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787 Terrace 49, Los Angeles, California 90042, Los Angeles, 90042 - 3 bed, 2 bath

787 Terrace 49, Los Angeles, California 90042 home-pic-0
ACTIVE$898,000
787 Terrace 49, Los Angeles, California 90042
3Beds
2Baths
1,200Sqft
8,469Lot
Year Built
1936
Close
-
List price
$898K
Original List price
$998K
Price/Sqft
$748
HOA
-
Days on market
-
Sold On
-
MLS number
GD25167744
Home ConditionPoor
Features
Good View: Mountain(s), Neighborhood
Deck
ViewMountain(s), Neighborhood

About this home

We found 3 Cons,5 Pros. Rank: price - $898.0K(22th), sqft - 1200(44th), beds - 3(50th), baths - 2(50th).

Fantastic FLIP opportunity! Positioned in one of Los Angeles' most ideally-located neighborhoods. Attention investors this home sits on a spacious sized lot with 8,469 sq ft., offering incredible potential for a complete renovation or a flip. A standout feature of this property is the long driveway, providing ample parking for multiple cars. Even further it is set on a hillside with views of the mountains from the permitted open deck. It has the elements to create your own private compound. This home is just a short distance from both York and Figueroa Blvd, where you can enjoy a variety of restaurants, coffee shops, stores, schools, parks, and more. It's also a short drive to Pasadena, Downtown L.A., and Occidental College. Easy access to major highways, you're well-connected to the best that Highland Park and the surrounding areas have to offer. !!!!!!! PROPERTY TO BE SOLD "AS IS"CONDITIONS. ALL "CASH ONLY". Please research the property before submitting any offers and do not submit blind offers! All offers will be shown to the seller.

Price History

Date
Event
Price
09/30/25
Price Change
$898,000-2.9%
08/20/25
Price Change
$925,000-7.3%
07/25/25
$998,000
05/17/07
Sold
$520,000
Condition Rating
Poor
This property is explicitly marketed as a 'Fantastic FLIP opportunity' requiring a 'complete renovation or a flip,' and is being sold 'AS IS' for 'CASH ONLY.' These are strong indicators of significant deferred maintenance and the need for substantial repairs. Built in 1936, the property is very old. While one bathroom appears to have some more recent updates (marble-look tile, jetted tub, modern vanity), the other bathroom is very dated with an old shower enclosure and basic fixtures. Interior images show worn carpet, cluttered spaces, and visible damage to walls and ceilings (e.g., holes in the ceiling, exposed wall sections), suggesting structural or extensive cosmetic issues. The kitchen is not clearly visible but appears basic. Overall, the property requires substantial rehabilitation and major system replacements to be comfortable and safe for modern living, aligning with the 'poor' condition criteria.
Pros & Cons

Pros

Prime Location & Neighborhood Amenities: Positioned in an ideally-located Los Angeles neighborhood, offering short distances to vibrant York and Figueroa Blvds with diverse restaurants, coffee shops, stores, schools, and parks. It also provides easy access to Pasadena, Downtown L.A., Occidental College, and major highways.
Significant Investment/Flip Potential: Explicitly marketed as a 'Fantastic FLIP opportunity' for investors, indicating high potential for value appreciation through a complete renovation.
Spacious Lot Size: Features a generous 8,469 sq ft lot, which is substantial for Los Angeles, offering ample space for expansion, extensive landscaping, or creating a private compound.
Mountain Views & Permitted Deck: Set on a hillside with appealing mountain views from a permitted open deck, enhancing the property's desirability and potential for outdoor living.
Ample Parking: A long driveway provides ample parking for multiple cars, a valuable and often scarce amenity in many Los Angeles neighborhoods.

Cons

As-Is Condition & Extensive Renovation Required: The property is sold 'AS IS' and requires a 'complete renovation,' implying significant upfront investment, potential for unforeseen costs, and a substantial project for the buyer.
Cash-Only Transaction: The 'CASH ONLY' requirement severely limits the pool of potential buyers, potentially leading to a longer market time and reduced competitive offers.
Multiple Price Reductions: The listing has undergone several price reductions from the original $998,000 to $898,000, which may signal challenges in valuation or underlying issues that have deterred previous buyers.

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