1153 S Kingsley Drive, Los Angeles, California 90006, Los Angeles, 90006 - 2 bed, 1 bath
ACTIVE$899,000
1153 S Kingsley Drive, Los Angeles, California 90006
2Beds
1Bath
1,320Sqft
5,903Lot
Price Vs. Estimate
The estimated value ($848,442.76) is $50,557.24 (5%) lower than the list price ($899,000). This property may be overpriced.
Key pros and cons
Top Pros:
Approved Development Plans (RTI): The property includes Ready-to-Issue (RTI) permits and approved plans for a new 5-unit project (fourplex plus ADU), significantly de-risking and accelerating the development process for investors.
Top Cons:
Age and Condition of Existing Structure: Built in 1910, the current 2-bedroom, 1-bath single-family home is old and likely requires demolition or extensive renovation, adding initial costs and complexity to the project.
Compared to the nearby listings
Price:$899.0K vs avg $837.5K (+$61,500)60%
Size:1,320 sqft vs avg 1,560.5 sqft40%
Price/sqft:$681 vs avg $51890%
More Insights
Built in 1910 (115 years old).
Condition: Built in 1910, this property is over 110 years old. The images clearly show severely outdated and worn-out kitchen and bathroom facilities, indicating no major renovations in many decades. The listing description explicitly markets it as a 'blank slate' for 'investors or developers' and highlights 'RTI permits and approved plans to build a new 5-unit project,' strongly suggesting the existing structure is intended for demolition and the value is in the land and redevelopment potential. This aligns perfectly with the 'tear-down' criteria.
Year Built
1910
Close
-
List price
$899K
Original List price
$999K
Price/Sqft
$681
HOA
-
Days on market
-
Sold On
-
MLS number
PW25112815
Home ConditionTear down
Features
Patio
ViewNeighborhood
About this home
Unlock the potential of this 1910-built single-family home on a spacious 5,901 SF lot in the heart of Mid-Wilshire/Koreatown. Featuring 1,320 SF of living space with 2 bedrooms, 1 bath, and a second-story attic bonus area, this blank slate is ideal for investors or developers. The sale includes RTI (Ready-to-Issue) permits and approved plans to build a new 5-unit project—fourplex plus ADU—offering exceptional redevelopment opportunity in a high-demand rental market. Don't miss this rare chance to reimagine or rebuild in one of LA’s most vibrant neighborhoods.
Nearby schools
3/10
Los Angeles Elementary School
Public,•K-5•0.1mi
3/10
Hobart Boulevard Elementary School
Public,•K-5•0.3mi
/10
Mariposa-Nabi Primary Center
Public,•K-2•0.4mi
3/10
Wilton Place Elementary School
Public,•K-5•0.9mi
2/10
Twenty-Fourth Street Elementary School
Public,•K-5•1.1mi
6/10
Carson-Gore Academy Of Enviornmental Studies
Public,•K-5•1.1mi
3/10
Berendo Middle School
Public,•6-8•0.6mi
5/10
Pio Pico Middle School
Public,•6-8•0.9mi
3/10
Johnnie Cochran, Jr., Middle School
Public,•6-8•1.4mi
3/10
Rfk Community Schools-Ambassador-Global Leadership
Public,•6-12•0.8mi
4/10
Rfk Community Schools-Los Angeles High School Of The Arts
Public,•9-12•0.8mi
5/10
Rfk Community Schools- For The Visual Arts And Humanities
Public,•9-12•0.8mi
4/10
West Adams Preparatory High School
Public,•9-12•1.0mi
4/10
Los Angeles Senior High School
Public,•9-12•1.8mi
Price History
Date
Event
Price
09/11/23
Sold
$1,040,000
Condition Rating
Tear down
Built in 1910, this property is over 110 years old. The images clearly show severely outdated and worn-out kitchen and bathroom facilities, indicating no major renovations in many decades. The listing description explicitly markets it as a 'blank slate' for 'investors or developers' and highlights 'RTI permits and approved plans to build a new 5-unit project,' strongly suggesting the existing structure is intended for demolition and the value is in the land and redevelopment potential. This aligns perfectly with the 'tear-down' criteria.
Pros & Cons
Pros
Approved Development Plans (RTI): The property includes Ready-to-Issue (RTI) permits and approved plans for a new 5-unit project (fourplex plus ADU), significantly de-risking and accelerating the development process for investors.
Prime Los Angeles Location: Located in the heart of Mid-Wilshire/Koreatown, a vibrant and highly desirable area of Los Angeles known for its amenities and strong real estate demand.
High-Demand Rental Market: The area is explicitly noted as a 'high-demand rental market,' ensuring strong potential for rental income and occupancy rates for the future multi-unit development.
Significant Redevelopment Potential: A spacious 5,901 SF lot combined with the 'blank slate' nature of the existing structure offers exceptional potential for maximizing density and value through the approved multi-unit project.
Clear Investor/Developer Focus: The property is ideally positioned for investors and developers, offering a clear path to value creation through ground-up construction in a sought-after urban infill location.
Cons
Age and Condition of Existing Structure: Built in 1910, the current 2-bedroom, 1-bath single-family home is old and likely requires demolition or extensive renovation, adding initial costs and complexity to the project.
Limited Appeal for Traditional Homebuyers: The property's primary value lies in its development potential, making the existing small, outdated structure unsuitable for typical owner-occupant buyers seeking a move-in ready home.
Specialized Buyer Pool: The nature of this opportunity (a development project) narrows the potential buyer pool to experienced investors or developers, which could potentially affect market time.