
Los Angeles, California 90006
This property presents a High-Potential Investment Opportunity with a List Price of $830,000—positioned well above the $778,814 Fair Market Value by -6%. Featuring a 5-unit configuration on a 6,251 sqft lot, this historically preserved asset requires significant rehabilitation due to its Condition Rating of 5. Located near major employment hubs like LA LIVE, this project is ideal for Buy-and-Hold Investors or experienced developers capable of navigating the legal complexities of the unpermitted unit and maximizing long-term rental yields.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1835 W 12th Subject 0 bd · 0 ba · 3,120 sqft · $250 | $830,000* List Price | 0 | 0 | 3,120 | $250 | - |
A 1153 S Westlake Active 0 bd · 0 ba · 2,654 sqft · $264 · 0.1 mi | $699,900 List Price | 0 | 0 | 2,654 | $264 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1908 with no record of recent renovations; the property is offered 'As Is' and 'Drive-by only,' indicating significant deferred maintenance, likely outdated systems (window AC units visible), and unpermitted units requiring major rehabilitation.
Situated minutes from Downtown Los Angeles, LA LIVE, and major freeways, the property offers exceptional access to high-demand employment and entertainment hubs.
The current five-unit configuration provides a significant opportunity for investors to legalize the unpermitted unit and renovate to capture market-rate rents in a rapidly evolving area.
Identified as a historically preserved building in the Pico-Union area, the property offers unique character and scale that can enhance long-term asset value.
The discrepancy between the four permitted units in public records and the five existing units, combined with an 'As Is' sale, presents significant compliance and financing challenges.
The 'Drive-by only' requirement and the fact that tenants are unaware of the sale limit a buyer's ability to conduct a thorough physical assessment of the interior condition.
Prime Investment Opportunity Near Downtown Los Angeles Located just minutes from Downtown Los Angeles, this multifamily property presents an exciting opportunity for investors seeking value in the heart of one of LA’s most dynamic and rapidly evolving urban markets. Public records reflect four (4) units, while the existing building is currently configured as five (5) units, according to the seller. The current configuration is reported to include four (4) 1-bedroom/1-bath units and one unpermitted (1) 1-bedroom/1-bath unit, rent is $807.23. The property is identified by the Assessor as a historically preserved building within the Pico-Union area and is being offered “As Is.” With its central location and proximity to major employment, entertainment, transportation, and redevelopment activity, this property offers tremendous potential for a savvy investor looking to capitalize on the continued growth and expansion of Downtown Los Angeles. Conveniently located near LA LIVE, Crypto.com Arena (formerly Staples Center), Downtown LA, public transportation, restaurants, and the 110 and 10 freeways, providing excellent access throughout Los Angeles. Drive-by only. Please do not disturb the tenants, as they are not aware that the property is currently being offered for sale. Buyer to independently verify all information with the City of Los Angeles, including the total number of legally permitted units, building square footage, zoning, permits, and other property-related information. Buyer and buyer’s agents are advised to conduct their own due diligence and satisfy themselves regarding the property’s current use and legal status.
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades K-5 • 0.5 mi
Grades K-6 • 0.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.5 |
| Baths | 0.0 | 2.9 |
| Square foot | 3,120 | 2,090.331 |
| Lot Size | 6,251 | 5,852.908 |
| Price | $830.0K | $830.9K |
| Price per sq ft | $266 | $394 |
| Built year | 1908 | 1928 |
| HOA | $0 | $0 |
| Days on market | 56 | 87 |
Sep 14, 2026
$830,000
Initial Listing