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660 S Eastman Avenue, Los Angeles, California 90023, Los Angeles, 90023 - bed, bath

660 S Eastman Avenue, Los Angeles, California 90023 home-pic-0
ACTIVE UNDER CONTRACT$640,000
660 S Eastman Avenue, Los Angeles, California 90023
0Bed
0Bath
3,368Sqft
7,216Lot
Year Built
1909
Close
-
List price
$640K
Original List price
$640K
Price/Sqft
$190
HOA
-
Days on market
-
Sold On
-
MLS number
TR25029782
Home ConditionTear down
Features
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $640.0K(50th), sqft - 3368(85th), beds - undefined(50th), baths - undefined(50th).

*** Due to multiple offers. We're holding off. Fixer-Upper Triplex – Prime Redevelopment Opportunity! This triplex (featuring two separate buildings) is an investor’s dream, offered AS-IS with no warranties from the trustee regarding pre-existing conditions. The true potential lies in redevelopment—tear down the existing structures and build new to maximize returns. With rising demand for modern, high-density housing, this is a golden opportunity to create a high-value asset. The listing broker exclusively represents the seller and reserves the right not to represent the buyer. Buyers are strongly advised to retain their own representation. Bring your vision and transform this property into a lucrative investment. Final acceptance is subject to family attorney's reviews.

Condition Rating
Tear down
The property, built in 1909, is explicitly marketed as a 'Fixer-Upper' and 'Prime Redevelopment Opportunity' with the recommendation to 'tear down the existing structures and build new.' The description states it's offered 'AS-IS with no warranties,' indicating the existing structures are beyond repair and the value is solely in the land for redevelopment. This perfectly aligns with the 'tear-down' criteria.
Pros & Cons

Pros

Prime Redevelopment Opportunity: Explicitly marketed as a 'Prime Redevelopment Opportunity' to 'tear down the existing structures and build new to maximize returns,' indicating significant upside potential for investors.
High-Density Housing Potential: The property is positioned to capitalize on 'rising demand for modern, high-density housing,' suggesting a strong market for new multi-unit development.
Existing Triplex Zoning: Currently a triplex with two separate buildings, implying favorable zoning for multi-unit residential development, which is valuable in urban markets.
Substantial Lot Size: A generous lot size of 7216 sqft provides ample space for a significant new construction project, allowing for potentially larger or more units.
Desirable Urban Location: Located in Los Angeles, specifically Boyle Heights (MLS Area BOYH), an established urban area with ongoing demand for housing and accessibility.

Cons

As-Is Condition & No Warranties: The property is a 'Fixer-Upper' offered 'AS-IS with no warranties from the trustee,' placing all responsibility and financial risk for pre-existing conditions on the buyer.
Requires Demolition and New Construction: The core strategy involves tearing down the existing structures and building new, which necessitates substantial upfront capital investment, permits, and a lengthy development timeline.
Advanced Age of Existing Structures: Built in 1909, the existing structures are very old, reinforcing the need for demolition rather than renovation and potentially incurring higher demolition costs due to age-related materials.

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