
Los Angeles, California 90022
This property presents a High-Potential Investment Opportunity with a List Price of $899,999—positioned above the $839,571 Fair Market Value. While priced at a premium, the asset features Ready-to-Issue (RTI) Plans for four luxury units, effectively bypassing the entitlement process. With a Condition Rating of 6, the existing structure serves as a development site for a high-density project. This is a strategic acquisition for Buy-and-Hold Investors or Residential Developers aiming to capitalize on strong rental demand in East Los Angeles.
Property is land value only, full reconstruction required.
Built in 1951 and marketed exclusively as a development opportunity with RTI plans for four new units, indicating the existing structure is a tear-down where value lies in the land and approved permits.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 9555, living area = 1392.
The property comes with approved plans for four luxury units, allowing a developer to bypass the lengthy and unpredictable entitlement process and move immediately into the construction phase.
With a projected gross rental income of $20,000 per month across 20 bedrooms and 20 bathrooms, this project offers a high-density configuration designed to maximize cash flow and cap rate.
Beyond the acquisition price, the buyer must secure substantial financing for the ground-up construction of four large, three-story residential buildings.
The listing requires the buyer to independently verify all permits, square footage, and rental projections, placing the risk of any planning or zoning discrepancies entirely on the investor.
Prime Development Opportunity | RTI Plans Approved for Four Luxury Units | 4623 E 4th Street, Los Angeles, CA 90022 An exceptional investment opportunity in the heart of East Los Angeles! This property comes with approved plans for the construction of four modern, three-story residential units, each thoughtfully designed with 5 bedrooms and 5 bathrooms—an ideal layout for today's strong rental demand. Skip the lengthy entitlement process and move directly toward construction with plans already approved, allowing investors and developers to accelerate their timeline. Once completed, the project is designed to offer approximately 20 bedrooms and 20 bathrooms across four spacious residences, making it an outstanding addition to any investment portfolio. Based on the proposed unit configuration and current market conditions, the completed project has the potential to generate approximately $20,000 per month in gross rental income, though buyers should conduct their own due diligence to verify rental projections and operating assumptions. Located just minutes from Downtown Los Angeles with convenient access to major freeways, schools, shopping, restaurants, and public transportation, this is a rare opportunity to develop a high-demand rental asset in one of East Los Angeles' most established neighborhoods. Highlights: Approved plans for 4 residential units Three-story building design Each unit features 5 bedrooms & 5 bathrooms Excellent income-producing potential Prime East Los Angeles location with strong rental demand Buyer to verify all permits, plans, square footage, rental income projections, and development potential with the appropriate agencies and professionals
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 3.0 |
| Baths | 0.0 | 2.0 |
| Square foot | 1,392 | 1,664.159 |
| Lot Size | 9,555 | 6,066.556 |
| Price | $850.0K | $1.35M |
| Price per sq ft | $611 | $806 |
| Built year | 1951 | 1939 |
| HOA | $0 | $278 |
| Days on market | 42 | 55 |
Aug 12, 2026
$849,999
$899,999
-6% Price Drop
Initial Listing
Jul 29, 2026
$899,999
Initial Listing
Nov 30, 2022
$670,000
Public Record