788 E 40th Place, Los Angeles, California 90011, Los Angeles, - bed, bath
ACTIVE$569,900
788 E 40th Place, Los Angeles, California 90011
3Beds
2Baths
1,220Sqft
2,885Lot
Year Built
1915
Close
-
List price
$570K
Original List price
$549K
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
CV25160290
Home ConditionGood
Features
ViewNeighborhood
About this home
BACK IN THE MARKET PENDING CANCELLATION OF CURRENT ESCROW. Short Sale Opportunity! Charming Craftsman bungalow in central LA- blending vintage character with modern updates. Featuring hardwood floors, 3 bedrooms, high ceilings, an updated kitchen and bathrooms , and a private backyard with an avocado tree. Recent upgrades include roof, plumbing, kitchen and electrical. This Amazing home is strategically located on a prime area close to USC, Downtown LA and freeways for easy access. Don't miss this chance to own a gem with tons of potential at a great value!
Nearby schools
2/10
Harmony Elementary School
Public,•K-5•0.2mi
3/10
Wadsworth Avenue Elementary School
Public,•K-5•0.2mi
4/10
Quincy Jones Elementary School
Public,•K-5•0.3mi
4/10
Ricardo Lizarraga Elementary School
Public,•K-5•0.4mi
3/10
Trinity Street Elementary School
Public,•K-5•0.5mi
3/10
Sally Ride Elementary: A Smart Academy
Public,•K-5•0.6mi
/10
Maple Primary Center
Public,•K-1•0.6mi
3/10
Twenty-Eighth Street Elementary School
Public,•K-5•0.6mi
2/10
Forty-Ninth Street Elementary School
Public,•K-5•0.8mi
5/10
Dolores Huerta Elementary School
Public,•K-5•0.8mi
4/10
Nevin Avenue Elementary School
Public,•K-5•0.9mi
5/10
Twentieth Street Elementary School
Public,•K-5•1.1mi
5/10
West Vernon Avenue Elementary School
Public,•K-5•1.1mi
5/10
San Pedro Street Elementary School
Public,•K-5•1.4mi
5/10
Menlo Avenue Elementary School
Public,•K-5•1.6mi
2/10
Marguerite Poindexter Lamotte Elementary
Public,•K-5•1.6mi
/10
Dr. James Edward Jones Primary Center
Public,•K-2•1.8mi
4/10
Norwood Street Elementary School
Public,•K-5•2.0mi
2/10
John W. Mack Elementary School
Public,•K-5•2.2mi
3/10
George Washington Carver Middle School
Public,•6-8•0.5mi
2/10
Dr. Julian Nava Learning Academies-School Of Business And Technology
Public,•6-8•0.9mi
3/10
William Jefferson Clinton Middle School
Public,•6-8•1.0mi
4/10
John Adams Middle School
Public,•6-8•1.1mi
2/10
John Muir Middle School
Public,•6-8•2.3mi
2/10
Barack Obama Global Preparation Academy
Public,•6-8•2.8mi
2/10
Thomas Jefferson Senior High School
Public,•9-12•0.6mi
3/10
Nava College Preparatory Academy
Public,•9-12•0.6mi
5/10
Santee Education Complex
Public,•9-12•1.3mi
3/10
Manual Arts Senior High School
Public,•9-12•1.7mi
4/10
West Adams Preparatory High School
Public,•9-12•2.6mi
Price History
Date
Event
Price
10/02/25
Price Change
$569,900+3.8%
07/16/25
Listing
$549,000
04/19/24
Sold
$575,000
07/07/03
Sold
$155,000
Neighborhood Comparison
| Subject | Average Home | Neighbourhood Ranking (31 Listings) | |
|---|---|---|---|
| Beds | 3 | 3 | 50% |
| Baths | 2 | 2 | 50% |
| Square foot | 1,220 | 1,218 | 50% |
| Lot Size | 2,885 | 5,148 | 19% |
| Price | $570K | $550K | 53% |
| Price per square foot | $467 | $498 | 41% |
| Built year | 1915 | 9555956 | 72% |
| HOA | |||
| Days on market | 111 | 193 | 19% |
Condition Rating
Good
Despite being built in 1915, the property has undergone significant and recent updates, including the roof, plumbing, electrical, kitchen, and bathrooms. The kitchen features modern gray shaker cabinets, stainless steel appliances, and solid surface countertops. Bathrooms also have updated vanities and fixtures. While some original elements like the hardwood floors show wear, and the exterior retains its vintage character, the critical systems and key living areas are move-in ready and appear to have been renovated within the last 5-15 years, aligning with a 'Good' condition score.
Pros & Cons
Pros
Short Sale Opportunity: The property is presented as a short sale, potentially offering a buyer the chance to acquire a charming home at a competitive value.
Strategic Central Location: Located in a prime area of Central LA, offering excellent proximity to USC, Downtown LA, and major freeways, ensuring convenient access and strong rental potential.
Extensive Recent Upgrades: Significant recent upgrades to the roof, plumbing, kitchen, and electrical systems mitigate common concerns associated with older homes, providing modern functionality.
Charming Craftsman Architecture: The property retains its vintage Craftsman character while benefiting from modern updates, including hardwood floors, high ceilings, and updated kitchen and bathrooms.
Private Outdoor Space: Features a private backyard with an avocado tree, offering a desirable outdoor retreat and unique amenity.
Cons
Short Sale Process Uncertainty: The 'pending cancellation of current escrow' and short sale nature indicate a potentially lengthy, complex, and uncertain transaction process for buyers.
Age of Property: Built in 1915, despite recent upgrades, the property's age may still lead to unforeseen maintenance issues or require ongoing upkeep typical of historic homes.
Compact Lot Size: The lot size of 2885 sqft is relatively small, which might limit outdoor living space or future expansion possibilities for some prospective buyers.