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632 E 87th Place, Los Angeles, California 90002, Los Angeles, 90002 - 3 bed, 2 bath

632 E 87th Place, Los Angeles, California 90002 home-pic-0
ACTIVE$600,000
632 E 87th Place, Los Angeles, California 90002
3Beds
2Baths
1,503Sqft
5,321Lot

Price Vs. Estimate

The estimated value ($544,985.99) is $55,014.01 (9%) lower than the list price ($600,000). This property may be overpriced.

Key pros and cons

Top Pros:
Development Potential: The R2-zoned, flat lot of over 5,300 sq ft allows for the development of two units plus an additional ADU, offering significant income generation or expansion opportunities.
Top Cons:
Poor Overall Condition: Built in 1923 and on the market for the first time in over 50 years, the property shows significant age and requires substantial repairs and rehabilitation to meet current living standards.

Compared to the nearby listings

Price:$600.0K vs avg $600.0K (+$0)50%
Size:1,503 sqft vs avg 1,055.5 sqft79%
Price/sqft:$399 vs avg $53213%

More Insights

Built in 1923 (102 years old).
Condition: Built in 1923 and on the market for the first time in over 50 years, this property shows significant age and lack of modern updates. The kitchen features dated cabinets, laminate countertops, a mosaic tile backsplash, and old linoleum flooring, despite some newer appliances. The bathroom is very outdated with a yellow vanity, older sinks, and linoleum flooring. Throughout the house, there are worn carpets, discolored walls, dated light fixtures, and evidence of wall heaters and window AC units, indicating a lack of central HVAC. The property requires substantial repairs and rehabilitation to bring it to current living standards, aligning with the description of it being a 'project' for investors or first-time buyers.
Year Built
1923
Close
-
List price
$600K
Original List price
$700K
Price/Sqft
$399
HOA
-
Days on market
-
Sold On
-
MLS number
SR25223729
Home ConditionPoor
Features
View-

About this home

First Time on the Market in Over 50 Years! This rare opportunity offers tremendous potential for investors and first-time buyers looking for a project. Situated on a flat, R2-zoned lot of over 5,300 sq ft, this property allows for the development of a 2 units plus an additional ADU (please verify with LADBS)—perfect for generating future income or expanding your living space. The existing home spans over 1,500 sq ft and features 3 spacious bedrooms and 2 bathrooms. One bedroom is currently being used as a living area, providing flexible layout options. Additional highlights include an indoor laundry room, bonus office space, and an extra-long paved driveway offering ample parking. Enjoy a fully fenced, oversized backyard—ideal for privacy, entertaining, or relaxation. Centrally located with quick access to public transportation, the 110 and 105 freeways, Downtown LA, USC, USC Medical Center, the KIA Forum, SoFi Stadium, Intuit Dome, and LAX. Also close to Green Meadows Recreation Center, numerous K–12 schools, supermarkets, and the world-famous Roscoe’s Chicken & Waffles. With the 2028 LA Olympics on the horizon, now is the perfect time to invest in this promising property! Special financing maybe available for qualified buyers such as low down payment, no PMI, or credits to closing costs.

Nearby schools

3/10
South Park Elementary School
Public,•K-6•0.3mi
3/10
Ninety-Third Street Elementary School
Public,•K-6•0.5mi
5/10
Russell Elementary School
Public,•K-6•0.7mi
5/10
Ninety-Ninth Street Elementary School
Public,•K-6•0.9mi
3/10
Ninety-Sixth Street Elementary School
Public,•K-6•1.1mi
4/10
One Hundred Seventh Street Elementary School
Public,•K-5•1.4mi
2/10
One Hundred Ninth Street Elementary School
Public,•K-5•1.5mi
3/10
One Hundred Twelfth Street Elementary School
Public,•K-5•1.8mi
4/10
One Hundred Sixteenth Street Elementary School
Public,•K-5•2.1mi
5/10
One Hundred Eighteenth Street School
Public,•K-5•2.2mi
6/10
One Hundred Twenty-Second Street Elementary School
Public,•K-5•2.5mi
1/10
Charles Drew Middle School
Public,•6-8•0.9mi
2/10
Mary Mcleod Bethune Middle School
Public,•6-8•1.4mi
3/10
Edwin Markham Middle School
Public,•6-8•1.6mi
2/10
Samuel Gompers Middle School
Public,•6-8•1.9mi
3/10
Carver Elementary School
Public,•PK-8•2.5mi
5/10
Willowbrook Middle School
Public,•6-8•3.3mi
3/10
John C. Fremont Senior High School
Public,•9-12•0.9mi
2/10
David Starr Jordan Senior High School
Public,•9-12•2.1mi
3/10
Centennial High School
Public,•9-12•3.0mi
9/10
Compton Early College High
Public,•9-12•3.2mi
Condition Rating
Poor
Built in 1923 and on the market for the first time in over 50 years, this property shows significant age and lack of modern updates. The kitchen features dated cabinets, laminate countertops, a mosaic tile backsplash, and old linoleum flooring, despite some newer appliances. The bathroom is very outdated with a yellow vanity, older sinks, and linoleum flooring. Throughout the house, there are worn carpets, discolored walls, dated light fixtures, and evidence of wall heaters and window AC units, indicating a lack of central HVAC. The property requires substantial repairs and rehabilitation to bring it to current living standards, aligning with the description of it being a 'project' for investors or first-time buyers.
Pros & Cons

Pros

Development Potential: The R2-zoned, flat lot of over 5,300 sq ft allows for the development of two units plus an additional ADU, offering significant income generation or expansion opportunities.
Prime Investment Opportunity: Marketed as a 'project' with tremendous potential for investors, especially with the upcoming 2028 LA Olympics, suggesting future appreciation.
Central & Accessible Location: Centrally located with quick access to public transportation, major freeways (110, 105), Downtown LA, USC, and key entertainment/sports venues like SoFi Stadium and the KIA Forum.
Large, Private Backyard: Features a fully fenced, oversized backyard, ideal for privacy, entertaining, or relaxation, adding valuable outdoor living space.
Flexible Interior Layout: The existing home offers flexible layout options, including a bedroom currently used as a living area, an indoor laundry room, and a bonus office space.

Cons

Poor Overall Condition: Built in 1923 and on the market for the first time in over 50 years, the property shows significant age and requires substantial repairs and rehabilitation to meet current living standards.
Outdated Interior & Systems: The kitchen and bathroom are very dated, with old fixtures and finishes, and the property lacks central HVAC, relying on wall heaters and window AC units.
Listing Price Above Estimated Value: The current listing price of $600,000 is 9% higher than the estimated property value of $540,671, which may impact immediate equity for a buyer.

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