2858 W Pico, Los Angeles, California 90006, Los Angeles, 90006 - 0 bed, 0 bath
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2858 W Pico
Los Angeles, California 90006
ACTIVE
CONDITION: TEAR DOWN
0Beds
0Baths
1,790Sq Ft
6,513Lot Size
Property Price
LIST PRICE$1,300,000
SUMMARY
Analysis of 2858 W Pico, Los Angeles, California 90006 is currently available with a list price of $1,300,000. The property maintains a Tear down Condition Rating (10/100), reflecting significant deferred maintenance. This property is best suited for experienced investors or developers prepared for substantial renovation work. Located in a high-demand neighborhood within the Los Angeles Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Tear down
TeardownExcellent
Property is land value only, full reconstruction required.
Built in 1920 and over 100 years old with no recorded renovations, this property is being sold as part of a multi-parcel land assembly for a 175-unit affordable housing development, indicating the existing structure holds no residential value.
PROSSTRENGTHS & OPPORTUNITIES
- Significant Development Scale
The combined 32,500 sqft site offers a rare opportunity for a large-scale 175-unit affordable housing project in a high-density urban environment.
- Strategic Koreatown Location
Located in the prime Koreatown area, the property benefits from high demand for residential units and proximity to central Los Angeles amenities.
- Flexible Transaction Terms
The availability of both a bulk sale and a 99-year ground lease option provides developers with versatile financing and acquisition strategies.
CONSRISKS & DEFICIENCIES
- Mandatory Bulk Purchase
The requirement to purchase all five parcels together for $6.5 million increases the capital barrier to entry and excludes smaller-scale investors.
- Entitlement and HPOZ Constraints
Being subject to HPOZ regulations and the ongoing entitlement process may introduce development delays and strict architectural requirements.
About 2858 W Pico
This is a bulk sale that includes 2836, 2842, 2846, 2854, and 2858 W. Pico Blvd. The total asking price for all five parcels is $6.5 million. The seller is not willing to sell the properties individually. The seller is also open to a 99-year ground lease. The asking ground lease rent is $32,500 per month for all five lots. The combined site area is approximately 32,500 square feet, making it an excellent opportunity for an affordable housing development in a prime location. The seller is currently pursuing entitlements with the HPOZ and the City Planning Department for a 100% affordable housing apartment project. The current proposal submitted to the City is for approximately 175 residential units. All five parcels must be sold together. This is an exceptional opportunity for developers and investors specializing in affordable housing or senior housing projects. Affordable housing developers and investors are encouraged to inquire.
Property Details
Public Facts
- Property Type
- Mixed Use
- Year Built
- 1920
- Lot Size
- 6,513 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Los Angeles Unified Schools
Los Angeles Elementary School
Grades K-5 • 0.2 mi
3/10
Hobart Boulevard Elementary School
Grades K-5 • 0.4 mi
3/10
Mariposa-Nabi Primary Center
Grades K-2 • 0.5 mi
0/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 2.0 |
| Baths | 0.0 | 1.3 |
| Square foot | 1,790 | 4,065.4 |
| Lot Size | 6,513 | 6,744.9 |
| Price | $1.30M | $1.13M |
| Price per sq ft | $726 | $262 |
| Built year | 1920 | 1939 |
| HOA | $0 | $907 |
| Days on market | 42 | 110 |
Pricing History
Listed for Sale
Jul 29, 2026
$1,300,000
Initial Listing
Sold
Jul 8, 1997
$10,000
Public Record