521 S Chicago, Los Angeles, California 90033, Los Angeles, 90033 - 3 bed, 2 bath
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Los Angeles, California 90033
This High-Density Development Asset is listed at $899,000, carrying a premium over the $663,477 Fair Market Value due to its rare LARD 1.5 Zoning and TOC Tier 3 designation. Holding a Condition Rating of 5, the 1911 Craftsman structure requires a total rehabilitation, but the true value resides in the 7,419 Sq. Ft. Lot which allows for multi-unit apartment construction. Featuring City Lights Views and immediate proximity to Downtown Los Angeles, the property offers significant long-term ROI. This is a strategic play for Developers or Value-Add Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 521 S Chicago Subject | $899,000* List Price | 3 | 2 | 1,474 | $450 | - |
A 346 N Fickett Street Active | $699,999 List Price | 2 | 1 | 1,228 | $570 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
This 1911 Craftsman home has not been on the market in 65 years and shows significant deferred maintenance. The interior features, such as the pink-tiled bathroom, are extremely outdated, likely dating back several decades. The listing description explicitly mentions the need for substantial updates and highlights the property's value in its land and high-density zoning potential, indicating that the current structure requires major rehabilitation to meet modern living standards.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7419, living area = 1474.
Zoned LARD 1.5 and situated in a TOC Tier 3 zone, this oversized 7,416 sq. ft. lot offers exceptional investment value with the potential to develop multiple apartment units.
This 1911 Craftsman home retains its original character with natural hardwood floors throughout, complemented by a large attic and basement that provide rare additional storage or creative space.
Offered for the first time in 65 years, the home requires substantial updates and a 'paint brush and imagination' to address decades of deferred maintenance.
The current configuration of 1.5 bathrooms for a three-bedroom home is below modern expectations for a property of this size, potentially requiring a layout reconfiguration.
Craftsman-style family home very close to downtown Los Angeles, offers 3 bedrooms and 1 and a 1/2 bathrooms. Natural hardwood floors throughout the home, enhancing its original charm. Good sized kitchen and dining room as well as living room. Home flows nicely. A large attic area and basement provide excellent storage space or potential for creative use. First time on the market in 65 years. Bring your paint brush and imagination to make this home yours. The lot alone has value and the opportunity to build apartment units. Gross Living Area is 1,643 Square Feet with a lot size of 7,416 per appraisal. It's larger than most homes in the area, providing more living space. Higher Density Zoning as the property is zoned LARD 1.5, allowing one unit for every 1500 sq. ft. of lot area. TOC Tier 3 Zone. Being in the Transit Oriented Communities Tier 3 zone, it permits increased density, enabling the construction of more units. Detached Rumpus/Recreation Room. Craftsman Style as it is designed in the Craftsman architectural style. These features make the property quite unique and potentially very desirable! If you need more detailed information or have specific questions, feel free to ask.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,474 | 1,123.5 | 70% |
| Lot Size | 7,419 | 6,851.5 | 80% |
| Price | $899.0K | $640.0K | 80% |
| Price per sq ft | $610 | $579 | 60% |
| Built year | 1911 | 1922 | 40% |
| HOA | $0 | $0 | 50% |
| Days on market | 101 | 204 | 10% |
Mar 20, 2026
$899,000
$929,000
-3% Price Drop
Initial Listing
Feb 4, 2026
$929,000
$959,000
-3% Price Drop
Initial Listing
Jan 12, 2026
$959,000
Initial Listing
Jan 11, 2026
$959
Initial Listing