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1508 Arapahoe Street, Los Angeles, California 90006, Los Angeles, 90006 - 4 bed, 2 bath

1508 Arapahoe Street, Los Angeles, California 90006 home-pic-0
ACTIVE$925,000
1508 Arapahoe Street, Los Angeles, California 90006
4Beds
2Baths
1,716Sqft
6,354Lot
Year Built
1905
Close
-
List price
$925K
Original List price
$1.09M
Price/Sqft
$539
HOA
-
Days on market
-
Sold On
-
MLS number
PW25009715
Home ConditionPoor
Features
View-

About this home

Possibly Over-Priced:The estimated price is 4% below the list price. We found 2 Cons,3 Pros. Rank: price - $925.0K(60th), sqft - 1716(50th), beds - 4(50th), baths - 2(50th).

Price Reduction! Welcome to 1508 Arapahoe St, a rare investment opportunity located in the heart of Los Angeles! This charming single-family residence is nestled in a highly desirable area with LARD1.5 zoning, making it a prime candidate for redevelopment or expansion. The property sits on a generous 6,351 sq ft lot, offering ample potential for creative investors or developers looking to maximize the land's high-density bonus building codes. The home features a functional layout, with 4 bedrooms and 2 bathrooms, and a cozy living space ideal for first-time homebuyers or those seeking an income-generating rental property. The large lot provides endless opportunities, whether you're envisioning a garden oasis, additional units, or a complete redevelopment. Ideal for property for an ADU and Mini-ADU. Conveniently located near shopping, dining, and entertainment options, this property is just minutes away from Downtown Los Angeles, Koreatown, and major freeways (110, 101 & 10), ensuring easy access to everything the city has to offer.

Nearby schools

3/10
Magnolia Avenue Elementary School
Public,•K-6•0.2mi
3/10
Leo Politi Elementary School
Public,•K-5•0.4mi
2/10
Tenth Street Elementary School
Public,•K-5•0.7mi
4/10
Norwood Street Elementary School
Public,•K-5•0.8mi
8/10
Hoover Street Elementary School
Public,•K-5•0.8mi
3/10
Macarthur Park Elementary School For The Visual And Performing Arts
Public,•K-5•0.9mi
/10
Mariposa-Nabi Primary Center
Public,•K-2•1.0mi
5/10
Vermont Avenue Elementary School
Public,•K-5•1.1mi
3/10
Rfk Community Schools - Ambassador School - Global Education
Public,•K-5•1.1mi
3/10
Los Angeles Elementary School
Public,•K-5•1.2mi
3/10
Hobart Boulevard Elementary School
Public,•K-5•1.3mi
2/10
Twenty-Fourth Street Elementary School
Public,•K-5•1.6mi
6/10
Carson-Gore Academy Of Enviornmental Studies
Public,•K-5•2.0mi
3/10
Berendo Middle School
Public,•6-8•0.6mi
3/10
John H. Liechty Middle School
Public,•6-8•1.1mi
4/10
John Adams Middle School
Public,•6-8•1.7mi
5/10
Pio Pico Middle School
Public,•6-8•1.9mi
3/10
Johnnie Cochran, Jr., Middle School
Public,•6-8•2.4mi
4/10
West Adams Preparatory High School
Public,•9-12•0.4mi
3/10
Rfk Community Schools-Ambassador-Global Leadership
Public,•6-12•1.2mi
4/10
Rfk Community Schools-Los Angeles High School Of The Arts
Public,•9-12•1.2mi
5/10
Rfk Community Schools- For The Visual Arts And Humanities
Public,•9-12•1.2mi
3/10
Belmont Senior High School
Public,•9-12•1.7mi
5/10
Santee Education Complex
Public,•9-12•1.7mi
5/10
Foshay Learning Center
Public,•K-12•2.2mi
3/10
Nava College Preparatory Academy
Public,•9-12•3.1mi
Condition Rating
Poor
The property was built in 1905 and the images show outdated interiors. The kitchen and bathrooms likely require substantial updates. While functional, the property is far from move-in ready and needs significant repairs and rehabilitation to meet modern standards. The description suggests it's more of an investment opportunity for redevelopment or expansion rather than a comfortable living space in its current condition.
Pros & Cons

Pros

Development Potential: LARD1.5 zoning and a large 6,351 sq ft lot offer significant redevelopment or expansion opportunities, appealing to investors and developers.
Prime Location: Located in the heart of Los Angeles, with easy access to Downtown LA, Koreatown, and major freeways (110, 101 & 10), providing convenient access to amenities and employment centers.
Income Potential: The existing 4-bedroom, 2-bathroom home is suitable for rental income, making it attractive to first-time homebuyers or investors seeking a revenue-generating property. ADU and Mini-ADU potential.

Cons

Age of Property: Built in 1905, the property may require updates and maintenance to meet modern standards and address potential structural issues.
Price Reduction: The recent price reduction may indicate underlying issues or market challenges that could affect the property's perceived value.

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