
Los Angeles, California 90065
This Value-Add Quadruplex Investment presents a High-Potential Investment Opportunity with a List Price of $975,000—positioned well below the $1,120,514 Fair Market Value by 12%. This valuation gap offers $145,514 in Instant Equity for buyers ready to modernize this 1917 asset. Featuring a Condition Rating of 4, the property offers significant upside through the development of ADUs on the oversized 7,080 SF lot and capturing below-market rental increases. Located in high-growth Cypress Park near major freeways, this is a strategic acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-yield house-hack.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2622 Idell Subject | $975,000* List Price | 0 | 0 | 2,208 | $507 | - |
A 3325 Merced Sold | $820,000 | 0 | 0 | 1,532 | $535 | 0.4 mi |
B 2653 Alice Street Sold | $1,045,130 | 0 | 0 | 1,828 | $572 | 0.6 mi |
C 2677 Roseview Avenue Active | $1,099,000 List Price | 0 | 0 | 2,014 | $546 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1917, this property is a century-old structure that has been maintained through regular upkeep and occasional cosmetic updates, such as the installation of newer laminate flooring and interior paint seen in the photos. While the units appear functional and are currently tenant-occupied, the listing's 'value-add' designation and the age of the building suggest that major systems (plumbing, electrical) and exterior elements are outdated and will require modernization to meet current market standards.
The oversized 7,080 SF lot is significantly underutilized, providing a prime opportunity to construct Accessory Dwelling Units (ADUs) in the rear to maximize density and cash flow.
Ideally situated near the 110 and 5 Freeway entrances, the property offers tenants exceptional access to Downtown Los Angeles, Dodger Stadium, and major employment hubs.
With all four units currently leased at below-market rates, the property presents a classic value-add opportunity for an investor to capture significant income growth through renovations.
Built in 1917, the century-old structure likely requires significant capital expenditure for system upgrades, including plumbing, electrical, and structural maintenance.
With a total building size of 2,208 SF, the units average only 552 SF each, which may limit the tenant pool to individuals or couples and cap the maximum achievable rent per unit.
Capturing the rental upside in Los Angeles involves navigating complex rent control ordinances and potential tenant relocation costs, which can delay the implementation of a value-add program.
We are pleased to present 2622 Idell Street, a value-add, 4-unit investment opportunity located in the Cypress Park neighborhood of Los Angeles. Situated on an oversized 7,080 SF lot, 2620 Idell Street is a 2,208 SF apartment building comprised of four one-bedroom/one-bathroom units with below market rents. The large lot is underutilized and presents an opportunity to add square footage by building ADU’s in the rear of the property. 2622 Idell Street is ideally located near the entrance to both the 110 Freeway and the 5 Freeway, giving tenants quick access to all Greater Los Angeles. The central location in Cypress Park allows tenants to easily enjoy many of the main attractions of Los Angeles such as Dodger Stadium, Downtown Los Angeles, Echo Park, the University of Southern California and the Westside of Los Angeles. 2622 Idell Street offers an amazing opportunity for an astute investor or owner-user to implement a value-add program to capture the rental upside along with the possibility of building ADU’s in the rear of the lot to fully maximize the density and potential of the property. Located in one of the most up and coming neighborhoods of Los Angeles with incredibly low inventory available, 2622 Idell Street is positioned well to capture the long-term appreciation and transformation that is underway in the neighborhood.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 2,208 | 1,680 | 75% |
| Lot Size | 7,080 | 6,289.5 | 63% |
| Price | $975.0K | $927.5K | 50% |
| Price per sq ft | $442 | $553 | 25% |
| Built year | 1917 | 1937 | 25% |
| HOA | $0 | $0 | 50% |
| Days on market | 70 | 182 | 25% |
Feb 11, 2026
$975,000
Initial Listing