
Los Angeles, California 90011
This Multi-Unit Residential Income Asset represents a Strong Value Opportunity, listed at $899,000—positioned above the $821,034 Fair Market Value. While priced at a premium, the property features R3 Zoning and a versatile layout with a front Craftsman and a rear home, offering significant long-term development potential. With a Condition Rating of 3 and recent capital improvements, it provides immediate rental utility. This property is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking to leverage multi-generational living or supplemental income in a high-density Los Angeles submarket.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 655 E 50th Street Subject | $899,000* List Price | 0 | 0 | 1,836 | $447 | - |
A 288 E 43rd Sold | $686,734 | 0 | 0 | 1,740 | $395 | 0.5 mi |
B 401 E 46th Street Sold | $745,000 | 0 | 0 | 1,460 | $510 | 0.4 mi |
C 1407 E 50th Street Sold | $734,000 | 0 | 0 | 2,141 | $343 | 0.8 mi |
D 1426 E 50th Sold | $725,000 | 0 | 0 | 1,850 | $392 | 0.8 mi |
E 4065 Wall Sold | $875,000 | 5 | 2 | 1,892 | $462 | 0.9 mi |
F 5325 Latham Sold | $760,000 | 5 | 3 | 1,800 | $422 | 0.7 mi |
G 731 E 41st Place Sold | $1,045,000 | 0 | 0 | 2,080 | $502 | 0.7 mi |
H 737 E 47th Street Pending | $749,000 List Price | 0 | 0 | 1,724 | $434 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Although originally built in 1905 and 1947, the property has undergone recent significant renovations including a new kitchen with updated cabinetry and flooring, new windows, and fresh interior paint. With some electrical and plumbing upgrades and a move-in ready interior, it meets the criteria for a well-maintained, functional residence.
The property sits on a substantial 8,261 sqft lot with R3 zoning, providing significant upside for investors or developers looking to increase density in a high-demand Los Angeles submarket.
With a front Craftsman residence and a separate rear building, the layout offers excellent flexibility for multi-generational living or an owner-user looking to generate rental income.
Extensive recent updates including new flooring, fresh interior paint, nine new windows, and partial electrical and plumbing upgrades reduce immediate maintenance needs for the new owner.
The downstairs studio in the rear home is not permitted, which may complicate traditional financing options and poses potential compliance risks for the buyer.
The property is served by public schools with consistently low performance ratings, which may limit appeal for families prioritizing high-quality educational districts.
Historic Craftsman with Multiple Living Spaces & R3 ZoningEnter into a piece of history with this charming Craftsman, originally built in 1905 and lovingly owned by the same family for 85 years. Full of character and opportunity, this unique property offers a front residence plus a separately built rear home with additional living space and two large yard areas.The inviting front house features 2 bedrooms, 1 bathroom, and an additional office just off the entry that was previously used as a bedroom. The spacious living room is filled with natural light and features beautiful windows and a classic pocket door leading to the formal dining room. The dining room offers excellent natural light, new windows, and a built-in glass-front cabinet.The updated kitchen features new cabinetry, flooring, and a large pantry area. A convenient service porch includes a washer/dryer and a new soaking sink. Outside, the expansive rear yard has provided the perfect setting for gatherings and entertaining, with plenty of room to enjoy and personalize.Built by the family in 1947, the rear home offers additional versatility. The upstairs unit features 1 bedroom, 1 bathroom, a kitchen, and living room. The downstairs studio is not permitted and includes a full bathroom. An additional yard area is located behind the rear house.The property is zoned R3 and features numerous recent improvements, including some electrical and plumbing upgrades, new flooring in both homes, nine new windows and new doors in the front house, a new bathroom vanity, and fresh interior paint throughout both homes.With its historic charm, multiple living spaces, generous outdoor areas, three fruit trees, and R3 zoning, this property offers a variety of possibilities for homeowners, extended families, or investors. A special property with a long family history--ready for its next chapter.
No exterior & parking available.
Grades K-5 • 0.1 mi
Grades K-5 • 0.4 mi
Grades K-5 • 0.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.6 |
| Baths | 0.0 | 3.0 |
| Square foot | 1,836 | 2,187.451 |
| Lot Size | 8,261 | 5,841.385 |
| Price | $899.0K | $841.5K |
| Price per sq ft | $490 | $385 |
| Built year | 1947 | 1928 |
| HOA | $0 | $0 |
| Days on market | 13 | 85 |
Aug 27, 2026
$899,000
Initial Listing