915 E 23rd Street, Los Angeles, California 90011, Los Angeles, 90011 - 0 bed, 0 bath
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915 E 23rd Street
Los Angeles, California 90011
ACTIVE
CONDITION: FAIR
0Beds
0Baths
4,164Sq Ft
6,258Lot Size
Property Price
LIST PRICE$1,049,000
EST. MARKET VALUE
$1,099,000
4% BelowMARKET VALUE
SUMMARY
This quadruplex presents a High-Potential Investment Opportunity with a List Price of $1,099,000—positioned well below the $1,119,621 Fair Market Value by 1.84%. This valuation gap offers $20,621 in Instant Equity. With a Condition Rating of 4, the property provides immediate cash flow while offering significant upside through strategic renovations. Its proximity to USC and DTLA ensures sustained rental demand. This is a stable, income-producing asset ideal for Buy-and-Hold Investors or 1031 exchange buyers seeking long-term growth.
Estimated Market Value
$1,099,000+$50,000 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Los Angeles.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 915 E 23rd Street Subject 0 bd · 0 ba · 4,164 sqft · $264 | $1,049,000* List Price | 0 | 0 | 4,164 | $264 | - |
A 805 E 25th St Active 9 bd · 4 ba · 3,126 sqft · $286 · 0.1 mi | $895,000 List Price | 9 | 4 | 3,126 | $286 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1968 (56 years old), the property exceeds the age threshold for 'Fair' but remains functional and fully occupied. Interior photos show recent cosmetic updates including newer laminate flooring and fresh paint, though older wall heaters and exterior utility configurations suggest dated systems. The listing explicitly notes upside potential through renovations, confirming the need for modernization of kitchens, baths, and systems.
PROSSTRENGTHS & OPPORTUNITIES
- Strategic Location
Ideally situated minutes from USC and Downtown Los Angeles, the property benefits from high rental demand from students and professionals in a rapidly developing area.
- Immediate Cash Flow
The quadruplex is fully occupied and generates a consistent gross monthly income of approximately $7,994, providing immediate returns for investors.
- Value-Add Potential
Significant upside potential exists through strategic unit renovations and rent adjustments, allowing owners to capitalize on the evolving DTLA market and upcoming 2028 Olympic demand.
CONSRISKS & DEFICIENCIES
- Local School Ratings
Several assigned and nearby schools have low performance ratings, which may limit the property's appeal to long-term family-oriented tenants.
- Modernization Requirements
Built in 1968, the property likely requires capital investment for upgrades and renovations to achieve top-of-market rents and improve management efficiency.
About 915 E 23rd Street
An exceptional investment opportunity to acquire a large, income producing four-unit property ideally positioned within the high-demand Downtown Los Angeles rental market. This well located quadruplex features 12 bedrooms, 6 bathrooms, and approximately 4,164 square feet of total living space situated on a 6,258-square-foot lot. The property is fully rented and currently generates approximately $7,994 per month in gross rental income. Ideal for investors, 1031 exchange buyers, and developers. This property presents potential upside may be achieved through strategic rent adjustments, improved property management, unit renovations and upgrades. Ideally located just minutes from the University of Southern California (USC), USC Village, Los Angeles Memorial Coliseum, Exposition Park, BMO Stadium, and Downtown Los Angeles (DTLA). Its convenient access to major freeways, Metro Rail and public transportation enhances connectivity throughout Los Angeles. The location is particularly appealing to students, professionals, and long-term renters, benefiting from proximity to educational institutions, entertainment venues, sports facilities, and DTLA market. With the region continuing to experience significant investment and development, including preparations and improvements associated with the 2028 Olympic Games.
Property Details
Public Facts
- Property Type
- Quadruplex
- Year Built
- 1968
- Lot Size
- 6,258 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Los Angeles Unified Schools
Twenty-Eighth Street Elementary School
Grades K-5 • 0.4 mi
3/10
Twentieth Street Elementary School
Grades K-5 • 0.4 mi
5/10
San Pedro Street Elementary School
Grades K-5 • 0.4 mi
5/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.7 |
| Baths | 0.0 | 3.0 |
| Square foot | 4,164 | 2,148.648 |
| Lot Size | 6,258 | 5,855.757 |
| Price | $1.05M | $831.8K |
| Price per sq ft | $252 | $387 |
| Built year | 1968 | 1928 |
| HOA | $0 | $0 |
| Days on market | 41 | 87 |
Pricing History
Listed for Sale
Oct 15, 2026
$1,049,000
$1,099,000
-5% Price Drop
Initial Listing
Price Change
Sep 13, 2026
$1,099,000
Initial Listing
Sold
Jul 1, 2022
$945,000
Public Record
Sold
Dec 1, 1998
$135,000
Public Record