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2357 N Indiana Avenue, Los Angeles, California 90032, Los Angeles, 90032 - 3 bed, 1 bath

2357 N Indiana Avenue, Los Angeles, California 90032 home-pic-0
ACTIVE UNDER CONTRACT$1,400,000
2357 N Indiana Avenue, Los Angeles, California 90032
3Beds
1Bath
1,048Sqft
51,689Lot
Year Built
1951
Close
-
List price
$1.4M
Original List price
$1.4M
Price/Sqft
$1,336
HOA
-
Days on market
-
Sold On
-
MLS number
17202694
Home ConditionTear down
Features
Excellent View: City Lights
ViewCity Lights

About this home

We found 3 Cons,6 Pros. Rank: price - $1.40M(94th), sqft - 1048(30th), beds - 3(50th), baths - 1(38th).

We are pleased offer a property with 4.49 acres of land in El Sereno adjacent to Ascot Hills Park. This portfolio features three adjacent parcels, two are vacant land and a house is situated in the third. The property has views of Downtown Los Angeles and the ocean. You can watch the sunset from these parcels of land and create something. El Sereno currently has a number of new SLO projects, in process or fully entitled. Nearby there is a 36 home small lot subdivision that is now fully entitled, on the other side of Ascot Park there is a second Small Lot subdivision on Eastern that is in process. Buyer would need to confirm and complete their own due diligence.

Price History

Date
Event
Price
10/24/00
Sold
$170,000
Condition Rating
Tear down
The property was built in 1951 (73 years ago) and shows no evidence of major renovations in the past 50 years. The exterior is severely dated, neglected, and cluttered, indicating significant deferred maintenance. The listing description and property analysis explicitly suggest the existing house 'may require extensive renovations or could be considered a tear-down,' with the primary value being in the land's development potential. Without interior photos, it's highly probable the kitchen and bathroom are original or very old and in unlivable condition.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 51689, living area = 1048.
Significant Land Portfolio: The property comprises 4.49 acres across three adjacent parcels, with two being vacant land, offering substantial space for development or expansion in a desirable Los Angeles location.
Development Potential: Located in El Sereno, an area with ongoing and entitled Small Lot Ordinance (SLO) projects, this property presents significant development opportunities, especially with its multiple parcels.
Panoramic Views: The property boasts desirable views of Downtown Los Angeles and the ocean, providing stunning sunset vistas that enhance its aesthetic appeal and potential value.
Prime Location Adjacent to Park: Its adjacency to Ascot Hills Park offers direct access to green space, recreational activities, and potentially protected natural surroundings, adding to its lifestyle appeal.
Existing Residence: An existing 3-bed, 1-bath house provides immediate occupancy or potential rental income, offering flexibility while future development plans for the vacant parcels are pursued.

Cons

Extensive Due Diligence Required: The description explicitly states that buyers must complete their own due diligence, indicating that the significant development potential is not fully entitled and requires substantial investment in time and resources for permits and feasibility studies.
Age and Condition of Existing House: Built in 1951, the 1048 sqft residence is likely dated and may require extensive renovations or could be considered a tear-down, adding considerable cost to any development or modernization plans.
Lot Size Discrepancy: There is a significant discrepancy between the stated '4.49 acres' in the description and the 'lot_size' field (51689 sqft, approximately 1.18 acres), which requires immediate clarification and could impact development feasibility and perceived value.

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