What Can You Buy in Northeast LA for Under $700K?
Three recently sold homes that prove there's more than one way to break into the Los Angeles real estate market. If you've been thinking about buying a home in Los Angeles, you've probably wondered whether it's even possible to find something for under $700,000.
With so many homes in Northeast LA selling for well over a million dollars, it's easy to assume that homeownership in neighborhoods like Highland Park, El Sereno, and Lincoln Heights is out of reach.
But here's the thing: there are still opportunities out there. You might just need to rethink what your first home looks like. I wanted to share three properties that recently sold for under $700K. Each offers something completely different, and together they're a good reminder that finding the right home is often about figuring out what matters most to you.
1. The Charming Bungalow: El Sereno
3526 Chadwick Drive, Los Angeles, CA 90032
Sold for $699,000 | 2 Bedrooms | 1 Bathroom | 775 Sq Ft
If you're drawn to the charm of an older home and dream of having your own backyard, this little El Sereno bungalow is a great example of what's possible.
Built in 1923, the home has been thoughtfully updated while maintaining its character. Inside, you'll find an open kitchen with French doors leading to a patio deck, while the backyard offers room for gardening, entertaining, or simply enjoying some outdoor space.
At 775 square feet, it's definitely on the smaller side. But for someone who values a detached home, privacy, and outdoor space over extra square footage, it could be a great fit.
The trade-off: Less interior space, but the independence of a single-family home and a yard to call your own.
2. The Spacious Condo: Hermon / Highland Park Area
6221 Monterey Road #205, Los Angeles, CA 90042
Sold for $699,000 | 2 Bedrooms | 2 Bathrooms | 1,520 Sq Ft
Now, for the exact same purchase price, let's look at something completely different.
This two-bedroom, two-bathroom condo near Highland Park offers approximately twice the interior space of the El Sereno bungalow. With 1,520 square feet, an open living area, plenty of natural light, in-unit laundry, and two parking spaces, this property offers conveniences that can be harder to find in an older single-family home at the same price point. Of course, there's a trade-off. Condo living typically comes with shared spaces, association rules, and monthly HOA fees. This particular condo has reported HOA dues of $756 per month, which is an important expense to factor into your budget. The trade-off: More interior space and convenience, but less privacy and an additional monthly HOA expense.
3. The Fixer With Potential: Lincoln Heights
124 W Avenue 30, Los Angeles, CA 90031
Sold for $688,000 | 3 Bedrooms | 2 Bathrooms | 1,210 Sq Ft
And then there's the fixer-upper. Built in 1911, this Craftsman home in Lincoln Heights has the kind of character that makes older Los Angeles homes so appealing. With three bedrooms, two bathrooms, approximately 1,210 square feet, and a 5,352-square-foot lot, it offered a combination of space, history, and potential. The home needed work, but for a buyer with the vision and resources to renovate, a property like this presents an opportunity to create something special over time. One interesting detail? The home was originally listed at $599,000 and ultimately sold for $688,000. It's a reminder that a low asking price doesn't necessarily mean a home will sell for that amount, especially when a property attracts multiple interested buyers.
The trade-off: More space and the opportunity to make a home your own, but potentially significant renovation costs and unexpected repairs.
So, Which Would You Choose?
Three homes. Three different neighborhoods. Three completely different opportunities, all for less than $700K.
One offers charm and a backyard. Another offers more interior space and convenience. And the third offers the opportunity to restore an older home and make it your own.
If I were helping a buyer navigate these options, I'd start by asking a few questions:
Is having a detached home more important than square footage?
Would you rather have something move-in ready or are you comfortable taking on renovations?
How important is outdoor space?
What monthly payment are you comfortable with, including HOA fees, taxes, and insurance?
Are you looking for a home that works for you today, or something you can grow into over time?
The answers can make a big difference in where and what you should be looking for.
Remember, the Purchase Price Is Only Part of the Picture
One thing I always remind buyers is that the price of a home doesn't tell the whole story. A $688K fixer could ultimately cost more than a $699K move-in-ready property once renovations are factored in. Similarly, a condo with a monthly HOA fee may have a different overall monthly cost than a detached home at the same purchase price. You'll also want to account for closing costs, property taxes, insurance, maintenance, and any immediate improvements. That's why I always encourage buyers to get clear on their numbers before they start shopping. Understanding your budget beyond the purchase price makes it easier to recognize the right opportunity when it comes along.
Your First Home Doesn't Have to Be Your Forever Home
After 17 years in real estate, one thing I've learned is that buying a home is rarely about finding something that checks every single box. Sometimes it's about finding a home that works for this stage of your life, in a neighborhood you enjoy, at a price that makes sense for you. Maybe that means starting with a smaller bungalow, choosing a condo with more space, or taking on a fixer you can improve over time. There isn't one right way to become a homeowner. And as these three recent sales show, buying in Northeast LA for under $700K is still possible. It just might look a little different than you imagined.
