923 N Alma Avenue, Los Angeles, California 90023, Los Angeles, 90023 - 0 bed, 0 bath
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Los Angeles, California 90023
This Residential Income Duplex is a strategic Value-Add Asset listed at $660,000, positioned near its $577,894 Fair Market Value. Carrying a Condition Rating of 5, the property requires a full-scale overhaul, yet offers immense potential through its LCR2 Zoning and expansive 7,280 sq ft lot. The rare configuration of two separate structures provides a unique foundation for a high-density repositioning, including the potential to add two additional ADUs for optimized rental yield. This high-upside redevelopment project is perfectly suited for Cash Buyers or Seasoned Investors.
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.
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.
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.
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.
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.
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.
Major fixer duplex redevelopment opportunity in East Los Angeles, Boyle Heights adjacent, near Downtown Los Angeles, on a 7,280 sq ft LCR2-zoned lot with alley access and delivered vacant at close of escrow. This is a true value add play for investors seeking redevelopment, reconfiguration, or ADU potential in a high-demand infill market with strong rental fundamentals. The property includes a 1922 front home and a 1962 rear unit, creating a flexible footprint for renovation, repositioning, or future income growth, subject to buyer verification. Rear unit is vacant and front unit will be delivered vacant at close of escrow, giving immediate access for construction or redevelopment. Convenient access to the 5, 10, 60, and 710 freeways and close proximity to Downtown Los Angeles, making this a strong value add play for investors looking to capitalize on location, lot size, zoning, and long-term upside.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 1,880 | 1,828 | 54% |
| Lot Size | 7,280 | 6,003 | 62% |
| Price | $660.0K | $705.0K | 38% |
| Price per sq ft | $351 | $373 | 38% |
| Built year | 1922 | 1922 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 55 | 180 | 8% |
Feb 26, 2026
$660,000
Initial Listing