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947 81, Los Angeles, California 90044, Los Angeles, 90044 - bed, bath

947 81, Los Angeles, California 90044 home-pic-0
ACTIVE$780,000
947 81, Los Angeles, California 90044
0Bed
0Bath
1,502Sqft
9,458Lot
Year Built
1923
Close
-
List price
$780K
Original List price
$918K
Price/Sqft
$519
HOA
-
Days on market
-
Sold On
-
MLS number
PW25188047
Home ConditionTear down
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $780.0K(50th), sqft - 1502(19th), beds - undefined(50th), baths - undefined(50th).

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.

Price History

Date
Event
Price
08/28/25
Price Change
$780,000-15.0%
08/21/25
Listing
$918,000
Condition Rating
Tear down
The property, built in 1923, shows significant signs of extreme disrepair and neglect, with no evidence of major renovations in the past 50 years. The kitchen features severely outdated tile countertops, old, damaged cabinets, and worn tile flooring. The interior walls are scuffed and damaged, and light fixtures are very basic and old. The listing description explicitly targets 'Investors and Builders' and highlights the 'value in the land Zone LAR3' for potential redevelopment into 7 units, indicating the existing structure is not the primary value. The overall condition suggests the structure is beyond practical repair for habitation and its value is based solely on the land.
Pros & Cons

Pros

Development Potential (LAR3 Zoning): Zoned LAR3, the property offers significant development potential with proposed plans for 7 units, making it highly attractive to investors and builders.
Vacant Back House: The back house is delivered vacant, a crucial advantage in Los Angeles for immediate development or renovation without tenant relocation complexities.
Prime Location & Accessibility: Strategically located within 4-5 miles of Sofi Stadium, USC campus, and Crypto Arena, ensuring high rental demand and convenient access to major roads and public transportation.
Reduced Price: The property has seen a significant price reduction from $918,000 to $780,000, presenting a more attractive entry point for potential buyers.
High Rental Market Demand: Positioned in a thriving Los Angeles rental market, the location and development potential align perfectly with strong demand for rental units.

Cons

Age and Condition of Existing Structure: Built in 1923, the existing duplex is likely outdated and may require extensive renovation or demolition, implying the primary value is in the land for redevelopment.
Significant Capital Investment Required: As a development opportunity, the purchase price is only the initial investment; substantial additional capital will be needed for construction, permits, and project management for the proposed 7 units.
Development Project Complexity: Undertaking a 7-unit development project is complex, time-consuming, and involves navigating various regulatory hurdles, making it suitable only for experienced investors or builders.

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