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1940 S La Salle Avenue, Los Angeles, California 90018, Los Angeles, 90018 - 6 bed, 5 bath

1940 S La Salle Avenue, Los Angeles, California 90018 home-pic-0
ACTIVE$1,399,000
1940 S La Salle Avenue, Los Angeles, California 90018
6Beds
5Baths
3,681Sqft
7,501Lot
Year Built
1939
Close
-
List price
$1.4M
Original List price
$1.9M
Price/Sqft
$380
HOA
-
Days on market
-
Sold On
-
MLS number
OC25215179
Home ConditionFair
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.40M(85th), sqft - 3681(85th), beds - 6(85th), baths - 5(92th).

Final sales price subject to short sale approval from existing lien holders. Design your own dream house 5 minutes from DTLA, 10 minutes from USC, BMO Stadium, and LAX. 1940 S. La Salle can either be 1-3 bedrooms and a full bathroom downstairs with a large, 2 bed, 1 bath, plus sunroom/office upstairs or combined into one home. Property comes with 1942 and 1942 1/2 S. La Salle which are fully remodeled 1 and 2 bedroom apartments with new kitchens, bathrooms, flooring, and paint that sit above two oversized 2 car garages with storage areas. One of the garages can also be converted to a 2 bedroom ADU and plans were previously approved. Take up to 1% off your interest rate for the first year through the seller's preferred lender. Seller will pay for this concession on qualified offers. 3D tour and floor plan available at: https://www.homes.com/property/1940-s-la-salle-ave-los-angeles-ca/4cjts3csh29dg/

Price History

Date
Event
Price
12/07/25
Price Change
$1,399,000-26.3%
09/11/25
Listing
$1,899,000
08/08/24
Sold
$1,080,000
Condition Rating
Fair
The property, built in 1939, presents a mixed condition. While the listing explicitly states that the 1942 and 1942 1/2 S. La Salle apartments have been 'fully remodeled with new kitchens, bathrooms, flooring, and paint' (as evidenced by the modern kitchens and bathrooms in the images), the main residence at 1940 S. La Salle is described as needing 'design your own dream house' and 'substantial renovation or modernization.' This indicates a significant portion of the property requires extensive updates, pulling down the overall quality despite the excellent condition of the remodeled units. The property is not move-in ready as a whole and requires considerable investment in the main house.
Pros & Cons

Pros

Prime Location & Accessibility: Strategically located just 5 minutes from Downtown LA and 10 minutes from USC, BMO Stadium, and LAX, offering excellent connectivity and desirability.
Income-Generating Units: Includes two fully remodeled apartments (1942 & 1942 1/2 S. La Salle) with new kitchens, bathrooms, flooring, and paint, providing immediate rental income.
ADU Conversion Potential: One oversized garage has previously approved plans for conversion into a 2-bedroom ADU, offering significant value-add and future income potential.
Flexible Main House Configuration: The main residence (1940 S. La Salle) offers a versatile layout that can be configured as 1-3 bedrooms downstairs and a 2-bed, 1-bath unit upstairs, or combined into a single home.
Buyer Interest Rate Concession: The seller is offering up to a 1% interest rate reduction for the first year through their preferred lender, providing a direct financial incentive for qualified buyers.

Cons

Short Sale Contingency: The final sales price is subject to short sale approval from existing lien holders, which can lead to extended timelines and potential transaction complexities.
Main House Condition/Age: Built in 1939, the primary residence (1940 S. La Salle) is presented as a 'design your own dream house,' indicating it likely requires substantial renovation or modernization unlike the remodeled rental units.
Significant Price Reduction: The property has seen a substantial price reduction from an original list price of $1.899M to $1.399M, which may suggest initial overpricing or underlying factors impacting its market value.

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