516 E 23rd, Los Angeles, California 90011, Los Angeles, 90011 - 2 bed, 1 bath
Loading property details...
516 E 23rd
Los Angeles, California 90011
ACTIVE
CONDITION: POOR
2Beds
1Baths
888Sq Ft
8,497Lot Size
Property Price
LIST PRICE$710,000
EST. MARKET VALUE
$757,331
6% BelowMARKET VALUE
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $710,000—positioned well below the $757,331 Fair Market Value by 6%. This valuation gap offers $47,331 in Instant Equity for buyers. With a Condition Rating of 5, the home requires a full rehab, but the 8,497 sq. ft. lot provides significant Development Potential for ADUs or expansion. This is a high-reward acquisition ideal for Fix-and-Flip Investors or Contractors seeking a value-add project near Downtown LA.
Estimated Market Value
$757,331+$47,331 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Los Angeles.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 516 E 23rd Subject | $710,000* List Price | 2 | 1 | 888 | $853 | - |
A 223 E 28th Active | $899,999 List Price | 2 | 1 | 1,016 | $886 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Poor
TeardownExcellent
Property is extensive renovation needed.
Built in 1903 and sold in 'AS-IS' condition, this property is marketed primarily as an investment opportunity with a focus on the large lot size. Given the age (>120 years) and lack of mentioned renovations to the kitchen, bath, or major systems, the home likely requires a full rehab to address significant dating and potential structural/systemic needs.
PROSSTRENGTHS & OPPORTUNITIES
- High Available Lot Utilization
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8497, living area = 888.
- Development Potential
The expansive ~8,500 sq. ft. lot is significantly larger than average for the area, providing a prime opportunity for ADU construction, property expansion, or complete redevelopment.
- Strategic Location
Located just 8 minutes from Downtown Los Angeles with immediate access to the 110, 10, and 5 freeways, this property offers exceptional connectivity for commuters and urban professionals.
CONSRISKS & DEFICIENCIES
- As-Is Condition
Built in 1903 and sold in its present 'as-is' condition, the property likely requires substantial capital investment for structural repairs, system updates, or modernization.
- Limited Living Space
The existing 888 sq. ft. structure with only two bedrooms and one bathroom is quite small, which may limit its immediate appeal to owner-occupants without further expansion.
About 516 E 23rd
Excellent investment opportunity in the heart of Los Angeles! This 2-bedroom, 1-bathroom home sits on a HUGE approximately 8,000 sq. ft. Lot, offering plenty of potential for an investor or buyer. The property is conveniently located approximately 8 minutes from Downtown Los Angeles, with easy access to the 110, 10, and 5 freeways. Close to shopping centers, dining, and more. Property is being sold in its present AS-IS condition. Buyer and buyer’s agent are advised to independently verify all information, including property details, permits, zoning, and property square footage.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1903
- Lot Size
- 8,497 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Los Angeles Unified Schools
Twenty-Eighth Street Elementary School
Grades K-5 • 0.4 mi
3/10
San Pedro Street Elementary School
Grades K-5 • 0.5 mi
5/10
Dolores Huerta Elementary School
Grades K-5 • 0.5 mi
5/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.0 |
| Baths | 1.0 | 2.0 |
| Square foot | 888 | 1,664.159 |
| Lot Size | 8,497 | 6,066.556 |
| Price | $710.0K | $1.35M |
| Price per sq ft | $800 | $806 |
| Built year | 1903 | 1939 |
| HOA | $0 | $278 |
| Days on market | 23 | 55 |
Pricing History
Listed for Sale
Aug 17, 2026
$710,000
Initial Listing
Sold
Dec 7, 2023
$450,000
Public Record
Sold
May 4, 2007
$440,000
Public Record
Sold
Dec 5, 2006
$312,000
Public Record
Sold
Feb 22, 2005
$35,000
Public Record