12440 Wagner Street, Los Angeles, California 90066, Los Angeles, 90066 - 3 bed, 2 bath
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Los Angeles, California 90066
This property presents a High-Potential Investment Opportunity with a List Price of $1,200,000—positioned well below the $1,203,899 Fair Market Value by 0.32%. Featuring a 5,625 SF lot in a prime Silicon Beach location, the asset offers significant redevelopment potential for a luxury build. Given the Condition Rating of 6, the structure is a teardown, making this a strategic acquisition for Fix-and-Flip Investors or Developers. With proximity to top-rated schools like Farragut Elementary, this site is primed for high-end residential appreciation.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 12440 Wagner Street Subject | $1,200,000* List Price | 3 | 2 | 1,026 | $1,168 | - |
A 12516 Greene Avenue Sold | $1,300,000 | 3 | 2 | 1,248 | $1,042 | 0.3 mi |
B 4176 Mildred Avenue Sold | $1,475,000 | 3 | 1 | 1,204 | $1,225 | 0.7 mi |
C 4256 Neosho Avenue Sold | $1,475,000 | 3 | 2 | 1,246 | $1,184 | 0.6 mi |
D 12923 Gilmore Avenue Pending | $1,099,900 List Price | 3 | 1 | 936 | $1,175 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1952 (>70 years old) with no renovations. The listing explicitly states 'the value is in the dirt,' suggests scraping the structure, and requires all-cash offers due to the home's condition, indicating it is unlivable.
Elementary School: Farragut Elementary School (9/10).
Boasting a 5,625+ SF lot, one of the largest in the tract, this property offers a rare footprint for a substantial luxury rebuild with ample space for a large backyard.
Situated in the heart of the tech and creative economy, the property provides immediate access to Playa Vista, Culver City, and major coastal hubs like Venice and Marina del Rey.
The existing 1952 structure is considered a teardown with the primary value residing in the land, necessitating a complete redevelopment or extensive capital investment.
Due to the uninhabitable condition of the current home, the sale is restricted to all-cash offers, which significantly limits the buyer pool by excluding those relying on traditional mortgage financing.
The value is in the dirt. 12440 Wagner Street sits on one of the largest lots in the tract at 5,600+ SF (BTV) — and in this neighborhood, that's a serious opportunity. Many neighbors have already done it: scraped the original structure and built stunning, large, and modern luxury homes. This lot's footprint allows for a large house plus a great backyard. The existing 3 bed, 2 bath home is situated in one of the most geographically desirable pockets on the entire Westside. Quick access to the 405 and 90, minutes to Venice Beach, Marina del Rey, Playa del Rey, and Santa Monica. LAX is a straight shot down Lincoln. You're also right in the heart of Silicon Beach — surrounded by the tech and creative economy campuses of Playa Vista and Culver City — with the Ballona Wetlands and Venice Boardwalk practically in your backyard. Del Rey is a quiet, community-oriented, and welcoming neighborhood, yet still priced below its neighbors — but not for long. Lots like this don't come twice. Buyer to verify buildable potential with their architect and the City of LA Planning Department. Due to the condition of the existing home, all-cash offers only.
No exterior & parking available.
Grades K-5 • 0.4 mi
Grades K-5 • 0.6 mi
Grades K-6 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,026 | 1,672 |
| Lot Size | 5,625 | 6,067 |
| Price | $1.20M | $1.37M |
| Price per sq ft | $1.2K | $801 |
| Built year | 1952 | 1939 |
| HOA | $0 | $348 |
| Days on market | 40 | 56 |
Jun 12, 2026
$1,200,000
Initial Listing