
Los Angeles, California 90023
This Value-Add Residential Income Asset represents a High-Potential Investment Opportunity priced at $799,000. While the list price exceeds the $678,113 Fair Market Value, the valuation is anchored by Ready-To-Issue (RTI) ADU Plans for two detached units, providing a clear path to doubling density. Located in Boyle Heights within the Los Angeles Unified School District, the property currently operates as a tenant-occupied duplex with a Condition Rating of 5. This shovel-ready project minimizes entitlement risk, making it ideal for Multifamily Developers or Buy-and-Hold Investors seeking to maximize ROI.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 924 Euclid Subject | $799,000* List Price | 0 | 0 | 1,716 | $395 | - |
A 1125 Orme Sold | $750,000 | 7 | 4 | 1,828 | $410 | 0.5 mi |
B 3078 E 6th Street Sold | $850,000 | 0 | 0 | 2,279 | $373 | 0.3 mi |
C 3016 Inez Active | $699,888 List Price | 0 | 0 | 1,620 | $432 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1908, the property shows significant signs of deferred maintenance and age. Exterior images reveal blue tarps covering windows and balcony areas, indicating potential leaks or structural issues. The kitchen and bathrooms are highly outdated with worn cabinetry, and the property is explicitly marketed as an 'as-is' value-add development opportunity rather than a move-in ready home.
The property includes Ready-To-Issue (RTI) plans for two detached ADUs, significantly reducing entitlement risk and the development timeline for immediate expansion.
The existing duplex is currently occupied by tenants, providing steady rental income to offset carrying costs while executing the approved value-add strategy.
The approved plans to add two 2-bedroom, 2-bathroom units allow for a substantial increase in density, effectively doubling the unit count and maximizing long-term asset value.
Built in 1908 and sold in 'as-is' condition, the primary structure likely requires significant maintenance or modernization to meet contemporary standards.
Existing tenancies may complicate construction logistics and require careful navigation of Los Angeles's strict rent stabilization and tenant rights regulations.
Rare RTI value-add opportunity at 924 South Euclid Avenue. The property is currently improved with an existing income-producing duplex with tenants in place, allowing for immediate in-place cash flow while executing an approved expansion strategy. The offering includes Ready-To-Issue (RTI) plans for two identical, detached ADUs, plus an approved permit for demolition of the existing garage. All plans are approved under the 2022 California Building Codes, with permits ready to be pulled, significantly reducing entitlement risk and development timeline. Each ADU is designed with 2 bedrooms, 2 bathrooms, full kitchen, in-unit laundry, and dedicated closet space, and each unit carries its own independent ½ address per approved plans. Identical layouts support construction efficiency, cost control, and operational consistency. This is a clear path to increasing density and long-term asset value while preserving existing rental income—ideal for small-scale multifamily developers, builders, or owner-operators seeking a shovel-ready project. Full approved building plans available upon submission of an offer. Buyer to independently verify all plans, permits, zoning, square footage, addressing, tenant information, and final permit issuance fees with the local Department of Building and Safety. Property sold as-is.
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 | 1,716 | 1,758 | 46% |
| Lot Size | 5,494 | 5,983 | 46% |
| Price | $799.0K | $710.9K | 69% |
| Price per sq ft | $466 | $410 | 54% |
| Built year | 1908 | 1922 | 15% |
| HOA | $0 | $0 | 50% |
| Days on market | 95 | 180 | 23% |
Feb 6, 2026
$799,000
$875,000
-9% Price Drop
Initial Listing
Jan 17, 2026
$875,000
Initial Listing