723 N Ridgewood Place, Los Angeles, California 90038, Los Angeles, 90038 - 4 bed, 4 bath
ACTIVE$1,350,000
723 N Ridgewood Place, Los Angeles, California 90038
4Beds
4Baths
3,732Sqft
6,732Lot
Year Built
1925
Close
-
List price
$1.35M
Original List price
$1.5M
Price/Sqft
$362
HOA
-
Days on market
-
Sold On
-
MLS number
SR25199290
Home ConditionFair
Features
ViewNeighborhood
About this home
We found 3 Cons,5 Pros. Rank: price - $1.35M(67th), sqft - 3732(67th), beds - 4(67th), baths - 4(67th).
Incredible opportunity to own a well-maintained 4-unit property located in one of L.A.'s most iconic neighborhoods. Each spacious 1 bed, 1 bath unit features in-unit laundry, a well-appointed layout, and comfortable living space. Tenants enjoy the convenience of their own garage and carport parking space, a rare find in the area. Whether you're an investor or looking to live in one unit and rent the others, this centrally located property is close to studios, shopping, dining, and everything Hollywood has to offer!
Price History
Date
Event
Price
11/18/25
Price Change
$1,350,000-10.0%
09/06/25
Listing
$1,500,000
Condition Rating
Fair
The property, built in 1925, shows evidence of recent cosmetic updates, including a modern-looking kitchen with new white shaker cabinets, granite countertops, a stainless steel refrigerator, and updated flooring throughout the visible living areas. Walls are freshly painted. However, despite these appealing updates, the property's age suggests that major systems (plumbing, electrical, HVAC) are likely outdated, even if functional, and may require significant future investment. The lack of information on these critical systems and bathrooms, combined with the 1925 build year, places the overall condition in the 'Fair' category, indicating an aged but maintained home with functional but likely outdated major components.
Pros & Cons
Pros
Prime Location: Centrally located in an iconic Los Angeles neighborhood, offering excellent proximity to studios, shopping, dining, and Hollywood attractions, which is highly attractive to tenants.
Strong Income Potential: As a 4-unit quadruplex, the property provides significant rental income opportunities, ideal for investors or owner-occupiers looking to offset mortgage costs.
Desirable Unit Amenities: Each spacious 1-bedroom unit features in-unit laundry and a well-appointed layout, enhancing tenant appeal and retention in a competitive rental market.
Valuable Parking: The provision of dedicated garage and carport parking for each unit is a rare and highly sought-after amenity in this dense urban area, adding significant value for tenants.
Recent Price Adjustment: A notable price reduction from $1.5M to $1.35M indicates increased value and potential for a more favorable acquisition for prospective buyers.
Cons
Age of Property: Built in 1925, the property may have older infrastructure (plumbing, electrical, HVAC) that could require significant capital expenditure for upgrades or ongoing maintenance to meet modern standards.
Limited Unit Diversity: All units are 1-bedroom, 1-bathroom, which might limit the potential tenant pool compared to properties offering a mix of unit sizes to cater to different household needs.
Potential for Deferred Maintenance: While described as 'well-maintained,' a property of this age often carries inherent risks of hidden or deferred maintenance issues that could necessitate future investment.