
Los Angeles, California 90031
This property presents a Strong Value Opportunity with a List Price of $899,888—positioned well below the $962,815 Fair Market Value by 6%. This valuation gap offers $62,927 in Instant Equity for buyers. Featuring a Fair Condition Rating and LARD3 Zoning, the 11,061 sqft lot provides significant development potential for additional units. Located near the Keck School of Medicine, this asset is a high-demand location for Buy-and-Hold Investors or Developers seeking to capitalize on infill growth.
Property is extensive renovation needed.
The property was built in 1957 (>60 years old) with no evidence of significant renovations. The kitchen is severely dated with missing appliances and worn flooring, and the use of window AC units indicates a lack of modern central HVAC systems. The listing's heavy emphasis on 'development potential' and 'LARD3 zoning' confirms the structure requires a full rehab.
The property features a massive 11,061 sqft lot with LARD3 zoning, providing a rare and lucrative opportunity for developers to construct additional units in a high-demand Los Angeles infill location.
Located just minutes from the Keck School of Medicine and LAC+USC Medical Center, this home is perfectly positioned for healthcare professionals, students, or investors looking for high rental demand.
With 1,708 square feet of living space including a dedicated office and a flexible den, the floor plan offers the adaptability required for modern work-from-home lifestyles or multi-generational living.
Built in 1957, the property likely requires significant capital improvements to its core systems and interior finishes to meet modern energy efficiency and aesthetic standards.
Proximity to major medical centers and the convergence of the 5, 10, 101, and 110 freeways may result in increased ambient noise and local traffic congestion for residents.
Welcome to 2020 Thomas Street, Los Angeles, CA 90031—a rare opportunity in the heart of historic Lincoln Heights, where charm, convenience, and exceptional development potential come together. This spacious home offers 1,708 square feet of living space and is physically configured as a 3-bedroom, 2-bathroom residence, complete with a dedicated office and a versatile den that can easily serve as a family room, media room, playroom, home gym, or additional workspace. The flexible floor plan provides ample room to accommodate today's evolving lifestyle needs. The property is zoned LARD3, offering incredible potential for future development. Buyers are encouraged to investigate the possibility of constructing additional units, making this an ideal investment for developers, builders, or anyone looking to capitalize on one of Los Angeles' high-demand infill locations. (Buyer to verify all development possibilities, zoning regulations, and requirements with the appropriate governmental agencies.) Perfectly positioned just a short walk from Lincoln Park, you'll enjoy access to one of the area's premier recreational destinations featuring a scenic lake, skatepark, tennis courts, recreation center, playgrounds, picnic areas, and a public swimming pool with community programs and lessons. The location is second to none—only minutes from the Keck School of Medicine of USC, Keck Hospital of USC, and LAC+USC Medical Center, making it an exceptional option for healthcare professionals, students, and those seeking proximity to world-class medical facilities. Commuters will appreciate the property's central location with quick access to Downtown Los Angeles, Chinatown, Highland Park, Pasadena, and major freeways, including the 5, 10, 101, and 110. Nearby, you'll find an abundance of restaurants, shopping, entertainment, schools, and public transportation, making daily life both convenient and connected. Whether you're looking for a place to call home, a long-term investment, or a property with tremendous redevelopment potential, 2020 Thomas Street offers a unique combination of location, lot size, and opportunity that is becoming increasingly difficult to find in Los Angeles. Don't miss your chance to own a property with endless possibilities in one of LA's fastest-growing neighborhoods.
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades K-5 • 0.4 mi
Grades K-5 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,708 | 1,672 |
| Lot Size | 11,061 | 6,067 |
| Price | $899.9K | $1.37M |
| Price per sq ft | $527 | $801 |
| Built year | 1957 | 1939 |
| HOA | $0 | $348 |
| Days on market | 6 | 56 |
Jul 16, 2026
$899,888
Initial Listing