1047 S Oxford Avenue, Los Angeles, California 90006, Los Angeles, 90006 - 4 bed, 2 bath
ACTIVE$1,490,000
1047 S Oxford Avenue, Los Angeles, California 90006
4Beds
2Baths
2,287Sqft
6,502Lot
Price Vs. Estimate
The estimated value ($1,355,751.485) is $134,248.515 (9%) lower than the list price ($1,490,000). This property may be overpriced.
Key pros and cons
Top Pros:
High-Density Redevelopment Potential: The property is explicitly marketed as a 'single lot redevelopment opportunity' with the potential to build a 29-unit apartment building, offering significant future income generation.
Top Cons:
Specialized Buyer Pool: This is a highly specialized asset primarily appealing to experienced developers or investors, significantly limiting the potential buyer demographic compared to a traditional residential property.
Compared to the nearby listings
Price:$1.49M vs avg $837.5K (+$652,500)90%
Size:2,287 sqft vs avg 1,862.5 sqft60%
Price/sqft:$652 vs avg $51870%
More Insights
Built in 1908 (117 years old).
Condition: Built in 1908, this property is explicitly marketed as a 'redevelopment opportunity' for a 29-unit apartment building, indicating its value lies in the land, not the existing structure. The exterior images show a very old, weathered house with significant deferred maintenance and no signs of recent major renovations. The absence of interior photos further suggests the current structure is not considered livable or a selling point, aligning with the 'tear-down' criteria where the structure is beyond repair and the property's value is based solely on the land.
Year Built
1908
Close
-
List price
$1.49M
Original List price
$1.49M
Price/Sqft
$652
HOA
-
Days on market
-
Sold On
-
MLS number
25574753
Home ConditionTear down
Features
View-
About this home
A single lot redevelopment opportunity !! 6,500 sf / R4-1 / TOC Tier 3 / Council District 10 / Enterprise zone. Utilizing the TOC program, a 29 unit apartment may be built (26 market rates / 3 low incomes). Fully vacant delivery at COE !!
Nearby schools
3/10
Hobart Boulevard Elementary School
Public,•K-5•0.2mi
3/10
Los Angeles Elementary School
Public,•K-5•0.2mi
/10
Mariposa-Nabi Primary Center
Public,•K-2•0.5mi
3/10
Wilton Place Elementary School
Public,•K-5•0.6mi
6/10
Carson-Gore Academy Of Enviornmental Studies
Public,•K-5•1.0mi
2/10
Twenty-Fourth Street Elementary School
Public,•K-5•1.2mi
5/10
Pio Pico Middle School
Public,•6-8•0.7mi
3/10
Berendo Middle School
Public,•6-8•0.8mi
3/10
Johnnie Cochran, Jr., Middle School
Public,•6-8•1.3mi
3/10
Rfk Community Schools-Ambassador-Global Leadership
Public,•6-12•0.9mi
4/10
Rfk Community Schools-Los Angeles High School Of The Arts
Public,•9-12•0.9mi
5/10
Rfk Community Schools- For The Visual Arts And Humanities
Public,•9-12•0.9mi
4/10
West Adams Preparatory High School
Public,•9-12•1.3mi
4/10
Los Angeles Senior High School
Public,•9-12•1.5mi
Condition Rating
Tear down
Built in 1908, this property is explicitly marketed as a 'redevelopment opportunity' for a 29-unit apartment building, indicating its value lies in the land, not the existing structure. The exterior images show a very old, weathered house with significant deferred maintenance and no signs of recent major renovations. The absence of interior photos further suggests the current structure is not considered livable or a selling point, aligning with the 'tear-down' criteria where the structure is beyond repair and the property's value is based solely on the land.
Pros & Cons
Pros
High-Density Redevelopment Potential: The property is explicitly marketed as a 'single lot redevelopment opportunity' with the potential to build a 29-unit apartment building, offering significant future income generation.
Favorable Zoning & TOC Tier 3: Zoned R4-1 and designated TOC Tier 3, this property benefits from substantial density bonuses, allowing for a much larger development (26 market rate / 3 low income units) than standard zoning would permit.
Vacant Delivery at COE: The 'fully vacant delivery at COE' ensures a clear site for immediate development upon closing, eliminating the complexities and costs associated with tenant relocation or eviction.
Strategic Location: Situated in the Mid-Wilshire area (Council District 10), a central and desirable Los Angeles neighborhood, which supports strong rental demand for future apartment units due to its accessibility and amenities.
Enterprise Zone Benefits: Location within an 'Enterprise zone' may offer potential tax incentives or other development benefits, enhancing the project's financial viability.
Cons
Specialized Buyer Pool: This is a highly specialized asset primarily appealing to experienced developers or investors, significantly limiting the potential buyer demographic compared to a traditional residential property.
Significant Development Costs & Timeline: Realizing the 29-unit potential requires substantial capital investment for demolition, construction, permitting, and a lengthy development timeline, posing significant financial and logistical challenges.
Age of Existing Structure & Demolition: The existing 1908-built single-family home will likely require complete demolition, incurring additional costs and potential environmental considerations (e.g., asbestos, lead paint) before new construction can commence.