
Los Angeles, California 90003
This Residential Income Duplex represents a High-Potential Investment Opportunity, listed at $700,000—positioned well below the $805,446 Fair Market Value by 13%. This valuation gap provides $105,446 in Instant Equity. Featuring LAR2 Zoning and two detached units, the property offers significant rental versatility. While the Condition Rating of 4 reflects vintage 1924 infrastructure, recent roof improvements provide a solid foundation. This asset is ideal for Buy-and-Hold Investors or Owner-Occupants seeking to offset mortgage costs through rental income.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 506 E 62nd Street Subject | $700,000* List Price | 0 | 0 | 1,966 | $410 | - |
A 138 W Gage Avenue Sold | $755,000 | 0 | 0 | 1,680 | $449 | 0.5 mi |
B 204 E Gage Pending | $780,000 List Price | 0 | 0 | 2,014 | $387 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1924 with a newer roof (2 years). While the bathrooms and flooring have been updated, the finishes are dated (15-20+ years), featuring basic oak cabinetry and large floor tiles. The presence of wall heaters and portable AC units indicates a lack of modern central HVAC systems.
The property features two completely separate homes on a single lot, providing superior privacy and marketability for tenants or multi-generational families compared to traditional attached duplexes.
A newer roof installed approximately two years ago and updated bathrooms reduce immediate capital expenditure requirements and enhance the property's overall value.
With a 3-bedroom front unit and a 2-bedroom rear unit on an LAR2 lot, the property offers excellent flexibility for house-hacking or maximizing cash flow in a high-demand rental market.
Built in 1924, the property may have aging underlying systems such as plumbing, electrical, or foundation components that often require ongoing maintenance in vintage homes.
The absence of central cooling systems or comprehensive energy-efficient upgrades may limit the ability to command premium rents during peak summer months in Los Angeles.
Excellent opportunity to own two detached homes on one lot in the heart of Los Angeles. Offering approximately 1,966 square feet of living space on a 5,401 square foot lot, this versatile duplex is ideal for investors, multigenerational living, or buyers looking to live in one unit while renting out the other. The front home features 3 bedrooms and 2 bathrooms, while the rear unit offers 2 bedrooms and 1 bathroom. Both units have their own private parking areas, creating additional convenience and privacy for tenants or owner-occupants alike. The property also features a long driveway, a storage shed in the rear, and a newer roof installed approximately 2 years ago. Inside, you’ll find spacious layouts, updated bathrooms, laminate flooring, and plenty of potential to personalize or improve over time. Whether you are looking to expand your investment portfolio, generate rental income, or offset your mortgage with additional income, this property offers flexibility and long-term upside potential. Conveniently located less than 5 miles from SoFi Stadium with easy access to major freeways, shopping, dining, entertainment, and LAX, this property is positioned in an area with strong rental demand and excellent accessibility throughout Los Angeles. The property is zoned LAR2 and consists of two legal units, making it an attractive opportunity for both seasoned and first-time investors.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 1,966 | 2,120 | 46% |
| Lot Size | 5,403 | 5,206 | 73% |
| Price | $700.0K | $755.0K | 30% |
| Price per sq ft | $356 | $356 | 50% |
| Built year | 1924 | 1927 | 46% |
| HOA | $0 | $0 | 50% |
| Days on market | 5 | 197 | 3% |
Jun 1, 2026
$700,000
Initial Listing
May 14, 2003
$239,000
Public Record
Jan 18, 2002
$85,500
Public Record
Aug 23, 1999
$220,000
Public Record