1140 N Chicago, Los Angeles, California 90033, Los Angeles, 90033 - 2 bed, 2 bath
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Los Angeles, California 90033
Analysis of 1140 N Chicago, Los Angeles, California 90033 is currently available with a list price of $555,000. The property maintains a Tear down Condition Rating (10/100), reflecting significant deferred maintenance. This property is best suited for experienced investors or developers prepared for substantial renovation work. Located in a high-demand neighborhood within the Los Angeles Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Property is land value only, full reconstruction required.
Built in 1923, this property is over 100 years old with no indication of major renovations in the past 50 years. The exterior appears neglected, featuring window-mounted AC units and an unkempt yard. The listing description heavily emphasizes 'development potential' and 'covered land,' suggesting the value lies in the land rather than the existing structure. The complete absence of interior photos, especially of kitchens and bathrooms, strongly implies these areas are in very poor or unlivable condition, consistent with a property whose structure is likely beyond economical repair and intended for demolition.
The property is explicitly marketed for developers, highlighting 'strong development potential' and its location within the new 'SB 79 Tier-2 zone' allowing for 'considerable more density'.
Directly across from USC Health Sciences Campus and Los Angeles General Medical Center, ensuring high demand from medical professionals and students, and excellent accessibility to DTLA.
Offers immediate income from existing tenants, making it attractive to investors seeking a property with current cash flow while planning future development.
The presence of 'low paying tenants' could complicate redevelopment plans, potentially requiring eviction processes or buyouts, adding time and cost.
Built in 1923, the current duplex is likely in need of significant renovation or demolition, which adds to the overall project cost for a developer.
The statement 'buyer to verify' regarding the SB 79 Tier-2 density places the responsibility for extensive due diligence on the buyer, introducing potential delays and costs before development can commence.
This prime 5,758 sq ft covered land on Chicago St North, Los Angeles, presents a rare opportunity for developers, investors, and/or owner-users. Situated in a high-demand area, the property offers strong development potential in a rapidly growing neighborhood. Property is currently occupied with low paying tenants. Lot does have alley access. Located right across the the street from USC Health Sciences Campus and the Los Angeles General Medical Center in the East LA/Boyle Heights submarket. The site benefits from excellent accessibility right outside DTLA. Its strategic position, now amplified with being in the new SB 79 Tier-2 zone should allow for considerable more density on the site, buyer to verify.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 0.0 | 82% |
| Baths | 2.0 | 0.0 | 82% |
| Square foot | 1,036 | 2,156 | 9% |
| Lot Size | 5,758 | 5,840 | 27% |
| Price | $555.0K | $685.0K | 9% |
| Price per sq ft | $536 | $408 | 82% |
| Built year | 1923 | 1924 | 36% |
| HOA | $0 | $0 | 50% |
| Days on market | 169 | 204 | 45% |
Nov 16, 2025
$555,000
$575,000
-3% Price Drop
Initial Listing
Nov 4, 2025
$575,000
Initial Listing