1114 N Heliotrope Drive, Los Angeles, California 90029, Los Angeles, 90029 - 0 bed, 0 bath
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1114 N Heliotrope Drive
Los Angeles, California 90029
ACTIVE UNDER CONTRACT
CONDITION: TEAR DOWN
0Beds
0Baths
1,550Sq Ft
6,752Lot Size
Property Price
LIST PRICE$1,024,900
EST. MARKET VALUE
$937,770
9% AboveMARKET VALUE
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $1,024,900—positioned well above the $844,284 Fair Market Value by -21%. Featuring a Condition Rating of 6, this Multifamily Development Asset is marketed for land value, offering TOC Tier 4 incentives for a 30-unit project within an Opportunity Zone. With proximity to the Vermont/Santa Monica Metro and Los Angeles City College, this site is a strategic acquisition for Multifamily Developers or Institutional Investors focused on high-density urban growth.
Estimated Market Value
$937,770
Based on Realkey algorithm analyzing recent comparable sales in Los Angeles.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1114 N Heliotrope Drive Subject 0 bd · 0 ba · 1,550 sqft · $605 | $1,024,900* List Price | 0 | 0 | 1,550 | $605 | - |
A 1184 N Kenmore Sold 3 bd · 2 ba · 1,298 sqft · $655 · 0.2 mi | $850,000 | 3 | 2 | 1,298 | $655 | 0.2 mi |
B 1265 N Harvard Boulevard Active 4 bd · 1 ba · 1,488 sqft · $669 · 0.6 mi | $995,999 List Price | 4 | 1 | 1,488 | $669 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Tear down
TeardownExcellent
Property is land value only, full reconstruction required.
The property was built in 1919 (100+ years old) with no mention of renovations. It is explicitly marketed as a 'multifamily development opportunity' for a 30-unit project, indicating the existing structure holds no residential value and the listing is priced for land value.
PROSSTRENGTHS & OPPORTUNITIES
- High-Density Development Potential
The property qualifies for Transit Oriented Communities (TOC) Tier 4 incentives, supporting a proposed 30-unit residential project that significantly maximizes the lot's utility and investment value.
- Strategic Transit-Oriented Location
Situated near the Vermont and Santa Monica Metro station and Los Angeles City College, the site offers exceptional accessibility for future residents in a high-demand rental market.
- Opportunity Zone Tax Advantages
Located within a designated Opportunity Zone, this investment provides substantial federal tax incentives, including capital gains deferral and potential tax-free appreciation for long-term holders.
CONSRISKS & DEFICIENCIES
- Development Complexity and Costs
As a 1919 structure being sold primarily for land value, the buyer faces significant costs for demolition and the lengthy, complex process of realizing the proposed 30-unit development.
- Lack of Ready-to-Issue Permits
The project is currently in the 'proposed' stage rather than being shovel-ready, which introduces entitlement risk and potential delays in the construction timeline for the developer.
About 1114 N Heliotrope Drive
Multifamily development opportunity situated on an approximately 6,750 square foot lot within an Opportunity Zone. The property had a proposed five story, 30 unit residential project totaling approximately 15,450 square feet. The unit mix included studio, one bedroom, two bedroom, and three bedroom residences, with a portion of the units designated as affordable housing including TOC Tier 4 incentives. Located near the Vermont and Santa Monica Metro station and Los Angeles City College, the property offers potential for a future multifamily development.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1919
- Lot Size
- 6,752 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Los Angeles Unified Schools
Ramona Elementary School
Grades K-6 • 0.3 mi
3/10
Lexington Avenue Primary Center
Grades K-2 • 0.4 mi
0/10
Lockwood Avenue Elementary School
Grades K-6 • 0.4 mi
4/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 3.0 |
| Baths | 0.0 | 2.0 |
| Square foot | 1,550 | 1,670.836 |
| Lot Size | 6,752 | 6,152.156 |
| Price | $1.02M | $1.34M |
| Price per sq ft | $661 | $807 |
| Built year | 1919 | 1941 |
| HOA | $0 | $238 |
| Days on market | 34 | 56 |
Pricing History
Listed for Sale
Oct 6, 2026
$1,024,900
Initial Listing
Sold
Nov 26, 2019
$1,665,000
Public Record
Sold
Nov 1, 2007
$550,000
Public Record