240 E 56th Street, Los Angeles, California 90011, Los Angeles, 90011 - 3 bed, 2 bath
ACTIVE$449,900
240 E 56th Street, Los Angeles, California 90011
3Beds
2Baths
932Sqft
3,077Lot
Year Built
1901
Close
-
List price
$450K
Original List price
$450K
Price/Sqft
$483
HOA
-
Days on market
-
Sold On
-
MLS number
SB25256068
Home ConditionPoor
Features
ViewNeighborhood
About this home
Fairly Priced:The estimated price is in line with the list price. We found 4 Cons,5 Pros. Rank: price - $449.9K(17th), sqft - 932(30th), beds - 3(50th), baths - 2(50th).
Investors or family - Move-In Ready Home - Affordable & Conveniently Located! Discover this desirable 3-bedroom, 2-bathroom home that’s perfect for investors. (Price reflects buyer responsibility for tenant)This property is tenant occupied and will be sold with tenant in place, however you can do you inspections. Completely gated for your privacy and security, the property features secure parking and a low-maintenance design. Enjoy the ease of living within walking distance to all essential amenities, including shopping, dining, and schools. With public transportation just steps away, commuting is a breeze! This home is ideal for those seeking an affordable and centrally located property!
Nearby schools
5/10
Estrella Elementary School
Public,•K-5•0.2mi
2/10
Main Street Elementary School
Public,•K-5•0.3mi
2/10
Forty-Ninth Street Elementary School
Public,•K-5•0.7mi
2/10
Aurora Elementary School
Public,•K-5•0.8mi
3/10
Sally Ride Elementary: A Smart Academy
Public,•K-5•1.0mi
3/10
Fifty-Second Street Elementary School
Public,•K-5•1.0mi
5/10
West Vernon Avenue Elementary School
Public,•K-5•1.1mi
2/10
Harmony Elementary School
Public,•K-5•1.3mi
2/10
Marguerite Poindexter Lamotte Elementary
Public,•K-5•1.3mi
4/10
Ricardo Lizarraga Elementary School
Public,•K-5•1.3mi
/10
Dr. James Edward Jones Primary Center
Public,•K-2•1.4mi
3/10
Los Angeles Academy Middle
Public,•6-8•0.4mi
3/10
George Washington Carver Middle School
Public,•6-8•1.0mi
2/10
John Muir Middle School
Public,•6-8•1.3mi
3/10
William Jefferson Clinton Middle School
Public,•6-8•1.9mi
2/10
Augustus F. Hawkins High A Critical Design And Gaming
Public,•9-12•1.1mi
3/10
John C. Fremont Senior High School
Public,•9-12•1.5mi
2/10
Thomas Jefferson Senior High School
Public,•9-12•1.6mi
3/10
Nava College Preparatory Academy
Public,•9-12•1.7mi
3/10
Manual Arts Senior High School
Public,•9-12•1.7mi
5/10
Santee Education Complex
Public,•9-12•2.6mi
Price History
Date
Event
Price
11/09/25
Listing
$449,900
11/25/09
Sold
$102,500
09/13/05
Sold
$390,000
Condition Rating
Poor
Built in 1901, this property is over a century old. While advertised as 'Move-In Ready,' the images reveal a home with very dated aesthetics and components. The kitchen features older oak-style cabinets, basic laminate countertops, and a tiled floor, despite having some newer stainless steel appliances (refrigerator and range). The bathroom is extremely basic, small, and outdated with a simple vanity and fixtures. The overall condition suggests that while the property is habitable, it requires substantial repairs and rehabilitation, particularly for major systems (plumbing, electrical, HVAC) and significant cosmetic updates to meet current standards. The visible elements point to a renovation, if any, that is likely 30-50+ years old, aligning with the 'Poor' category criteria.
Pros & Cons
Pros
Investment Potential: Explicitly marketed as 'perfect for investors' with a listing price below the estimated market value, offering potential for immediate equity or strong rental income.
Prime Location & Accessibility: Centrally located within walking distance to essential amenities (shopping, dining, schools) and steps away from public transportation, ensuring convenient urban living.
Enhanced Security & Privacy: The property is completely gated and includes secure parking, providing added privacy and peace of mind in an urban environment.
Affordable Entry Point: Described as an 'affordable' option in Los Angeles, with a list price significantly below the estimated property value, making it an attractive financial opportunity.
Move-In Ready Condition: The home is advertised as 'Move-In Ready,' suggesting minimal immediate renovation or repair costs for a new owner or tenant.
Cons
MLS Listing Discrepancy: Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 2.
Tenant Occupancy & Buyer Responsibility: The property is sold with a tenant in place, requiring the buyer to assume responsibility for the existing lease, which may complicate immediate occupancy or require legal processes for tenant transition.
Advanced Age of Property: Built in 1901, the home is over a century old, which could imply a need for significant updates to major systems (plumbing, electrical) and potentially higher ongoing maintenance expenses.
Limited Living Space: With 932 square feet for 3 bedrooms and 2 bathrooms, the interior living space is relatively compact, which may not appeal to all buyers or larger families seeking more expansive living areas.