230 N Park View Street, Los Angeles, California 90026, Los Angeles, 90026 - 2 bed, 1 bath
ACTIVE$1,249,000
230 N Park View Street, Los Angeles, California 90026
2Beds
1Bath
1,032Sqft
7,989Lot
Price Vs. Estimate
The estimated value ($1,067,108.335) is $181,891.665 (14%) lower than the list price ($1,249,000). This property may be overpriced.
Key pros and cons
Top Pros:
Development Opportunity & Zoning: Zoned LARD2-1, this property offers a rare and prime opportunity for multifamily development in a rapidly evolving area with established precedents for similar conversions.
Top Cons:
Existing Structure Condition: The 1920-built, 1032 sqft single-family residence is likely a tear-down or requires extensive renovation, adding considerable cost to any development project.
Compared to the nearby listings
Price:$1.25M vs avg $1.53M ($-283,500)29%
Size:1,032 sqft vs avg 1,590 sqft20%
Price/sqft:$1.2K vs avg $99284%
More Insights
Built in 1920 (105 years old).
Condition: The property was built in 1920, making it over 100 years old. The MLS description explicitly markets it as a 'rare development opportunity' for multifamily construction, focusing entirely on the land's potential and location, rather than the existing structure. The complete absence of interior photos, combined with the age and the development-focused listing, strongly suggests the current structure is unlivable or beyond repair and its value is solely in the land for redevelopment.
Year Built
1920
Close
-
List price
$1.25M
Original List price
$1.25M
Price/Sqft
$1,210
HOA
-
Days on market
-
Sold On
-
MLS number
25594105
Home ConditionTear down
Features
Good View: City Lights
Patio
ViewCity Lights
About this home
Rare development opportunity in the heart of Historic Filipinotown. Just south of the 101 and sharing a coveted zip code with Echo Park and Silver Lake, Historic Filipinotown (Hi-Fi) has been a cultural touchstone of Los Angeles since long before its official designation in 2002. This vibrant, tightly knit community offers a strong rental market, rich heritage, and unbeatable access to Downtown LA, making it a prime location for multifamily development. Zoned LARD2-1, this property is part of a rapidly evolving area where similar large-lot single family homes are already being converted. Opportunities like this are becoming increasingly rare. Don't miss your chance to invest in one of LA's most dynamic and growing neighborhoods. Please do not walk the property without an appointment; however, please feel free to drive by and dream.
Nearby schools
5/10
Rosemont Avenue Elementary School
Public,•K-5•0.2mi
/10
Lake Street Primary School
Public,•K-1•0.2mi
5/10
Union Avenue Elementary School
Public,•K-5•0.5mi
/10
Lafayette Park Primary Center
Public,•K•0.6mi
5/10
Commonwealth Avenue Elementary School
Public,•K-5•0.8mi
4/10
Betty Plasencia Elementary School
Public,•K-6•0.9mi
3/10
Gratts Learning Academy For Young Scholars (Glays)
Public,•K-6•1.0mi
3/10
Sal Castro Middle School
Public,•6-8•0.8mi
5/10
Virgil Middle School
Public,•6-8•1.1mi
3/10
Belmont Senior High School
Public,•9-12•0.8mi
Price History
Date
Event
Price
11/15/04
Sold
$395,000
Condition Rating
Tear down
The property was built in 1920, making it over 100 years old. The MLS description explicitly markets it as a 'rare development opportunity' for multifamily construction, focusing entirely on the land's potential and location, rather than the existing structure. The complete absence of interior photos, combined with the age and the development-focused listing, strongly suggests the current structure is unlivable or beyond repair and its value is solely in the land for redevelopment.
Pros & Cons
Pros
Development Opportunity & Zoning: Zoned LARD2-1, this property offers a rare and prime opportunity for multifamily development in a rapidly evolving area with established precedents for similar conversions.
Prime Location: Located in the heart of Historic Filipinotown, sharing a coveted zip code with Echo Park and Silver Lake, it benefits from a vibrant community and rich heritage.
Strong Market & Accessibility: The area boasts a strong rental market and provides unbeatable access to Downtown LA, making it highly attractive for future residents and investors.
Generous Lot Size: A substantial 7,989 sqft lot provides ample space for significant multifamily development in a dense urban setting.
Scenic Views: The property offers desirable city lights views, which can enhance the value and marketability of future developed units.
Cons
Existing Structure Condition: The 1920-built, 1032 sqft single-family residence is likely a tear-down or requires extensive renovation, adding considerable cost to any development project.
High Initial Investment: The list price of $1.249 million represents a significant upfront capital investment, primarily for land value and development potential, before construction costs.
Restricted Property Access: The instruction 'Do not walk the property without an appointment' suggests potential challenges or limitations in conducting a thorough initial site assessment.