1150 N Kingsley Drive, Los Angeles, California 90029, Los Angeles, 90029 - bed, bath
ACTIVE$1,350,000
1150 N Kingsley Drive, Los Angeles, California 90029
0Bed
0Bath
3,800Sqft
7,897Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Significant Development Potential: The property offers a prime opportunity for new development, specifically for a multi-unit complex, maximizing land utility in a desirable urban area.
Top Cons:
As-Is Sale Condition: The property is sold 'AS IS' with no repairs, indicating that the buyer will incur all costs associated with demolition, site preparation, and new construction.
Compared to the nearby listings
Price:$1.35M vs avg $1.38M ($-25,000)50%
Size:3,800 sqft vs avg 4,883 sqft50%
Price/sqft:$355 vs avg $29550%
More Insights
Built in 1928 (97 years old).
Condition: The property was built in 1928, making it over 90 years old. The listing explicitly states it is sold 'AS IS, no repairs will be conducted' and highlights the 'possibility of building a new 10-14 units total,' including the 'likely demolition of the existing 1928 structure.' The exterior images show a severely dated and neglected building with visible wear and tear, further supporting that the current structure is unlivable and its value is solely in the land for redevelopment.
Year Built
1928
Close
-
List price
$1.35M
Original List price
$1.35M
Price/Sqft
$355
HOA
-
Days on market
-
Sold On
-
MLS number
GD25122178
Home ConditionTear down
Features
View-
About this home
A perfect opportunity for a new development of multi unit complex. Possibility of building a new 10-14 units total( with housing), up to 15.000 Sqf of living space( verified with city planner). Property sold AS IS, no repairs will be conducted. Only serious investors to contact please. Don't miss out on this great investment opportunity.
Nearby schools
5/10
Kingsley Elementary School
Public,•K-5•0.0mi
3/10
Ramona Elementary School
Public,•K-6•0.2mi
/10
Lexington Avenue Primary Center
Public,•K-2•0.8mi
4/10
Lockwood Avenue Elementary School
Public,•K-6•0.8mi
4/10
Grant Elementary School
Public,•K-6•0.8mi
7/10
Los Feliz STEMM Magnet
Public,•K-6•0.9mi
4/10
Alexandria Avenue Elementary School
Public,•K-5•1.0mi
6/10
Dayton Heights Elementary School
Public,•K-5•1.1mi
3/10
Harvard Elementary School
Public,•K-5•1.1mi
6/10
Van Ness Avenue Elementary School
Public,•K-5•1.1mi
4/10
Frank Del Olmo Elementary School
Public,•K-6•1.4mi
7/10
Dr. Sammy Lee Medical And Health Science Magnet Elementary
Public,•K-5•1.5mi
5/10
Cahuenga Elementary School
Public,•K-5•1.5mi
6/10
Charles H. Kim Elementary School
Public,•K-5•1.5mi
3/10
Joseph Le Conte Middle School
Public,•6-8•0.9mi
6/10
Thomas Starr King Middle School
Public,•6-8•1.3mi
5/10
Virgil Middle School
Public,•6-8•1.4mi
4/10
Young Oak Kim Academy
Public,•6-8•2.1mi
7/10
John Burroughs Middle School
Public,•6-8•2.8mi
4/10
Helen Bernstein High School
Public,•9-12•0.7mi
8/10
John Marshall Senior High School
Public,•9-12•1.8mi
6/10
Hollywood Senior High School
Public,•9-12•2.1mi
3/10
Rfk Community Schools-Ambassador-Global Leadership
Public,•6-12•2.3mi
4/10
Rfk Community Schools-Los Angeles High School Of The Arts
Public,•9-12•2.3mi
5/10
Rfk Community Schools- For The Visual Arts And Humanities
Public,•9-12•2.3mi
3/10
Belmont Senior High School
Public,•9-12•3.1mi
7/10
Fairfax Senior High School
Public,•9-12•3.4mi
Price History
Date
Event
Price
06/20/94
Sold
$180,000
Condition Rating
Tear down
The property was built in 1928, making it over 90 years old. The listing explicitly states it is sold 'AS IS, no repairs will be conducted' and highlights the 'possibility of building a new 10-14 units total,' including the 'likely demolition of the existing 1928 structure.' The exterior images show a severely dated and neglected building with visible wear and tear, further supporting that the current structure is unlivable and its value is solely in the land for redevelopment.
Pros & Cons
Pros
Significant Development Potential: The property offers a prime opportunity for new development, specifically for a multi-unit complex, maximizing land utility in a desirable urban area.
High Unit Density Capacity: There is a verified possibility of building 10-14 total units, allowing for substantial rental income generation or resale value upon completion.
Large Buildable Area: The site can accommodate up to 15,000 Sqf of living space, providing ample room for a large-scale residential project.
City Planner Verification: The development potential has been verified with the city planner, significantly de-risking the project for potential investors by confirming feasibility.
Strategic Los Angeles Location: Situated in Los Angeles, a high-demand real estate market, ensuring strong long-term appreciation potential and tenant interest for new units.
Cons
As-Is Sale Condition: The property is sold 'AS IS' with no repairs, indicating that the buyer will incur all costs associated with demolition, site preparation, and new construction.
Requires Extensive Redevelopment: This is not a ready-to-use property; it necessitates a complete new development project, including the likely demolition of the existing 1928 structure.
High Capital Requirement: Marketed specifically for 'serious investors,' implying a substantial financial outlay for acquisition, demolition, and the entire multi-unit construction process.