3132 E 3rd Street, Los Angeles, California 90063, Los Angeles, 90063 - 2 bed, 1 bath
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3132 E 3rd Street
Los Angeles, California 90063
ACTIVE
CONDITION: POOR
2Beds
1Baths
1,046Sq Ft
5,000Lot Size
Property Price
LIST PRICE$696,500
EST. MARKET VALUE
$587,875
18% AboveMARKET VALUE
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $696,500—positioned well above the $587,876 Fair Market Value by -18%. Featuring a 5,000-square-foot lot with LAR2 Zoning, this asset offers significant development potential for ADU expansion. With a Condition Rating of 5, the home requires a comprehensive rehab to modernize its dated interior. This is a strategic acquisition for Fix-and-Flip Investors or Contractors seeking to leverage the property's location near Downtown Los Angeles and major transit corridors.
Estimated Market Value
$587,875
Based on Realkey algorithm analyzing recent comparable sales in Los Angeles.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3132 E 3rd Street Subject 2 bd · 1 ba · 1,046 sqft · $562 | $696,500* List Price | 2 | 1 | 1,046 | $562 | - |
A 1023 Sentinel Avenue Sold 2 bd · 1 ba · 980 sqft · $510 · 1.0 mi | $500,000 | 2 | 1 | 980 | $510 | 1.0 mi |
B 3190 Blanchard Active 3 bd · 1 ba · 1,216 sqft · $502 · 0.8 mi | $610,000 List Price | 3 | 1 | 1,216 | $502 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Poor
TeardownExcellent
Property is extensive renovation needed.
Built in 1921, the property features interior finishes such as wood paneling and Formica countertops that indicate a renovation likely performed 30-50 years ago. The kitchen and bathroom are significantly dated, and given the age of the home without mentioned system upgrades, it requires a comprehensive rehab to address aging infrastructure and aesthetics.
PROSSTRENGTHS & OPPORTUNITIES
- Development Potential
The property is situated on a generous 5,000-square-foot lot with LAR2 zoning, offering significant opportunities for investors or homeowners to explore adding an ADU or multi-unit expansion.
- Strategic Location
Located in the desirable City Terrace neighborhood, the home offers excellent proximity to Downtown Los Angeles, major shopping centers, and the 60 Freeway, making it ideal for commuters.
- Ample Parking and Outdoor Space
The lot provides rare off-street parking for 2–3 vehicles and features functional outdoor living areas, including a ceramic-tiled front porch, private patios, and mature fruit trees.
CONSRISKS & DEFICIENCIES
- Unverified Bonus Space
The property includes a bonus room with an unknown permit status, which could lead to complications during the appraisal process or require additional investment to legalize.
- Dated Interior Finishes
Built in 1921 and featuring older elements like Formica countertops, the home will likely require modernization and cosmetic upgrades to meet contemporary buyer expectations.
About 3132 E 3rd Street
Charming City Terrace Home on a Spacious Lot with LAR2 Zoning! Discover this charming property in the desirable City Terrace neighborhood! Situated on a generous 5,000-square-foot lot, this home offers 2 bedrooms, 1 bathroom, and approximately 1,041 square feet of living space. The home features a functional, well-designed floor plan that offers a comfortable flow between living spaces. The home welcomes you with an inviting front yard and a ceramic-tiled front porch. Inside, you'll find comfortable living and dining areas and a kitchen with Formica countertops. Additional features include a bonus room (permit status unknown), a storage room, outdoor patios, and an orange tree. The spacious lot provides parking for approximately 2–3 vehicles and offers potential opportunities with its LAR2 zoning, subject to verification with the appropriate authorities. Conveniently located near schools, shopping, Downtown Los Angeles, and the 60 Freeway, this property presents an opportunity for homeowners, investors, or buyers looking to explore the possibilities of City Terrace.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1921
- Lot Size
- 5,000 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Los Angeles Unified Schools
First Street Elementary School
Grades K-6 • 0.4 mi
2/10
Euclid Avenue Elementary School
Grades K-5 • 0.5 mi
5/10
Malabar Street Elementary School
Grades K-6 • 0.7 mi
4/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.0 |
| Baths | 1.0 | 2.0 |
| Square foot | 1,046 | 1,670.836 |
| Lot Size | 5,000 | 6,152.156 |
| Price | $696.5K | $1.34M |
| Price per sq ft | $666 | $807 |
| Built year | 1921 | 1941 |
| HOA | $0 | $238 |
| Days on market | 24 | 56 |
Pricing History
Listed for Sale
Oct 16, 2026
$696,500
Initial Listing