
Los Angeles, California 90042
This property presents a High-Potential Investment Opportunity with a List Price of $699,000—positioned well below the $716,449 Fair Market Value by 2%. This valuation gap offers $17,449 in Instant Equity for buyers. Featuring a Condition Rating of 5, the home requires significant structural remediation and permit legalization. However, the expansive 8,469 sq. ft. lot and panoramic hillside views provide a massive canvas for value-add development. This is a high-reward acquisition ideal for Fix-and-Flip Investors or Contractors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 787 Terrace 49 Subject 4 bd · 4 ba · 2,009 sqft · $348 | $700,000* List Price | 4 | 4 | 2,009 | $348 | - |
A 5031 Granada Sold 3 bd · 1 ba · 1,440 sqft · $392 · 0.3 mi | $565,000 | 3 | 1 | 1,440 | $392 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1936, this property is a major rehab project. Interior photos show significant safety and structural concerns, including exposed wall studs in the kitchen and bathroom, a large hole in the ceiling, and unpermitted additions. The listing explicitly states it is an 'as-is' value-add opportunity for flippers and builders.
The expansive 8,469 sq. ft. lot provides significant privacy and ample space for future expansion, development, or the addition of an ADU in a high-demand NELA pocket.
The property features a wraparound deck offering sweeping mountain, hillside, and tree-top views, which significantly enhances the property's aesthetic appeal and market value.
While public records show a smaller home, the existing multi-level 4-bedroom, 4-bathroom configuration offers a massive canvas for investors to reconfigure and legalize for maximum ROI.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 8009, other record living area = 870. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 1.
The significant discrepancy between the 1-bedroom public record and the 4-bedroom physical layout suggests unverified additions that may require costly city approvals or remediation.
Sold strictly as-is, the property likely requires substantial capital expenditure to address deferred maintenance and bring the structure up to modern standards.
Finally, Short Sale Approved at $700,000! Excellent opportunity for investors, builders, or buyers looking for a value-add property in Mount Washington. Situated on an expansive lot with panoramic mountain, hillside, and treetop views, the property offers generous outdoor space, privacy, and potential for a variety of future improvements, subject to buyer verification and applicable governmental requirements. Public records reflect a 1-bedroom, 1-bathroom residence of approximately 870 sq. ft. The property is currently configured with a multi-level layout featuring 4 bedrooms and 4 bathrooms. Some additions and improvements may have been completed without permits and/or final approvals. Buyer is advised to independently investigate and verify the permitted and legal status of all existing improvements. Additional features include a large wraparound view deck, dual-pane windows, and multiple living areas across several levels. Conveniently located near Highland Park, Eagle Rock, Downtown Los Angeles, dining, shopping, and other local amenities. Property is being sold strictly AS-IS. Seller will not make repairs or provide credits. Buyer and Buyer’s Agent are strongly advised to conduct their own due diligence and independently verify all information regarding the property with the city, including but not limited to square footage, bedroom and bathroom count, permits, legal use, zoning, lot size and boundaries, development or ADU potential, and overall property condition prior to acceptance of offer.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 3.0 |
| Baths | 4.0 | 2.0 |
| Square foot | 2,009 | 1,670.836 |
| Lot Size | 8,469 | 6,152.156 |
| Price | $700.0K | $1.34M |
| Price per sq ft | $348 | $807 |
| Built year | 1936 | 1941 |
| HOA | $0 | $238 |
| Days on market | 105 | 56 |
Sep 26, 2026
$700,000
$764,822
-8% Price Drop
Initial Listing
Sep 16, 2026
$764,822
$699,000
+9% Price Increase
Initial Listing
Aug 12, 2026
$699,000
$784,900
-11% Price Drop
Initial Listing
Jul 27, 2026
$784,900
Initial Listing
May 17, 2007
$520,000
Public Record