landa Street Sold | $2,317,000 | 3 | 4 | 1,915 | $1,210 | 0.6 mi |
D 1959 Lucile Avenue Sold | $2,222,000 | 4 | 3 | 1,882 | $1,181 | 0.7 mi |
E 2550 Corralitas Drive Sold | $1,430,000 | 4 | 3 | 1,985 | $720 | 0.6 mi |
F 3414 Fernwood Avenue Sold | $2,047,000 | 3 | 2 | 1,760 | $1,163 | 0.7 mi |
G 2377 Silver Ridge Avenue Active | $1,600,000 List Price | 2 | 3 | 2,167 | $738 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
This 1947 character home is well-maintained and move-in ready, but it primarily features vintage finishes that have not been comprehensively updated. While the kitchen includes some newer stainless steel appliances, the cabinetry and countertops are dated, and the bathroom retains its original mid-century green tile styling. The property shows pride of ownership and regular upkeep, but the kitchen and bathrooms require modernization to meet current luxury standards, fitting the 'Fair' criteria for an aged home with functional but outdated components.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 9504, living area = 1979.
Situated directly across from the Silver Lake Reservoir and within the highly coveted Ivanhoe School District, this property offers an unbeatable location for families and outdoor enthusiasts.
The rare 9,504 sqft lot is exceptionally large for the area, featuring a flat, park-like backyard that provides significant upside for adding a pool, an ADU, or both.
The property's elevated position above street level, while providing privacy and views, likely requires navigating significant stairs for entry, which may be a drawback for some buyers.
Built in 1947, the home features a traditional floor plan with dedicated spaces that may feel restrictive to buyers seeking a modern, open-concept living environment.
Across the street from the Silver Lake Reservoir is this effortlessly cool, character home on a 9,504 sqft lot with a shockingly large backyard. In the Ivanhoe School District and elevated above the street, the home offers both privacy and 360 degree views! Enjoy the views of the Reservoir, joggers and sunsets from the comfort of the picture windows in the living room, views of the San Gabriel Mountains from your backyard and Downtown skyline from upstairs. The floorplan is joyful and reminiscent of a time when dedicated spaces were the norm. Downstairs flows effortlessly from sunlit west-facing living room to formal dining room to eat-in kitchen with attached spacious mudroom + laundry room. Downstairs is completed with a family room and primary suite along with multiple access doors to the backyard. Upstairs are two charming bedrooms each with dormers facing the reservoir. The upstairs bathroom overlooks mountains and the backyard. There is also a large closet that could function as an excellent office. The backyard is remarkable in its size, utility and views. The yard is split into a front and rear section. The front section with brick path surrounded by small trees, foliage and is off the kitchen. Ideal for private dining and entertaining. The rear section is flat, open and park-like with a winding path that takes you past a couple fruit trees and opens to views of Silver Lake and the San Gabriels. Add a pool, build an ADU or both! In 22 years we've yet to come across a lot with this size and potential near the Reservoir. Finally, a two car garage at street level provides storage and EV charging capability. The property is an incredible value with immediate utility and unlimited upside potential.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,979 | 1,643 | 68% |
| Lot Size | 9,504 | 5,407 | 96% |
| Price | $2.00M | $1.47M | 70% |
| Price per sq ft | $1.0K | $1.0K | 45% |
| Built year | 1947 | 1930 | 69% |
| HOA | $0 | $0 | 50% |
| Days on market | 22 | 167 | 1% |
Mar 31, 2026
$1,995,000
Initial Listing
Sep 21, 2022
$1,800,000
Public Record