
Los Angeles, California 90003
This property presents a High-Potential Investment Opportunity with a List Price of $1,549,900—positioned above the $1,494,461 Fair Market Value. While the property requires significant capital due to its Condition Rating of 5, the 6,000-square-foot corner lot offers massive upside through TOC Tier 1 and AB 1287 incentives, potentially allowing for an 8-unit development. This asset is a strategic play for Buy-and-Hold Investors and Developers focused on long-term density expansion and transit-oriented growth in South Los Angeles.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 9019 S San Pedro Subject | $1,549,900* List Price | 0 | 0 | 3,750 | $399 | - |
A 8410 S Grand Active | $1,099,997 List Price | 0 | 0 | 2,780 | $396 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1921, this property is over 100 years old with no evidence of modern renovations. The kitchen is in a state of severe neglect with missing cabinet doors, exposed plumbing, and dated finishes. The listing is explicitly marketed as a 'value-add redevelopment' opportunity, indicating the structure requires a total rehab or is a candidate for demolition to maximize land value.
The property is eligible for TOC Tier 1 and AB 1287 Stacked Density Bonus Law, offering a rare opportunity to potentially double the unit count to an 8-unit, 4-story residential building.
Positioned on a 6,000+ square foot corner lot with alley access, the site provides superior flexibility for architectural design, parking ingress/egress, and construction logistics.
Located less than two blocks from the Manchester Avenue transit corridor, the property qualifies for parking reductions under AB 2097, significantly lowering development costs and maximizing buildable area.
The existing quadruplex is subject to the Los Angeles Rent Stabilization Ordinance (RSO), which may complicate tenant relocation and increase the timeline and cost for redevelopment.
At a list price of nearly $2 million for a 1921-built structure, the value is heavily weighted toward future potential rather than current cash flow, requiring substantial additional capital for realization.
Opportunity for value-add redevelopment in South Los Angeles. Located at 9019 South San Pedro Street, this 6,000-square-foot corner lot is improved with a 4-unit residential building currently subject to the Los Angeles Rent Stabilization Ordinance (RSO). Positioned on a corner lot with access from both San Pedro Street and the adjacent alley, the property offers site access that may provide flexibility for future development, parking design, and building layout. Developers may wish to explore opportunities under California’s AB 1287 Stacked Density Bonus Law and the City of Los Angeles Transit Oriented Communities (TOC) Tier 1 program. Located less than two blocks from the transit corridor along Manchester Avenue, the property may be eligible for increased residential density, potentially allowing up to 8 units in a 4-story building through applicable density bonus incentives, as well as potential parking reductions under AB 2097, subject to City approval and applicable regulations.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.6 |
| Baths | 0.0 | 3.0 |
| Square foot | 3,750 | 2,187.451 |
| Lot Size | 6,105 | 5,841.385 |
| Price | $1.55M | $841.5K |
| Price per sq ft | $413 | $385 |
| Built year | 1921 | 1928 |
| HOA | $0 | $0 |
| Days on market | 62 | 85 |
Aug 1, 2026
$1,549,900
$1,999,900
-23% Price Drop
Initial Listing
Jul 9, 2026
$1,999,900
Initial Listing
Nov 2, 2001
$230,000
Public Record