
Los Angeles, California 90003
This property presents a High-Potential Investment Opportunity with a List Price of $565,000—positioned well above the $461,129 Fair Market Value by -22%. Featuring LAC2 Zoning and a 5,400 sq ft lot, this asset is primed for multi-unit or mixed-use development. Given its Condition Rating of 6 and lack of FHA eligibility, the property requires a comprehensive renovation or ground-up redevelopment. This is a strategic acquisition for Experienced Developers or Cash Investors seeking to maximize land utility in a high-demand Los Angeles submarket.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5859 S Figueroa Subject | $565,000* List Price | 2 | 1 | 936 | $493 | - |
A 205 W Gage Avenue Sold | $450,000 | 2 | 1 | 988 | $455 | 0.5 mi |
B 350 W 59th Active | $555,000 List Price | 2 | 1 | 1,084 | $512 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1914 with no evidence of recent renovations, this property is explicitly marketed for ground-up redevelopment or a full remodel. The listing states it will not qualify for FHA financing, indicating significant safety or structural deficiencies, and focuses heavily on the LAC2 zoning and land value.
The property is situated in a highly desirable LAC2 zoning district, offering exceptional flexibility for multi-unit residential, mixed-use, or commercial development projects.
Featuring a generous 5,400 square foot lot, this site provides a substantial canvas for ground-up redevelopment or a major expansion in a high-demand Los Angeles submarket.
With a recent price reduction and motivated sellers, this property presents a high-value entry point for investors looking to capitalize on the area's growth and transit-oriented location.
Due to its current distressed condition, the property does not qualify for traditional FHA financing, limiting the buyer pool to cash investors or those with specialized construction loans.
Built in 1914 and requiring significant modernization, the existing structure likely demands a complete overhaul of major systems or a total demolition to realize its highest and best use.
Prime Development & Remodel Opportunity in Los Angeles! Discover an exceptional single-family residence on an approximately 5,400 sq ft lot, perfectly positioned for redevelopment in the highly desirable LAC2 (C2 Commercial) zoning district. This property offers tremendous potential for investors, developers, and visionary homeowners seeking to capitalize on the flexible zoning that supports a wide range of residential and commercial uses. Currently in need of significant upgrades and modernization, this home is ideal for a full remodel or ground-up redevelopment. It will not qualify for FHA financing, making it a perfect fit for cash buyers and experienced developers ready to act. The motivated sellers are eager to move quickly—don't miss this chance to transform this diamond in the rough into a high-value asset! Key Features & Highlights: Zoning: LAC2 – Excellent potential for multi-unit residential development, mixed-use, or commercial opportunities Lot Size: Approx. 5,400 square feet – Spacious canvas for expansion or new construction Ready: Immediate possession; perfect for your custom vision Location: Convenient access to Los Angeles amenities, transit, and vibrant neighborhoods Whether you're looking to remodel into a stunning single-family home, develop multi-family units, or explore commercial possibilities, this property delivers outstanding potential in a strong market. Cash offers and developer inquiries are strongly encouraged. Contact us today for more details and to schedule a private showing!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.0 |
| Baths | 1.0 | 2.0 |
| Square foot | 936 | 1,672 |
| Lot Size | 5,400 | 6,067 |
| Price | $565.0K | $1.37M |
| Price per sq ft | $604 | $801 |
| Built year | 1914 | 1939 |
| HOA | $0 | $348 |
| Days on market | 44 | 56 |
Jun 12, 2026
$565,000
$600,000
-6% Price Drop
Initial Listing
Jun 8, 2026
$600,000
Initial Listing