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1215 W 39th Place, Los Angeles, California 90037, Los Angeles, 90037 - 4 bed, 2 bath

1215 W 39th Place, Los Angeles, California 90037 home-pic-0
ACTIVE$1,250,000
1215 W 39th Place, Los Angeles, California 90037
4Beds
2Baths
2,828Sqft
11,061Lot
Year Built
1923
Close
-
List price
$1.25M
Original List price
$1.3M
Price/Sqft
$442
HOA
-
Days on market
-
Sold On
-
MLS number
25581935
Home ConditionTear down
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.25M(97th), sqft - 2828(91th), beds - 4(64th), baths - 2(50th).

Investor/Developer Opportunity Near USC! Zoned LAR3 with a deep 11,061 SF lot (50' x 222'), this duplex is ideally located in a high-demand rental area near Exposition Park and USC. Existing improvements include 2 detached structures totaling approx. 2,828 SF: one 1BR/1BA (788 SF) and one 3BR/1BA (2,040 SF). Property is believed to qualify for TOC Tier 3, offering potential for up to 22 units with density bonus, reduced parking, and height/setback incentives. Property will be DELIVERED VACANT! Buyer to independently verify zoning, TOC eligibility, development potential, and all regulations with the City of Los Angeles. Walk Score 96. Ideal for student housing or infill multifamily. Property to be delivered vacant at close. Do not miss this rare build opportunity.

Price History

Date
Event
Price
10/17/25
Price Change
$1,250,000-3.8%
07/21/25
Listing
$1,300,000
Condition Rating
Tear down
Built in 1923, this property shows extensive wear and tear with no evidence of major renovations in many decades. The kitchen features extremely outdated tiled countertops, old white appliances, and basic cabinets. The bathroom has a dated pedestal sink and hexagonal floor tiles. Hardwood floors are worn, and light fixtures are old. The MLS description explicitly markets this as an 'Investor/Developer Opportunity' and 'build opportunity,' indicating that the value lies primarily in the land and its redevelopment potential (LAR3 zoning), rather than the existing structures. While technically livable, the structures are functionally obsolete and would require comprehensive, costly renovations, making demolition for new construction the most economically viable option.
Pros & Cons

Pros

Significant Development Potential: Zoned LAR3 with believed qualification for TOC Tier 3, offering potential for up to 22 units with density bonuses, reduced parking, and height/setback incentives, making it a prime build opportunity.
Prime Location & High Demand: Ideally located near USC and Exposition Park in a high-demand rental area, perfect for student housing or infill multifamily, supported by an excellent Walk Score of 96.
Large, Developable Lot: A deep 11,061 SF lot (50' x 222') provides ample space for substantial multifamily development, aligning with the LAR3 zoning and TOC potential.
Delivered Vacant: The property will be delivered vacant at close, eliminating tenant relocation complexities and costs, which is a significant advantage for immediate development or renovation.
Investor/Developer Focus: Explicitly marketed as an 'Investor/Developer Opportunity,' indicating clear potential for high returns through redevelopment in a desirable market.

Cons

Age of Existing Structures: Built in 1923, the existing duplex is likely outdated and may require significant demolition costs or extensive renovation if not redeveloped, adding to project expenses.
Extensive Buyer Due Diligence Required: The listing places the full burden on the buyer to independently verify zoning, TOC eligibility, development potential, and all regulations, introducing a level of risk and additional upfront costs.
Recent Price Reduction: The property has seen a recent price reduction from $1.3M to $1.25M, which could suggest initial overpricing or slower market interest than anticipated.

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