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967 Arapahoe, Los Angeles, California 90006, Los Angeles, 90006 - 4 bed, 2 bath

967 Arapahoe, Los Angeles, California 90006 home-pic-0
ACTIVE$1,499,000
967 Arapahoe, Los Angeles, California 90006
4Beds
2Baths
2,772Sqft
8,535Lot
Year Built
1905
Close
-
List price
$1.5M
Original List price
$1.5M
Price/Sqft
$541
HOA
-
Days on market
-
Sold On
-
MLS number
SR25216456
Home ConditionPoor
Features
View-

About this home

Fairly Priced:The estimated price is in line with the list price. We found 3 Cons,5 Pros. Rank: price - $1.50M(90th), sqft - 2772(70th), beds - 4(50th), baths - 2(50th).

Located in the highly sought-after Mid-Wilshire neighborhood, this three-story single-family residence at 967 Arapahoe Street presents a rare opportunity for both investors and developers. The property features 4 bedrooms and 2 bathrooms across a spacious 2,772 square foot living area and sits on a large 8,535 square foot lot. Currently leased at $4,071/month, this asset provides immediate income while offering exceptional future upside. Zoned LAR4-1 and designated within a Transit Oriented Communities (TOC) Tier 3 zone, the site is ideal for multifamily redevelopment with generous density bonuses and reduced parking requirements. Just one block east of S. Hoover Street and minutes from the 101, 10, and 110 Freeways, the property is strategically positioned near Downtown L.A., Koreatown, USC, and major employment centers. Whether you’re looking to renovate and hold, or unlock the full potential of the land through new construction, this property checks all the boxes.

Price History

Date
Event
Price
09/12/25
Listing
$1,499,000
02/04/21
Sold
$1,820,500
09/26/11
Sold
$475,000
08/23/07
Sold
$980,000
05/05/06
Sold
$214,000
Condition Rating
Poor
Built in 1905, this property is 119 years old. While the exterior appears maintained, the absence of interior images and any mention of recent renovations strongly indicates that the kitchen, bathrooms, and all major systems are severely outdated and require substantial repairs and rehabilitation. The listing description explicitly mentions 'renovate and hold' or 'unlock the full potential of the land through new construction,' which suggests the current structure is not up to modern standards and needs significant investment. Although currently leased, implying it's livable, it likely offers a very uncomfortable or outdated living experience, aligning with the 'Poor' condition criteria.
Pros & Cons

Pros

Exceptional Development Potential: Zoned LAR4-1 and designated within a Transit Oriented Communities (TOC) Tier 3 zone, this property offers significant multifamily redevelopment opportunities with generous density bonuses and reduced parking requirements.
Prime Location: Strategically positioned in the highly sought-after Mid-Wilshire neighborhood, with excellent proximity to Downtown L.A., Koreatown, USC, and major freeways (101, 10, 110).
Immediate Income Generation: The property is currently leased at $4,071/month, providing immediate cash flow and an income stream for investors from day one.
Large Lot Size: Sitting on a substantial 8,535 square foot lot, there is ample space for potential redevelopment, expansion, or creative land use.
Versatile Investment Opportunity: The asset caters to both investors looking to renovate and hold for rental income, and developers aiming to unlock its full potential through new construction.

Cons

Age of Property: Built in 1905, the existing single-family residence is over a century old, likely requiring significant renovation, modernization, or demolition for optimal use or redevelopment.
Current Single-Family Use: While offering immense development potential, its current configuration as a single-family home does not fully capitalize on the valuable LAR4-1/TOC Tier 3 zoning without substantial investment in redevelopment.
Potential Renovation Costs: If the 'renovate and hold' strategy is pursued, the age of the property suggests a high likelihood of significant capital expenditure required for updates, repairs, and bringing systems up to modern standards.

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