
Los Angeles, California 90046
This Bungalow-Style Duplex represents a Strong Value Opportunity, listed at $1,887,000—positioned well above the $1,728,163 Fair Market Value by -9%. Featuring LAR3 Zoning on a 7,620 sqft lot, the property offers significant development potential for ADU construction or multi-unit expansion. While the Fair Condition Rating reflects vintage infrastructure, the Granite Kitchens and Central HVAC provide immediate utility. This asset is a strategic acquisition for Buy-and-Hold Investors or Owner-Occupants seeking to offset mortgage costs through rental income in a prime Melrose location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 840 N Poinsettia Place Subject | $1,887,000* List Price | 4 | 4 | 1,991 | $868 | - |
A 1518 N Stanley Avenue Active | $1,530,000 List Price | 5 | 3 | 2,112 | $724 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Originally built in 1942, the property features renovations (granite countertops and tiled bathrooms) that appear to be 20+ years old. While the listing notes move-in condition and updated systems like central HVAC, the interior aesthetic is dated and the exterior stucco and entry show visible wear, placing it in the Fair category.
The LAR3 zoning on a generous 7,620 sqft lot provides significant value-add opportunities, including the potential to construct multi-unit housing or additional ADUs to maximize rental yield.
Situated in the vibrant Melrose neighborhood on the West Hollywood border, the property offers exceptional walkability to world-class dining, nightlife, and trendy retail hubs.
Both units are in move-in condition with modern upgrades like granite countertops and central HVAC, featuring separate utility meters ideal for owner-occupants seeking mortgage-offsetting income.
With 147 days on the market and a recent price reduction, the property may face challenges regarding perceived market value or buyer hesitation in a competitive segment.
Originally built in 1942, the property may require more frequent maintenance or structural oversight typical of older bungalow-style residences despite recent cosmetic updates.
Attention all investors, developers and owner/users!! Opportunities knock for owning greatly appointed bungalow style duplex in LAR3 zoning with 3 bed 3 bath front unit and 1 bed 1 bath back unit. Property located in the Melrose neighborhood of LA on the border of West Hollywood. Both units in move in condition with granite countertops kitchens, tiled bathrooms, hardwood floors, central HVAC system, and ample amount of closet spaces. Separate water heaters, gas and electric meters, a tranquil backyard, and a garage with storage and small office. This is a fantastic opportunity for an Owner/User to live in one unit and use the rent from the tenants to offset their mortgage or a value-added operator who would construct ADUs to stabilize the property for a higher rate of return, or a developer, who can build multi units. Located in a vibrant and trendy Los Angeles neighborhood. This prime location offers residents easy access to lively nightlife, diverse entertainment venues, cultural hotspots, and trendy dining options for which the area is renowned. The area is densely populated and close proximity of trendy shops, delicious eateries, parks, and entertainment options.
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 | 1,991 | 1,664.159 |
| Lot Size | 7,620 | 6,066.556 |
| Price | $1.89M | $1.35M |
| Price per sq ft | $948 | $806 |
| Built year | 1942 | 1939 |
| HOA | $0 | $278 |
| Days on market | 188 | 55 |
Jun 26, 2026
$1,887,000
$1,897,000
-1% Price Drop
Initial Listing
Mar 5, 2026
$1,897,000
Initial Listing