1121 5th Avenue, Los Angeles, California 90019, Los Angeles, 90019 - bed, bath
ACTIVE$2,450,000
1121 5th Avenue, Los Angeles, California 90019
0Bed
0Bath
4,669Sqft
14,196Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Significant Development Potential: The property is zoned LARD1.5, allowing for the construction of up to 9 units and 2 ADUs on a large lot, presenting a substantial opportunity for future development and increased density.
Top Cons:
Property Age: Built in 1948, the property is 76 years old, which may indicate the need for significant capital expenditures on deferred maintenance, system upgrades, or extensive renovations to meet modern standards.
Compared to the nearby listings
Price:$2.45M vs avg $1.35M (+$1,100,000)92%
Size:4,669 sqft vs avg 3,908 sqft69%
Price/sqft:$525 vs avg $45585%
More Insights
Built in 1948 (77 years old).
Condition: Built in 1948 and on the market for the first time in over 25 years, this property likely has not seen significant renovations in decades. The absence of any interior photos, particularly of the kitchen and bathrooms, strongly suggests these areas are in very outdated and poor condition, requiring substantial rehabilitation. The listing's mention of 'tenants paying well below market rent' and the property analysis highlighting the need for 'significant capital expenditures on deferred maintenance, system upgrades, or extensive renovations to meet modern standards' further support a 'poor' condition assessment, indicating more than just minor updates are needed.
Year Built
1948
Close
-
List price
$2.45M
Original List price
$2.45M
Price/Sqft
$525
HOA
-
Days on market
-
Sold On
-
MLS number
PW25035453
Home ConditionPoor
Features
Good View:
Deck
View-
About this home
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.
Nearby schools
7/10
Queen Anne Place Elementary School
Public,•K-5•0.6mi
3/10
Wilton Place Elementary School
Public,•K-5•0.7mi
3/10
Arlington Heights Elementary School
Public,•K-5•0.7mi
6/10
Carson-Gore Academy Of Enviornmental Studies
Public,•K-5•0.8mi
3/10
Los Angeles Elementary School
Public,•K-5•0.9mi
2/10
Twenty-Fourth Street Elementary School
Public,•K-5•1.3mi
3/10
Sixth Avenue Elementary School
Public,•K-5•1.7mi
5/10
Pio Pico Middle School
Public,•6-8•0.5mi
3/10
Johnnie Cochran, Jr., Middle School
Public,•6-8•0.6mi
7/10
John Burroughs Middle School
Public,•6-8•1.3mi
4/10
Los Angeles Senior High School
Public,•9-12•0.8mi
4/10
West Adams Preparatory High School
Public,•9-12•2.0mi
2/10
Susan Miller Dorsey Senior High School
Public,•9-12•2.4mi
Condition Rating
Poor
Built in 1948 and on the market for the first time in over 25 years, this property likely has not seen significant renovations in decades. The absence of any interior photos, particularly of the kitchen and bathrooms, strongly suggests these areas are in very outdated and poor condition, requiring substantial rehabilitation. The listing's mention of 'tenants paying well below market rent' and the property analysis highlighting the need for 'significant capital expenditures on deferred maintenance, system upgrades, or extensive renovations to meet modern standards' further support a 'poor' condition assessment, indicating more than just minor updates are needed.
Pros & Cons
Pros
Significant Development Potential: The property is zoned LARD1.5, allowing for the construction of up to 9 units and 2 ADUs on a large lot, presenting a substantial opportunity for future development and increased density.
Prime Location: Located in a 'HOT AREA' of Los Angeles, offering excellent proximity to shopping, restaurants, schools, parks, public transportation, and freeways, enhancing its appeal for both residents and developers.
Existing Income Stream: As a triplex, the property currently generates passive income, providing immediate cash flow for an investor while also offering potential for future growth.
Value-Add Opportunity (Rents): Current tenants are paying well below market rent, presenting a clear and immediate opportunity for a new owner to significantly increase rental income and property value.
Large Lot Size: Sitting on a substantial 14,196 sqft lot, which is a significant asset in Los Angeles, providing ample space for the permitted multi-unit development.
Cons
Property Age: Built in 1948, the property is 76 years old, which may indicate the need for significant capital expenditures on deferred maintenance, system upgrades, or extensive renovations to meet modern standards.
Tenant Management for Rent Increase: While below-market rents offer upside, increasing them may involve navigating existing tenant relationships, potential vacancies, or legal processes, which can be complex and time-consuming for a new owner.
Development Project Complexity: Realizing the full potential of building 9 units and 2 ADUs is a major undertaking that requires substantial capital investment, extensive planning, permitting, and construction expertise, which may not be suitable for all buyers.