As far as the value of the home, you need to consider rebuilding costs. New construction costs in the LA area are on average $440 and higher for custom work.

At those prices, a new house, without the land, will cost at least $500000 to build (also note that a 1130 sq ft house isn’t really what most people want to buy, as the average new house size is around 2000 sq ft, putting the cost of a basic house at $880000, again without the land).