302 W 107th Street, Los Angeles, California 90003, Los Angeles, 90003 - bed, bath
ACTIVE$1,348,000
302 W 107th Street, Los Angeles, California 90003
0Bed
0Bath
1,914Sqft
6,160Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Exceptional Development Potential: Zoned C2, the property offers significant development opportunity for up to 23 units or 18 units under TOC Tier 1, ideal for multi-family or mixed-use projects.
Top Cons:
Non-RTI Plans: The proposed plans are not yet 'Ready To Issue' (non-RTI), meaning a buyer will need to invest additional time, effort, and resources to finalize approvals before construction can begin.
Compared to the nearby listings
Price:$1.35M vs avg $750.0K (+$598,000)95%
Size:1,914 sqft vs avg 1,900 sqft50%
Price/sqft:$704 vs avg $37595%
More Insights
Built in 1940 (85 years old).
Condition: The property was built in 1940, making it over 80 years old. The MLS listing explicitly states a 'Demolition Requirement' for the existing duplex, indicating it is not intended for renovation or continued use. The provided image is a rendering of a proposed new development, not the current structure. The value of the property is based solely on its development potential (C2 zoning, large corner lot) rather than the existing building.
Year Built
1940
Close
-
List price
$1.35M
Original List price
$1.4M
Price/Sqft
$704
HOA
-
Days on market
-
Sold On
-
MLS number
IN23201153
Home ConditionTear down
Features
View-
About this home
Big Corner Lot-Great Development opportunity to purchase an 6160 SF lot located in South LA, zoned as C2. A developer could build up to 23 units using entitlements from the city or continue with proposed plans that are already in the process to qualify for an 18 unit T.O.C. Tier 1 - 5 story multi use building. Plans are (non-RTI) but the owner has already went through many steps of the T.O.C. process and been approved to submit for final T.O.C. approval.
Price History
Date
Event
Price
07/29/94
Sold
$130,000
10/10/18
Sold
$525,000
05/02/14
Sold
$306,000
Condition Rating
Tear down
The property was built in 1940, making it over 80 years old. The MLS listing explicitly states a 'Demolition Requirement' for the existing duplex, indicating it is not intended for renovation or continued use. The provided image is a rendering of a proposed new development, not the current structure. The value of the property is based solely on its development potential (C2 zoning, large corner lot) rather than the existing building.
Pros & Cons
Pros
Exceptional Development Potential: Zoned C2, the property offers significant development opportunity for up to 23 units or 18 units under TOC Tier 1, ideal for multi-family or mixed-use projects.
Strategic Corner Lot: The large 6160 SF corner lot provides superior visibility, enhanced access, and greater design flexibility for a new development.
Advanced Entitlement Process: The owner has made substantial progress in the TOC process, having been approved to submit for final TOC approval, which significantly de-risks and accelerates the development timeline.
Favorable C2 Zoning: C2 zoning is highly desirable in Los Angeles, supporting a broad range of commercial and residential uses, thereby maximizing potential project scope and value.
Substantial Lot Size: The 6160 square foot lot provides ample space to accommodate a significant multi-unit development, aligning with the proposed project scale.
Cons
Non-RTI Plans: The proposed plans are not yet 'Ready To Issue' (non-RTI), meaning a buyer will need to invest additional time, effort, and resources to finalize approvals before construction can begin.
Demolition Requirement: The existing 1940 duplex will likely require demolition, adding to the initial project costs and extending the overall development timeline.
Location Specific Market Dynamics: Located in South LA, the property's specific market dynamics may present unique considerations or perceived risks for some investors compared to other Los Angeles submarkets.