315 N Martel Avenue, Los Angeles, California 90036, Los Angeles, 90036 - 5 bed, 4 bath
ACTIVE$2,110,000
315 N Martel Avenue, Los Angeles, California 90036
5Beds
4Baths
3,324Sqft
7,336Lot
Price Vs. Estimate
The estimated value ($2,001,829.785) is $108,170.215 (5%) lower than the list price ($2,110,000). This property may be overpriced.
Key pros and cons
Top Pros:
Exceptional Location: Situated in one of L.A.’s most dynamic and walkable neighborhoods, just blocks from premier shopping, dining, and entertainment at The Grove, Melrose, and Beverly Blvd.
Top Cons:
Extensive Renovation Required: The property is marketed as an opportunity to 'restore or reimagine,' indicating it is not move-in ready and will require significant capital investment and effort for modernization and upgrades.
Compared to the nearby listings
Price:$2.11M vs avg $2.19M ($-80,000)47%
Size:3,324 sqft vs avg 2,508 sqft76%
Price/sqft:$635 vs avg $9556%
More Insights
Built in 1941 (84 years old).
Condition: Built in 1941, this property is explicitly marketed as needing 'extensive renovation' and 'significant capital investment.' The images confirm this, showing a boarded-up entrance, neglected exterior, and interiors that are largely stripped or severely outdated. The kitchen features dated wood cabinets, older appliances, and a basic tile backsplash. Bathrooms are functional but show very old tile work, fixtures, and vanities, likely from renovations 15-30+ years ago. Flooring is either worn hardwood needing refinishing or stripped to subfloor. Light fixtures are missing or very old. The overall condition indicates substantial repairs and rehabilitation are required, aligning with the 'poor' classification.
Year Built
1941
Close
-
List price
$2.11M
Original List price
$2.15M
Price/Sqft
$635
HOA
-
Days on market
-
Sold On
-
MLS number
BB25227819
Home ConditionPoor
Features
ViewNeighborhood
About this home
Unlock the potential of this 5-bedroom, 4-bathroom single-family residence located in one of L.A.’s most dynamic and walkable neighborhoods. Sitting on a 7,336 sq ft corner lot, 315 N Martel Ave offers over 3,300 sq ft of living space, providing a rare opportunity for investors, developers, or visionary end-users to restore or reimagine a character-rich home in a prime R1-zoned location. The spacious lot and convenient rear alleyway access offer excellent potential for an ADU addition or future expansion. Just blocks from The Grove, Melrose, and Beverly Blvd, this property is surrounded by premier shopping, dining, and entertainment in one of the city’s most sought-after submarkets.
Nearby schools
7/10
Hancock Park Elementary School
Public,•K-5•0.7mi
8/10
Third Street Elementary School
Public,•K-5•1.0mi
2/10
Vine Street Elementary School
Public,•K-6•1.6mi
3/10
Laurel Elementary School
Public,•K-8•1.1mi
7/10
John Burroughs Middle School
Public,•6-8•1.2mi
7/10
Fairfax Senior High School
Public,•9-12•0.7mi
Price History
Date
Event
Price
08/16/04
Sold
$906,000
Condition Rating
Poor
Built in 1941, this property is explicitly marketed as needing 'extensive renovation' and 'significant capital investment.' The images confirm this, showing a boarded-up entrance, neglected exterior, and interiors that are largely stripped or severely outdated. The kitchen features dated wood cabinets, older appliances, and a basic tile backsplash. Bathrooms are functional but show very old tile work, fixtures, and vanities, likely from renovations 15-30+ years ago. Flooring is either worn hardwood needing refinishing or stripped to subfloor. Light fixtures are missing or very old. The overall condition indicates substantial repairs and rehabilitation are required, aligning with the 'poor' classification.
Pros & Cons
Pros
Exceptional Location: Situated in one of L.A.’s most dynamic and walkable neighborhoods, just blocks from premier shopping, dining, and entertainment at The Grove, Melrose, and Beverly Blvd.
Significant Development Potential: A generous 7,336 sq ft corner lot with R1 zoning and convenient rear alleyway access offers excellent potential for an ADU addition or future expansion.
Spacious Residence: Boasts over 3,300 sq ft of living space with 5 bedrooms and 4 bathrooms, providing ample room for families or multi-generational living.
Investment/Value-Add Opportunity: Presents a rare opportunity for investors, developers, or visionary end-users to restore or reimagine a character-rich home in a highly sought-after submarket, promising substantial upside.
Access to Highly-Rated Schools: Located within a district offering access to several highly-rated public schools, including Third Street Elementary (8/10) and Fairfax Senior High School (7/10).
Cons
Extensive Renovation Required: The property is marketed as an opportunity to 'restore or reimagine,' indicating it is not move-in ready and will require significant capital investment and effort for modernization and upgrades.
Age of Property & Systems: Built in 1941, the home is over 80 years old, suggesting potential for outdated infrastructure, aging systems (plumbing, electrical, HVAC), and deferred maintenance.
High Initial Investment: The list price of $2.11 million, combined with the necessary renovation costs, represents a substantial upfront financial commitment for potential buyers.