2924 S Orange, Los Angeles, California 90016, Los Angeles, 90016 - bed, bath
2924 S Orange
Los Angeles, California 90016
Property Price
SUMMARY
Analysis of 2924 S Orange, Los Angeles, California 90016 reveals a Fairly Priced Property with a current list price of $1,399,000 aligned with the estimated $1,435,158 Fair Market Value. This represents a stable investment opportunity at market rate. 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.
Estimated Market Value
Comparable Sales Map
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 | 1,514 | $948 | - | ||
A 5649 W Jefferson Boulevard Active Under Contract | $1,200,000 List Price | 3 | 1 | 1,148 | $1,045 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
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.
PROSSTRENGTHS & OPPORTUNITIES
- High Available Lot Utilization
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.
- Prime Development Opportunity
This offering presents a rare opportunity to acquire two strategically located adjacent parcels in Los Angeles, ideal for streamlined residential development.
- Favorable Development Conditions
The property is explicitly marketed as being 'under highly favorable conditions' for residential development, suggesting a potentially smoother and more advantageous process.
CONSRISKS & DEFICIENCIES
- Age of Existing Structure
The existing property was built in 1970, suggesting it may require significant renovation or demolition, adding to the overall development costs.
- Uncertainty of 'Review Eligibility'
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.
- Limited Information on Existing Structure
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.
About 2924 S Orange
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
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1970
- Lot Size
- 7,200 Sq. Ft.
Interior
- Total Bedrooms
- -
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Los Angeles Unified Schools
Cienega Elementary School
Grades K-5 • 0.4 mi
Baldwin Hills Elementary School
Grades K-5 • 0.7 mi
Marvin Elementary School
Grades K-5 • 0.7 mi
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | 3.0 | 2% |
| Baths | - | 2.0 | 2% |
| Square foot | 1,514 | 1,370 | 61% |
| Lot Size | 7,200 | 5,232 | 88% |
| Price | $1.40M | $1.01M | 84% |
| Price per sq ft | $924 | $747 | 86% |
| Built year | 1970 | 1927 | 96% |
| HOA | $0 | $0 | 50% |
| Days on market | 52 | 173 | 4% |
Pricing History
Listed for Sale
Jan 13, 2026
$1,399,000
Initial Listing
Sold
May 13, 1998
$171,000
Public Record
Sold
Dec 26, 1997
$131,000
Public Record