788 E 40th Place, Los Angeles, California 90011, Los Angeles, 90011 - 3 bed, 2 bath
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Los Angeles, California 90011
This Updated Craftsman Bungalow is a strategic acquisition listed at $569,900, representing a stable and fair entry point that aligns with its $569,900 Fair Market Value. The residence holds a Condition Rating of 3 following extensive recent upgrades to the roof, plumbing, and electrical systems, ensuring immediate move-in readiness and reduced maintenance risk. Featuring a modernized kitchen and a private backyard with an avocado tree, the property benefits from high rental demand due to its proximity to USC and Downtown LA. This versatile asset is perfectly suited for first-time buyers or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 788 E 40th Place Subject | $569,900* List Price | 3 | 2 | 1,220 | $467 | - |
A 2512 Stanford Sold | $655,000 | 3 | 2 | 1,176 | $557 | 0.8 mi |
B 3846 Woodlawn Ave Sold | $495,000 | 2 | 1 | 880 | $563 | 0.6 mi |
C 4416 Crocker Sold | $610,000 | 3 | 2 | 1,059 | $576 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Despite being built in 1915, the property has undergone significant and recent updates, including the roof, plumbing, electrical, kitchen, and bathrooms. The kitchen features modern gray shaker cabinets, stainless steel appliances, and solid surface countertops. Bathrooms also have updated vanities and fixtures. While some original elements like the hardwood floors show wear, and the exterior retains its vintage character, the critical systems and key living areas are move-in ready and appear to have been renovated within the last 5-15 years, aligning with a 'Good' condition score.
The property is presented as a short sale, potentially offering a buyer the chance to acquire a charming home at a competitive value.
Located in a prime area of Central LA, offering excellent proximity to USC, Downtown LA, and major freeways, ensuring convenient access and strong rental potential.
Significant recent upgrades to the roof, plumbing, kitchen, and electrical systems mitigate common concerns associated with older homes, providing modern functionality.
The 'pending cancellation of current escrow' and short sale nature indicate a potentially lengthy, complex, and uncertain transaction process for buyers.
Built in 1915, despite recent upgrades, the property's age may still lead to unforeseen maintenance issues or require ongoing upkeep typical of historic homes.
The lot size of 2885 sqft is relatively small, which might limit outdoor living space or future expansion possibilities for some prospective buyers.
BACK IN THE MARKET PENDING CANCELLATION OF CURRENT ESCROW. Short Sale Opportunity! Charming Craftsman bungalow in central LA- blending vintage character with modern updates. Featuring hardwood floors, 3 bedrooms, high ceilings, an updated kitchen and bathrooms , and a private backyard with an avocado tree. Recent upgrades include roof, plumbing, kitchen and electrical. This Amazing home is strategically located on a prime area close to USC, Downtown LA and freeways for easy access. Don't miss this chance to own a gem with tons of potential at a great value!
No exterior & parking available.
Grades K-5 • 0.2 mi
Grades K-5 • 0.2 mi
Grades K-5 • 0.3 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,220 | 1,162.5 | 56% |
| Lot Size | 2,885 | 4,433.5 | 22% |
| Price | $569.9K | $562.5K | 50% |
| Price per sq ft | $467 | $501 | 41% |
| Built year | 1915 | 1909 | 81% |
| HOA | $0 | $0 | 50% |
| Days on market | 280 | 213 | 81% |
Oct 2, 2025
$569,900
$549,000
+4% Price Increase
Initial Listing
Jul 16, 2025
$549,000
Initial Listing
Apr 19, 2024
$575,000
Public Record
Jul 7, 2003
$155,000
Public Record