242 N St Andrews, Los Angeles, California 90004, Los Angeles, 90004 - 2 bed, 1 bath
ACTIVE$1,500,000$1,596/sqft
Est. Value: $1,307,994
-12%
AboveEstimate
242 N St Andrews, Los Angeles, California 90004
2Beds
1Bath
1,596Sqft
6,757Lot
Price Vs. Estimate
The estimated value ($1,307,994.3) is $192,005.7 (12%) lower than the list price ($1,500,000). This property may be overpriced.
Key pros and cons
Top Pros:
Exceptional C2 Zoning & Mixed-Use Potential: The property boasts LAC2 zoning, allowing for diverse development including commercial (retail, office, restaurant) and high-density residential (R4 level), offering significant flexibility for investors.
Top Cons:
MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6757, other record lot size in square feet = 6622.
Compared to the nearby listings
Price:$1.50M vs avg $2.14M ($-640,000)32%
Size:1,596 sqft vs avg 2,238 sqft21%
Price/sqft:$940 vs avg $97844%
More Insights
Built in 1917 (109 years old).
Condition: Built in 1917, the property is over 100 years old. The listing description explicitly states the 'current structure needs work' and is 'sold AS-IS,' positioning it as an 'investment opportunity' for investors 'looking to build new mixed-use project.' The exterior images show significant age, peeling paint, and general disrepair, consistent with a property that has not seen major renovations in decades. The absence of interior photos further suggests the existing structure is not considered habitable or suitable for renovation, with its primary value lying in the C2-zoned land and its development potential rather than the existing building.
Year Built
1917
Close
-
List price
$1.5M
Original List price
$1.5M
Price/Sqft
$940
HOA
-
Days on market
-
Sold On
-
MLS number
OC26007812
Home ConditionTear down
Features
Patio
View-
About this home
Outstanding LAC2 Zoning Investment Opportunity – Mixed-Use Heaven in Koreatown Adjacent! Unlock the full potential of this C2-zoned lot with permitted commercial (retail, office, restaurant) + high-density residential (R4 level) development. Current structure needs work (sold AS-IS), but the location is unbeatable: prime St. Andrews Pl, minutes to Historic Hancock Park, Larchmont Village, and endless Koreatown amenities. Ideal for savvy investors looking to build new mixed-use project, ADUs, or commercial conversion. Tremendous upside in a supply-constrained market – bring your vision and offers!
J
Jessica Hong
Listing Agent
Nearby schools
6/10
Van Ness Avenue Elementary School
Public,•K-5•0.4mi
6/10
Charles H. Kim Elementary School
Public,•K-5•0.4mi
6/10
Wilshire Park Elementary School
Public,•K-5•1.1mi
3/10
Wilton Place Elementary School
Public,•K-5•1.2mi
2/10
Vine Street Elementary School
Public,•K-6•1.2mi
8/10
Third Street Elementary School
Public,•K-5•1.4mi
3/10
Los Angeles Elementary School
Public,•K-5•1.9mi
7/10
Queen Anne Place Elementary School
Public,•K-5•2.1mi
2/10
Wilshire Crest Elementary School
Public,•K-5•2.3mi
3/10
Arlington Heights Elementary School
Public,•K-5•2.5mi
6/10
Carson-Gore Academy Of Enviornmental Studies
Public,•K-5•2.5mi
3/10
Joseph Le Conte Middle School
Public,•6-8•1.4mi
3/10
Hubert Howe Bancroft Middle School
Public,•6-8•1.7mi
7/10
John Burroughs Middle School
Public,•6-8•1.7mi
5/10
Pio Pico Middle School
Public,•6-8•2.2mi
3/10
Johnnie Cochran, Jr., Middle School
Public,•6-8•2.5mi
4/10
Los Angeles Senior High School
Public,•9-12•1.8mi
7/10
Fairfax Senior High School
Public,•9-12•2.9mi
Condition Rating
Tear down
Built in 1917, the property is over 100 years old. The listing description explicitly states the 'current structure needs work' and is 'sold AS-IS,' positioning it as an 'investment opportunity' for investors 'looking to build new mixed-use project.' The exterior images show significant age, peeling paint, and general disrepair, consistent with a property that has not seen major renovations in decades. The absence of interior photos further suggests the existing structure is not considered habitable or suitable for renovation, with its primary value lying in the C2-zoned land and its development potential rather than the existing building.
Pros & Cons
Pros
Exceptional C2 Zoning & Mixed-Use Potential: The property boasts LAC2 zoning, allowing for diverse development including commercial (retail, office, restaurant) and high-density residential (R4 level), offering significant flexibility for investors.
Prime Koreatown Adjacent Location: Situated on prime St. Andrews Pl, the location is unbeatable, minutes from Historic Hancock Park, Larchmont Village, and extensive Koreatown amenities, ensuring high demand and accessibility.
Significant Investment Upside: The property offers tremendous upside in a supply-constrained market, ideal for savvy investors looking to capitalize on new mixed-use projects, ADUs, or commercial conversions.
Versatile Development Options: The zoning and location support a range of development strategies, from building new mixed-use projects to adding ADUs or converting for commercial use, catering to various investment goals.
Generous Lot Size for Urban Development: With a 6757 sqft lot, there is ample space for substantial development in a dense urban environment, maximizing the potential of the C2/R4 zoning.
Cons
MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6757, other record lot size in square feet = 6622.
Existing Structure in 'AS-IS' Condition: The current 1917 structure 'needs work' and is sold 'AS-IS,' indicating that significant renovation or demolition costs will be required before any new development or use.
Requires Substantial Capital Investment: Given the need for redevelopment (new mixed-use project, ADUs, or commercial conversion), the property will require considerable capital outlay beyond the purchase price for construction and permits.
No Existing View: The property explicitly states 'view: None,' which means future residential units or commercial spaces will not benefit from scenic outlooks, potentially impacting market appeal for some buyers/tenants.