
Los Angeles, California 90063
This Value-Add Multi-Unit Asset is listed at $599,000, positioned near its $572,858 Fair Market Value. Holding a Condition Rating of 5, the property requires a full-scale renovation but offers significant forced appreciation potential through its unpermitted basement unit and Panoramic Downtown LA Views. Strategically located 5 minutes from USC and DTLA, the large lot and dual-unit layout are perfectly suited for high-demand rental strategies or Airbnb. This is a prime acquisition for Fix-and-Flip Investors or Buy-and-Hold Investors seeking a high-upside project.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 954 Geraghty Avenue Subject | $599,000* List Price | 4 | 3 | 1,032 | $544 | - |
A 1065 N Gage Avenue Sold | $475,000 | 2 | 1 | 898 | $529 | 0.2 mi |
B 3319 Blanchard Sold | $470,000 | 2 | 1 | 1,034 | $455 | 0.4 mi |
C 1023 Sentinel Avenue Sold | $500,000 | 2 | 1 | 980 | $510 | 0.7 mi |
D 3724 Folsom St Sold | $660,000 | 3 | 2 | 1,200 | $550 | 0.3 mi |
E 1563 Mcgilvrey Sold | $615,000 | 3 | 2 | 1,284 | $479 | 0.9 mi |
F 4208 Blanchard Sold | $585,000 | 3 | 1 | 1,422 | $411 | 0.4 mi |
G 1129 N Alma Sold | $540,000 | 3 | 2 | 792 | $682 | 0.6 mi |
H 3226 City Terrace Drive Active | $583,000 List Price | 2 | 1 | 1,160 | $503 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1928 and sold 'As Is Condition' with an 'unpermitted unit,' this property requires substantial repairs and rehabilitation. While tenant-occupied, the kitchen and bathrooms feature dated finishes (dark wood cabinets, basic countertops, older appliances, brown-toned tiles) that appear to be from a renovation 15-30 years ago, not meeting current standards. The age of the property strongly suggests major systems (electrical, plumbing, HVAC) are likely at or past their expected lifespan and will require significant investment. The unpermitted unit also presents a substantial legal and potential structural/safety defect that needs resolution.
Explicitly marketed as a 'GREAT INVESTMENT OPPORTUNITY BELOW MARKET VALUE' with potential for 'substantial rental income' due to high demand for rentals and Airbnb in a rapidly growing neighborhood.
Strategically located just 5 minutes from Downtown Los Angeles, USC University, major landmarks, and colleges, with easy access to the 60 and 710 freeways, enhancing its appeal to renters.
Features a main house (3 bed, 2 bath) and an additional 1 bed, 1 bath unit in the basement, offering versatile options for rental strategies, multi-generational living, or maximizing income.
The property includes an 'Extra unpermitted unit' in the basement, which poses legal risks, potential fines, and may require costly legalization or demolition by the buyer.
The property is sold 'As Is Condition,' indicating that the buyer will be responsible for any necessary repairs, renovations, or deferred maintenance, adding to the initial investment.
Sold with 'Tenants in Place' and the possibility of 'CASH FOR KEYS' to be handled by the buyer after close of escrow, which could delay occupancy, renovation, or incur additional costs and complexities.
City Terrace opportunity with city and hillside views, conveniently located near major freeways and Downtown Los Angeles. The main residence offers a flexible floor plan, outdoor entertaining space, a fenced yard and mature fruit trees. Additional lower-level living space includes a bedroom, bathroom and kitchen area; seller reports that the lower-level improvements may Excellent income and owner-user opportunity in the City Terrace area, offering city and hillside views with convenient access to Downtown Los Angeles and major freeways. The main residence features three bedrooms and two bathrooms, plus additional lower-level living space configured with one bedroom, one bathroom and a kitchen areaoffering flexible rental, guest or extended-family possibilities. The fenced backyard features mature fruit trees and space for outdoor entertaining. Ideal for investors or buyers seeking flexible living arrangements and income potential, subject to existing tenant rights and applicable regulations. Property is tenant occupied and sold in its present as-is condition. Buyer to independently verify square footage, room count, permits, zoning, rental use, short-term-rental eligibility and property condition.be permitted. Property is being sold in its present as-is condition. Buyer and buyer's representatives are advised to independently verify square footage, bedroom and bathroom count, permits, zoning, use, rental regulations, property condition, parking and all other material information with Los Angeles County and the appropriate agencies.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 3.0 |
| Baths | 3.0 | 2.0 |
| Square foot | 1,032 | 1,664.159 |
| Lot Size | 4,546 | 6,066.556 |
| Price | $599.0K | $1.35M |
| Price per sq ft | $580 | $806 |
| Built year | 1928 | 1939 |
| HOA | $0 | $278 |
| Days on market | 265 | 55 |
Dec 18, 2025
$599,000
Initial Listing
Jun 13, 2013
$175,000
Public Record
May 9, 2013
$125,000
Public Record
Jul 31, 2009
$70,000
Public Record
Nov 17, 2004
$320,000
Public Record
May 15, 2003
$210,000
Public Record