
Los Angeles, California 90004
This property presents a Strong Value Opportunity with a List Price of $1,399,000—positioned well below the $1,500,310 Fair Market Value by 6%. This valuation gap offers $101,310 in Instant Equity. Featuring a Condition Rating of 4, the 1921 structure offers significant redevelopment potential, including prior plans for a 19-unit multifamily complex on its 7,502 sq. ft. lot. This is a high-reward acquisition ideal for Multifamily Developers or Buy-and-Hold Investors seeking long-term growth in a central Los Angeles location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 210 N Berendo Street Subject 3 bd · 2 ba · 1,635 sqft · $918 | $1,399,000* List Price | 3 | 2 | 1,635 | $918 | - |
A 178 N Mariposa Avenue Active 3 bd · 2 ba · 1,608 sqft · $746 · 0.3 mi | $1,200,000 List Price | 3 | 2 | 1,608 | $746 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
While the interior shows a recent cosmetic refresh with new laminate flooring and paint (likely <5 years), the 1921 structure remains dated. The kitchen features basic, budget-grade cabinetry and older white appliances. The presence of an unpermitted garage conversion and the listing's heavy emphasis on multifamily redevelopment potential suggest that the core systems and structural value are secondary to the land value.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7502, living area = 1635.
The property features prior architectural plans for a 19-unit multifamily development, offering significant upside for investors looking to capitalize on high-density zoning in a central location.
At approximately 7,502 square feet, the lot is substantially larger than many in the area, providing a versatile canvas for either a large-scale redevelopment or a significant residential expansion.
The detached garage conversion into a 1-bedroom unit was completed without permits, which may create financing hurdles and requires the buyer to assume legal and safety compliance risks.
Built in 1921, the existing 100-plus-year-old residence likely requires significant capital expenditure for modernization and infrastructure updates if not being fully redeveloped.
Discover an exceptional opportunity in a centrally located Los Angeles neighborhood. Situated on an approximately 7,500-square-foot lot, this 3-bedroom, 2-bathroom single-family residence offers the flexibility to enjoy the property as an existing home while exploring its future potential. The property also features a detached garage that has been converted into a separate 1-bedroom, 1-bathroom living area without permits, providing additional space with a configuration and legal status to be independently evaluated by the buyer. For investors and developers, prior architectural plans are available depicting a proposed six-story, 19-unit multifamily development consisting of 17 residential units plus 2 ADUs. These plans offer a starting point for evaluating possible redevelopment opportunities, subject to current zoning regulations, development standards, applicable incentives, and City approvals. Whether you are looking for a home with a generously sized lot or an investment property with long-term possibilities, this property presents an opportunity to explore multiple paths. Buyer to independently verify all property information, permits, square footage, zoning, development potential, and feasibility. The garage conversion is unpermitted. Prior development plans are not represented as approved or entitled.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,635 | 1,670.836 |
| Lot Size | 7,502 | 6,152.156 |
| Price | $1.40M | $1.34M |
| Price per sq ft | $856 | $807 |
| Built year | 1921 | 1941 |
| HOA | $0 | $238 |
| Days on market | 24 | 56 |
Oct 16, 2026
$1,399,000
Initial Listing
May 18, 2022
$1,390,000
Public Record
Aug 12, 2002
$357,000
Public Record