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632 E 87th, Los Angeles, California 90002, Los Angeles, 90002 - 3 bed, 2 bath

632 E 87th, Los Angeles, California 90002 home-pic-0
ACTIVE UNDER CONTRACT$599,000
632 E 87th, Los Angeles, California 90002
3Beds
2Baths
1,503Sqft
5,321Lot
Year Built
1923
Close
-
List price
$599K
Original List price
$599K
Price/Sqft
$399
HOA
-
Days on market
-
Sold On
-
MLS number
SR25247851
Home ConditionPoor
Features
View-

About this home

Possibly Over-Priced:The estimated price is 4% below the list price. We found 3 Cons,6 Pros. Rank: price - $599.0K(50th), sqft - 1503(80th), beds - 3(50th), baths - 2(50th).

First Time on the Market in Over 50 Years! This rare opportunity offers tremendous potential for investors and first-time buyers looking for a project. Situated on a flat, R2-zoned lot of over 5,300 sq ft, this property allows for the development of a 2 units plus an additional ADU (please verify with LADBS)—perfect for generating future income or expanding your living space. The existing home spans over 1,500 sq ft and features 3 spacious bedrooms and 2 bathrooms. One bedroom is currently being used as a living area, providing flexible layout options. Additional highlights include an indoor laundry room, bonus office space, and an extra-long paved driveway offering ample parking. Enjoy a fully fenced, oversized backyard—ideal for privacy, entertaining, or relaxation. Centrally located with quick access to public transportation, the 110 and 105 freeways, Downtown LA, USC, USC Medical Center, the KIA Forum, SoFi Stadium, Intuit Dome, and LAX. Also close to Green Meadows Recreation Center, numerous K–12 schools, supermarkets, and the world-famous Roscoe’s Chicken & Waffles. With the 2028 LA Olympics on the horizon, now is the perfect time to invest in this promising property! Special financing maybe available for qualified buyers such as low down-payment, no PMI, or credits to closing costs. "Walk Score" is 74. "Most errands can be accomplished on foot (walkscore.com)."

Nearby schools

3/10
South Park Elementary School
Public,•K-6•0.2mi
3/10
Ninety-Third Street Elementary School
Public,•K-6•0.6mi
5/10
Russell Elementary School
Public,•K-6•0.7mi
5/10
Ninety-Ninth Street Elementary School
Public,•K-6•0.9mi
3/10
Ninety-Sixth Street Elementary School
Public,•K-6•1.1mi
4/10
One Hundred Seventh Street Elementary School
Public,•K-5•1.4mi
2/10
One Hundred Ninth Street Elementary School
Public,•K-5•1.5mi
3/10
One Hundred Twelfth Street Elementary School
Public,•K-5•1.9mi
4/10
One Hundred Sixteenth Street Elementary School
Public,•K-5•2.1mi
5/10
One Hundred Eighteenth Street School
Public,•K-5•2.3mi
6/10
One Hundred Twenty-Second Street Elementary School
Public,•K-5•2.6mi
1/10
Charles Drew Middle School
Public,•6-8•0.9mi
2/10
Mary Mcleod Bethune Middle School
Public,•6-8•1.3mi
3/10
Edwin Markham Middle School
Public,•6-8•1.6mi
2/10
Samuel Gompers Middle School
Public,•6-8•2.0mi
3/10
Carver Elementary School
Public,•PK-8•2.6mi
5/10
Willowbrook Middle School
Public,•6-8•3.3mi
3/10
John C. Fremont Senior High School
Public,•9-12•0.8mi
2/10
David Starr Jordan Senior High School
Public,•9-12•2.2mi
3/10
Centennial High School
Public,•9-12•3.1mi
9/10
Compton Early College High
Public,•9-12•3.3mi

Price History

Date
Event
Price
10/27/25
Listing
$599,000
08/02/12
Sold
$445,004
10/20/11
Sold
$110,000
04/11/06
Sold
$340,000
04/29/02
Sold
$133,000
06/05/01
Sold
$101,500
Condition Rating
Poor
Built in 1923 and explicitly marketed as a 'project,' this property requires substantial repairs and modernization. The kitchen features outdated cabinets, laminate countertops, and an old backsplash. Bathrooms are severely dated with a yellow vanity, old fixtures, and worn surfaces. Flooring consists of old carpet and linoleum/vinyl throughout. Major systems like heating appear to be old wall units, and electrical components show age. The property has not undergone significant renovations in over 50 years, indicating extensive deferred maintenance and a need for a complete overhaul to meet current living standards.
Pros & Cons

Pros

Great Schools: High School: Compton Early College High (9/10).
Development & Income Potential: R2 zoning on a spacious, flat 5,300+ sq ft lot allows for the development of two units plus an ADU, offering significant future income generation or expanded living.
Strategic Central Location: Exceptional access to major freeways (110, 105), public transit, Downtown LA, USC, and key entertainment/employment hubs like SoFi Stadium and LAX, complemented by a high Walk Score of 74.
Investment & Appreciation Opportunity: Positioned as a prime 'project' for investors and first-time buyers, with potential for significant appreciation, especially with the upcoming 2028 LA Olympics.
Functional Layout & Outdoor Space: The existing 1,500+ sq ft home offers a flexible 3-bed/2-bath layout, indoor laundry, bonus office, ample parking via an extra-long driveway, and a private, oversized, fenced backyard.
Buyer-Friendly Financing: Availability of special financing options, including low down-payment, no PMI, or closing cost credits, enhances accessibility for qualified purchasers.

Cons

Significant Renovation Required: Built in 1923 and explicitly marketed as a 'project,' the property will require substantial investment in renovations, repairs, and modernization to unlock its full value.
Lack of Scenic Views: The property does not offer any notable views, which may be a deterrent for buyers prioritizing aesthetic outlooks.
Potential Overvaluation: The current list price is approximately 9% above the estimated property value, suggesting a potential overvaluation given the 'project' nature and required future investment.

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