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2405 Clyde, Los Angeles, California 90016, Los Angeles, 90016 - 3 bed, 2 bath

2405 Clyde, Los Angeles, California 90016 home-pic-0
ACTIVE$998,000
2405 Clyde, Los Angeles, California 90016
3Beds
2Baths
1,508Sqft
4,941Lot

Price Vs. Estimate

The estimated value ($779,259.695) is $218,740.305 (21%) lower than the list price ($998,000). This property may be overpriced.

Key pros and cons

Top Pros:
High Redevelopment Potential: LAR3 zoning allows for significant density expansion, including up to 13 affordable housing units or multiple ADUs, maximizing value for developers and investors.
Top Cons:
MLS Listing Discrepancy: Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 2.

Compared to the nearby listings

Price:$998.0K vs avg $1.05M ($-52,000)36%
Size:1,508 sqft vs avg 1,419.5 sqft57%
Price/sqft:$662 vs avg $78226%

More Insights

Built in 1930 (95 years old).
Condition: Built in 1930, this property is nearly a century old. The listing description heavily emphasizes its 'redevelopment fundamentals,' 'ADU Strategy,' and the option to 'Demolish existing improvements' for new construction, explicitly stating the property's value is in the land and its potential for redevelopment. The property analysis further reinforces this, noting the 'Age and Implied Condition of Existing Structure' and suggesting it's 'primarily valued as a tear-down.' While some interior photos show updated flooring and recessed lighting in the living area, there are no images of the kitchen or bathrooms, which is a significant red flag, indicating these critical areas are likely in very poor, original, or unappealing condition. The overall context points to the existing structure being beyond practical repair or renovation for an end-user, aligning with the 'tear-down' criteria where the structure is beyond repair and value is based solely on the land.
Year Built
1930
Close
-
List price
$998K
Original List price
$998K
Price/Sqft
$662
HOA
-
Days on market
-
Sold On
-
MLS number
PW25275597
Home ConditionTear down
Features
Patio
View-

About this home

Opportunity for End User or Developer | LAR3 Zoning | Mid-City / Culver City Adjacent Acquire a strategically located LAR3-zoned parcel in one of Mid-City’s most in-demand growth corridors, directly adjacent to Culver City and situated at the end of a cul-de-sac, offering both privacy and strong redevelopment fundamentals. The property is conveniently located near Metro stations, dining, shopping, and major freeways. Currently a 3 bedroom and 2 bath home with strong growth and increasing demand, this area offers exceptional long-term appreciation potential. Value-add and redevelopment opportunities may include: ADU Strategy: Retain the existing structure and add one attached ADU and one detached ADU, maximizing rental income under current ADU regulations. Full Redevelopment: Demolish existing improvements and redevelop the site for up to 13 affordable housing units, utilizing low-cost, 3-story, on-grade construction. Plans are currently in progress, providing a head start for a qualified developer. The surrounding area continues to experience sustained demand, making this an ideal opportunity for long-term appreciation, density expansion, and value creation. ( Buyer and Buyer’s Agent to independently verify all information with the City and appropriate governing agencies, including but not limited to zoning, land use, permits, development potential, and allowable improvements.)

Price History

Date
Event
Price
11/12/24
Sold
$760,000
11/08/24
Sold
$760,000
09/30/21
Sold
$926,000
Condition Rating
Tear down
Built in 1930, this property is nearly a century old. The listing description heavily emphasizes its 'redevelopment fundamentals,' 'ADU Strategy,' and the option to 'Demolish existing improvements' for new construction, explicitly stating the property's value is in the land and its potential for redevelopment. The property analysis further reinforces this, noting the 'Age and Implied Condition of Existing Structure' and suggesting it's 'primarily valued as a tear-down.' While some interior photos show updated flooring and recessed lighting in the living area, there are no images of the kitchen or bathrooms, which is a significant red flag, indicating these critical areas are likely in very poor, original, or unappealing condition. The overall context points to the existing structure being beyond practical repair or renovation for an end-user, aligning with the 'tear-down' criteria where the structure is beyond repair and value is based solely on the land.
Pros & Cons

Pros

High Redevelopment Potential: LAR3 zoning allows for significant density expansion, including up to 13 affordable housing units or multiple ADUs, maximizing value for developers and investors.
Strategic Growth Corridor Location: Situated in a highly sought-after Mid-City/Culver City adjacent area, known for strong demand and excellent connectivity to Metro stations, dining, shopping, and major freeways.
Exceptional Long-Term Appreciation: The property is located in an area experiencing sustained growth and increasing demand, promising robust long-term investment returns.
Enhanced Privacy & Quiet: Positioned at the end of a cul-de-sac, offering a more private and potentially quieter setting.
Advanced Redevelopment Planning: Existing plans for affordable housing units are in progress, providing a valuable head start and reducing initial development hurdles for qualified developers.

Cons

MLS Listing Discrepancy: Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 2.
Age and Implied Condition of Existing Structure: Built in 1930, the property's description heavily emphasizes redevelopment, suggesting the current 3-bed, 2-bath home likely requires substantial renovation or is primarily valued as a tear-down.
Extensive Buyer Due Diligence Required: The listing explicitly states that buyers must independently verify all development-related information, indicating potential complexities and the need for significant research and expertise.
Limited Appeal for Immediate End-User Occupancy: The property's primary value proposition is for development or investment, with little emphasis on the current home's features or condition for an end-user seeking a move-in ready residence, and no desirable views mentioned.

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