3550 The Paseo, Los Angeles, California 90065, Los Angeles, 90065 - 4 bed, 3 bath

3550 The Paseo, Los Angeles, California 90065 home-pic-0
ACTIVE$1,200,000
3550 The Paseo, Los Angeles, California 90065
4Beds
3Baths
2,084Sqft
7,715Lot
Year Built
1923
Close
-
List price
$1.2M
Original List price
$1.2M
Price/Sqft
$576
HOA
-
Days on market
-
Sold On
-
MLS number
V1-30466
Home ConditionFair
Features
Good View: City Lights, Mountain(s), Neighborhood
ViewCity Lights,Mountain(s),Neighborhood

About this home

We found 3 Cons,5 Pros. Rank: price - $1.20M(75th), sqft - 2084(75th), beds - 4(50th), baths - 3(50th).

Nestled in the heart of Glassell Park, 3550 The Paseo offers a rare opportunity to own a unique multi-dwelling property with major upside potential. The main home features 2 bedrooms and 1 bath across 984 sq ft of vintage charm. Thoughtful additions have expanded the total living area to over 2,000 sq ft (currently in the permitting process), now offering three separate dwellings and a potential fourth space. The second unit includes 1 bedroom and 1 bath, while the third and fourth are stylish loft spaces with baths--one with a kitchen, one without. Two units are tenant-occupied, and one is owner-occupied, providing immediate rental income. Situated on a spacious 7,715 sq ft lot, there's plenty of land to expand or reimagine outdoor living. Whether you're looking to live in one and rent the others, create a creative compound, or invest in future cash flow, this flexible property offers multiple configurations in a sought-after LA neighborhood. Permit has been submitted for the additions. Buyer to verify all information and permitting with the city. Don't miss this incredible investment or live/work opportunity in one of Northeast LA's most desirable communities!

Price History

Date
Event
Price
06/18/25
$1,200,000
12/29/94
Sold
$80,000
Condition Rating
Fair

The property, built in 1923, shows significant age and is in need of substantial updates, particularly in the kitchen. The kitchen features dated honey-oak cabinets, older laminate or granite-look countertops, a beige tiled backsplash, and tiled flooring, suggesting renovations were done 15-30 years ago. Appliances are a mix of older white and newer stainless steel. Visible flooring includes worn hardwood and wood-look laminate. A window AC unit indicates a lack of central cooling. While functional and occupied, the property's 'vintage charm' and ongoing permitting process for additions, combined with neglected exterior areas and an overall dated aesthetic, place it firmly in the 'Fair' category, requiring minor updates and repairs to meet modern standards.
Pros & Cons

Pros

Income-Generating Potential: The property features multiple dwellings (three existing, potential fourth) with two units already tenant-occupied, providing immediate rental income and strong cash flow opportunities.
Significant Upside Potential: Described as having 'major upside potential' and flexibility for expansion on a spacious lot, allowing for various configurations such as live-in one/rent others, creative compound, or investment.
Prime Location: Situated in Glassell Park, a 'sought-after LA neighborhood' and 'one of Northeast LA's most desirable communities,' ensuring strong demand and appreciation potential.
Spacious Lot Size: A generous 7,715 sq ft lot provides ample space for further development, outdoor living enhancements, or future expansion possibilities.
Desirable Views: The property offers attractive 'City Lights, Mountain(s), Neighborhood' views, enhancing its overall appeal and potential market value.

Cons

Unfinalized Permitting: The expanded living area and additional units are 'currently in the permitting process,' requiring the buyer to verify all information and assume the risk/responsibility of final approval.
Age of Original Structure: Built in 1923, the main home's 'vintage charm' may imply older systems, potential deferred maintenance, or the need for significant updates in the original sections.
Extensive Buyer Due Diligence: The listing explicitly states 'Buyer to verify all information and permitting with the city,' indicating a higher level of due diligence is necessary, which could be a deterrent for some buyers.

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI

Browse Properties by State Browse housing market trends by state