
Los Angeles, California 90034
This property presents a High-Potential Investment Opportunity with a List Price of $1,499,000—positioned well above the $1,292,496 Fair Market Value by -15%. Featuring a Fair Condition Rating (1938 build), the asset offers significant value-add potential through the renovation of its main residence, detached ADU, and Jr. ADU. Its prime Westside location near Silicon Beach provides strong rental demand. This is a strategic acquisition ideal for Buy-and-Hold Investors or Contractors seeking to execute a comprehensive repositioning strategy in a high-growth corridor.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 8511 Melvil Street Subject | $1,499,000* List Price | 3 | 2 | 2,248 | $575 | - |
A 2843 S Holt Avenue Sold | $1,515,000 | 3 | 3 | 1,885 | $804 | 0.3 mi |
B 8920 Cadillac Avenue Sold | $1,662,500 | 4 | 4 | 2,304 | $722 | 0.7 mi |
C 5819 Ernest Avenue Sold | $1,750,000 | 5 | 3 | 2,958 | $592 | 0.4 mi |
D 2201 Hillsboro Avenue Sold | $1,945,000 | 4 | 4 | 2,768 | $703 | 0.9 mi |
E 8946 Olin Street Sold | $1,287,000 | 3 | 2 | 1,509 | $853 | 0.6 mi |
F 3130 Hutchison Avenue Active | $1,650,000 List Price | 4 | 3 | 2,239 | $737 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1938 with no evidence of recent renovations; the bathroom and interior finishes are severely dated (>30 years), and the listing description explicitly states the property needs to be reimagined and renovated.
The unique configuration of a main residence plus both a detached ADU and an attached Jr. ADU offers exceptional flexibility for rental income, multi-generational living, or a private compound.
Ideally situated near Culver City and the Silicon Beach corridor, the property provides high-demand access to major tech hubs, premier dining, and high-growth employment centers.
Delivered 100% vacant at the close of escrow, the property allows investors or owner-users to begin renovations and repositioning immediately without the complications of tenant relocation.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2248, other record living area = 1227.
The property was recently sold within the past year on 2026-06-25. The sold price is $1,100,000.00.
Built in 1938 and marketed as a 'reimagine' opportunity, the property likely requires substantial capital expenditure to modernize the structures and systems to current market standards.
Unlock the potential of this unique Westside property, offering a rare opportunity to reimagine, renovate, or create a private single-family compound tailored to your vision. The property features a vacant main residence, a detached structure configured as an ADU, and an attached structure configured as a Jr. ADU (see Agent Remarks), offering flexibility for investors, developers, and owner-users seeking rental income, multigenerational living, or a customized residential setting. Delivered 100% vacant at the close of escrow, the property allows the next owner to begin renovations, repositioning, or occupancy immediately and execute their vision from day one. Ideally located near Culver City, Playa Vista, Marina del Rey, and Venice, the property offers convenient access to premier dining, shopping, entertainment, major employment centers, and the vibrant Silicon Beach corridor. With multiple existing living spaces and significant potential for improvement and repositioning, this property presents a compelling opportunity to create value in one of the Westside's most desirable locations. Buyer to verify all permits, square footage, zoning, and allowable uses with the appropriate governmental agencies.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 2,248 | 1,664.159 |
| Lot Size | 5,005 | 6,066.556 |
| Price | $1.50M | $1.35M |
| Price per sq ft | $667 | $806 |
| Built year | 1938 | 1939 |
| HOA | $0 | $278 |
| Days on market | 9 | 55 |
Aug 31, 2026
$1,499,000
Initial Listing
Jun 25, 2026
$1,100,000
Public Record
Feb 2, 2005
$630,000
Public Record
Dec 21, 1994
$102,000
Public Record