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1827 E 66th Street, Los Angeles, California 90001, Los Angeles, 90001 - 1 bed, 1 bath

1827 E 66th Street, Los Angeles, California 90001 home-pic-0
ACTIVE$1,075,000
1827 E 66th Street, Los Angeles, California 90001
1Bed
1Bath
Sqft
12,064Lot
Year Built
1921
Close
-
List price
$1.07M
Original List price
$1.5M
Price/Sqft
$0
HOA
-
Days on market
-
Sold On
-
MLS number
P1-18093
Home ConditionTear down
Features
Good View: None
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.07M(93th), sqft - 0(7th), beds - 1(57th), baths - 1(57th).

Discover a prime investment opportunity in the heart of Los Angeles! 1819 & 1827 E 66Th Street (see below for APN #'s included in the sale) This distinctive property, zoned RLM2 (buyer to verify), encompasses four contiguous lots being sold together for land value only. Spanning over 12,000 square feet, this expansive canvas invites your creative vision. Whether you're considering a residential development or exploring other possibilities, the potential is immense.While the property includes existing structures, they may not be salvageable, reinforcing its sale as land value. This is your chance to reimagine the space entirely. Offered in 'as-is' condition, this property is a rare find in a highly sought-after location. Seize the opportunity to make your mark in one of LA's growing areas! These are the APN's included in the sale: 6009-021-031, 6009-021-032, & 6009-021-043.

Condition Rating
Tear down
The property was built in 1921, making it over 100 years old. The listing explicitly states that the existing structures 'may not be salvageable' and the property is being sold for 'land value only' in 'as-is' condition. The aerial images further support this, showing multiple structures in severe disrepair, with tarps covering roofs and general neglect. There are no interior images to assess kitchen or bathroom conditions, but the overall description and exterior views strongly suggest the structures are unlivable and beyond repair, aligning perfectly with the 'tear-down' criteria.
Pros & Cons

Pros

Significant Development Potential: The property is explicitly marketed as a 'prime investment opportunity' for 'land value only' with RLM2 zoning, indicating strong potential for residential or mixed-use development.
Expansive Lot Size: Spanning over 12,000 square feet across four contiguous lots, this offers a substantial canvas for a large-scale development project.
Strategic Los Angeles Location: Situated in a 'highly sought-after location' and 'one of LA's growing areas' (Metropolitan South), enhancing future property value and demand for new developments.
Multiple Contiguous Parcels: The sale includes four adjacent APNs, providing a unified and larger footprint ideal for comprehensive development planning without the complexities of acquiring separate parcels.
Recent Price Reduction: The list price has been reduced from $1,499,000 to $1,075,000, potentially offering a more attractive entry point for investors and developers.

Cons

Unsalvageable Existing Structures: The current structures are likely unsalvageable, necessitating demolition and clearing costs before any new development can commence, adding to initial project expenses.
As-Is Condition Sale: The property is offered in 'as-is' condition, transferring all responsibility for potential unknown issues, repairs, or environmental assessments directly to the buyer.
Buyer to Verify Zoning: While RLM2 zoning is mentioned, the buyer is required to verify it, which introduces a due diligence burden and potential for unexpected limitations or costs related to development plans.

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