527 N Hobart Boulevard, Los Angeles, California 90004, Los Angeles, 90004 - 4 bed, 2 bath
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Los Angeles, California 90004
Following a major price reduction, this Koreatown Development Asset is a high-utility acquisition featuring a List Price of $975,000. While the automated Fair Market Value is $742,287, the property’s value is anchored in its 6,144 sqft deep lot and strategic proximity to the Wilshire Financial District and Los Angeles Unified schools. Holding a Condition Rating of 6, the 1911 structure is a "Contractors Delight" primed for a teardown or multi-unit redevelopment. This As-Is opportunity in a high-demand rental corridor is an ideal project for Real Estate Developers and Contractors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 527 N Hobart Boulevard Subject | $975,000* List Price | 4 | 2 | 1,575 | $471 | - |
A 206 N Oxford Avenue Sold | $892,125 | 3 | 1 | 1,745 | $511 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1911 and marketed as a 'Developers/Contractors Delight,' this property is over 100 years old with no mentioned renovations. The listing emphasizes land value and the potential to build new units in an area with active redevelopment, fitting the criteria for a tear-down.
The deep 6,144 sqft lot in a neighborhood with active residential construction presents a prime opportunity for developers to build multi-unit housing.
Centrally located near the Wilshire Financial District, 101 Freeway, and Koreatown, offering excellent proximity to major employment hubs, shopping, and dining.
A substantial price drop from the original $1.25M listing to $975,000 creates a more attractive entry point for investors seeking high-margin projects.
The property is being sold in 'As-Is' condition and is marketed as a 'Contractors Delight,' indicating the need for a complete renovation or teardown.
Built in 1911, the existing structure likely features outdated electrical, plumbing, and structural components that may not meet modern building codes.
Major Price Reduction! Developers/Contractors Delight. 4 Bedroom, 2 Bath, Single story, Deep Lot, Great opportunity to build units. Several new and under construction residential properties in the area. Close to 101 Freeway, Shopping, Restaurants, Wilshire Financial District & L.A. City & other Colleges. A great opportunity for investors and homeowners. To be sold in "As-Is" Where-Is" condition.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.0 | 50% |
| Baths | 2.0 | 4.0 | 32% |
| Square foot | 1,575 | 2,381 | 11% |
| Lot Size | 6,144 | 7,006 | 28% |
| Price | $975.0K | $1.80M | 6% |
| Price per sq ft | $619 | $872 | 23% |
| Built year | 1911 | 1921 | 9% |
| HOA | $0 | $0 | 50% |
| Days on market | 397 | 189 | 0% |
Sep 30, 2025
$975,000
Initial Listing
Mar 21, 2025
$1,250,000
Initial Listing
Aug 27, 1993
$157,000
Public Record