742 Schumacher Drive, Los Angeles, California 90048, Los Angeles, 90048 - 4 bed, 3 bath
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Los Angeles, California 90048
This Value-Add Development Opportunity is listed at $3,215,000, representing a premium acquisition in the historic Carthay Circle HPOZ. While the Fair Market Value is $2,958,978, the list price accounts for the rare 12,973 sqft Lot Size and LAR2 Zoning potential. The property carries a Condition Rating of 5, requiring a full-scale restoration of its 1928 Tudor details, including wood-beamed ceilings and leaded glass. Featuring a swimming pool and located within the Los Angeles Unified district, this is a high-utility Asset ideal for Developers or Preservationist Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 742 Schumacher Drive Subject | $3,198,000* List Price | 4 | 3 | 2,674 | $1,107 | - |
A 6119 Del Valle Drive Active | $2,375,000 List Price | 4 | 2 | 2,700 | $880 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1928 with 'original finishings,' this property requires substantial repairs and rehabilitation. The kitchen and bathrooms are severely outdated, as evidenced by the images showing peeling cabinets, old countertops, and vintage pink/peach tiles and fixtures, necessitating full renovation. The listing explicitly states it 'Needs updating and renovation' and 'extensive renovation required,' and is being sold 'AS-IS.' While the property retains original Tudor charm and wood flooring, these elements are worn and require significant restoration. The overall condition of critical living spaces would be very uncomfortable for modern living without major investment.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 12973, living area = 2674.
A rare, nearly one-third acre double lot (12,973 sqft) in a prime Los Angeles neighborhood, zoned LAR2, offering significant potential for expansion, an ADU, or even a duplex.
Features an original 1928 Tudor architecture with leaded glass, beautiful wood-beamed ceilings, wood flooring, and two wood-burning fireplaces, preserving its unique character.
The property 'needs updating and renovation' and features 'original finishings,' indicating a significant financial and time investment will be necessary to modernize.
Being sold 'AS-IS' means the buyer assumes full responsibility for all repairs and upgrades, with no seller contributions, potentially uncovering unforeseen issues.
Located within the Carthay Circle HPOZ, which may impose strict guidelines and limitations on exterior and potentially interior modifications, adding complexity and cost to renovation plans.
Massive double lot in the great neighborhood of Carthay Circle. Almost one-third of an acre. Original Tudor. Leaded glass throughout. Original finishings. Needs updating and renovation, but a rare find in this community. Land plus, plus, plus. Swimming Pool. Huge Backyard, possibly suitable for major expansion or guest unit. Beautiful wood-beamed ceilings and wood flooring. 2 wood-burning Fireplaces one in the Living Room and one in the Family Room. Outdoor brick barbecue. New Kitchen in the works. Formal Dining Room. Living Room. Family Room, 4 Bedrooms and 3 Bathrooms. There are no above-ground electrical wires or telephone poles in Carthay Circle. A little over 128 feet of frontage on Schumacher Drive per Public Records! (Buyer to verify.) Don't let this property slip by your buyers. Property is being sold AS-IS. Zoned LAR2 (Buyer to confirm.). Property is in Carthay Circle HPOZ,
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 53% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 2,674 | 2,152 | 64% |
| Lot Size | 12,973 | 6,102 | 98% |
| Price | $3.20M | $2.55M | 60% |
| Price per sq ft | $1.2K | $1.2K | 55% |
| Built year | 1928 | 1927 | 51% |
| HOA | $0 | $0 | 50% |
| Days on market | 194 | 134 | 70% |
Jun 10, 2026
$3,198,000
$3,215,000
-1% Price Drop
Initial Listing
Feb 28, 2026
$3,215,000
$3,190,000
+1% Price Increase
Initial Listing
Dec 4, 2025
$3,190,000
Initial Listing