947 81, Los Angeles, California 90044, Los Angeles, 90044 - 0 bed, 0 bath
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Los Angeles, California 90044
This LAR3 Zoned Development Asset represents a High-Potential Investment Opportunity, listed at $998,000. While the $716,294 Fair Market Value reflects the current Condition Rating of 5, the primary value is anchored in the 9,458 sqft lot and approved plans for 7 units. Strategically located near SoFi Stadium and USC, the proposal includes six 3-bedroom units designed for maximum ROI. This Value-Add project is an ideal acquisition for Real Estate Developers or Institutional Investors seeking to capitalize on the high-demand Los Angeles rental market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 947 81 Subject | $998,000* List Price | 0 | 0 | 1,502 | $477 | - |
A 1155 W 104th Active | $890,000 List Price | 0 | 0 | 1,807 | $493 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
The property was built in 1923, indicating significant age. While the listing mentions development potential with approved plans for multiple units, the existing structure shows signs of deferred maintenance and outdated finishes. The kitchen features older cabinetry and tilework, and the bathroom appears basic with an older vanity and tub surround. The overall condition of the current structures suggests substantial repairs and rehabilitation would be needed if not demolished for redevelopment. The value is primarily in the land and development opportunity, not the current condition of the buildings.
Zoned LAR3 with approved plans for 7 units (6 units of 3 bed/2 bath with 2-car garages, and 1 unit of 2 bed/1 bath), offering significant upside for investors and builders.
Strategically located within a 4-mile radius of SoFi Stadium and USC, and 5 miles from Crypto Arena, ensuring high demand and rental potential.
The back house is delivered vacant, allowing for immediate rental income or development flexibility.
Built in 1923, the existing structure may require significant renovation or updates to meet modern standards.
While plans are approved, the actual construction and permitting process for 7 units will require substantial time, capital, and expertise.
A 9458 sqft lot for 7 units might be on the smaller side, potentially leading to challenges with parking, common areas, or future tenant satisfaction depending on the final build-out.
Calling for all Investors and Builders, value in the land Zone LAR3, the proposal plans are for 7 units which 6 unit has 2 stories 3 bedrooms and 2 bathrooms with 2 car garages and a unit has 2 bedrooms and 1 bathroom. Back house is delivered VACANT one of the best things in Los Angeles. Furthermore, Sofi Stadium and the USC campus are both within a 4-mile radius, and the Crypto Arena is a mere 5 miles away. A perfect option for astute investors seeking to seize opportunities in the thriving Los Angeles rental market. The property's exceptional location further enhances its attractiveness, offering convenient access to major roads, highways, and public transportation, making it a highly sought-after spot for potential tenants. Check it out and do not miss this opportunity to own it. Thank You.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 1,502 | 2,004 | 29% |
| Lot Size | 9,458 | 6,078 | 97% |
| Price | $998.0K | $850.0K | 74% |
| Price per sq ft | $664 | $421 | 87% |
| Built year | 1923 | 1923 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 389 | 191 | 94% |
Feb 10, 2026
$998,000
Initial Listing
Mar 29, 2025
$1,199,000
Initial Listing