788 E 40th Place, Los Angeles, California 90011, Los Angeles, 90011 - 3 bed, 2 bath
788 E 40th Place
Los Angeles, California 90011
Property Price
SUMMARY
Analysis of 788 E 40th Place, Los Angeles, California 90011 reveals a Fairly Priced Property with a current list price of $569,900 aligned with the estimated $569,900 Fair Market Value. This represents a stable investment opportunity at market rate. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. Located in a high-demand neighborhood within the Los Angeles Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Estimated Market Value
Comparable Sales Map
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 Pending | $649,000 List Price | 3 | 2 | 1,176 | $552 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
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.
PROSSTRENGTHS & OPPORTUNITIES
- Short Sale Opportunity
The property is presented as a short sale, potentially offering a buyer the chance to acquire a charming home at a competitive value.
- Strategic Central Location
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.
- Extensive Recent Upgrades
Significant recent upgrades to the roof, plumbing, kitchen, and electrical systems mitigate common concerns associated with older homes, providing modern functionality.
CONSRISKS & DEFICIENCIES
- Short Sale Process Uncertainty
The 'pending cancellation of current escrow' and short sale nature indicate a potentially lengthy, complex, and uncertain transaction process for buyers.
- Age of Property
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.
- Compact Lot Size
The lot size of 2885 sqft is relatively small, which might limit outdoor living space or future expansion possibilities for some prospective buyers.
About 788 E 40th Place
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!
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1915
- Lot Size
- 2,885 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Los Angeles Unified Schools
Harmony Elementary School
Grades K-5 • 0.2 mi
Wadsworth Avenue Elementary School
Grades K-5 • 0.2 mi
Quincy Jones Elementary School
Grades K-5 • 0.3 mi
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,220 | 1,138.5 | 59% |
| Lot Size | 2,885 | 4,433.5 | 18% |
| Price | $569.9K | $572.5K | 50% |
| Price per sq ft | $467 | $511 | 38% |
| Built year | 1915 | 1910 | 74% |
| HOA | $0 | $0 | 50% |
| Days on market | 233 | 184 | 76% |
Pricing History
Listed for Sale
Oct 2, 2025
$569,900
$549,000
+4% Price Increase
Initial Listing
Price Change
Jul 16, 2025
$549,000
Initial Listing
Sold
Apr 19, 2024
$575,000
Public Record
Sold
Jul 7, 2003
$155,000
Public Record