923 N Alma Avenue, Los Angeles, California 90023, Los Angeles, 90023 - bed, bath
923 N Alma Avenue
Los Angeles, California 90023
Property Price
SUMMARY
Analysis of 923 N Alma Avenue, Los Angeles, California 90023 is currently available with a list price of $660,000. The property maintains a Poor Condition Rating (30/100), indicating the property requires renovation and updates to maximize its market potential. This presents opportunities for value-add investors. 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 Experienced Investors and Fix-and-Flip Specialists.
Condition Analysis
OVERALL CONDITION SCORE
Property is extensive renovation needed.
The property is in major disrepair and requires a full-scale overhaul or ground-up renovation. Built in 1922 and 1962 with no evidence of recent updates, the structures show significant defects and are likely ineligible for traditional financing, making it a project for cash investors or developers.
PROSSTRENGTHS & OPPORTUNITIES
- Development Potential
The expansive 7,280 sq ft lot with LCR2 zoning provides significant upside, including the potential to add up to two ADUs to maximize density and future rental yield.
- Strategic Location
Located in a high-demand East Los Angeles pocket near Downtown, the property offers exceptional connectivity with quick access to the 5, 10, 60, and 710 freeways.
- Multi-Unit Configuration
The rare setup of two separate structures on a single deep lot allows for distinct privacy between units, making it an ideal candidate for a high-value multi-family repositioning.
CONSRISKS & DEFICIENCIES
- Severe Condition
The property is in major disrepair and requires a full-scale overhaul, which demands a buyer with significant construction expertise and a large renovation budget.
- Financing Limitations
Due to the extent of the required repairs, the property is likely ineligible for traditional financing, effectively limiting the buyer pool to cash investors or hard-money borrowers.
About 923 N Alma Avenue
Prime Developer / Investor Rehab Opportunity! Rare duplex with two separate structures, a 1922 front home and a 1962 rear unit, set on a 7,280 sq ft LCR2-zoned lot in a stable, high-demand East Los Angeles area near Downtown. The property is in major disrepair and requires a full overhaul, making it best suited for cash buyers, builders, or seasoned investors looking for a ground-up renovation or redevelopment project. Favorable R2 zoning on a deep lot offers compelling potential for added density, including the possibility of up to two additional ADUs (buyer to verify with the City), creating a strong path to future income and value. A long driveway with multiple parking spaces supports multi-unit use, and the site benefits from quick access to major freeways (5, 10, 60, 710), and nearby employment centers. For those ready to take on a serious rehab in a high-demand area, this property delivers the scale, zoning, and location to justify a substantial repositioning.
Property Details
Public Facts
- Property Type
- Duplex
- Year Built
- 1922
- Lot Size
- 7,280 Sq. Ft.
Interior
- Total Bedrooms
- -
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 50% |
| Baths | - | - | 50% |
| Square foot | 1,880 | 1,791 | 50% |
| Lot Size | 7,280 | 6,525 | 58% |
| Price | $660.0K | $665.0K | 50% |
| Price per sq ft | $351 | $362 | 50% |
| Built year | 1922 | 1923 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 8 | 166 | 8% |
Pricing History
Listed for Sale
Feb 26, 2026
$660,000
Initial Listing