788 E 40th Place, Los Angeles, California 90011, Los Angeles, 90011 - 3 bed, 2 bath
ACTIVE$599,000$1,220/sqft
Est. Value: $445,900
-25%
AboveEstimate
788 E 40th Place, Los Angeles, California 90011
3Beds
2Baths
1,220Sqft
2,885Lot
Price Vs. Estimate
The estimated value ($445,899.77) is $153,100.23 (25%) lower than the list price ($599,000). This property may be overpriced.
Key pros and cons
Top Pros:
Historic Charm & Modernization: This beautifully maintained 1915 Craftsman bungalow seamlessly blends original architectural details like high ceilings and classic built-ins with significant modern updates, including flooring and an updated kitchen.
Top Cons:
Significant Price Discrepancy: The current list price of $599,000 is substantially higher than the estimated property value of $445,899.77, which could raise questions about market competitiveness and appraisal.
Compared to the nearby listings
Price:$599.0K vs avg $572.5K (+$26,500)59%
Size:1,220 sqft vs avg 1,162.5 sqft59%
Price/sqft:$491 vs avg $51838%
More Insights
Built in 1915 (111 years old).
Condition: This 1915 Craftsman bungalow is in 'Good' condition due to extensive and recent modern updates. The kitchen features custom cabinets, quartz countertops, and stainless steel appliances, presenting a contemporary and high-quality finish. Both bathrooms are also visibly updated with modern vanities, fixtures, and tiling. Key systems like plumbing and electrical have received recent upgrades, ensuring functionality. While the home retains some original charm and flooring, the significant renovations make it move-in ready with no immediate repairs required, aligning well with the 'Good' criteria for properties extensively renovated within the last 5-15 years. The age of the original structure prevents an 'Excellent' rating, as not all components are new or virtually new.
Year Built
1915
Close
-
List price
$599K
Original List price
$599K
Price/Sqft
$491
HOA
-
Days on market
-
Sold On
-
MLS number
SR25010010
Home ConditionGood
Features
Patio
View-
About this home
NEW REDUCED PRICE! Welcome to 788 E 40th Place—a beautifully maintained Craftsman bungalow in central Los Angeles that perfectly blends historic charm with modern updates. This early 20th-century home welcomes you with a mix of original and updated hardwood and luxury vinyl plank floors, high ceilings, and an abundance of natural light. The living room features classic built-ins and vintage details, adding character to the space, while the updated kitchen boasts modern conveniences, including custom cabinets, quartz countertops, and stainless steel appliances. The home offers three bedrooms, each providing a peaceful retreat, and a spacious backyard with mature fruit trees and a patio—ideal for outdoor living. Located in a prime area near downtown, USC, and major freeways, you’ll enjoy convenient access to parks, dining, shopping, and more. Additional highlights include recent upgrades to the plumbing and electrical systems. This charming bungalow at 788 E 40th Place is ready to welcome its next owner—don’t miss this incredible opportunity!
?
Listing Agent
Nearby schools
2/10
Harmony Elementary School
Public,•K-5•0.2mi
3/10
Wadsworth Avenue Elementary School
Public,•K-5•0.2mi
4/10
Quincy Jones Elementary School
Public,•K-5•0.3mi
4/10
Ricardo Lizarraga Elementary School
Public,•K-5•0.4mi
3/10
Trinity Street Elementary School
Public,•K-5•0.5mi
3/10
Sally Ride Elementary: A Smart Academy
Public,•K-5•0.6mi
/10
Maple Primary Center
Public,•K-1•0.6mi
3/10
Twenty-Eighth Street Elementary School
Public,•K-5•0.6mi
2/10
Forty-Ninth Street Elementary School
Public,•K-5•0.8mi
5/10
Dolores Huerta Elementary School
Public,•K-5•0.8mi
4/10
Nevin Avenue Elementary School
Public,•K-5•0.9mi
5/10
Twentieth Street Elementary School
Public,•K-5•1.1mi
5/10
West Vernon Avenue Elementary School
Public,•K-5•1.1mi
5/10
San Pedro Street Elementary School
Public,•K-5•1.4mi
5/10
Menlo Avenue Elementary School
Public,•K-5•1.6mi
2/10
Marguerite Poindexter Lamotte Elementary
Public,•K-5•1.6mi
/10
Dr. James Edward Jones Primary Center
Public,•K-2•1.8mi
4/10
Norwood Street Elementary School
Public,•K-5•2.0mi
2/10
John W. Mack Elementary School
Public,•K-5•2.2mi
3/10
George Washington Carver Middle School
Public,•6-8•0.5mi
2/10
Dr. Julian Nava Learning Academies-School Of Business And Technology
Public,•6-8•0.9mi
3/10
William Jefferson Clinton Middle School
Public,•6-8•1.0mi
4/10
John Adams Middle School
Public,•6-8•1.1mi
2/10
John Muir Middle School
Public,•6-8•2.3mi
2/10
Barack Obama Global Preparation Academy
Public,•6-8•2.8mi
2/10
Thomas Jefferson Senior High School
Public,•9-12•0.6mi
3/10
Nava College Preparatory Academy
Public,•9-12•0.6mi
5/10
Santee Education Complex
Public,•9-12•1.3mi
3/10
Manual Arts Senior High School
Public,•9-12•1.7mi
4/10
West Adams Preparatory High School
Public,•9-12•2.6mi
Price History
Date
Event
Price
04/19/24
Sold
$575,000
07/07/03
Sold
$155,000
Condition Rating
Good
This 1915 Craftsman bungalow is in 'Good' condition due to extensive and recent modern updates. The kitchen features custom cabinets, quartz countertops, and stainless steel appliances, presenting a contemporary and high-quality finish. Both bathrooms are also visibly updated with modern vanities, fixtures, and tiling. Key systems like plumbing and electrical have received recent upgrades, ensuring functionality. While the home retains some original charm and flooring, the significant renovations make it move-in ready with no immediate repairs required, aligning well with the 'Good' criteria for properties extensively renovated within the last 5-15 years. The age of the original structure prevents an 'Excellent' rating, as not all components are new or virtually new.
Pros & Cons
Pros
Historic Charm & Modernization: This beautifully maintained 1915 Craftsman bungalow seamlessly blends original architectural details like high ceilings and classic built-ins with significant modern updates, including flooring and an updated kitchen.
Key System Upgrades: Recent upgrades to the plumbing and electrical systems provide peace of mind and reduce immediate capital expenditure for a new owner.
Prime Central Los Angeles Location: Situated in a highly desirable area with excellent proximity to Downtown LA, USC, major freeways, and convenient access to parks, dining, and shopping.
Enhanced Outdoor Living: The property features a spacious backyard with mature fruit trees and a patio, offering a private and inviting space for outdoor relaxation and entertaining.
Desirable Interior Features: The home benefits from an abundance of natural light throughout, contributing to a bright and character-filled living environment.
Cons
Significant Price Discrepancy: The current list price of $599,000 is substantially higher than the estimated property value of $445,899.77, which could raise questions about market competitiveness and appraisal.
Advanced Age of Structure: While updated, the 1915 build year suggests potential for ongoing maintenance related to its age, such as foundation, roof, or insulation, which may not be covered by recent system upgrades.
Limited Lot Size: The lot size of 2885 sqft is relatively small for a single-family home, potentially limiting future expansion opportunities or appeal to buyers desiring a larger outdoor footprint.