1331 12th Avenue, Los Angeles, California 90019, Los Angeles, 90019 - 2 bed, 1 bath
ACTIVE$850,000
1331 12th Avenue, Los Angeles, California 90019
2Beds
1Bath
1,050Sqft
6,738Lot
Price Vs. Estimate
The estimated value ($845,113.24) is $4,886.76 (0%) lower than the list price ($850,000). This property may be overpriced.
Key pros and cons
Top Pros:
Development Potential: The property is situated on a 6,738 sq ft lot with RD2-1-O-CPIO zoning, allowing for the construction of 4 to 6 units, presenting a significant opportunity for developers.
Top Cons:
Advanced Age of Structure: Built in 1913, the existing home is over a century old, which may necessitate significant renovations, updates to systems, or ongoing maintenance.
Compared to the nearby listings
Price:$850.0K vs avg $1.38M ($-532,500)9%
Size:1,050 sqft vs avg 1,761.5 sqft12%
Price/sqft:$810 vs avg $80152%
More Insights
Built in 1913 (112 years old).
Condition: The property, built in 1913, is over a century old. While the listing states it is 'move in ready as-is,' implying functionality, the images reveal a significantly dated interior. The kitchen features older wooden cabinets, laminate countertops, and white appliances that are not modern. The bathroom is also very basic with an older vanity, standard tub/shower, and dated finishes. Flooring consists of worn carpets and older tiles. Light fixtures are simple and outdated, and a wall heater suggests a lack of central HVAC. The overall condition indicates that while the home is maintained and livable, it has not undergone major renovations in many decades, likely 20-30 years ago for some cosmetic updates, and shows considerable physical depreciation and outdated styles. It requires substantial cosmetic updates and system modernizations to meet current standards.
Year Built
1913
Close
-
List price
$850K
Original List price
$850K
Price/Sqft
$810
HOA
-
Days on market
-
Sold On
-
MLS number
25627905
Home ConditionFair
Features
Good View: City Lights
ViewCity Lights
About this home
This 2-bedroom one bathroom home located in prime mid-city is a wealth-building opportunity for developers and home-buyers looking to live and grow in a great location. This rare dual-path opportunity is set on a 6,738 sq ft RD2-1-O-CPIO lot and for developers and new homeowners with ambition and vision, this property has the space and the zoning that allows you to build 4 to 6 units. For first time and second time home buyers looking to build wealth while living in a great neighborhood with quiet streets, feel free to take your time remodeling this lovely home as it is move in ready as-is and at an affordable price. The potential increase in value that can be obtained by taking this property and transforming it from the lovely house it is today to it's next version is limitless. Don't hesitate as this is a great opportunity to build value and create wealth that won't last long.
Nearby schools
3/10
Arlington Heights Elementary School
Public,•K-5•0.4mi
7/10
Queen Anne Place Elementary School
Public,•K-5•0.5mi
6/10
Carson-Gore Academy Of Enviornmental Studies
Public,•K-5•0.6mi
3/10
Wilton Place Elementary School
Public,•K-5•1.0mi
3/10
Los Angeles Elementary School
Public,•K-5•1.2mi
2/10
Twenty-Fourth Street Elementary School
Public,•K-5•1.2mi
3/10
Sixth Avenue Elementary School
Public,•K-5•1.4mi
3/10
Johnnie Cochran, Jr., Middle School
Public,•6-8•0.3mi
5/10
Pio Pico Middle School
Public,•6-8•0.5mi
7/10
John Burroughs Middle School
Public,•6-8•1.3mi
4/10
Los Angeles Senior High School
Public,•9-12•0.8mi
2/10
Susan Miller Dorsey Senior High School
Public,•9-12•2.0mi
4/10
West Adams Preparatory High School
Public,•9-12•2.1mi
Condition Rating
Fair
The property, built in 1913, is over a century old. While the listing states it is 'move in ready as-is,' implying functionality, the images reveal a significantly dated interior. The kitchen features older wooden cabinets, laminate countertops, and white appliances that are not modern. The bathroom is also very basic with an older vanity, standard tub/shower, and dated finishes. Flooring consists of worn carpets and older tiles. Light fixtures are simple and outdated, and a wall heater suggests a lack of central HVAC. The overall condition indicates that while the home is maintained and livable, it has not undergone major renovations in many decades, likely 20-30 years ago for some cosmetic updates, and shows considerable physical depreciation and outdated styles. It requires substantial cosmetic updates and system modernizations to meet current standards.
Pros & Cons
Pros
Development Potential: The property is situated on a 6,738 sq ft lot with RD2-1-O-CPIO zoning, allowing for the construction of 4 to 6 units, presenting a significant opportunity for developers.
Prime Location: Located in 'prime mid-city Los Angeles' within a 'great neighborhood with quiet streets,' offering desirable urban living.
Investment Opportunity: Explicitly marketed as a 'wealth-building opportunity' for both developers and homebuyers, highlighting its potential for significant value increase.
Move-in Ready Condition: The existing 2-bedroom home is described as 'move in ready as-is,' providing immediate occupancy for a homebuyer.
Desirable View: The property offers a 'City Lights' view, enhancing its aesthetic appeal and market value.
Cons
Advanced Age of Structure: Built in 1913, the existing home is over a century old, which may necessitate significant renovations, updates to systems, or ongoing maintenance.
Limited Existing Living Space: The current configuration of 2 bedrooms and 1 bathroom with 1050 sqft is relatively small, potentially limiting its appeal to buyers seeking more space or modern layouts without extensive remodeling.
Significant Capital Required for Full Potential: While offering 'limitless' potential, realizing the property's maximum value through redevelopment (e.g., building multiple units) will require substantial capital investment and project management.