723 N Orange Drive, Los Angeles, California 90038, Los Angeles, 90038 - 3 bed, 2 bath
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Los Angeles, California 90038
This 1923 Spanish-style residence represents a High-Potential Investment Opportunity with a List Price of $1,699,000—positioned well below the $1,779,418 Fair Market Value by 4%. This valuation gap provides $80,418 in Instant Equity for buyers ready to modernize this classic asset. Holding a Fair Condition Rating, the property features a massive 7,426 sqft lot and a converted garage with ADU potential. Located on a quiet Hollywood street, this is a strategic acquisition for Fix-and-Flip Investors or Value-Add Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 723 N Orange Drive Subject | $1,585,000* List Price | 3 | 2 | 1,837 | $924 | - |
A 716 N June Street Sold | $1,800,000 | 3 | 3 | 1,786 | $1,008 | 0.5 mi |
B 6603 Willoughby Avenue Sold | $1,150,000 | 3 | 2 | 1,366 | $842 | 0.4 mi |
C 758 N Mansfield Active | $1,498,000 List Price | 3 | 2 | 1,658 | $903 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
This 1923 Spanish-style home is well-maintained but significantly outdated, fitting the 'fair' criteria as it requires modernization. The kitchen features older oak cabinetry and granite countertops from a previous mid-life update, but the appliances are basic and aged. The bathrooms retain vintage tile work and fixtures that show their age. While the property appears livable and has original hardwood flooring, the listing explicitly identifies it as a remodel opportunity, noting it hasn't been on the market in 45 years and likely requires updates to major systems and finishes.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7426, living area = 1837.
The converted garage offers a prime opportunity for an Accessory Dwelling Unit (ADU), providing significant potential for added value or rental income.
Situated on a generous 7,426 sq. ft. lot, the property features a rare, tranquil garden with mature fruit trees and shrubs, offering exceptional outdoor space for the area.
On the market for the first time in 45 years, the home requires a comprehensive remodel to update its 1920s-era finishes and likely its major mechanical systems.
Because the garage has been converted into a storage room, the property currently lacks traditional covered parking, which may be a drawback for some buyers.
Opportunity knocks! This sweet Spanish home is on the market for the first time in 45 years! Set on a beautiful, quiet, tree-lined street, the home presents a wonderful possibility to remodel and make it your own. Boasting a huge lot and a beautiful, tranquil garden with many fruit trees, mature shrubs and flowers, the property offers 3 bedrooms, 2 baths, large kitchen, living and dining rooms, and a den. The garage has been converted and used as an additional room/storage, offering potential for future ADU. A rare chance to create your dream home in a lovely setting.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 4.0 | 19% |
| Square foot | 1,837 | 2,060 | 29% |
| Lot Size | 7,426 | 1,815 | 81% |
| Price | $1.58M | $1.23M | 71% |
| Price per sq ft | $863 | $613 | 86% |
| Built year | 1923 | 2014 | 38% |
| HOA | $0 | $0 | 50% |
| Days on market | 54 | 222 | 10% |
May 2, 2026
$1,585,000
$1,699,000
-7% Price Drop
Initial Listing
Apr 13, 2026
$1,699,000
Initial Listing