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3030 W 12th Place, Los Angeles, California 90006, Los Angeles, 90006 - 2 bed, 2 bath

3030 W 12th Place, Los Angeles, California 90006 home-pic-0
ACTIVE$1,995,000
3030 W 12th Place, Los Angeles, California 90006
2Beds
2Baths
1,936Sqft
7,013Lot
Year Built
1922
Close
-
List price
$2M
Original List price
$2.39M
Price/Sqft
$1,030
HOA
-
Days on market
-
Sold On
-
MLS number
SB25055264
Home ConditionTear down
Features
ViewNeighborhood

About this home

We found 3 Cons,5 Pros. Rank: price - $2.00M(75th), sqft - 1936(50th), beds - 2(75th), baths - 2(75th).

A Rare LA Development Opportunity—RTI & Ready to Rise Investors, developers, and visionaries—this is the moment you’ve been waiting for. Welcome to 3030 W 12th Place, where an RTI-approved, 17-unit project is ready to take shape in the heart of Los Angeles. Currently home to a fully vacant duplex, this site holds the blueprint for something much bigger: a five-story, 12,092 sqft multi-unit building designed for maximum efficiency and economic viability—without sacrificing quality. This project is designed to be both cost-smart and highly efficient. With on-grade parking rather than costly subterranean excavation, an exterior egress balcony that eliminates the need for extensive interior walls, and a wood-frame staircase in place of a heavy steel structure, every aspect has been carefully considered to keep costs down while maintaining integrity. Additionally, underground electric service from the power pole means there’s no need for an on-site transformer, streamlining the build even further. Unlike fully affordable developments, this project only requires two affordable ELI units, making it a rare find in the market. Adding to its appeal, two of the residences feature double-height ceilings with loft spaces, offering a premium, open-concept feel. With six parking spaces, a rooftop area, and a thoughtful design that balances economics with elegance, this project is primed for success. No guesswork, no costly surprises—just a streamlined path to a high-value asset. Opportunities like this don’t sit around in LA—are you ready to build the future of 3030 W 12th Place? Let’s make it happen. Email or Text for PLANS

Nearby schools

3/10
Los Angeles Elementary School
Public,•K-5•0.1mi
3/10
Hobart Boulevard Elementary School
Public,•K-5•0.4mi
/10
Mariposa-Nabi Primary Center
Public,•K-2•0.6mi
3/10
Wilton Place Elementary School
Public,•K-5•0.9mi
6/10
Carson-Gore Academy Of Enviornmental Studies
Public,•K-5•0.9mi
2/10
Twenty-Fourth Street Elementary School
Public,•K-5•0.9mi
5/10
Pio Pico Middle School
Public,•6-8•0.6mi
3/10
Berendo Middle School
Public,•6-8•0.8mi
3/10
Johnnie Cochran, Jr., Middle School
Public,•6-8•1.2mi
3/10
Rfk Community Schools-Ambassador-Global Leadership
Public,•6-12•1.1mi
4/10
Rfk Community Schools-Los Angeles High School Of The Arts
Public,•9-12•1.1mi
5/10
Rfk Community Schools- For The Visual Arts And Humanities
Public,•9-12•1.1mi
4/10
West Adams Preparatory High School
Public,•9-12•1.1mi
4/10
Los Angeles Senior High School
Public,•9-12•1.6mi

Price History

Date
Event
Price
04/11/22
Sold
$1,350,000
10/01/21
Sold
$1,325,000
03/19/21
Sold
$915,000
Condition Rating
Tear down
The property, built in 1922, is explicitly marketed as a 'development opportunity' with RTI-approved plans for a new 17-unit building. The description states it is 'currently home to a fully vacant duplex,' and the provided images clearly show a severely dilapidated, boarded-up structure with broken windows and peeling paint, indicating it is unlivable and beyond repair. The value is solely in the land and its redevelopment potential, aligning perfectly with the 'tear-down' criteria.
Pros & Cons

Pros

RTI Approved & Streamlined Development: The project is 'RTI-approved' (Ready To Issue), significantly de-risking and accelerating the development process, offering a 'streamlined path to a high-value asset' with 'no guesswork, no costly surprises'.
Cost-Optimized Design: The design incorporates multiple cost-saving features such as on-grade parking, an exterior egress balcony, a wood-frame staircase, and underground electric service, maximizing economic viability and efficiency.
Favorable Affordable Housing Ratio: Requiring only two affordable ELI units for a 17-unit project is a 'rare find' in the Los Angeles market, enhancing the project's overall profitability compared to more restrictive developments.
High-Value Unit Features: The inclusion of double-height ceilings with loft spaces in two residences offers premium, open-concept living, appealing to a higher-end market segment and potentially commanding higher rents or sale prices.
Prime Los Angeles Development Location: Situated in the 'heart of Los Angeles' (Mid-Wilshire area), this location offers strong market demand for multi-unit housing and potential for high rental yields or resale value.

Cons

Significant Capital Investment Required: Despite cost-saving designs, developing a 17-unit building still necessitates substantial upfront capital and carries inherent construction financing risks.
Limited Parking for Unit Count: Only six parking spaces for 17 units is a low ratio, which could be a significant deterrent for potential tenants or buyers in a car-centric city like Los Angeles.
No Immediate Income Generation: The current duplex is 'fully vacant,' meaning the property generates no income during the development phase, requiring the investor to carry the land until completion.

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