869 Irolo Street, Los Angeles, California 90005, Los Angeles, 90005 - 4 bed, 2 bath
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Los Angeles, California 90005
This property presents a High-Potential Investment Opportunity with a List Price of $1,999,000—positioned well above the $1,749,438 Fair Market Value by -14%. Featuring LAR4-2 Zoning on a 6,674 sq. ft. corner lot, this asset offers significant density potential in the booming Koreatown district. Given the Condition Rating of 6, the structure is best suited for redevelopment rather than renovation. This is a strategic acquisition for Multi-Family Developers or Commercial Investors seeking to capitalize on high-density urban growth near major transit hubs.
Property is land value only, full reconstruction required.
Built in 1913 and marketed as a 'Developer's special' in 'As is' condition, the property is being sold for land value and its LAR4-2 zoning potential. With no mentioned renovations in over 50 years and a focus on redevelopment, the structure is likely unlivable or obsolete.
The property is zoned LAR4-2 on a corner lot, providing exceptional potential for high-density multi-unit residential development in a high-demand urban core.
Situated in the booming Koreatown district near Wilshire Boulevard and Metro transit, the site offers superior accessibility and proximity to major commercial and transit hubs.
The 50' x 135' corner lot offers a substantial 6,674 square foot footprint, providing excellent visibility and architectural flexibility for new construction projects.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6674, other record lot size in square feet = 6739.
Marketed as a 'Developer's Special' in 'as-is' condition, the 1913-built structure likely requires a complete teardown or a massive capital injection for structural repairs.
The nearly $2 million list price represents a high acquisition cost for a fixer-upper, which may tighten profit margins for developers considering the current interest rate environment.
Developer's special. As is condition, Price is negociale IMMEDIATE SELL!Huge house (over 3,200 sq. ft) on Corner Lot zoned LAR4-2, Lot size 50' x 135' in Booming Korea Towndistrict and desirable Neighborhood. Close to Wilshire and Metro.Many developments in the vicinity
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 3.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 3,214 | 1,672 |
| Lot Size | 6,674 | 6,067 |
| Price | $2.00M | $1.37M |
| Price per sq ft | $622 | $801 |
| Built year | 1913 | 1939 |
| HOA | $0 | $348 |
| Days on market | 15 | 56 |
Jul 8, 2026
$1,999,000
Initial Listing
Jul 7, 2026
$2,000,000
Initial Listing