3242 Dos Palos Drive, Los Angeles, California 90068, Los Angeles, 90068 - 4 bed, 2 bath
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Los Angeles, California 90068
This Traditional Hillside Fixer-Upper represents a High-Potential Investment Opportunity with a List Price of $1,499,995—positioned well below the $1,565,936 Fair Market Value by 4%. This valuation gap provides $65,941 in Instant Equity for buyers ready to modernize this Condition Rating 4 asset. Featuring hillside and city light views, a dual-kitchen layout, and basement expansion potential, the home offers significant forced appreciation. Located near the top-rated Valley View Elementary (Rating 8), it is a prime acquisition for Value-Add Investors or Owner-Occupants seeking a custom renovation project.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3242 Dos Palos Drive Subject | $1,499,995* List Price | 4 | 2 | 2,025 | $773 | - |
A 3471 Oak Glen Drive Sold | $1,420,000 | 3 | 2 | 1,710 | $830 | 0.5 mi |
B 3141 E La Suvida Drive Sold | $1,290,000 | 2 | 3 | 1,816 | $710 | 0.4 mi |
C 3219 Tareco Sold | $1,096,000 | 2 | 2 | 1,230 | $891 | 0.4 mi |
D 3250 Velma Drive Active | $1,500,000 List Price | 3 | 2 | 1,918 | $782 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1954, this property is a classic 'fixer-upper' that appears well-maintained but is significantly outdated. The kitchen features older white appliances, dated tile countertops with wide grout lines, and cabinetry showing visible wear. While the original hardwood floors are a strong feature, the home contains popcorn ceilings, older light fixtures, and a layout that the listing agent describes as a 'rare opportunity to reimagine.' It is move-in ready in a functional sense, but requires substantial cosmetic and likely system updates to meet modern quality standards.
The property features a versatile layout with two kitchens and separate living quarters on the upper and lower levels, making it ideal for multi-generational living or generating rental income.
With an existing unfinished basement level and a foundation of original architectural details, this home offers a rare chance to expand the square footage and build substantial equity through renovation.
Ideally situated in the Hollywood Hills West, the home captures stunning hillside and city light views while providing convenient access to major studios and trendy neighborhoods like Silver Lake and Echo Park.
The property is positioned as a major project for buyers to 'reimagine,' implying that significant capital and time will be needed to update the home to modern standards.
Built in 1954 and marketed as a renovation project, the home likely requires comprehensive updates to its core systems, such as electrical, plumbing, and HVAC, which are common challenges in properties of this vintage.
Step into a rare opportunity to reimagine a character-filled Traditional home with subtle Spanish influences, ideally positioned to capture natural light and hillside views. Featuring classic French doors that open to an expansive balcony, the home offers seamless indoor-outdoor flow and a layout full of potential. The upper level includes two bedrooms, one bathroom, a spacious living room, and kitchen, while the lower level offers an additional two bedrooms, one full bathroom, a bonus room, and a second kitchen creating flexibility for extended living, guests, or potential income use.A standout feature of the property is the existing basement level, offering a unique opportunity for future expansion. Buyers are encouraged to explore the potential to finish this space and further maximize the home's footprint. Located in a centrally positioned Los Angeles neighborhood with convenient access to major studios, dining, and everyday amenities, the property sits within close proximity to Silver Lake, Echo Park, and Atwater Village some of the city's most vibrant and sought-after communities. Original hardwood floors, abundant windows, and charming architectural details provide a strong foundation for a thoughtful renovation. Whether you're an end-user looking to create a custom multi-level residence or an investor seeking a high-upside project, this property presents a rare opportunity to build equity in a prime location. Bring your vision and unlock the full potential of this versatile home.
No exterior & parking available.
Grades K-6 • 0.3 mi
Grades K-5 • 1.7 mi
Grades K-6 • 2.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 57% |
| Baths | 2.0 | 3.0 | 28% |
| Square foot | 2,025 | 2,386 | 37% |
| Lot Size | 5,199 | 7,137 | 20% |
| Price | $1.50M | $1.96M | 27% |
| Price per sq ft | $741 | $891 | 23% |
| Built year | 1954 | 1949 | 58% |
| HOA | $0 | $0 | 50% |
| Days on market | 12 | 196 | 1% |
Apr 10, 2026
$1,499,995
Initial Listing
Aug 9, 2004
$650,000
Public Record