811 S Vermont, Los Angeles, California 90005, Los Angeles, 90005 - bed, bath
ACTIVE$1,550,000
811 S Vermont, Los Angeles, California 90005
0Bed
0Bath
4,676Sqft
7,241Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Prime Redevelopment Location: Situated in Prime Koreatown on busy S Vermont Ave, offering excellent visibility, frontage, and proximity to transit, retail, restaurants, and major employment hubs, making it highly desirable for multifamily redevelopment.
Top Cons:
Uninhabitable Condition & Teardown Requirement: The existing building is uninhabitable and requires a full teardown, necessitating substantial upfront capital investment for demolition and new construction.
Compared to the nearby listings
Compared against 0 nearby listings
More Insights
Built in 1914 (111 years old).
Condition: The property was built in 1914, well over 50 years ago. The listing description explicitly states that the existing building is 'uninhabitable and ideal for a full teardown, complete rebuild.' The provided exterior images show an aged structure consistent with a property that has not undergone major renovations in decades. There are no interior images, which further supports the uninhabitable claim. The property's value is clearly based on the land and its potential for redevelopment, aligning perfectly with the 'tear-down' criteria.
Year Built
1914
Close
-
List price
$1.55M
Original List price
$1.55M
Price/Sqft
$331
HOA
-
Days on market
-
Sold On
-
MLS number
WS25275025
Home ConditionTear down
Features
View-
About this home
Excellent vacant 4-unit development opportunity in the Prime Koreatown. The existing building is uninhabitable and ideal for a full teardown, complete rebuild. The property includes a spacious parking area with space for up to 11 cars, an advantage in this dense corridor. Located on busy S Vermont Ave, the site offers great visibility, frontage, and is well-positioned for multifamily redevelopment. Close to transit, retail, restaurants, and major employment hubs. Ideal for developers and investors looking for a rebuild project.
Price History
Date
Event
Price
04/26/23
Sold
$1,950,000
Condition Rating
Tear down
The property was built in 1914, well over 50 years ago. The listing description explicitly states that the existing building is 'uninhabitable and ideal for a full teardown, complete rebuild.' The provided exterior images show an aged structure consistent with a property that has not undergone major renovations in decades. There are no interior images, which further supports the uninhabitable claim. The property's value is clearly based on the land and its potential for redevelopment, aligning perfectly with the 'tear-down' criteria.
Pros & Cons
Pros
Prime Redevelopment Location: Situated in Prime Koreatown on busy S Vermont Ave, offering excellent visibility, frontage, and proximity to transit, retail, restaurants, and major employment hubs, making it highly desirable for multifamily redevelopment.
Significant Development Potential: An excellent vacant 4-unit development opportunity, ideal for a full teardown and complete rebuild, perfectly positioned for investors and developers seeking a ground-up project.
Ample Parking: Includes a spacious parking area with space for up to 11 cars, a significant advantage in a dense urban corridor like Koreatown where parking is often scarce.
High Visibility & Frontage: The property's location on a busy avenue provides great visibility and frontage, which can be beneficial for future commercial or mixed-use components, or simply enhancing the appeal of a residential development.
Targeted Investor Appeal: Clearly marketed as ideal for developers and investors, streamlining the sales process by attracting the right buyer profile for a rebuild project.
Cons
Uninhabitable Condition & Teardown Requirement: The existing building is uninhabitable and requires a full teardown, necessitating substantial upfront capital investment for demolition and new construction.
No Immediate Income Generation: As a vacant and uninhabitable property requiring a complete rebuild, there will be no rental income generated until the redevelopment project is completed, impacting short-term cash flow.
Project Complexity & Timeline: A full teardown and rebuild project involves significant complexity, including permitting, demolition, and new construction, which can lead to extended timelines and potential delays.