700 W 53rd, Los Angeles, California 90037, Los Angeles, 90037 - 0 bed, 0 bath
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Los Angeles, California 90037
This Value-Add Multifamily Asset is listed at $850,000, reflecting its significant redevelopment potential despite a $561,616 Fair Market Value. Carrying a Condition Rating of 6 and a Substandard Order, the property requires comprehensive legalization to capture projected market rents of $10,000 per month. The 3,000 sq ft structure will be delivered vacant on a 5,440 sq ft lot near Fifty-Second Street Elementary, John Muir Middle, and Manual Arts High. This high-upside project is restricted to cash or hard money, making it an ideal acquisition for Buy-and-Hold Investors or Contractors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 700 W 53rd Subject | $850,000* List Price | 0 | 0 | 3,000 | $187 | - |
A 725 727 W 50th Street Sold | $625,000 | 0 | 0 | 1,916 | $326 | 0.3 mi |
B 873 W Vernon Active Under Contract | $649,000 List Price | 0 | 0 | 2,952 | $220 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1914 with no recorded renovations, the property is over 110 years old and subject to a City of Los Angeles Substandard Order. The listing explicitly mentions redevelopment potential, requires cash/hard money financing, and describes the structure as a fixer that needs to be legalized, indicating it is currently unlivable and valued primarily for the land.
The property offers a significant value-add opportunity with projected market rents reaching $9,800 to $10,000 per month, providing an excellent cap rate for investors once stabilized.
The building will be delivered empty at the close of escrow, a major advantage in Los Angeles that allows for immediate renovation or redevelopment without the delays of tenant relocation.
Located in a developing neighborhood, the site allows for a complete remodel or the construction of a new building, supported by a generous 5,440 square foot lot.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 3000, other record living area = 1803.
The property is under a City of Los Angeles Substandard Order and requires legalization, indicating significant code violations and the need for extensive city-approved repairs.
Due to its 'fixer' status and substandard condition, the property is restricted to cash or hard money financing only, excluding buyers who require traditional mortgage products.
Property located mid-block on 53rd Street in Los Angeles, surrounded by recent and ongoing neighborhood development. The site offers potential for redevelopment and is expected to be delivered with no tenants at the close of escrow. Requires cash or hard money financing only. Its a fixer. Buyer to verify condition, square footage, permits, and any potential uses with the City of Los Angeles. Property is being sold as-is. Property can be redone with city approval or be replaced with new building. There is a City of Los Angeles Substandard Order - Supplemental issued on the property. The tenants will be leaving and the building will be delivered empty. There are four units and building is 3 thousand square feet. Needs to be legalized with the city. Markets rents can be $9800.00 to $10,000.00. There a huge upside to the property. Hurry won't last long. Owner will do a three month escrow to allow for plan approval. WILL BE DELIVERED EMPTY. New buyers to verify square footage.
No exterior & parking available.
Grades K-5 • 0.2 mi
Grades K-2 • 0.6 mi
Grades K-5 • 0.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 3,000 | 1,958 | 72% |
| Lot Size | 5,440 | 5,408.5 | 50% |
| Price | $850.0K | $897.5K | 44% |
| Price per sq ft | $283 | $376 | 11% |
| Built year | 1914 | 1923 | 28% |
| HOA | $0 | $0 | 50% |
| Days on market | 7 | 202 | 6% |
Apr 27, 2026
$850,000
Initial Listing
Jul 26, 2024
$500,000
Public Record
Jun 4, 2018
$410,000
Public Record
Jun 12, 2017
$350,000
Public Record
Sep 22, 2010
$150,000
Public Record
Nov 16, 2000
$160,000
Public Record