3318 Thelma Avenue, Los Angeles, California 90032, Los Angeles, 90032 - 0 bed, 0 bath
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Los Angeles, California 90032
This duplex represents a High-Potential Investment Opportunity, listed at $699,000—positioned well below the $817,590 Fair Market Value by 14%. This valuation gap offers $118,590 in Instant Equity. With a Condition Rating of 4, the property is functional but offers significant upside through cosmetic updates. Featuring two 2-bedroom units with private outdoor patios, this asset is perfectly suited for Buy-and-Hold Investors or Owner-Occupants seeking to leverage rental income in a high-demand Los Angeles location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3318 Thelma Avenue Subject | $699,000* List Price | 0 | 0 | 1,650 | $496 | - |
A 5141 Oakland Sold | $750,000 | 4 | 3 | 1,764 | $425 | 0.6 mi |
B 4682 Paula Street Active | $764,900 List Price | 0 | 0 | 1,726 | $443 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1950, the property is functional but dated. While some rooms feature newer laminate flooring, the kitchen remains in a highly dated state with cabinetry and tiling likely exceeding 30 years in age. The original hardwood in the hallway shows significant wear, and the exterior shows minor maintenance needs, placing it firmly in the category of needing updates and minor repairs.
The property features two nearly identical 2-bedroom, 1-bathroom units, offering a balanced layout that is ideal for both traditional investors and owner-occupants seeking rental income.
Both units benefit from dedicated outdoor spaces, including a fenced front yard and a private backyard, a rare and highly desirable feature for multi-family properties that enhances tenant retention.
Situated in El Sereno with easy access to Downtown LA, South Pasadena, and major freeways, the property is positioned in a high-demand area with strong long-term appreciation potential.
Since both units are currently tenant-occupied, an owner-occupant may face delays in moving in, and an investor may be limited by existing lease terms regarding immediate rent adjustments.
The shared detached two-car garage and small driveway, accessed via a back alley, may present logistical challenges for multiple vehicles in a two-household setup.
3318 Thelma Ave is a well-maintained duplex in the El Sereno area of Los Angeles, offering two separate 2-bedroom, 1-bath units across 1,650 square feet. Both units are nearly equal in size, making this a balanced setup for an owner-occupant who wants rental income or an investor looking for a turnkey addition to their portfolio. The front unit comes with a fenced front yard, giving tenants private outdoor space and added curb appeal. The back unit has its own backyard, plus a small gated driveway that works well for additional parking or storage. Both units share a detached 2-car garage, which is accessed from the back street/alley. Both units are currently tenant-occupied and the property is in above-average condition throughout. This is a solid income-producing property in a centrally located neighborhood with easy access to Downtown LA, South Pasadena, and the 10 and 710 freeways. Floorplan is an approximation for visualization purposes and not exact.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 5.0 |
| Baths | 0.0 | 3.0 |
| Square foot | 1,650 | 2,250 |
| Lot Size | 4,806 | 5,864 |
| Price | $699.0K | $826.7K |
| Price per sq ft | $424 | $395 |
| Built year | 1950 | 1925 |
| HOA | $0 | $0 |
| Days on market | 40 | 83 |
Jun 12, 2026
$699,000
Initial Listing
Nov 19, 2014
$340,000
Public Record