405 E 43rd Place, Los Angeles, California 90011, Los Angeles, 90011 - 2 bed, 1 bath
ACTIVE$649,999
405 E 43rd Place, Los Angeles, California 90011
2Beds
1Bath
1,250Sqft
5,120Lot
Price Vs. Estimate
The estimated value ($463,498.515) is $186,500.485 (28%) lower than the list price ($649,999). This property may be overpriced.
Key pros and cons
Top Pros:
High-Density Zoning: The property boasts LAR3 zoning, which is highly desirable for developers as it permits the construction of multiple residential units, significantly increasing its potential value.
Top Cons:
Advanced Age of Existing Structure: Built in 1905, the current 2-bed, 1-bath single-family home is very old and will likely require extensive renovation or complete demolition, adding substantial costs to any development project.
Compared to the nearby listings
Price:$650.0K vs avg $560.0K (+$89,999)74%
Size:1,250 sqft vs avg 1,216 sqft58%
Price/sqft:$520 vs avg $51355%
More Insights
Built in 1905 (120 years old).
Condition: The property was built in 1905, making it over 50 years old. Exterior images show significant deterioration, including peeling paint and very old windows, indicating a severe lack of maintenance and no major renovations in decades. The listing description explicitly highlights the LAR3 zoning and submitted plans for 5+ new units, strongly suggesting the existing structure's value is negligible and its primary purpose is to be demolished for redevelopment. The absence of interior photos further supports the conclusion that the current house is likely unlivable or beyond practical repair.
Year Built
1905
Close
-
List price
$650K
Original List price
$780K
Price/Sqft
$520
HOA
-
Days on market
-
Sold On
-
MLS number
DW25156506
Home ConditionTear down
Features
View-
About this home
LAR3 Zoning on a 5,120 Lot 40 by 128 dimension Owner has submitted plans for 5+ units but no RTI yet
Nearby schools
4/10
Ricardo Lizarraga Elementary School
Public,•K-5•0.4mi
3/10
Trinity Street Elementary School
Public,•K-5•0.5mi
2/10
Harmony Elementary School
Public,•K-5•0.5mi
2/10
Forty-Ninth Street Elementary School
Public,•K-5•0.6mi
3/10
Wadsworth Avenue Elementary School
Public,•K-5•0.6mi
3/10
Sally Ride Elementary: A Smart Academy
Public,•K-5•0.7mi
5/10
West Vernon Avenue Elementary School
Public,•K-5•0.7mi
/10
Maple Primary Center
Public,•K-1•0.7mi
4/10
Quincy Jones Elementary School
Public,•K-5•0.8mi
5/10
Dolores Huerta Elementary School
Public,•K-5•1.0mi
3/10
Twenty-Eighth Street Elementary School
Public,•K-5•1.0mi
2/10
Marguerite Poindexter Lamotte Elementary
Public,•K-5•1.2mi
5/10
Menlo Avenue Elementary School
Public,•K-5•1.3mi
4/10
Nevin Avenue Elementary School
Public,•K-5•1.4mi
/10
Dr. James Edward Jones Primary Center
Public,•K-2•1.4mi
5/10
Twentieth Street Elementary School
Public,•K-5•1.6mi
5/10
San Pedro Street Elementary School
Public,•K-5•1.8mi
2/10
John W. Mack Elementary School
Public,•K-5•2.1mi
4/10
Norwood Street Elementary School
Public,•K-5•2.2mi
3/10
George Washington Carver Middle School
Public,•6-8•0.4mi
3/10
William Jefferson Clinton Middle School
Public,•6-8•1.0mi
4/10
John Adams Middle School
Public,•6-8•1.2mi
2/10
Dr. Julian Nava Learning Academies-School Of Business And Technology
Public,•6-8•1.3mi
2/10
John Muir Middle School
Public,•6-8•1.8mi
2/10
Barack Obama Global Preparation Academy
Public,•6-8•2.4mi
2/10
Thomas Jefferson Senior High School
Public,•9-12•1.0mi
3/10
Nava College Preparatory Academy
Public,•9-12•1.0mi
3/10
Manual Arts Senior High School
Public,•9-12•1.4mi
5/10
Santee Education Complex
Public,•9-12•1.7mi
4/10
West Adams Preparatory High School
Public,•9-12•2.7mi
Price History
Date
Event
Price
08/25/22
Sold
$575,000
Condition Rating
Tear down
The property was built in 1905, making it over 50 years old. Exterior images show significant deterioration, including peeling paint and very old windows, indicating a severe lack of maintenance and no major renovations in decades. The listing description explicitly highlights the LAR3 zoning and submitted plans for 5+ new units, strongly suggesting the existing structure's value is negligible and its primary purpose is to be demolished for redevelopment. The absence of interior photos further supports the conclusion that the current house is likely unlivable or beyond practical repair.
Pros & Cons
Pros
High-Density Zoning: The property boasts LAR3 zoning, which is highly desirable for developers as it permits the construction of multiple residential units, significantly increasing its potential value.
Development Potential: Plans for 5+ units have already been submitted, indicating a clear and advanced path for multi-unit development, reducing initial planning hurdles for a prospective buyer.
Significant Price Reduction: The list price has seen multiple reductions from $780,000 to $649,999, presenting a more attractive entry point and potential for a higher return on investment for a developer.
Generous Lot Size: With a 5,120 sqft lot (40x128 dimensions), there is ample space to accommodate a multi-unit development under the LAR3 zoning regulations.
Strategic Los Angeles Location: Located in Los Angeles, the property benefits from a robust real estate market, strong rental demand, and long-term appreciation potential, especially for new housing developments.
Cons
Advanced Age of Existing Structure: Built in 1905, the current 2-bed, 1-bath single-family home is very old and will likely require extensive renovation or complete demolition, adding substantial costs to any development project.
Uncertainty of Development Approval: While plans are submitted, the 'no RTI yet' status means the buyer will inherit the responsibility, cost, and potential delays associated with obtaining final Ready To Issue permits for the proposed multi-unit development.
Limited Single-Family Home Appeal: The property's primary value lies in its development potential; its current configuration as an old, modest 2-bed, 1-bath home with no notable views offers limited appeal as a standalone single-family residence.