321 E 119th St, Los Angeles, California 90061, Los Angeles, 90061 - 3 bed, 2 bath
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Los Angeles, California 90061
This property presents a Strong Value Opportunity with a List Price of $649,900—positioned well below the $686,413 Fair Market Value by 5%. This valuation gap offers $36,513 in Instant Equity for buyers. With a Condition Rating of 4, the home requires significant updates, yet the large 5,770 sq. ft. lot and detached garage provide excellent ADU potential. This is a high-reward acquisition ideal for Buy-and-Hold Investors or first-time buyers utilizing down payment assistance programs to build long-term wealth.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 321 E 119th St Subject | $649,900* List Price | 3 | 2 | 1,452 | $473 | - |
A 143 W 110th Street Sold | $635,000 | 3 | 1 | 1,264 | $502 | 0.9 mi |
B 126 E 118th Place Sold | $600,000 | 3 | 2 | 1,718 | $349 | 0.2 mi |
C 329 E 109th Sold | $500,000 | 3 | 2 | 1,142 | $438 | 0.9 mi |
D 331 E 119th Street Sold | $613,500 | 4 | 2 | 1,800 | $341 | 0.0 mi |
E 351 E 124th Active Under Contract | $589,900 List Price | 3 | 2 | 1,136 | $519 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1926, the property shows signs of partial renovations (laminate flooring and a bathroom update) likely performed 15-25 years ago. However, the listing explicitly states the home 'requires repairs and updating' and is positioned as a value-add opportunity, indicating it is dated and needs more than just cosmetic maintenance.
The detached two-car garage and spacious 5,770 sq. ft. lot offer significant potential for an Accessory Dwelling Unit (ADU), providing an excellent opportunity for multi-generational living or rental income.
The property features an extended driveway and a detached garage, offering generous parking capacity for multiple vehicles, which is a premium convenience in the Los Angeles area.
Eligibility for the 'Dream For All' and other down payment assistance programs makes this property highly attractive to first-time buyers looking to reduce upfront acquisition costs.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =5770, other record lot size in square feet = 5838.
The home requires significant repairs and updating throughout, which will necessitate additional capital investment and time from the buyer post-purchase.
Originally built in 1926, the property may have outdated electrical, plumbing, or structural components that could lead to higher maintenance costs or required modernizations.
Welcome to 321 E 119th St, Los Angeles, CA 90061, a great opportunity in South Los Angeles offering strong potential for both owner-occupants and investors. This three-bedroom, two-bath home features approximately 1,452 sq. ft. of living space on a 5,770 sq. ft. lot built in 1926. The property includes a detached two-car garage and an extended driveway providing generous off-street parking with ample space for multiple vehicles. The garage offers additional storage or workspace potential and may offer ADU potential (buyer to verify). The home requires repairs and updating, making it ideal for buyers looking to add value and customize. Conveniently located near schools, shopping, and major freeways. This home may qualify for the Dream For All program and other down payment assistance programs, FHA 203K Renovation Financing Options offering a great opportunity for eligible buyers to achieve homeownership with reduced upfront costs.
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 | 1.0 | 57% |
| Square foot | 1,452 | 1,135.5 | 80% |
| Lot Size | 5,770 | 5,683 | 60% |
| Price | $649.9K | $624.2K | 57% |
| Price per sq ft | $448 | $534 | 33% |
| Built year | 1926 | 1948 | 30% |
| HOA | $0 | $0 | 50% |
| Days on market | 11 | 187 | 3% |
May 26, 2026
$649,900
Initial Listing
Nov 28, 2022
$580,000
Public Record
May 5, 2000
$129,000
Public Record