
Los Angeles, California 90029
This Renovated Duplex Development Asset is listed at $1,499,000, reflecting a strategic premium over the $1,353,838 Fair Market Value due to its significant 28-unit ED1 Development Potential. Currently generating $6,600 in Monthly Rent, the property provides immediate cash flow while planning a 16-unit market-rate or 100% affordable project. Featuring a Fair Condition Rating on a 6,827 sqft Lot, the site is located near John Marshall Senior High in a high-demand Hollywood pocket. This versatile acquisition is ideal for Developers or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 4920 4922 W Fountain Avenue Subject | $1,499,000* List Price | 0 | 0 | 1,656 | $818 | - |
A 1251 N Commonwealth Active | $1,169,000 List Price | 4 | 3 | 1,750 | $668 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property, built in 1924, has undergone recent cosmetic renovations including new laminate/hardwood flooring, fresh paint, modern flush-mount lighting, and mini-split AC units. The kitchen features updated cabinets and countertops, but the appliances (refrigerator and range) appear older and basic. No bathroom images are provided, which is a significant omission for a 'renovated' property. While the interior is move-in ready and functional for tenants, the overall structure is very old, and the kitchen appliances are outdated. The listing's emphasis on 'Possible Apts. Development project' with renderings for a new building suggests the property's primary value is in its land for redevelopment, rather than the long-term quality of the existing structure, despite its recent updates. This combination of an aged structure with partial, mostly cosmetic, updates places it in the 'Fair' category, as it's maintained but shows signs of being outdated in key areas and lacks a comprehensive modern renovation.
The property offers substantial future value with explicit potential for apartment development, including options for 16 market-rate units (with subterranean parking) or 28 100% affordable ED1 units (no parking requirement).
The renovated duplex is fully leased, generating $6,600 monthly rent, providing immediate cash flow and offsetting holding costs for a developer or investor.
Located in the highly desirable Hollywood area (MLS Area C20) of Los Angeles, ensuring strong demand and potential for appreciation.
Built in 1924, the existing duplex is nearly a century old, which may entail higher maintenance costs if retained or significant demolition expenses if redeveloped.
The property description explicitly states 'view: None,' which could be a minor drawback in a market where scenic views often command a premium.
While offering high potential, undertaking a 16-28 unit apartment development is a complex endeavor involving substantial capital, time, and navigating regulatory hurdles, including potential subterranean parking requirements for market-rate units.
Renovated Duplex fully leased at $6,600 Monthly rent. Possible Apts. Development project Market Rate Project: 16 units includes 2 Affordable. 4 story Building with1 level Subterranean parking 100% Affordable: ED1 Project; 28 units of Singles & 1 bedrooms with No Parking requirement.
No exterior & parking available.
Grades K-6 • 0.3 mi
Grades K-5 • 0.4 mi
Grades K-2 • 0.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 1,656 | 2,881 | 20% |
| Lot Size | 6,827 | 6,752 | 60% |
| Price | $1.50M | $1.20M | 60% |
| Price per sq ft | $905 | $411 | 80% |
| Built year | 1924 | 1925 | 40% |
| HOA | $0 | $0 | 50% |
| Days on market | 572 | 435 | 0% |
Sep 25, 2025
$1,499,000
Initial Listing
Sep 27, 2024
$1,599,000
Initial Listing
Jul 1, 2022
$945,000
Public Record