2221 Elsinore, Los Angeles, California 90026, Los Angeles, 90026 - 5 bed, 3 bath
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2221 Elsinore
Los Angeles, California 90026
ACTIVE
CONDITION: TEAR DOWN
5Beds
3Baths
1,688Sq Ft
7,499Lot Size
Property Price
LIST PRICE$1,170,000
EST. MARKET VALUE
$1,078,335
8% AboveMARKET VALUE
SUMMARY
This property presents a Strong Value Opportunity with a List Price of $1,170,000—positioned above the $1,078,335 Fair Market Value. As a vacant triplex with RD2-1VL zoning, this asset offers significant redevelopment potential on a 7,499 SF lot. With a Condition Rating of 6, the structure requires modernization, yet the ability to lease at market rates while exploring California Density Bonus incentives provides a clear path to forced appreciation. This is a strategic acquisition ideal for Multifamily Developers or Buy-and-Hold Investors seeking long-term growth in the Echo Park market.
Estimated Market Value
$1,078,335
Based on Realkey algorithm analyzing recent comparable sales in Los Angeles.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2221 Elsinore Subject 5 bd · 3 ba · 1,688 sqft · $639 | $1,170,000* List Price | 5 | 3 | 1,688 | $639 | - |
A 1420 Glendale Active 0 bd · 0 ba · 1,527 sqft · $557 · 0.3 mi | $850,000 List Price | 0 | 0 | 1,527 | $557 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Tear down
TeardownExcellent
Property is land value only, full reconstruction required.
Built in 1956 (70 years old) and offered for the first time in 40 years, indicating no recent renovations. The listing explicitly focuses on redevelopment potential, land value, and density bonuses, suggesting the existing structures are likely at the end of their functional life.
PROSSTRENGTHS & OPPORTUNITIES
- Significant Development Potential
The RD2-1VL zoning on a flat lot, combined with the option to acquire the adjacent parcel for a total of nearly 15,000 SF, offers a rare multifamily redevelopment opportunity utilizing California Density Bonus laws.
- Prime Silver Lake/Echo Park Location
Situated in one of Los Angeles' most desirable rental markets, the property benefits from high demand, strong appreciation potential, and proximity to trendy local amenities.
- Immediate Value-Add Opportunity
Delivered vacant for the first time in 40 years, the property allows for immediate renovation and leasing at current market rates without the complications of existing tenant relocations.
CONSRISKS & DEFICIENCIES
- Substantial Renovation Needed
Given the 40-year ownership history and 'opportunity to renovate' status, the property likely requires significant capital expenditure to modernize systems and finishes to reach peak market value.
- Regulatory Complexity
Maximizing the site's density requires navigating complex City of Los Angeles zoning, affordable housing replacement requirements, and AB 1287 incentives, which may increase pre-development costs and timelines.
About 2221 Elsinore
Available for the first time in nearly 40 years! 2221 Elsinore is a vacant triplex featuring two 2-bed/1-bath units in the front structure and a detached studio in the rear. Situated on a flat lot, the property offers an excellent opportunity to renovate the existing units and lease at market rent while exploring additional development potential. Seller also owns adjoining 2217 Elsinore and will consider selling the properties separately or together. Combined, the two contiguous RD2-1VL parcels total approximately 14,994 SF, offering compelling multifamily redevelopment potential, including possible additional density under California State Density Bonus Law/AB 1287. Buyer to independently investigate and verify zoning, density, affordable/replacement-unit requirements, ADU potential, incentives, waivers, and all development possibilities with the City of Los Angeles.
Property Details
Public Facts
- Property Type
- Triplex
- Year Built
- 1956
- Lot Size
- 7,499 Sq. Ft.
Interior
- Total Bedrooms
- 5
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Los Angeles Unified Schools
Mayberry Street Elementary School
Grades K-6 • 0.4 mi
2/10
Rosemont Avenue Elementary School
Grades K-5 • 0.6 mi
5/10
Clifford Street Elementary School
Grades K-6 • 0.8 mi
8/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 5.0 | 4.5 |
| Baths | 3.0 | 2.9 |
| Square foot | 1,688 | 2,090.331 |
| Lot Size | 7,499 | 5,852.908 |
| Price | $1.17M | $830.9K |
| Price per sq ft | $693 | $394 |
| Built year | 1956 | 1928 |
| HOA | $0 | $0 |
| Days on market | 39 | 87 |
Pricing History
Listed for Sale
Oct 1, 2026
$1,170,000
Initial Listing