840 N Poinsettia Place, Los Angeles, California 90046, Los Angeles, 90046 - 4 bed, 4 bath
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Los Angeles, California 90046
This Bungalow-Style Duplex represents a Prime Investment Opportunity listed at $1,897,000—positioned well below the $1,976,266 Fair Market Value by 4%. This valuation gap provides $79,266 in Instant Equity. Maintaining a Condition Rating of 3, the property features Granite Kitchens, Hardwood Floors, and a Central HVAC System. The generous 7,620 sqft lot with LAR3 Zoning offers significant upside for ADU construction or multi-unit development in the trendy Melrose neighborhood. This is a premier acquisition for Owner-Occupants seeking a house-hack or Value-Add Developers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 840 N Poinsettia Place Subject | $1,897,000* List Price | 4 | 4 | 1,991 | $993 | - |
A 927 N Vista Street Sold | $2,200,000 | 4 | 4 | 2,312 | $952 | 0.3 mi |
B 1607 N Gardner Street Sold | $1,800,000 | 3 | 3 | 2,229 | $808 | 1.0 mi |
C 724 N Spaulding Avenue Sold | $2,200,000 | 3 | 2 | 2,134 | $1,031 | 0.5 mi |
D 1518 N Stanley Avenue Active | $1,799,000 List Price | 5 | 3 | 2,112 | $852 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is in move-in ready condition and has been well-maintained with several key updates. It features hardwood flooring throughout the main living areas, granite countertops in the kitchen, and a central HVAC system. While the kitchen cabinetry, black appliances, and light fixtures reflect a renovation style from approximately 10-15 years ago rather than a contemporary finish, they remain functional and in good repair. The exterior and systems appear well-kept, meeting the criteria for a property that is functional and requires no immediate major renovations.
The LAR3 zoning on a generous 7,620 sqft lot provides significant upside for developers to build multi-unit housing or for owners to add ADUs to maximize the rate of return.
Situated in the trendy Melrose neighborhood on the West Hollywood border, the property offers exceptional walkability to world-class dining, nightlife, and high-end retail.
Both units are in move-in condition with modern upgrades and separate utility meters, allowing an owner-user to immediately offset their mortgage with rental income.
Built in 1942, the property may require more frequent maintenance or future updates to aging systems compared to newer constructions in the area.
The property does not offer any scenic or panoramic views, which is a common expectation for high-end residential investments in the West Hollywood vicinity.
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 | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 62% |
| Baths | 4.0 | 3.0 | 61% |
| Square foot | 1,991 | 2,338 | 40% |
| Lot Size | 7,620 | 7,612 | 50% |
| Price | $1.90M | $2.33M | 31% |
| Price per sq ft | $953 | $957 | 49% |
| Built year | 1942 | 1956 | 31% |
| HOA | $0 | $0 | 50% |
| Days on market | 59 | 172 | 4% |
Mar 5, 2026
$1,897,000
Initial Listing