811 S Vermont, Los Angeles, California 90005, Los Angeles, 90005 - bed, bath
ACTIVE$1,750,000$4,676/sqft
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 Koreatown Location: Strategically located on busy S Vermont Ave in Prime Koreatown, offering excellent visibility and proximity to transit, retail, restaurants, and major employment hubs in a high-demand urban area.
Top Cons:
Uninhabitable Existing Structure: The current building is uninhabitable, necessitating a complete demolition and rebuild, which adds significant initial costs and extends project timelines.
Compared to the nearby listings
Compared against 0 nearby listings
More Insights
Built in 1914 (112 years old).
Condition: The listing explicitly states the existing building is 'uninhabitable' and 'ideal for a full teardown, complete rebuild.' Built in 1914, the property is well over 50 years old, and its current condition indicates it is unlivable and beyond repair, with value based solely on the land for redevelopment.
Year Built
1914
Close
-
List price
$1.75M
Original List price
$1.75M
Price/Sqft
$374
HOA
-
Days on market
-
Sold On
-
MLS number
WS26007807
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.
J
JOY CHIOU
Listing Agent
Price History
Date
Event
Price
04/26/23
Sold
$1,950,000
Condition Rating
Tear down
The listing explicitly states the existing building is 'uninhabitable' and 'ideal for a full teardown, complete rebuild.' Built in 1914, the property is well over 50 years old, and its current condition indicates it is unlivable and beyond repair, with value based solely on the land for redevelopment.
Pros & Cons
Pros
Prime Koreatown Location: Strategically located on busy S Vermont Ave in Prime Koreatown, offering excellent visibility and proximity to transit, retail, restaurants, and major employment hubs in a high-demand urban area.
Significant Redevelopment Opportunity: Presents an ideal opportunity for a full teardown and complete rebuild, perfectly positioned for multifamily redevelopment to capitalize on the strong demand in the area.
Ample On-Site Parking: Includes a spacious parking area with capacity for up to 11 cars, a substantial and highly valuable asset in a dense urban environment like Koreatown.
High Visibility & Frontage: Situated on a busy thoroughfare, ensuring excellent visibility and frontage, which is advantageous for future residential or mixed-use development.
Vacant Property Status: The property is vacant, streamlining the development process by eliminating tenant relocation complexities and allowing for immediate project commencement.
Cons
Uninhabitable Existing Structure: The current building is uninhabitable, necessitating a complete demolition and rebuild, which adds significant initial costs and extends project timelines.
Substantial Capital Investment Required: A full teardown and ground-up rebuild project demands considerable financial resources for construction, permits, and associated development expenses.
Development Project Complexity: Requires navigating the complexities of a ground-up development, including extensive permitting, construction management, and potential unforeseen challenges inherent in large-scale projects.