708 W 40th, Los Angeles, California 90037, Los Angeles, 90037 - 0 bed, 0 bath
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Los Angeles, California 90037
This Residential Income Duplex is a High-Potential Investment Opportunity, listed at $699,000—positioned well below the $885,007 Fair Market Value by 21%. This significant valuation gap provides $186,007 in Instant Equity. Maintaining a Condition Rating of 3, the asset features a 2024 roof, copper plumbing, and updated electrical. Located in a Qualified Opportunity Zone with LARD1.5 Zoning near USC, it offers substantial development upside and a downtown skyline view. This is a strategic acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-yield house-hack.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 708 W 40th Subject | $699,000* List Price | 0 | 0 | 2,295 | $386 | - |
A 1361 W Vernon Avenue Sold | $690,000 | 0 | 0 | 1,892 | $365 | 0.9 mi |
B 1323 W 41st Sold | $699,998 | 0 | 0 | 1,807 | $387 | 0.7 mi |
C 736 W 41st Place Active | $875,000 List Price | 0 | 0 | 2,369 | $369 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While the structure dates to 1910, the property has undergone significant recent system upgrades including a new roof (2024), updated electrical panels (2023), and copper plumbing. The kitchen and interior finishes appear functional and well-maintained; although stylistically dated, the major capital improvements and fresh exterior paint make it move-in ready.
Situated within walking distance of USC, the Coliseum, and the Expo Line, this property is perfectly positioned to capture consistent demand from students, faculty, and commuters.
The property features a new roof (2024), copper plumbing, updated electrical panels (2023), and fresh exterior paint, significantly reducing immediate CAPEX requirements for a new owner.
Located in a Qualified Opportunity Zone with LARD1.5 zoning, the property offers significant tax advantages and the flexibility for future expansion or densification.
Originally built in 1910, the building may present long-term maintenance challenges or layout inefficiencies common to older vintage properties despite recent system updates.
The majority of the assigned public schools carry low ratings (1-3), which may limit the property's appeal to long-term family tenants and impact broader residential resale value.
Don’t miss this chance to capitalize on a high-demand rental market and the benefits of building in a Qualified Opportunity Zoned at LARD1.5, offering the flexibility to grow or modernize the building further. Well-maintained property. The roof was replaced in 2024, Copper Plumbing throughout , exterior painted in 2024, and updated electrical panels in both apartments in 2023. Separate gas and electric meters. Just a 5-minute walk from the BMO soccer stadium and the Coliseum, a 7-minute walk from the highly anticipated Lucas Museum of Narrative Art, the Natural History Museum and the California Science Center, and a 10-minute walk from USC and the Expo Line Station, which goes directly to downtown L.A. and to Santa Monica. The Coliseum will also be one of the venues for the 2028 Olympics. Quick access to the 10 & 110 Freeways makes commuting a breeze. 20 minutes from LAX. Downstairs unit: 708 W. 40th Pl features: Spacious and bright living room, 4 large sized bedrooms and 2 full bathrooms, In unit laundry. Upstairs unit: 708 ½ W. 40th Pl features: 3 large sized Bedrooms and 1full and spacious bathroom, In unit laundry area. Efficient ceiling fans in every bedroom. 7 car spaces available in the rear. The building is secured with an iron fence and controlled access via remote entry, enhancing tenant appeal and retention.
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades K-5 • 0.5 mi
Grades K-5 • 0.6 mi
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 | 2,295 | 1,958 | 61% |
| Lot Size | 5,400 | 5,388.5 | 50% |
| Price | $699.0K | $897.5K | 22% |
| Price per sq ft | $305 | $376 | 28% |
| Built year | 1910 | 1923 | 22% |
| HOA | $0 | $0 | 50% |
| Days on market | 10 | 202 | 6% |
Apr 24, 2026
$699,000
Initial Listing
Aug 4, 2017
$552,000
Public Record
Jul 10, 2012
$195,000
Public Record