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11250 Mississippi Avenue, Los Angeles, California 90025, Los Angeles, 90025 - 3 bed, 1 bath

11250 Mississippi Avenue, Los Angeles, California 90025 home-pic-0
ACTIVE$1,425,000$1,178/sqft
Est. Value: $1,343,792
-5%
AboveEstimate
11250 Mississippi Avenue, Los Angeles, California 90025
3Beds
1Bath
1,178Sqft
4,240Lot

Price Vs. Estimate

The estimated value ($1,343,791.645) is $81,208.355 (5%) lower than the list price ($1,425,000). This property may be overpriced.

Key pros and cons

Top Pros:
Great Schools: Elementary School: Franklin Elementary School (9/10).
Top Cons:
Teardown Requirement: The existing structure is a 'teardown property,' necessitating demolition costs and time before new construction can commence.

Compared to the nearby listings

Price:$1.43M vs avg $2.03M ($-602,500)8%
Size:1,178 sqft vs avg 1,794.5 sqft4%
Price/sqft:$1.2K vs avg $1.0K81%

More Insights

Built in 1947 (79 years old).
Condition: The property, built in 1947, is explicitly described as a 'teardown property' and an 'exceptional development opportunity' with plans for a new multi-unit building. This indicates the existing structure is considered beyond repair or renovation for its highest and best use, and its value is based on the land for redevelopment, aligning perfectly with the 'tear-down' criteria.
Year Built
1947
Close
-
List price
$1.43M
Original List price
$1.43M
Price/Sqft
$1,210
HOA
-
Days on market
-
Sold On
-
MLS number
26637963
Home ConditionTear down
Features
Good View: City Lights
Patio
ViewCity Lights

About this home

11250 Mississippi presents an exceptional development opportunity in prime West Los Angeles featuring a nearly Ready-to-Issue (RTI) project. The offering includes a teardown property with three bedrooms and two bathrooms. The included plans are for a modern four-unit apartment building designed for luxury townhouse-style living. Each unit is approximately 1,400 square feet with 2 bedrooms and 2.5 bathrooms, complemented by approximately 600 square feet of private rooftop space ideal for indoor-outdoor entertaining. The project also includes two on-site parking spaces per unit, a highly sought-after amenity in this submarket. Ideally located in the heart of Sawtelle, just moments from Sawtelle Boulevard's renowned dining and shopping, and minutes from UCLA, Westwood, Brentwood, Santa Monica, and Century City, this nearly RTI project offers a rare opportunity for developers to deliver high-demand new construction in one of West LA's most desirable and supply-constrained neighborhoods.

H
Heather Altman
Listing Agent

Nearby schools

7/10
Nora Sterry Elementary School
Public,•K-5•0.5mi
6/10
Richland Avenue Elementary School
Public,•K-6•0.8mi
9/10
Overland Avenue Elementary School
Public,•K-5•1.2mi
8/10
Clover Avenue Elementary School
Public,•K-5•1.2mi
5/10
Brockton Avenue Elementary School
Public,•K-5•1.3mi
8/10
Mar Vista Elementary School
Public,•K-5•1.7mi
8/10
Edison Elementary School
Public,•PK-5•1.8mi
8/10
Grant Elementary School
Public,•PK-5•1.9mi
8/10
McKinley Elementary School
Public,•PK-5•2.1mi
9/10
Franklin Elementary School
Public,•PK-5•2.5mi
6/10
John Adams Middle School
Public,•6-8•2.5mi
8/10
Lincoln Middle School
Public,•6-8•2.9mi
6/10
University Senior High School
Public,•9-12•1.2mi
6/10
Venice Senior High School
Public,•9-12•2.8mi
8/10
Santa Monica High School
Public,•9-12•3.2mi

Price History

Date
Event
Price
04/29/22
Sold
$1,050,000
Condition Rating
Tear down
The property, built in 1947, is explicitly described as a 'teardown property' and an 'exceptional development opportunity' with plans for a new multi-unit building. This indicates the existing structure is considered beyond repair or renovation for its highest and best use, and its value is based on the land for redevelopment, aligning perfectly with the 'tear-down' criteria.
Pros & Cons

Pros

Great Schools: Elementary School: Franklin Elementary School (9/10).
Development-Ready Opportunity: The property is explicitly marketed as an 'exceptional development opportunity' with included plans for a modern four-unit apartment building.
Prime Sawtelle Location: Ideally located in the heart of Sawtelle, moments from renowned dining and shopping, and minutes from UCLA, Westwood, Brentwood, Santa Monica, and Century City.
Advanced Permitting Status: The project is 'nearly Ready-to-Issue (RTI),' significantly de-risking the entitlement process and accelerating the development timeline.
High-Demand Luxury Design: Plans include modern townhouse-style units with private rooftop spaces and two on-site parking spaces per unit, catering to a premium market segment.
Supply-Constrained Market: Situated in one of West LA's most desirable and 'supply-constrained neighborhoods,' indicating strong demand for new construction and potential for robust returns.

Cons

Teardown Requirement: The existing structure is a 'teardown property,' necessitating demolition costs and time before new construction can commence.
Remaining Permitting Steps: While 'nearly RTI,' this implies there may still be final approvals, fees, or minor adjustments required before full permit issuance, potentially causing slight delays.
Significant Capital Outlay: As a development project, it requires substantial upfront capital for acquisition, demolition, and construction, along with inherent development risks.
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