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4649 W Avenue 40, Los Angeles, California 90065, Los Angeles, 90065 - 2 bed, 1 bath

4649 W Avenue 40, Los Angeles, California 90065 home-pic-0
ACTIVE$1,195,000
4649 W Avenue 40, Los Angeles, California 90065
2Beds
1Bath
1,282Sqft
5,666Lot
Year Built
1938
Close
-
List price
$1.2M
Original List price
$1.23M
Price/Sqft
$932
HOA
-
Days on market
-
Sold On
-
MLS number
RS24242454
Home ConditionPoor
Features
ViewNeighborhood

About this home

Possibly Over-Priced:The estimated price is 29% below the list price. We found 4 Cons,5 Pros. Rank: price - $1.20M(43th), sqft - 1282(35th), beds - 2(35th), baths - 1(21th).

**Charming Home in Glassell Park - A Rare Opportunity!** Welcome to this delightful home in the heart of Glassell Park, one of the most sought-after neighborhoods in NELA. This gem hasn’t been on the market in over 30 years, making it a rare find! **Key Features:** - **Prime Location**: Just minutes from Downtown Los Angeles and conveniently located near the 210, 134, and 110 freeways for easy commuting. - **Versatile Living Space**: The home offers three bedrooms and two bathrooms, with a functional layout that includes a two-bedroom, one-bath upstairs and an additional bedroom and family room with a separate bathroom downstairs. The property boasts 1,282 sq ft on title, with over 900 sq ft of grandfathered space downstairs, providing a total of 2,182 sq ft of living area. - **Endless Possibilities**: Bring your creativity and transform this space into your dream home. Whether you want to modernize the interior or expand, the possibilities are endless! - **Spacious Backyard**: Enjoy entertaining family and friends in your expansive backyard, complete with mature trees and citrus trees, ideal for outdoor gatherings or simply relaxing in your private oasis. Don’t miss out on this incredible opportunity to own a piece of Glassell Park! Schedule your showing today and envision the potential this charming home has to offer!

Price History

Date
Event
Price
09/02/25
Sold
$1,020,000
04/12/18
Sold
$647,000
Condition Rating
Poor
Built in 1938 and explicitly stated to require 'extensive modernization' and 'transformation into a dream home,' this property has not been on the market in over 30 years, indicating a lack of recent renovations. The absence of interior photos, particularly of the kitchen and bathrooms, strongly suggests these key areas are severely outdated and in need of substantial repairs and rehabilitation. The exterior and backyard images also show signs of neglect, reinforcing the need for significant investment to update major components and systems.
Pros & Cons

Pros

Prime NELA Location: Situated in Glassell Park, a sought-after NELA neighborhood, offering convenient access to Downtown Los Angeles and major freeways (210, 134, 110).
Significant Functional Living Space: The property offers a substantial 2,182 sq ft of functional living area, including 900 sq ft of grandfathered space, providing ample room for various living arrangements.
Expansive Private Backyard: Features a large, private backyard with mature and citrus trees, creating an ideal setting for outdoor entertaining and relaxation.
Value-Add Opportunity: Presents a rare opportunity for buyers to modernize and customize the interior, allowing for significant value appreciation through renovation.
Long-Term Ownership & Rarity: Has not been on the market in over 30 years, making it a unique and rare offering in a desirable neighborhood.

Cons

Recently Sold Property: The property was recently sold within the past year on 2025-09-02. The sold price is $1,020,000.00.
Discrepancy in Official vs. Functional Space: The official MLS records state 2 beds, 1 bath, and 1,282 sq ft, which significantly differs from the described functional space of 3 beds, 2 baths, and 2,182 sq ft (including grandfathered space). This discrepancy can complicate financing and future resale.
Potential Overpricing & Market Resistance: The current listing price of $1.195M is considerably higher than the estimated property value of $848,357, and the property has been on the market for over 4 months with a recent price reduction, suggesting it may be overpriced.
Requires Extensive Modernization: The property explicitly requires modernization and transformation, indicating that a new owner will need to invest substantial capital and effort into updates to meet contemporary standards.

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