645 E 82nd Street, Los Angeles, California 90001, Los Angeles, 90001 - 2 bed, 1 bath
ACTIVE$450,000
645 E 82nd Street, Los Angeles, California 90001
2Beds
1Bath
1,172Sqft
5,106Lot
Price Vs. Estimate
The estimated value ($314,585.595) is $135,414.405 (30%) lower than the list price ($450,000). This property may be overpriced.
Key pros and cons
Top Pros:
High Development Potential: The LAR2 zoning is a significant asset, allowing for the construction of a second dwelling unit and up to two ADUs, which creates substantial opportunities for multiple income streams or multi-generational living.
Top Cons:
Significant Age & Condition: Built in 1930, the property is nearly a century old, suggesting it likely requires substantial renovation, modernization, or repairs, which could entail considerable additional investment.
Compared to the nearby listings
Price:$450.0K vs avg $572.5K ($-122,500)12%
Size:1,172 sqft vs avg 1,026 sqft58%
Price/sqft:$384 vs avg $55319%
More Insights
Built in 1930 (95 years old).
Condition: Built in 1930 with no apparent major renovations, the property is nearly a century old. The listing explicitly markets it as an 'Incredible Investment Opportunity' and a 'blank canvas' for investors and developers, implying significant work is needed. The property analysis confirms it 'requires substantial renovation, modernization, or repairs.' The single image provided shows a severely neglected exterior with dilapidated awnings, worn stucco, an old roof, and an overgrown yard, indicating extensive deferred maintenance. While the property has development potential due to its zoning, the existing structure is in a state of severe disrepair, requiring substantial rehabilitation to be livable, aligning with the 'poor' condition criteria.
Year Built
1930
Close
-
List price
$450K
Original List price
$475K
Price/Sqft
$384
HOA
-
Days on market
-
Sold On
-
MLS number
MB25114641
Home ConditionPoor
Features
View-
About this home
Incredible Investment Opportunity – Zoned LAR2! Unlock the full potential of this rare gem in the heart of Los Angeles! Nestled on a highly desirable LAR2-zoned lot, this charming single-family home offers tremendous upside for investors, developers, and savvy homeowners alike. Whether you're looking to live in one unit and rent the others, or develop a high-yield multi-unit asset, this property is your blank canvas. The current zoning allows for the construction of a second dwelling unit and up to two ADUs (Accessory Dwelling Units) — opening the door to multiple income streams or multi-generational living. Imagine the possibilities: build out, add units, and transform this lot into a cash-flowing powerhouse. Opportunities like this rarely hit the market — especially in such a centrally located neighborhood.
Nearby schools
3/10
Mckinley Avenue Elementary School
Public,•K-6•0.3mi
3/10
South Park Elementary School
Public,•K-6•0.4mi
5/10
Russell Elementary School
Public,•K-6•0.7mi
3/10
Seventy-Fifth Street Elementary School
Public,•K-6•0.7mi
5/10
Wisdom Elementary School
Public,•K-6•0.7mi
2/10
Dr. Owen Lloyd Knox Elementary School
Public,•K-6•0.9mi
4/10
Sixty-Sixth Street Elementary School
Public,•K-6•1.1mi
4/10
Sixty-Eighth Street Elementary School
Public,•K-6•1.5mi
3/10
Sixty-First Street Elementary School
Public,•K-6•1.8mi
1/10
Charles Drew Middle School
Public,•6-8•0.9mi
2/10
Mary Mcleod Bethune Middle School
Public,•6-8•1.0mi
3/10
Thomas A. Edison Middle School
Public,•6-8•1.3mi
3/10
Los Angeles Academy Middle
Public,•6-8•1.8mi
3/10
John C. Fremont Senior High School
Public,•9-12•0.5mi
Price History
Date
Event
Price
09/13/24
Sold
$350,000
Condition Rating
Poor
Built in 1930 with no apparent major renovations, the property is nearly a century old. The listing explicitly markets it as an 'Incredible Investment Opportunity' and a 'blank canvas' for investors and developers, implying significant work is needed. The property analysis confirms it 'requires substantial renovation, modernization, or repairs.' The single image provided shows a severely neglected exterior with dilapidated awnings, worn stucco, an old roof, and an overgrown yard, indicating extensive deferred maintenance. While the property has development potential due to its zoning, the existing structure is in a state of severe disrepair, requiring substantial rehabilitation to be livable, aligning with the 'poor' condition criteria.
Pros & Cons
Pros
High Development Potential: The LAR2 zoning is a significant asset, allowing for the construction of a second dwelling unit and up to two ADUs, which creates substantial opportunities for multiple income streams or multi-generational living.
Strategic Investment Opportunity: Explicitly marketed as an 'Incredible Investment Opportunity' for investors and developers, highlighting its potential to be transformed into a 'cash-flowing powerhouse'.
Generous Lot Size: The 5,106 sqft lot provides ample space for potential expansion and the addition of multiple units, maximizing the benefits of the LAR2 zoning.
Central Los Angeles Location: Located in a 'centrally located neighborhood' within Los Angeles, offering good access to amenities and potentially minutes from Downtown LA, enhancing its appeal for future tenants or residents.
Recent Price Adjustment: A $25,000 price reduction from the original list price of $475,000 to $450,000 may attract buyers looking for a more competitive value proposition.
Cons
Significant Age & Condition: Built in 1930, the property is nearly a century old, suggesting it likely requires substantial renovation, modernization, or repairs, which could entail considerable additional investment.
Disparity in Valuation: The listing price of $450,000 is significantly higher than the estimated property value of $314,585, potentially raising questions about market value or financing challenges for traditional buyers.
Modest Existing Dwelling: The current 2-bedroom, 1-bathroom, 1172 sqft home is relatively small and may not meet the needs of buyers seeking a larger, move-in ready family residence without immediate plans for expansion or redevelopment.