3131 & 3135 Oakcrest Drive, Los Angeles, California 90068, Los Angeles, 90068 - 6 bed, 4 bath

3131  home-pic-0
ACTIVE$975,000
3131 & 3135 Oakcrest Drive, Los Angeles, California 90068
6Beds
4Baths
4,392Sqft
7,071Lot
Year Built
1928
Close
-
List price
$975K
Original List price
$2.5M
Price/Sqft
$222
HOA
-
Days on market
-
Sold On
-
MLS number
25487539
Home ConditionPoor
Features
Good View: Pool
Pool
Patio
ViewPool

About this home

We found 3 Cons,5 Pros. Rank: price - $975.0K(5th), sqft - 4392(92th), beds - 6(97th), baths - 4(65th).

Worldbid Auction October 21 2025 Noon. Bidders whose bids are within the top 50% by price will be notified to submit the Final sealed bid on October 21, 2025 and their Final bid is due no later than October 22 Noon 2025. The Successful Bider will be notified on October 22, 2025 no later than 3pm they have been awarded the Property. Buyer's may obtain financing, though financing is not a contingency to close. A Buyer may elect to submit a Pre-Auction rather than participate in Auction bidding.* Pre auction offers may be submitted on a standard CAR (California Association of Realtors) purchase contract. Pre-Auction offers may have any contingency a buyer requests. The Pre Auction offer must be submitted no later than October 7, 2025 and the following occurs: The buyers offer is accepted by the seller and the buyer closes on the purchase of the property not later than October 14th, 2025OR The buyer's contingencies are removed no later than October 14th, the buyer's deposit becomes non-refundable and is released to the seller. No exceptions to the date deadlines will be accepted.The buyer must provide a 10% deposit with their offer, proof of funds to close the purchase and a lender approval letter (if applicable). Proof of funds to close and/or a lender's approval letter are required with your bid. You may conduct your inspections anytime. Both properties are sold together.********Asking Price is the Starting Bid Amount. Trust Sale. No Court Confirmation required, contact Premiere Estates for bidding info. ******** For sale AFTER 55 years! Unique opportunity to own 2 adjacent parcels with 2 separate homes in Hollywood Hills. List price is for both houses together. 3131 Oakcrest Ave is a 1 bed, 1 bath approx. 950 SF living area on a 3,559 lot SF, and a refreshing pool. 3135 Oakcrest Ave is an Spanish Style 5-bed, 3-bath home approx. 3,442 SF living area on a 3,512 lot SF. Basement in 3135 was converted into living unit, without permits. Both properties are being sold together as currently they share all utilities. All utilities are connected to the 3135 house. Unique opportunity for an investor to live in one house, and rent/AirBnB the other. Or separate the utility services and potentially realize substantial income/capital gain benefits. Just minutes from Universal Studios, Runyon Canyon, and everything Iconic Hollywood has to offer. Sold AS IS and WHERE IS, with all faults, and without warranty, express or implied. Buyer to independently verify the accuracy of the square footage, bedroom/bathroom count, lot size or lot lines/dimensions, permitted or un-permitted spaces. Seller will not be responsible for any repairs, inspection reports, termite work, trash out, and mandatory government retrofit requirements prior to close. Seller is an independent fiduciary and cannot make any representations as to the condition, history of the subject property. Buyer to conduct their own investigations.

Price History

Date
Event
Price
09/16/25
Price Change
$975,000-30.4%
08/04/25
$1,400,000
01/27/25
$2,500,000
Condition Rating
Poor

Built in 1928, this property is being sold 'AS IS' with explicit disclaimers regarding repairs, inspections, and unpermitted work (basement conversion). The main house features a severely outdated kitchen with red tiled countertops, old cabinets, and black and white checkered flooring, indicating a lack of significant renovation for many decades. While one of the units shows more recent, albeit basic, updates like wood-look laminate flooring and newer kitchenette cabinets, the overall condition of the property, especially the primary residence, suggests substantial deferred maintenance and a need for extensive repairs and rehabilitation. The dated bathrooms with green fixtures further reinforce the need for major updates to meet current standards.
Pros & Cons

Pros

Dual Property & Income Potential: The sale includes two adjacent parcels with separate homes, offering versatile options for rental income, AirBnB, or multi-generational living, with potential for increased value through utility separation.
Prime Hollywood Hills Location: Situated in a highly desirable area, minutes from iconic Hollywood attractions like Universal Studios and Runyon Canyon, ensuring strong market appeal and convenience.
Significant Value Proposition: Listed as a starting bid of $975,000, a substantial reduction from the original $2.5 million, presenting a compelling investment opportunity for a savvy buyer.
Private Pool Amenity: One of the properties features a refreshing pool, adding a desirable lifestyle element and enhancing its attractiveness to potential tenants or residents.
Unique Investment Opportunity: A rare offering of two distinct properties on separate lots in a sought-after location, providing diverse strategies for investors or owner-occupants to maximize returns.

Cons

Unpermitted Construction & Shared Utilities: The property includes an unpermitted basement conversion and shared utilities between the two homes, necessitating significant buyer investment for legalization and separation.
Strict 'As-Is' Sale Condition: Sold strictly 'as-is, where-is' with no seller responsibility for repairs, inspections, or retrofits, indicating potential for substantial unforeseen expenses and buyer risk.
Challenging Auction & Financing Terms: The Worldbid Auction process, tight pre-auction deadlines, and non-contingent financing for auction bids create a complex and demanding acquisition process.

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