1234 W Martin Luther King Jr Boulevard W, Los Angeles, California 90037, Los Angeles, 90037 - bed, bath

1234 W Martin Luther King Jr Boulevard W, Los Angeles, California 90037 home-pic-0
ACTIVE$1,449,000
1234 W Martin Luther King Jr Boulevard W, Los Angeles, California 90037
0Bed
0Bath
13,294Sqft
6,403Lot
Year Built
1912
Close
-
List price
$1.45M
Original List price
$1.45M
Price/Sqft
$109
HOA
-
Days on market
-
Sold On
-
MLS number
DW25149983
Home ConditionTear down
Features
Excellent View: City Lights, Panoramic
ViewCity Lights,Panoramic

About this home

We found 3 Cons,5 Pros. Rank: price - $1.45M(91th), sqft - 13294(96th), beds - undefined(50th), baths - undefined(50th).

Development Opportunity in Prime Los Angeles – RTI for 17 Units! Unlock the full potential of this prime Los Angeles property! Currently a single-family home, this site comes RTI (Ready to Issue) with approved plans for 17 units — all that’s left is to pull the permits and start building. Located in a high-demand area of L.A., this is a rare, shovel-ready opportunity for investors and developers seeking a fast-track, high-yield multifamily project. RTI – Save time and money Approved for 17 units, These have 11 units with 1 bedroom/ 1 bath & 6 Units with 2 bedroom & 2 bath. Total of 23 Bedroom & 23 Bath. this offer a lot of amenities as a 4 floor to use like a terrace with a beutiful view, an comunity Center and mucho more. Ideal for multifamily development Strong rental demand in surrounding area Convenient access to transit, shops, dining, and more Prime area near USC, Lucas Museum of Narrative Art, BMO Stadium Whether you're expanding your portfolio or breaking ground on your next signature project, this property offers the kind of entitlements and location that make for a winning investment. Now is a Single Family residence with 3 bed and 2 bath.

Condition Rating
Tear down

The property, built in 1912, is explicitly marketed as a 'Development Opportunity' with 'RTI for 17 Units,' indicating the existing structure is intended for demolition. No images or details of the current single-family home's interior (kitchen, bathrooms, etc.) are provided, only architectural renderings of the proposed new building. This strongly suggests the value lies in the land and development potential, not the existing, very old structure, which is presumed to be beyond repair or significant renovation for modern use.
Pros & Cons

Pros

Ready-to-Issue (RTI) Entitlements: Approved plans for 17 units are 'Ready to Issue,' significantly de-risking and accelerating the development process by saving time and money on complex permitting.
Prime Los Angeles Location: Situated in a high-demand area near major attractions like USC, Lucas Museum of Narrative Art, and BMO Stadium, ensuring strong future rental demand and property value.
High-Yield Multifamily Development: Approved for 17 units (11x1-bed, 6x2-bed) on a single lot, offering a high-density, high-return investment opportunity in a desirable urban market.
Strong Rental Market Demand: The description explicitly notes 'strong rental demand in surrounding area,' indicating a robust and reliable market for the future multifamily units.
Planned Amenities & Views: The approved 4-floor design includes a terrace with panoramic city views and a community center, enhancing marketability and tenant appeal for the future development.

Cons

Demolition Costs & Time: The existing 1912 single-family home (or duplex) requires demolition, adding to initial project costs and timeline before new construction can commence.
Substantial Construction Capital Required: Despite RTI, the actual construction of a 17-unit building represents a significant financial commitment, requiring substantial capital investment from the developer.
Exposure to Construction Risks: The project is still subject to typical construction risks, including potential delays, cost overruns, and unforeseen challenges during the building phase.

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