
Los Angeles, California 90016
This property presents a High-Potential Investment Opportunity with a List Price of $899,000—positioned well above the $766,844 Fair Market Value by 17%. While the current pricing reflects a premium, the two-on-one configuration provides immediate rental income, and the 4,846-square-foot parcel offers significant redevelopment potential in a trending Mid-Los Angeles infill market. With a Condition Rating of 5, the existing structures are best suited for those planning ground-up development. This is a strategic acquisition ideal for Developers or Contractors seeking to capitalize on high-density residential demand.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2213 S Spaulding Subject 3 bd · 2 ba · 1,384 sqft · $554 | $899,000* List Price | 3 | 2 | 1,384 | $554 | - |
A 2112 S Burnside Avenue Sold 0 bd · 0 ba · 1,398 sqft · $494 · 0.5 mi | $690,000 | 0 | 0 | 1,398 | $494 | 0.5 mi |
B 5441 Smiley Drive Active 0 bd · 0 ba · 1,370 sqft · $627 · 0.7 mi | $859,000 List Price | 0 | 0 | 1,370 | $627 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1947 (77 years old), the property is explicitly marketed as a 'value-add' development opportunity for builders and contractors. While the interior shows a recent cosmetic refresh with new counters and paint, the exterior displays significant wear, cracked hardscape, and the listing's focus on 'ground-up development' suggests the primary systems and structures are nearing the end of their functional life.
The 4,846-square-foot parcel is located in a trending redevelopment zone where nearby properties are being converted into high-density three- and four-unit residential projects.
The 'two-on-one' configuration featuring a 2-bedroom front house and a 1-bedroom rear unit allows for immediate cash flow while the owner explores future development or renovation plans.
Situated in the sought-after Mid-Los Angeles area, the property offers excellent proximity to major employment centers, transportation corridors, and evolving retail hubs.
With 126 days on the market, the property may be facing buyer hesitation regarding its current list price or the complexity of the required value-add work.
Built in 1947, the existing structures likely require significant capital expenditure for modernization or full demolition to achieve the site's highest and best use.
Builders, Developers, and Contractors – Exceptional Value-Add Opportunity! Prime opportunity to acquire an under-market 4,846-square-foot buildable parcel in the next upward-trending sought-after Mid-Los Angeles area, surrounded by ongoing redevelopment and new construction. This property offers tremendous upside potential for investors, builders, and developers seeking their next project in a rapidly evolving neighborhood. The site is currently a two-on-one property: a front 2-bedroom, 1-bath single-family residence and a detached rear 1-bedroom, 1-bath single-family residence. It offers immediate rental income while development plans are explored. Nearby properties have recently completed or are currently constructing three- and four-unit residential developments, illustrating strong demand and a redevelopment trend throughout the area. Additional features include a long private driveway leading to a detached two-car garage, a separate storage room, ample on-site parking, and a lot configuration that may lend itself to a variety of future development possibilities (buyer to verify all zoning, density, and development potential with the appropriate agencies). Whether you're looking to renovate, expand, hold for income, or pursue a ground-up development project, this property presents a rare opportunity to capitalize on one of Los Angeles' most active infill markets. Conveniently located near major transportation corridors, employment centers, shopping, dining, and entertainment. Bring your vision and unlock the full potential of this outstanding investment opportunity.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 4.5 |
| Baths | 2.0 | 2.9 |
| Square foot | 1,384 | 2,090.331 |
| Lot Size | 4,846 | 5,852.908 |
| Price | $899.0K | $830.9K |
| Price per sq ft | $650 | $394 |
| Built year | 1947 | 1928 |
| HOA | $0 | $0 |
| Days on market | 143 | 87 |
Jun 19, 2026
$899,000
Initial Listing