741 N Harvard Boulevard, Los Angeles, California 90029, Los Angeles, 90029 - 4 bed, 2 bath
ACTIVE$1,350,000
741 N Harvard Boulevard, Los Angeles, California 90029
4Beds
2Baths
1,928Sqft
7,280Lot
Price Vs. Estimate
The estimated value ($1,350,000) is $0 (0%) lower than the list price ($1,350,000). This property may be overpriced.
Key pros and cons
Top Pros:
Development Opportunity: The property is highlighted as a 'Prime Development' site in Melrose Hill, offering potential for developing multiple units or up to nine townhomes, appealing strongly to investors and developers.
Top Cons:
Historic Property Age: Built in 1921, the property's age suggests potential for outdated infrastructure, systems, and higher maintenance or renovation costs compared to newer constructions.
Compared to the nearby listings
Price:$1.35M vs avg $990.0K (+$360,000)71%
Size:1,928 sqft vs avg 1,600 sqft71%
Price/sqft:$700 vs avg $67062%
More Insights
Built in 1921 (104 years old).
Condition: Built in 1921, this property shows significant age and deferred maintenance. The kitchen features outdated white tile countertops, old white appliances, and dated linoleum flooring, indicating a renovation likely 30-50 years ago or older. Visible ceiling damage in one of the rooms suggests substantial repairs are needed. While the property is functional, its systems and aesthetics are severely outdated, requiring extensive rehabilitation to meet current living standards. The description's emphasis on 'development potential' further supports that the existing structure is not the primary value.
Year Built
1921
Close
-
List price
$1.35M
Original List price
$1.35M
Price/Sqft
$700
HOA
-
Days on market
-
Sold On
-
MLS number
25596443
Home ConditionPoor
Features
Good View:
Patio
View
About this home
Prime Development in Melrose Hill! The property will be delivered Vacant! Developers and end-users unlock the potential of this well-maintained duplex in East Hollywood. Explore different options. Buyer to verify: Develop units or nine townhomes or live in one unit and rent out the other. Nestled in the historical Melrose Hill, it's a hot spot for new construction. Proximity to Melrose Blvd, Paramount Studios, and more ensures high demand. Join the wave of growth in LA's dynamic heart; your canvas awaits! Units will be delivered vacant. The Main house has laundry. Back unit: No laundry. Ample Parking. The main house has a small garage-type storage in front of the home near the yard.
Nearby schools
5/10
Kingsley Elementary School
Public,•K-5•0.5mi
3/10
Ramona Elementary School
Public,•K-6•0.5mi
3/10
Harvard Elementary School
Public,•K-5•0.6mi
4/10
Alexandria Avenue Elementary School
Public,•K-5•0.6mi
6/10
Van Ness Avenue Elementary School
Public,•K-5•0.7mi
6/10
Dayton Heights Elementary School
Public,•K-5•0.9mi
5/10
Cahuenga Elementary School
Public,•K-5•1.0mi
4/10
Lockwood Avenue Elementary School
Public,•K-6•1.0mi
6/10
Charles H. Kim Elementary School
Public,•K-5•1.0mi
4/10
Frank Del Olmo Elementary School
Public,•K-6•1.0mi
/10
Lexington Avenue Primary Center
Public,•K-2•1.1mi
4/10
Grant Elementary School
Public,•K-6•1.2mi
7/10
Dr. Sammy Lee Medical And Health Science Magnet Elementary
Public,•K-5•1.2mi
7/10
Los Feliz STEMM Magnet
Public,•K-6•1.4mi
3/10
Joseph Le Conte Middle School
Public,•6-8•1.0mi
5/10
Virgil Middle School
Public,•6-8•1.0mi
6/10
Thomas Starr King Middle School
Public,•6-8•1.6mi
4/10
Young Oak Kim Academy
Public,•6-8•1.7mi
7/10
John Burroughs Middle School
Public,•6-8•2.4mi
4/10
Helen Bernstein High School
Public,•9-12•0.9mi
3/10
Rfk Community Schools-Ambassador-Global Leadership
Public,•6-12•1.8mi
4/10
Rfk Community Schools-Los Angeles High School Of The Arts
Public,•9-12•1.8mi
5/10
Rfk Community Schools- For The Visual Arts And Humanities
Public,•9-12•1.8mi
6/10
Hollywood Senior High School
Public,•9-12•2.2mi
8/10
John Marshall Senior High School
Public,•9-12•2.2mi
3/10
Belmont Senior High School
Public,•9-12•2.9mi
7/10
Fairfax Senior High School
Public,•9-12•3.2mi
Condition Rating
Poor
Built in 1921, this property shows significant age and deferred maintenance. The kitchen features outdated white tile countertops, old white appliances, and dated linoleum flooring, indicating a renovation likely 30-50 years ago or older. Visible ceiling damage in one of the rooms suggests substantial repairs are needed. While the property is functional, its systems and aesthetics are severely outdated, requiring extensive rehabilitation to meet current living standards. The description's emphasis on 'development potential' further supports that the existing structure is not the primary value.
Pros & Cons
Pros
Development Opportunity: The property is highlighted as a 'Prime Development' site in Melrose Hill, offering potential for developing multiple units or up to nine townhomes, appealing strongly to investors and developers.
Vacant Possession: The property will be delivered vacant, eliminating the complexities and delays associated with tenant relocation for immediate development or owner-occupancy.
Strategic Location: Nestled in the historical Melrose Hill, it's identified as a 'hot spot for new construction' with proximity to Melrose Blvd and Paramount Studios, ensuring high demand and growth potential.
Income-Generating Duplex: As a well-maintained duplex, it offers flexibility for an end-user to live in one unit and rent out the other, providing immediate rental income potential.
Ample Parking: The property offers ample parking, a significant advantage in a dense urban area like Los Angeles, enhancing its appeal for both residents and potential tenants.
Cons
Historic Property Age: Built in 1921, the property's age suggests potential for outdated infrastructure, systems, and higher maintenance or renovation costs compared to newer constructions.
Incomplete Amenities (Back Unit): The back unit lacks laundry facilities, which is a notable inconvenience and could impact its rental desirability or tenant satisfaction.
Complex Development Verification: The listing explicitly states 'Buyer to verify' development options (units or nine townhomes), indicating that significant due diligence regarding zoning, permits, and feasibility is required, adding complexity and potential risk for buyers.