2924 S Orange, Los Angeles, California 90016, Los Angeles, 90016 - 0 bed, 0 bath
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Los Angeles, California 90016
This Prime Residential Development Site is listed at $1,399,000, representing a strategic valuation relative to its $1,213,682 Fair Market Value. With a Condition Rating of 6, the property is a clear tear-down, where the primary value resides in the 7,200 sqft lot and its ED 1 Designated Status. These designations allow for streamlined, high-density residential projects in a high-demand corridor near Baldwin Hills Elementary. This Strategic Development Asset is an ideal acquisition for Developers and Real Estate Investors targeting Los Angeles' housing incentives.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2924 S Orange Subject | $1,399,000* List Price | 0 | 0 | 1,514 | $802 | - |
A 5639 Coliseum Street Sold | $1,000,000 | 3 | 2 | 1,415 | $707 | 0.9 mi |
B 5649 W Jefferson Boulevard Sold | $1,065,000 | 3 | 1 | 1,148 | $928 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
The property was built in 1970, making it 54 years old. The MLS description explicitly markets the offering for 'residential development' and highlights the 'Age of Existing Structure' as a weakness, stating it 'may require significant renovation or demolition.' Furthermore, the property analysis indicates the value is based solely on the land and its potential for redevelopment. The complete absence of interior images or details about the existing 1514 sqft residence strongly suggests the current structure is not considered a valuable asset and is likely intended for demolition, fitting the 'tear-down' criteria.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7200, living area = 1514.
This offering presents a rare opportunity to acquire two strategically located adjacent parcels in Los Angeles, ideal for streamlined residential development.
The property is explicitly marketed as being 'under highly favorable conditions' for residential development, suggesting a potentially smoother and more advantageous process.
The existing property was built in 1970, suggesting it may require significant renovation or demolition, adding to the overall development costs.
While one parcel is an 'Eligible Site,' the 'Review Eligibility' status of the second parcel might introduce some uncertainty or additional steps in the development approval process compared to a fully eligible site.
The description heavily emphasizes development potential, providing minimal details about the current 1514 sqft residence, implying it's not a key asset and likely requires substantial work or removal.
This offering presents a rare opportunity to acquire two strategically located adjacent parcels in Los Angeles, ideal for streamlined residential development under highly favorable conditions. Key Investment Highlights: ED 1 Designated Properties: 2929 S. Mansfield holds “Eligible Site” status and 2924 S. Orange Dr. holds “Review Eligibility” status
No exterior & parking available.
Grades K-5 • 0.4 mi
Grades K-5 • 0.7 mi
Grades K-5 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 3.0 | 2% |
| Baths | 0.0 | 2.0 | 2% |
| Square foot | 1,514 | 1,427 | 54% |
| Lot Size | 7,200 | 5,362.5 | 83% |
| Price | $1.40M | $1.05M | 80% |
| Price per sq ft | $924 | $748 | 85% |
| Built year | 1970 | 1927 | 96% |
| HOA | $0 | $0 | 50% |
| Days on market | 99 | 188 | 22% |
Jan 13, 2026
$1,399,000
Initial Listing
May 13, 1998
$171,000
Public Record
Dec 26, 1997
$131,000
Public Record