2746 Benedict Street, Los Angeles, California 90039, Los Angeles, 90039 - 2 bed, 1 bath
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Los Angeles, California 90039
This High-Potential Redevelopment Asset is listed at $1,050,000, compared to a $909,739 Fair Market Value, reflecting the premium demand for land in the revitalizing Frogtown artist enclave. With a Condition Rating of 6 and extreme deferred maintenance, the property offers significant Value-Add potential through a complete overhaul or new construction on the 5,367 sqft lot. Located near Dodger Stadium and the 8/10 rated Allesandro Elementary School, this asset is a strategic play for Fix-and-Flip Investors and Developers targeting high-growth urban markets.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2746 Benedict Street Subject | $1,050,000* List Price | 2 | 1 | 932 | $990 | - |
A 2621 Silver Ridge Sold | $1,050,000 | 2 | 1 | 1,042 | $1,008 | 0.7 mi |
B 2215 Allesandro Way Sold | $1,010,000 | 3 | 1 | 1,192 | $847 | 0.8 mi |
C 2724 Queen Street Active Under Contract | $1,050,000 List Price | 2 | 1 | 720 | $1,458 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1922 and on the market for the first time in over 80 years, this property shows extreme deferred maintenance. The exterior images reveal significant peeling paint, an aged roof, and a window AC unit, indicating severely outdated systems and a lack of upkeep for decades. With no major renovations in over 80 years, all major components (electrical, plumbing, HVAC, roof, foundation) are likely original or well past their expected lifespan, requiring complete replacement. The listing's emphasis on 'investor opportunity' and 'opportunity for this lot' strongly suggests that the property's value lies primarily in the land and its redevelopment potential, rather than the existing structure, which would require extensive and likely uneconomical rehabilitation.
Being on the market for the first time in over 80 years in a rapidly revitalizing area like Frogtown/Elysian Valley presents a significant investor opportunity for substantial value appreciation or redevelopment.
The property is situated in a 'great artist area' with 'beautiful revitalization underway,' offering a vibrant community, unique local charm, and strong growth prospects.
A substantial 5,367 sqft lot with a relatively small existing structure (932 sqft) provides ample space for expansion, adding an Accessory Dwelling Unit (ADU), or complete redevelopment to maximize its potential.
Built in 1922 and on the market for over 80 years, the property likely requires extensive modernization, repairs, and updates, implying a substantial upfront capital investment for buyers.
The existing 932 sqft, 2-bedroom, 1-bathroom residence is relatively small, which may not meet the needs of all buyers without immediate plans for expansion or redevelopment.
The property explicitly states 'view: None,' which can be a drawback in the competitive Los Angeles market where desirable views often contribute significantly to property value and appeal.
First time on the market in over 80+ years. Great Frogtown/Elysian Valley Investor Opportunity - There is so much opportunity here. This area is a great artist area, beautiful revitalization underway, Dodger Stadium adjacent, close to the freeway, cute and quaint restaurants, trails, and so much more! Currently there is a cute little 2 bed, 1 bath single family residence. So many opportunities for this lot.
No exterior & parking available.
Grades K-6 • 0.4 mi
Grades K-6 • 0.5 mi
Grades K-6 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 34% |
| Baths | 1.0 | 2.0 | 16% |
| Square foot | 932 | 1,604 | 10% |
| Lot Size | 5,367 | 5,459.5 | 42% |
| Price | $1.05M | $1.50M | 13% |
| Price per sq ft | $1.1K | $1.1K | 62% |
| Built year | 1922 | 1930 | 9% |
| HOA | $0 | $0 | 50% |
| Days on market | 640 | 134 | 0% |
Sep 4, 2024
$1,050,000
Initial Listing