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1023 S Wilton Place, Los Angeles, California 90019, Los Angeles, 90019 - 7 bed, 7 bath

1023 S Wilton Place, Los Angeles, California 90019 home-pic-0
ACTIVE$1,499,000
1023 S Wilton Place, Los Angeles, California 90019
7Beds
7Baths
2,660Sqft
7,955Lot
Year Built
1917
Close
-
List price
$1.5M
Original List price
$1.5M
Price/Sqft
$564
HOA
-
Days on market
-
Sold On
-
MLS number
25615143
Home ConditionFair
Features
Patio
View

About this home

Great Deal:The estimated price is 7% above the list price. We found 4 Cons,5 Pros. Rank: price - $1.50M(57th), sqft - 2660(91th), beds - 7(97th), baths - 7(98th).

A prime opportunity for investors or owner users in the heart of Koreatown. This spacious 7 bedroom, 7 bathroom home on a 7,955 sqft lot offers excellent flexibility for both owner users and investors. Ideally located near major markets, trendy restaurants, and shopping destinations, the property sits in one of Los Angeles' most convenient and vibrant neighborhoods. The current owner operates the property as a boarding house, renting out private bedrooms and generating approximately $6000 per month, with the potential to earn over $8700 monthly when fully leased. Each bedroom includes its own bathroom, providing comfort and privacy for every occupant. The second floor has a separate entrance, a full kitchen, and four large bedrooms with en suite bathrooms, making it perfect for co-living or a separate rental setup. The detached garage has been converted into a studio with a private bathroom, creating an additional income opportunity. The home also offers ample parking, including a gated carport and driveway, along with a dedicated laundry area for tenants. Solar panels provide added efficiency and long term savings. Property will be delivered in its current condition and can be delivered vacant upon request.

Nearby schools

3/10
Wilton Place Elementary School
Public,•K-5•0.5mi
3/10
Los Angeles Elementary School
Public,•K-5•0.6mi
6/10
Carson-Gore Academy Of Enviornmental Studies
Public,•K-5•0.9mi
3/10
Arlington Heights Elementary School
Public,•K-5•0.9mi
7/10
Queen Anne Place Elementary School
Public,•K-5•1.0mi
2/10
Twenty-Fourth Street Elementary School
Public,•K-5•1.2mi
3/10
Sixth Avenue Elementary School
Public,•K-5•1.9mi
5/10
Pio Pico Middle School
Public,•6-8•0.6mi
3/10
Johnnie Cochran, Jr., Middle School
Public,•6-8•1.0mi
7/10
John Burroughs Middle School
Public,•6-8•1.5mi
4/10
Los Angeles Senior High School
Public,•9-12•1.1mi
4/10
West Adams Preparatory High School
Public,•9-12•1.7mi
2/10
Susan Miller Dorsey Senior High School
Public,•9-12•2.7mi

Price History

Date
Event
Price
11/13/25
Listing
$1,499,000
12/30/21
Sold
$1,250,000
02/08/96
Sold
$210,000
Condition Rating
Fair
Built in 1917, this property is over a century old. While it has received functional updates, such as laminate/engineered wood flooring, refreshed paint, and updated bathrooms with subway tile and basic vanities, these are primarily cosmetic and geared towards its use as a boarding house. The main kitchen features white shaker cabinets and stainless steel appliances, suggesting a renovation within the last 10-15 years, but the second kitchen is more basic and dated. The overall infrastructure and major systems of a 107-year-old home are likely outdated, even if currently functional. The 'as-is' delivery condition further implies that a buyer should anticipate potential repairs or updates beyond the visible cosmetic improvements. The property is maintained and livable but shows its age and requires minor updates or repairs to meet modern standards, fitting the 'Fair' condition criteria.
Pros & Cons

Pros

Exceptional Income Potential: The property is explicitly marketed for its high rental income, currently generating $6,000/month with potential for over $8,700/month when fully leased, including an additional income unit from the converted garage.
Highly Versatile Layout: With 7 bedrooms and 7 bathrooms, including a separate entrance and full kitchen on the second floor, it's perfectly configured for co-living, multi-generational living, or multiple rental units, maximizing occupancy and income.
Prime Koreatown Location: Situated in the heart of Koreatown, the property benefits from a vibrant and convenient neighborhood, close to major markets, trendy restaurants, and shopping, enhancing its desirability for tenants and potential appreciation.
Energy Efficiency: Equipped with solar panels, the property offers added efficiency and long-term savings on utility costs, appealing to environmentally conscious occupants and investors.
Ample Parking: The inclusion of a gated carport and driveway provides significant value in a dense urban area like Koreatown where parking can often be a challenge for multiple occupants.

Cons

MLS Listing Discrepancy: Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 7, other record bedroom count = 4.
Age and Potential Maintenance: Built in 1917, the property is over a century old, which often suggests a need for ongoing maintenance, potential for outdated infrastructure, and higher repair costs compared to newer constructions.
As-Is Delivery Condition: The property being delivered 'in its current condition' means the buyer assumes all responsibility for any necessary repairs, upgrades, or deferred maintenance, which could entail significant unforeseen expenses.
Boarding House Management Complexity: While profitable, managing a 7-bedroom, 7-bathroom boarding house with individual room rentals can be more labor-intensive and complex than managing a traditional single-family or multi-unit rental, potentially involving higher tenant turnover and specific operational challenges.

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