283 E 50th Street, Los Angeles, California 90011, Los Angeles, 90011 - bed, bath
ACTIVE$749,000$7,328/sqft
283 E 50th Street, Los Angeles, California 90011
0Bed
0Bath
7,328Sqft
5,438Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Development-Ready Opportunity: The property comes with 'Ready To Issue' (RTI) permits for a 4-unit development, significantly streamlining the approval process and reducing initial development timelines for builders and investors.
Top Cons:
As-Is Condition & Demolition Costs: The property is sold 'as-is,' and given the 1914 build year and new construction plans, it likely requires demolition of the existing structure, adding substantial upfront costs and project complexity.
Compared to the nearby listings
Price:$749.0K vs avg $699.0K (+$50,000)59%
Size:7,328 sqft vs avg 2,076 sqft97%
Price/sqft:$102 vs avg $3373%
More Insights
Built in 1914 (112 years old).
Condition: The property was built in 1914, making it over 100 years old. The listing explicitly states it's being sold 'as-is' with 'Ready To Issue' (RTI) permits for a new 4-unit development, and the property analysis notes it 'likely requires demolition of the existing structure.' The provided image is a blueprint for the new development, not photos of the current structure, indicating the existing building's condition is irrelevant to its value, which is based on the land and development potential. This aligns perfectly with the 'tear-down' criteria.
Year Built
1914
Close
-
List price
$749K
Original List price
$749K
Price/Sqft
$102
HOA
-
Days on market
-
Sold On
-
MLS number
DW25019788
Home ConditionTear down
Features
View-
About this home
BUILD 4 UNITS_ RTI_ AREADY TO ISSUE all you need JUST PULL THE PERMITS TO START DEVELOPING THIS 4 UNITS. (3 STORY, 2 DUPLEX) the Builders/Developer's can easily start with planning to build a contemporary 3 story, 2 duplex buildings. The front unit, one is a SFR with ADU both are designed with 5 bedrooms and 5 Bathrooms each. The other 2 unit (duplex) are designed with 5 bedrooms and 3 baths each. Easy Access to freeways and public transportation. The project can be delivered in as-is condition with approved plans ready to issue. Please contact listing agents for more details.
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Listing Agent
Nearby schools
2/10
Main Street Elementary School
Public,•K-5•0.3mi
2/10
Forty-Ninth Street Elementary School
Public,•K-5•0.5mi
5/10
Estrella Elementary School
Public,•K-5•0.5mi
5/10
West Vernon Avenue Elementary School
Public,•K-5•0.7mi
2/10
Aurora Elementary School
Public,•K-5•0.8mi
3/10
Sally Ride Elementary: A Smart Academy
Public,•K-5•0.8mi
4/10
Ricardo Lizarraga Elementary School
Public,•K-5•0.9mi
2/10
Harmony Elementary School
Public,•K-5•0.9mi
3/10
Fifty-Second Street Elementary School
Public,•K-5•1.0mi
2/10
Marguerite Poindexter Lamotte Elementary
Public,•K-5•1.1mi
/10
Dr. James Edward Jones Primary Center
Public,•K-2•1.2mi
3/10
Los Angeles Academy Middle
Public,•6-8•0.6mi
3/10
George Washington Carver Middle School
Public,•6-8•0.7mi
2/10
John Muir Middle School
Public,•6-8•1.4mi
3/10
William Jefferson Clinton Middle School
Public,•6-8•1.5mi
2/10
Augustus F. Hawkins High A Critical Design And Gaming
Public,•9-12•1.3mi
2/10
Thomas Jefferson Senior High School
Public,•9-12•1.4mi
3/10
Nava College Preparatory Academy
Public,•9-12•1.4mi
3/10
Manual Arts Senior High School
Public,•9-12•1.4mi
3/10
John C. Fremont Senior High School
Public,•9-12•1.9mi
5/10
Santee Education Complex
Public,•9-12•2.2mi
Price History
Date
Event
Price
06/21/24
Sold
$500,000
Condition Rating
Tear down
The property was built in 1914, making it over 100 years old. The listing explicitly states it's being sold 'as-is' with 'Ready To Issue' (RTI) permits for a new 4-unit development, and the property analysis notes it 'likely requires demolition of the existing structure.' The provided image is a blueprint for the new development, not photos of the current structure, indicating the existing building's condition is irrelevant to its value, which is based on the land and development potential. This aligns perfectly with the 'tear-down' criteria.
Pros & Cons
Pros
Development-Ready Opportunity: The property comes with 'Ready To Issue' (RTI) permits for a 4-unit development, significantly streamlining the approval process and reducing initial development timelines for builders and investors.
High-Density Income Potential: Approved plans include two 5-bedroom/5-bathroom units (SFR + ADU) and two 5-bedroom/3-bathroom duplex units, maximizing the number of bedrooms and potential rental income from the property.
Strategic Urban Location: Located in Los Angeles with easy access to freeways and public transportation, enhancing its appeal to future tenants and supporting strong rental demand.
Quadruplex Zoning/Type: Classified as a 'Residential Income' property with a 'Quadruplex' sub-type, it is inherently designed for multiple rental streams, offering a robust investment opportunity.
Substantial Lot Size for Development: A 5,438 sqft lot in an urban area provides ample space for the proposed 3-story, 4-unit development, allowing for a significant build-out.
Cons
As-Is Condition & Demolition Costs: The property is sold 'as-is,' and given the 1914 build year and new construction plans, it likely requires demolition of the existing structure, adding substantial upfront costs and project complexity.
Significant Price Discrepancy: The current list price of $749,000 is considerably higher than a recent recorded sale at $500,000, necessitating thorough due diligence to justify the premium and assess market value.
Potential for Unforeseen Development Hurdles: While RTI permits are a major advantage, 'just pull the permits' can still involve unexpected impact fees, utility connection costs, and potential construction delays or cost overruns inherent in large-scale urban development.