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

3030 W 12th Place, Los Angeles, California 90006 home-pic-0
ACTIVE$1,995,000
3030 W 12th Place, Los Angeles, California 90006
0Bed
0Bath
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
SB25056027
Home ConditionTear down
Features
Patio
View-

About this home

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

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. Text or email 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
Built in 1922, the property shows no evidence of major renovations in the past 50+ years. The images reveal extremely outdated and neglected interiors, particularly in the kitchen and bathrooms, which appear to be in a state of disrepair with very old fixtures, cabinets, and flooring. The listing description itself focuses entirely on the development potential of the land for a new 17-unit building, implying the existing 'fully vacant duplex' is not considered a viable asset for habitation and its value lies solely in the land and its redevelopment opportunity.
Pros & Cons

Pros

RTI Approved Development: The project is 'Ready To Issue' (RTI) approved for a 17-unit building, significantly reducing development timelines and permitting risks for investors.
Cost-Efficient Design: The proposed design incorporates cost-saving features such as on-grade parking, exterior egress balcony, wood-frame staircase, and underground electric service, optimizing construction costs.
High-Density Potential: The plan allows for a five-story, 12,092 sqft multi-unit building with 17 units on a 7,013 sqft lot, maximizing land use in a desirable Los Angeles market.
Favorable Affordable Housing Requirements: Unlike fully affordable developments, this project only requires two affordable ELI units, allowing for a higher proportion of market-rate units.
Premium Unit Features: Two of the residences feature double-height ceilings with loft spaces, offering a premium, open-concept feel that enhances marketability and potential rental/sale value.

Cons

Limited Parking Ratio: The proposed design includes only six parking spaces for 17 units, which is a low ratio and could be a significant challenge for future residents in Los Angeles.
Significant Price Reduction: The list price has been reduced from $2.388M to $1.995M, and previous sales were considerably lower, suggesting potential overpricing or market resistance that warrants thorough financial due diligence.
Inherent Development Risks: Despite RTI approval, all ground-up development projects carry inherent risks including potential construction delays, cost overruns, and market fluctuations that could impact profitability.

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