2618 Gleason, Los Angeles, California 90033, Los Angeles, 90033 - 3 bed, 1 bath
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Los Angeles, California 90033
This Historic Boyle Heights Value-Add Asset is listed at $640,000, reflecting a stable valuation relative to its $598,712 Fair Market Value. Carrying a Condition Rating of 5, the property requires a comprehensive rehabilitation of its 1885 systems but offers significant upside through its 5,752 sqft lot and ADU development potential. Recent cosmetic updates provide a baseline for transition. Located in the Los Angeles Unified district near Downtown LA and USC Medical Center, this property is a strategic acquisition for Fix-and-Flip Investors or Developers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2618 Gleason Subject | $640,000* List Price | 3 | 1 | 1,033 | $580 | - |
A 2618 Gleason Avenue Sold | $600,000 | 3 | 1 | 1,033 | $581 | 0.0 mi |
B 346 N Fickett Street Active | $699,999 List Price | 2 | 1 | 1,228 | $570 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Originally built in 1885, this property is explicitly marketed as a 'value-add' investment opportunity for flippers and developers. While it features recent cosmetic improvements such as fresh interior paint, new bedroom flooring, and a new water heater, the extreme age of the structure and the agent's suggestion to 'reimagine the space entirely' indicate that the core systems (HVAC, electrical, plumbing) and the single bathroom likely require a full rehabilitation to meet modern standards.
Situated in the rapidly evolving Boyle Heights area, the property offers exceptional proximity to Downtown LA, USC Medical Center, and the Arts District, ensuring high demand from commuters and renters.
The generous 5,752 sqft lot provides ample space for expansion or the addition of an ADU, offering investors a rare opportunity to maximize density and appreciation in a high-growth corridor.
With new interior paint, updated bedroom flooring, and a new water heater, the property reduces immediate move-in costs and allows for a faster turnaround to the rental or resale market.
The property was recently sold within the past year on 2026-01-15. The sold price is $600,000.00.
Built in 1885, the property's extreme age likely necessitates significant inspections and potential upgrades to foundational, electrical, and plumbing systems that may exceed cosmetic budgets.
The 3-bedroom, 1-bathroom configuration presents functional obsolescence for modern families, potentially limiting the property's rental yield and marketability compared to homes with a second bath.
Unlock the potential of this promising investment opportunity in the heart of Boyle Heights. 2618 Gleason Ave offers a rare chance to secure property in one of Los Angeles’ most rapidly evolving neighborhoods, just minutes from Downtown LA, USC Medical Center, Arts District, and major transit corridors. Sitting on a generous lot, this property provides excellent upside for investors seeking value-add potential. Whether you’re looking to renovate, expand, or reimagine the space entirely, the location and strong foundation are perfect for long-term growth. The surrounding area continues to benefit from ongoing revitalization, increasing demand for quality housing and rental units. This property has a new water heater, new microwave, new fresh inside painting and new bedroom flooring, that is currently being worked on. With convenient access to freeways, public transportation, schools, and local amenities, this address appeals to both renters and future homeowners. Opportunities at this price point in such a central location are becoming increasingly rare, making this a smart acquisition for investors focused on appreciation and cash-flow potential. Ideal for: buy-and-hold investors, developers, flippers, or anyone looking to capitalize on LA’s strong rental market and neighborhood growth. New floors and painting in rooms will be done, as well as new water heater has been installed.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 1.0 | 2.0 | 42% |
| Square foot | 1,033 | 1,123.5 | 42% |
| Lot Size | 5,752 | 6,389 | 42% |
| Price | $640.0K | $622.5K | 50% |
| Price per sq ft | $620 | $551 | 67% |
| Built year | 1885 | 1926 | 17% |
| HOA | $0 | $0 | 50% |
| Days on market | 0 | 200 | 8% |
Apr 20, 2026
$640,000
Initial Listing
Jan 15, 2026
$600,000
Public Record
Jun 20, 2011
$216,000
Public Record
Mar 24, 1994
$125,000
Public Record