12020 Ocean Park, Los Angeles, California 90064, Los Angeles, 90064 - 2 bed, 1 bath
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12020 Ocean Park
Los Angeles, California 90064
ACTIVE
CONDITION: TEAR DOWN
2Beds
1Baths
1,018Sq Ft
5,665Lot Size
Property Price
LIST PRICE$1,699,000
EST. MARKET VALUE
$1,582,483
7% AboveMARKET VALUE
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $1,699,000—positioned above the $1,582,484 Fair Market Value. While priced at a premium, the asset features RTI plans for three residential units, including a duplex and an ADU, which significantly accelerate the development timeline. With a Condition Rating of 6 (tear-down), the value lies entirely in the 5,665 SF lot and approved entitlements. This is a strategic acquisition ideal for Real Estate Developers or Investors seeking to maximize density in a prime West Los Angeles location.
Estimated Market Value
$1,582,483
Based on Realkey algorithm analyzing recent comparable sales in Los Angeles.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 12020 Ocean Park Subject 2 bd · 1 ba · 1,018 sqft · $1,555 | $1,699,000* List Price | 2 | 1 | 1,018 | $1,555 | - |
A 11842 Ocean Park Boulevard Active 3 bd · 1 ba · 922 sqft · $1,350 · 0.1 mi | $1,245,000 List Price | 3 | 1 | 922 | $1,350 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Tear down
TeardownExcellent
Property is land value only, full reconstruction required.
The property is explicitly marketed as a tear-down development opportunity with RTI plans. Built in 1951, the existing structure is over 50 years old with no renovations, and the value lies entirely in the land and approved plans for new construction.
PROSSTRENGTHS & OPPORTUNITIES
- RTI Development Ready
The property comes with Ready-to-Issue (RTI) plans for three units, significantly reducing the entitlement timeline and allowing for immediate construction start.
- Prime Westside Location
Ideally situated in a highly desirable West Los Angeles neighborhood near Santa Monica and Culver City, ensuring strong future resale value and high rental demand.
- High-Density Potential
The approved plans for two 4-bedroom units plus an ADU maximize the lot's utility, offering a substantial increase in square footage and income-generating potential.
CONSRISKS & DEFICIENCIES
- Total Tear-Down Condition
The existing 1951 structure is a complete tear-down, requiring the buyer to incur immediate demolition costs with no possibility for interim rental income.
- High Acquisition Cost
At a list price of nearly $1.7M for the land, investors must carefully manage construction budgets to maintain profitable margins in a competitive development market.
About 12020 Ocean Park
Exceptional West Los Angeles development opportunity with RTI plans for three beautiful new residential units. Located at 12020 Ocean Park Blvd in a highly desirable West L.A. location, this property offers an excellent opportunity for developers, investors, or owner-users looking to build in one of Los Angeles’ sought-after Westside communities. RTI plans call for approximately 5,028 SF of new construction, featuring a duplex with two spacious 4-bedroom, 4-bathroom units, plus a 2-bedroom ADU, along with a 3-car garage. The existing residence is a tear-down, allowing the next owner to move forward with the approved development plans. The property is ideally situated near Santa Monica, Culver City, Mar Vista, Venice, and the Westside’s restaurants, shopping, parks, entertainment, and major transportation corridors. Enjoy convenient access to the beach, Westside amenities, and some of Los Angeles’ most desirable neighborhoods. RTI plans. Prime Westside location. Excellent development potential. Ready for the next owner to bring this exciting project to life. Buyer to independently verify all plans, permits, square footage, zoning, and development information with the appropriate City departments
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1951
- Lot Size
- 5,665 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.0 |
| Baths | 1.0 | 2.0 |
| Square foot | 1,018 | 1,670.836 |
| Lot Size | 5,665 | 6,152.156 |
| Price | $1.70M | $1.34M |
| Price per sq ft | $1.7K | $807 |
| Built year | 1951 | 1941 |
| HOA | $0 | $238 |
| Days on market | 48 | 56 |
Pricing History
Listed for Sale
Sep 22, 2026
$1,699,000
Initial Listing
Sold
Oct 5, 2020
$1,050,000
Public Record