1121 5th Avenue, Los Angeles, California 90019, Los Angeles, 90019 - 0 bed, 0 bath
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Los Angeles, California 90019
This High-Potential Development Asset is listed at $2,450,000, representing a stable entry point aligned with its $2,377,396 Fair Market Value. Currently a triplex in Fair Condition, the property’s primary value is driven by the expansive 14,196 sqft lot and LARD1.5 Zoning, which permits the development of up to 9 units and 2 ADUs. Boasting City Skyline and Mountain Views, the site offers immediate passive income with substantial rental upside. This rare, long-held acquisition is a strategic choice for Developers and Value-Add Investors seeking high-density ROI in a prime Los Angeles hub.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1121 5th Avenue Subject | $2,450,000* List Price | 0 | 0 | 4,669 | $509 | - |
A 4756 Edgewood Active | $2,199,000 List Price | 0 | 0 | 4,650 | $473 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1948, this triplex is a functional but aged property that has not been significantly updated in recent decades. The lack of interior photos and the listing's heavy emphasis on development potential (zoning for 9 units) strongly suggest that the kitchens, bathrooms, and major systems are outdated and require modernization. While the exterior appears maintained and the property is currently occupied by tenants, the aging infrastructure and 77-year-old build date align with the 'fair' condition category for a property that is functional but shows significant signs of being outdated.
The LARD1.5 zoning allows for the construction of up to 9 units plus 2 ADUs, offering a massive value-add opportunity for developers in a high-demand area.
Sitting on a rare 14,196 square foot lot, the property provides a substantial footprint that is increasingly difficult to find in central Los Angeles.
Located in a 'hot' neighborhood, the property boasts close proximity to trendy restaurants, shopping, parks, and major transportation hubs, ensuring high desirability.
Current tenants are paying significantly below market rent, which limits immediate yield and may present challenges for investors seeking maximum initial ROI.
Built in 1948, the property likely requires modernization or significant maintenance to compete with newer residential offerings in the area.
Several assigned public schools in the immediate vicinity have lower performance ratings, which could be a deterrent for long-term family-oriented tenants.
First time on the market in over 25 years. Welcome to 1121 5th Ave, Los Angeles CA 90019. This Property is absolutely stunning, and a great opportunity to enjoy passive income. In addition.. it is zoned LARD1.5, which enables the new owner to build up to 9 units and 2 ADUs ( verified with Building and Safety ) sitting on a huge lot. HOT AREA for new development opportunity in one of L.A.'s Hottest Neighborhood. Close proximity to shopping, restaurants, schools, parks, public transportation, and freeway. The Tenants are paying well below market rent.
No exterior & parking available.
Grades K-5 • 0.6 mi
Grades K-5 • 0.7 mi
Grades K-5 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 4,669 | 2,878.5 | 90% |
| Lot Size | 14,196 | 6,098.5 | 95% |
| Price | $2.45M | $1.11M | 90% |
| Price per sq ft | $525 | $469 | 80% |
| Built year | 1948 | 1928 | 75% |
| HOA | $0 | $0 | 50% |
| Days on market | 426 | 236 | 95% |
Feb 20, 2025
$2,450,000
Initial Listing