5231 Franklin Avenue, Los Angeles, California 90027, Los Angeles, 90027 - 5 bed, 4 bath
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5231 Franklin Avenue
Los Angeles, California 90027
ACTIVE
CONDITION: POOR
5Beds
4Baths
4,743Sq Ft
23,530Lot Size
Property Price
LIST PRICE$3,400,000
EST. MARKET VALUE
$3,371,436
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $3,400,000—positioned well below the $3,371,436 Fair Market Value (Note: Market value is currently aligned with list price). With a Condition Rating of 5, this 4,743 sqft residence requires a comprehensive overhaul, offering significant upside for those capable of executing a total restoration. The expansive 23,530 sqft lot in the prestigious Laughlin Park neighborhood provides a rare canvas for luxury development. This is an ideal acquisition for Fix-and-Flip Investors or experienced developers seeking a legacy project.
Estimated Market Value
$3,371,436
Based on Realkey algorithm analyzing recent comparable sales in Los Angeles.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5231 Franklin Avenue Subject | $3,400,000* List Price | 5 | 4 | 4,743 | $711 | - |
A 2315 N Hobart Boulevard Sold | $3,900,000 | 4 | 5 | 4,488 | $869 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Poor
TeardownExcellent
Property is extensive renovation needed.
Built in 1921, this property is explicitly described as a 'blank canvas' in need of a 'complete overhaul' and 'total restoration.' The listing states that every room requires work, indicating significant deferred maintenance and the likely necessity of replacing all major systems, including the kitchen, bathrooms, electrical, and plumbing, to make the home habitable by modern standards.
PROSSTRENGTHS & OPPORTUNITIES
- High Available Lot Utilization
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 23530, living area = 4743.
- Great Schools
Elementary School: Ivanhoe Elementary School (9/10).
- Prestigious Location
Situated in the exclusive Laughlin Park neighborhood of Los Feliz, this property offers a rare opportunity to own in one of Los Angeles' most storied and secure gated communities.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =23530, other record lot size in square feet = 18517. Living area discrepancy between mls listing and other public or private record. mls listing living area = 4743, other record living area = 3480.
- Extensive Renovation Required
The property is in need of a complete overhaul and total restoration, as every room requires significant work to be made habitable or modern.
- High Capital Requirement
Beyond the $3.75M acquisition cost, the scale of the necessary repairs will require a substantial additional financial investment and a lengthy construction timeline.
About 5231 Franklin Avenue
Step into the prestigious Laughlin Park neighborhood and discover a hidden gem awaiting its revival. Five bedrooms, four bathrooms, and an impressively large lot that exudes potential. Elevated above the street and shrouded by trees, this once-grand home boasts the timeless charm and sophistication of its era. The entrance welcomes you with a classic pathway and a gate that opens to the famous Laughlin Park - a serene oasis in the heart of the bustling city. However, this property requires an inspired buyer with an eye for design and a passion for renovation. The interior is a blank canvas, waiting to be transformed into a breathtaking masterpiece. Every room needs work, and the home is in need of a complete overhaul. But the reward is great: the chance to create your own vision and restore this residence to its former glory. The potential is endless, limited only by your imagination. You could create an entertainer's paradise or a tranquil retreat, all while enjoying the lush surroundings that surround the property. 5231 Franklin is the perfect opportunity for those who appreciate the magic of restoration and the rewards of patience. Take advantage of this rare opportunity and create a legacy in one of Los Angeles' most sought-after neighborhoods.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1921
- Lot Size
- 23,530 Sq. Ft.
Interior
- Total Bedrooms
- 5
- Total Bathrooms
- 4 (4 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Los Angeles Unified Schools
Grant Elementary School
Grades K-6 • 0.7 mi
4/10
Los Feliz STEMM Magnet
Grades K-6 • 0.7 mi
7/10
Cheremoya Avenue Elementary School
Grades K-6 • 0.9 mi
6/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 5.0 | 3.0 |
| Baths | 4.0 | 2.0 |
| Square foot | 4,743 | 1,664.159 |
| Lot Size | 23,530 | 6,066.556 |
| Price | $3.40M | $1.35M |
| Price per sq ft | $717 | $806 |
| Built year | 1921 | 1939 |
| HOA | $0 | $278 |
| Days on market | 191 | 55 |
Pricing History
Listed for Sale
Aug 1, 2026
$3,400,000
$3,750,000
-9% Price Drop
Initial Listing
Price Change
Mar 2, 2026
$3,750,000
Initial Listing