2254 W 15th, Los Angeles, California 90006, Los Angeles, 90006 - 0 bed, 0 bath
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Los Angeles, California 90006
This 4-Unit Multifamily Asset is listed at $1,100,000, representing a strategic acquisition in the high-demand Pico-Union submarket. The valuation is supported by the property's $1,008,212 Fair Market Value and its significant LAR3 Development Potential. Situated on a 7,488 SF Lot, the property currently holds a Poor Condition Rating, offering a clear Value-Add opportunity for modernization. Located minutes from USC and DTLA, this asset provides strong rental demand and long-term upside, making it an ideal fit for Buy-and-Hold Investors or Developers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2254 W 15th Subject | $1,000,000* List Price | 0 | 0 | 3,164 | $288 | - |
A 1153 S Kenmore Avenue Sold | $1,080,000 | 0 | 0 | 3,564 | $303 | 0.6 mi |
B 1425 S Bonnie Brae Street Active | $788,000 List Price | 0 | 0 | 3,480 | $226 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1921, this 4-unit property shows significant signs of deferred maintenance and aging infrastructure. The kitchens and bathrooms feature dated cabinetry, old-fashioned tiling, and mismatched appliances that require substantial modernization. The listing's emphasis on 'value-add' potential and 'future redevelopment' on an LAR3 lot, coupled with the property analysis noting a need for significant capital expenditures, aligns with the criteria for a poor condition score.
The property features a large 7,488 square foot lot with LAR3 zoning, providing investors with significant value-add opportunities or the potential for high-density future redevelopment.
Situated in the high-demand Pico-Union/Koreatown submarket near DTLA and USC, the location ensures consistently strong rental demand and excellent accessibility for tenants.
As a 4-unit multifamily asset in a supply-constrained market, the property offers immediate cash flow with substantial upside in a neighborhood known for long-term appreciation.
Built in 1921, the property likely requires significant capital expenditures for maintenance, repairs, or modernization of major systems to remain competitive.
The majority of assigned public schools in the immediate area carry low ratings (predominantly 3/10), which may limit the property's appeal to long-term family tenants.
Rare opportunity to acquire a centrally located 4-unit multifamily property in the heart of Los Angeles. Located in the highly desirable Pico-Union / Koreatown submarket, this property offers strong rental demand, excellent accessibility, and significant long-term upside. Built in 1921, the property sits on a large 7,488 square foot LAR3 zoned lot, offering investors potential value-add and future redevelopment opportunities. With limited multifamily inventory available in this high-demand rental market, this property represents an attractive opportunity for investors seeking both current income and long-term appreciation. Conveniently located just minutes from Downtown Los Angeles, Koreatown, and USC, tenants benefit from easy access to major employment centers, public transportation, restaurants, and entertainment. LAR3 Development Opportunity – 7,488 SF Lot in Central Los Angeles”
No exterior & parking available.
Grades K-6 • 0.1 mi
Grades K-5 • 0.4 mi
Grades K-5 • 0.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 3,164 | 3,364 | 50% |
| Lot Size | 7,488 | 6,696.5 | 50% |
| Price | $1.00M | $1.04M | 50% |
| Price per sq ft | $316 | $310 | 50% |
| Built year | 1921 | 1939 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 45 | 174 | 50% |
Apr 1, 2026
$1,000,000
$1,100,000
-9% Price Drop
Initial Listing
Mar 8, 2026
$1,100,000
Initial Listing
Dec 21, 2017
$782,000
Public Record
Aug 24, 2015
$690,000
Public Record
Jan 30, 2012
$350,000
Public Record
Nov 1, 2004
$580,000
Public Record