
Los Angeles, California 90031
This property presents a High-Potential Investment Opportunity with a List Price of $750,000—positioned well below the $789,351 Fair Market Value by 4%. This valuation gap offers $39,351 in Instant Equity for buyers. Featuring a Condition Rating of 5, the property requires significant rehabilitation, yet the R3-1 Zoning and large lot provide substantial upside for ADU development. This is a strategic acquisition for Buy-and-Hold Investors or Contractors seeking to maximize long-term rental yield in a high-demand Lincoln Heights location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3212 Baldwin Subject | $750,000* List Price | 0 | 0 | 3,900 | $202 | - |
A 3119 Manitou Sold | $615,000 | 0 | 0 | 2,962 | $208 | 0.2 mi |
B 2312 Lincoln Park Active | $525,000 List Price | 0 | 0 | 3,300 | $159 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1913/1930 with no evidence of recent renovations, the property is described as needing 'significant rehabilitation.' Images confirm safety and structural concerns, including visible ceiling cracks, a dilapidated garage, surface-mounted electrical, and extremely dated, poorly maintained kitchens and bathrooms.
The expansive 8,674 sqft R3-1 zoned lot provides a significant value-add opportunity, offering the potential to construct additional dwelling units or ADUs to increase density and cash flow.
Located in the rapidly evolving Lincoln Heights neighborhood, the property sits just 10 minutes from Downtown Los Angeles with convenient access to major freeways and public transportation.
The classic Craftsman-style architecture offers a unique aesthetic appeal that, once restored, provides a competitive edge in the rental market compared to modern, generic apartment blocks.
The property requires significant capital expenditure for repairs and modernization, which may pose a challenge for buyers seeking a turnkey investment or traditional financing.
Subject to the Los Angeles Rent Stabilization Ordinance (RSO) with long-term tenants in place, the property faces restricted immediate rental upside and complex management requirements.
FIXER*** FIXER***FIXER***FIXER*** VIEWING SATURDAY AUGUST 8 11AM TO 11:30 AM Value-Add Fourplex on Large R3-1 Lot in Lincoln Heights Built in 1913, this charming two-story Craftsman-style property has been converted into four one-bedroom, one-bathroom units. Rich in character and architectural appeal, the building presents an exceptional opportunity for investors seeking a value-add asset. The property requires substantial rehabilitation, making it ideal for buyers looking to renovate and maximize its long-term potential. It is subject to Los Angeles rent control, with long-term tenants currently in place, providing stable occupancy while offering future upside. Situated on a generous R3-1 zoned lot, the property may offer the potential to add two ADUs or two additional dwelling units, subject to buyer verification and approval by the City of Los Angeles. Located in the highly desirable Lincoln Heights neighborhood, the property is just 10 minutes from Downtown Los Angeles and enjoys convenient access to major freeways, public transportation, shopping, dining, schools, parks, and other neighborhood amenities. The area is well established and continues to benefit from ongoing investment and redevelopment, making this an attractive opportunity for investors with a vision. Property Highlights: Built in 1913 Two-story Craftsman-style building Four 1-bedroom, 1-bathroom units Significant rehabilitation needed Subject to Los Angeles Rent Stabilization Ordinance (rent control) Long-term tenant occupancy Large R3-1 zoned lot with potential for additional development (buyer to verify) Possible opportunity for two ADUs or two additional units Prime Lincoln Heights location Approximately 10 minutes to Downtown Los Angeles Close to public transportation, shopping, restaurants, schools, parks, and major commuter routes This is a rare opportunity to acquire a classic Los Angeles income property with renovation and development potential in one of the city's historic and evolving neighborhoods. Buyer is advised to independently verify all zoning, development potential, and applicable regulations with the City of Los Angeles.
No exterior & parking available.
Grades K-5 • 0.2 mi
Grades K-5 • 0.3 mi
Grades K-6 • 0.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.6 |
| Baths | 0.0 | 3.0 |
| Square foot | 3,900 | 2,187.451 |
| Lot Size | 8,674 | 5,841.385 |
| Price | $750.0K | $841.5K |
| Price per sq ft | $192 | $385 |
| Built year | 1913 | 1928 |
| HOA | $0 | $0 |
| Days on market | 35 | 85 |
Aug 5, 2026
$750,000
Initial Listing
Apr 8, 2011
$325,000
Public Record