This little bungalow in Highland Park recently sold for $482,000, significantly less than the Redfin estimate.

Here’s what you can get in NELA for under $600K

2020 December Editions More News Real Estate

The median sale price for a home in Northeast Los Angeles recently hit $920,000, with even small Highland Park bungalows like this one selling for over $800,000.

But even amid rising prices, it’s possible — not easy, but possible — to find an affordable home. 

The following three homes are all fixer-uppers but none of them are clearly teardowns. That combination makes them desirable for investors and cash-strapped buyers alike.

Address: 4908 Ithaca Ave., El Sereno

Sold for: $575,000

Redfin Estimate: $634,511

Days on Market: 48

Listed by: Robert Fielder of eXp Realty

Extreme fixer status aside, this piece of El Sereno real estate was a steal. The house sits on 9,800 square foot lot — one of the largest parcels to sell in NELA in October and certainly one of the most affordable. In addition to boasting a grove of tropical fruit trees and room for a pool, the lot is also zoned as RD2, which means a developer could build multiple residential units on the land — and really double down on their investment.  

Address: 3426 Division St., Mount Washington

Sold for: $550,000

Redfin Estimate: $614,216

Days on Market: 24

Listed by: Crystal Sheppard of Sheppard Properties

One of the fastest-selling homes in NELA in October, this 2 bed/1 bath bungalow was snapped up in just 24 days. The sellers must have been in a hurry because a home selling that quickly usually goes for a premium above asking, but in this case, the buyers got a $30,000 discount. Again, a major selling point was the lot size, which at just about 7,000 square feet could support two single-family residences. 

Address: 6072 Delphi St., Highland Park

Sold for: $482,000

Redfin Estimate: $583,612

Days on Market: 38

Listed by: E. Lee Bothast of Keller Williams Larchmont

At $782 per square foot, this tiny 1-bedroom/1-bath home boasted an affordable price point for NELA, but was actually one of the more expensive homes sold in October foot-for-foot. Still, Redfin values the home at $583,612, so the buyer has apparantly already seen a healthy return on investment. Considering that this is one of the more move-in ready homes in the bargain bin this October, it’s easy to see why it sold in just 38 days.

Jeffery is a seasoned data journalist and has covered the California real estate market for over a decade.

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Jeffery Marino
Jeffery is a seasoned data journalist and has covered the California real estate market for over a decade.

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