700 W 53rd, Los Angeles, California 90037, Los Angeles, 90037 - bed, bath
ACTIVE$850,000$3,000/sqft
700 W 53rd, Los Angeles, California 90037
0Bed
0Bath
3,000Sqft
5,440Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Redevelopment Potential: The property is explicitly noted to offer potential for redevelopment, making it attractive to investors or developers looking to capitalize on the evolving neighborhood.
Top Cons:
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 3000, other record living area = 1803.
Compared to the nearby listings
Price:$850.0K vs avg $945.0K ($-95,000)40%
Size:3,000 sqft vs avg 2,548 sqft65%
Price/sqft:$283 vs avg $32430%
More Insights
Built in 1914 (112 years old).
Condition: Built in 1914, this property is over a century old and shows significant signs of neglect and deferred maintenance in the images. The listing explicitly states 'potential for redevelopment' and is being sold 'as-is,' requiring the buyer to verify all conditions and permits. There are no indications of major renovations in the past 50 years. The overall condition, coupled with the listing's emphasis on land value for redevelopment, suggests the existing structure is likely beyond economical repair and its value is primarily in the land.
Year Built
1914
Close
-
List price
$850K
Original List price
$850K
Price/Sqft
$283
HOA
-
Days on market
-
Sold On
-
MLS number
SR26010392
Home ConditionTear down
Features
Patio
View-
About this home
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. Buyer to verify condition, square footage, permits, and any potential uses with the City of Los Angeles. Property is being sold as-is.
B
Brian Tanenbaum
Listing Agent
Nearby schools
3/10
Fifty-Second Street Elementary School
Public,•K-5•0.2mi
/10
Dr. James Edward Jones Primary Center
Public,•K-2•0.6mi
2/10
Marguerite Poindexter Lamotte Elementary
Public,•K-5•0.6mi
2/10
Main Street Elementary School
Public,•K-5•0.7mi
5/10
West Vernon Avenue Elementary School
Public,•K-5•0.8mi
3/10
Normandie Avenue Elementary School
Public,•K-5•0.9mi
5/10
Menlo Avenue Elementary School
Public,•K-5•1.0mi
2/10
Western Avenue Elementary School
Public,•K-5•1.3mi
3/10
Trinity Street Elementary School
Public,•K-5•1.5mi
/10
Maple Primary Center
Public,•K-1•1.7mi
2/10
Martin Luther King Jr. Elementary School
Public,•K-5•1.7mi
3/10
Angeles Mesa Elementary School
Public,•K-5•2.1mi
2/10
Forty-Second Street Elementary School
Public,•K-5•2.2mi
2/10
Tom Bradley Global Awareness Magnet School
Public,•K-5•2.6mi
3/10
Sixth Avenue Elementary School
Public,•K-5•3.1mi
2/10
John Muir Middle School
Public,•6-8•0.6mi
3/10
Los Angeles Academy Middle
Public,•6-8•1.3mi
2/10
Barack Obama Global Preparation Academy
Public,•6-8•1.5mi
3/10
William Jefferson Clinton Middle School
Public,•6-8•1.8mi
1/10
Horace Mann Junior High School
Public,•6-8•1.9mi
2/10
Audubon Middle School
Public,•6-8•2.7mi
2/10
Augustus F. Hawkins High A Critical Design And Gaming
Public,•9-12•0.6mi
3/10
Manual Arts Senior High School
Public,•9-12•1.0mi
3/10
Nava College Preparatory Academy
Public,•9-12•2.2mi
1/10
Crenshaw Science, Technology, Engineering, Math And Medicine Magnet
Public,•9-12•2.5mi
5/10
Santee Education Complex
Public,•9-12•2.8mi
Price History
Date
Event
Price
11/16/00
Sold
$160,000
07/26/24
Sold
$500,000
06/04/18
Sold
$410,000
06/12/17
Sold
$350,000
09/22/10
Sold
$150,000
Condition Rating
Tear down
Built in 1914, this property is over a century old and shows significant signs of neglect and deferred maintenance in the images. The listing explicitly states 'potential for redevelopment' and is being sold 'as-is,' requiring the buyer to verify all conditions and permits. There are no indications of major renovations in the past 50 years. The overall condition, coupled with the listing's emphasis on land value for redevelopment, suggests the existing structure is likely beyond economical repair and its value is primarily in the land.
Pros & Cons
Pros
Redevelopment Potential: The property is explicitly noted to offer potential for redevelopment, making it attractive to investors or developers looking to capitalize on the evolving neighborhood.
Ongoing Neighborhood Development: Located in an area surrounded by recent and ongoing development, suggesting a growing and improving market with potential for future appreciation.
Residential Income Property: As a duplex, this property offers the advantage of generating rental income, which can appeal to investors or owner-occupants seeking to offset housing costs.
Delivered Vacant: The property is expected to be delivered with no tenants, simplifying the process for immediate redevelopment or owner-occupancy without the complexities of tenant relocation.
Generous Lot Size: With a lot size of 5440 sqft, there is ample space for potential expansion, landscaping, or redevelopment projects in a dense urban environment like Los Angeles.
Cons
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 3000, other record living area = 1803.
As-Is Condition: The property is being sold 'as-is,' indicating that the seller will not make repairs, which could necessitate significant immediate investment from the buyer for necessary upgrades or renovations.
Historic Property Age: Built in 1914, the property is over a century old, likely requiring extensive modernization of systems (plumbing, electrical, HVAC) and structural components, leading to higher renovation costs.
Extensive Buyer Due Diligence Required: Buyers are explicitly advised to verify condition, square footage, permits, and potential uses, placing a substantial burden and risk on them to uncover any hidden issues or regulatory complexities.