1959 Firestone, Los Angeles, California 90001, Los Angeles, 90001 - bed, bath
ACTIVE UNDER CONTRACT$1,045,000
1959 Firestone, Los Angeles, California 90001
0Bed
0Bath
1,634Sqft
6,079Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Prime Development Potential: The property boasts LCC3 high-density zoning, High TOC Tier eligibility, and inclusion in the Florence-Firestone Transit Oriented District (FFTOD) Specific Plan, offering expanded development capacity and incentives for various projects.
Top Cons:
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 1634, other record living area = 1274.
Compared to the nearby listings
Price:$1.04M vs avg $714.0K (+$331,000)93%
Size:1,634 sqft vs avg 1,323 sqft79%
Price/sqft:$640 vs avg $50171%
More Insights
Built in 1946 (79 years old).
Condition: Built in 1946, the existing structures are over 75 years old. The listing explicitly highlights the property as a 'development opportunity' with its value primarily in the land and zoning, and the property analysis notes the 'Age of Existing Structures' may necessitate 'significant renovation or demolition costs.' While currently rented, the structures are clearly outdated and not up to modern standards, with no indication of major renovations in the past 50 years. The images provided show utilitarian commercial structures, not well-maintained residential interiors, reinforcing the assessment that the existing buildings are at the end of their useful life for their current purpose and the property's highest and best use involves redevelopment.
Year Built
1946
Close
-
List price
$1.04M
Original List price
$1.04M
Price/Sqft
$640
HOA
-
Days on market
-
Sold On
-
MLS number
DW25261032
Home ConditionTear down
Features
View-
About this home
PRIME MIXED-USE INVESTMENT & DEVELOPMENT OPPORTUNITY 1959 Firestone Blvd is a high-visibility corner property featuring LCC3 high-density zoning, High TOC Tier eligibility, and inclusion in the Florence-Firestone Transit Oriented District (FFTOD) Specific Plan. Located just steps from the Metro A Line Firestone Station, this site is positioned within a rapidly improving transit corridor targeted for walkable, mixed-use growth by Los Angeles County. The property consists of an established commercial space (rented) plus two(rented) residential units, offering immediate income potential or a clear value-add opportunity. The FFTOD plan provides expanded development capacity, streamlined process, and incentives for housing production—making this an exceptional option for affordable housing, urban infill, or mixed-use redevelopment. A strong opportunity for investors, developers, or mission-driven builders seeking a transit-rich Los Angeles location with significant long-term upside.
Price History
Date
Event
Price
11/08/94
Sold
$306,818
10/20/94
Sold
$125,000
12/01/23
Sold
$700,000
Condition Rating
Tear down
Built in 1946, the existing structures are over 75 years old. The listing explicitly highlights the property as a 'development opportunity' with its value primarily in the land and zoning, and the property analysis notes the 'Age of Existing Structures' may necessitate 'significant renovation or demolition costs.' While currently rented, the structures are clearly outdated and not up to modern standards, with no indication of major renovations in the past 50 years. The images provided show utilitarian commercial structures, not well-maintained residential interiors, reinforcing the assessment that the existing buildings are at the end of their useful life for their current purpose and the property's highest and best use involves redevelopment.
Pros & Cons
Pros
Prime Development Potential: The property boasts LCC3 high-density zoning, High TOC Tier eligibility, and inclusion in the Florence-Firestone Transit Oriented District (FFTOD) Specific Plan, offering expanded development capacity and incentives for various projects.
Strategic Transit-Oriented Location: Located just steps from the Metro A Line Firestone Station within a rapidly improving transit corridor, enhancing accessibility and future growth prospects for walkable, mixed-use development.
Immediate Income Generation: Features an established rented commercial space and two rented residential units, providing immediate income potential while development plans are being formulated.
High Visibility Corner Lot: As a high-visibility corner property, it offers excellent exposure and accessibility, which is highly desirable for commercial and mixed-use developments.
Significant Long-Term Upside: Positioned for substantial long-term appreciation and value creation, especially for investors and developers seeking urban infill or mixed-use redevelopment opportunities in a transit-rich Los Angeles location.
Cons
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 1634, other record living area = 1274.
Age of Existing Structures: Built in 1946, the current structures are old, which may necessitate significant renovation or demolition costs to align with modern development standards and maximize the property's potential.
Substantial Capital Investment Required: Realizing the full potential of this development opportunity will require significant capital investment for planning, demolition (if applicable), and new construction, which may be a barrier for some investors.
Complexity of Development Regulations: While offering incentives, developing within a specific plan (FFTOD) and high-density zoning (LCC3) can involve navigating complex regulatory processes, design reviews, and potential community engagement, adding to project complexity and timeline.