Realkey.ai
RealKey
‪(213) 433-7766‬

9811 S Vermont, Los Angeles, California 90044, Los Angeles, 90044 - 2 bed, 1 bath

9811 S Vermont, Los Angeles, California 90044 home-pic-0
ACTIVE$525,000$896/sqft
Est. Value: $387,096
-26%
AboveEstimate
9811 S Vermont, Los Angeles, California 90044
2Beds
1Bath
896Sqft
4,755Lot

Price Vs. Estimate

The estimated value ($387,096.39) is $137,903.61 (26%) lower than the list price ($525,000). This property may be overpriced.

Key pros and cons

Top Pros:
Flexible C3 Zoning: The property boasts C3 zoning, allowing for a wide range of commercial and residential development opportunities, including multi-family, single-family, and commercial condominium projects.
Top Cons:
MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =4755, other record lot size in square feet = 4697.

Compared to the nearby listings

Price:$525.0K vs avg $650.0K ($-125,000)11%
Size:896 sqft vs avg 1,290 sqft9%
Price/sqft:$586 vs avg $51078%

More Insights

Built in 1924 (102 years old).
Condition: The property, built in 1924, is explicitly described as a 'tear-down' in the MLS listing, and the images confirm this assessment. The interior shows severe deterioration, including collapsed ceilings, extensive water damage, mold, and non-functional, unsanitary kitchen and bathroom facilities. The property is unlivable, and its value is based solely on the land and its development potential, aligning perfectly with the 'tear-down' criteria.
Year Built
1924
Close
-
List price
$525K
Original List price
$525K
Price/Sqft
$586
HOA
-
Days on market
-
Sold On
-
MLS number
PW26004250
Home ConditionTear down
Features
View-

About this home

INVESTORS DELIGHT!!!!!!!!!!!!!!!!!!!!Great opportunity to own a rare flat level lot zoned C3 for commercial or residential use. Although sold for land value only, there us an existing vacant home on the property, but it is considered to be a tear-down. Seller has tentative verbal approval for a 6 units development allowed by right along with a 24-hour post office box business with a great income potential with very limited competition. Architect may be available to be hired to continue with the approval process for the proposed development, if desired. Repurpose the property as desired or use it as-is. with new codes, it should allow for both residential and commercial development with a potential for residential low-income bonus development and ADU's. Easy to build-out with all utilities place. Both street access and convenient alley access for more development choices and opportunities. This property has a lot of potentials Multi-family residential, Single-family dwelling, Commercial and Residential Condominium project. Property is located in Los Angeles within a small unincorporated pocket under the jurisdiction of the County of Los Angeles. Property SOLD in its present condition and "AS IS', with no warranties of any kind or representations made regarding the property whatsoever. Buyer to conduct their own independent investigations. Standard sale. Because it is being sold for land value only and its income stream, an interior view of the house will only be allowed upon an accepted offer and only of deemed necessary and requested by the buyer because the house is considered to be a tear-down. Due to being sold for land value, sign and its income stream only, drive-by the property at any time and feel free to view it along Vermont and/or the alley at the rear of the property, it could also be view aerial photos. INCREDIBLE DEAL. MAKE PART OF YOUR PORTFOLIO.

B
Beatriz Serna
Listing Agent
Condition Rating
Tear down
The property, built in 1924, is explicitly described as a 'tear-down' in the MLS listing, and the images confirm this assessment. The interior shows severe deterioration, including collapsed ceilings, extensive water damage, mold, and non-functional, unsanitary kitchen and bathroom facilities. The property is unlivable, and its value is based solely on the land and its development potential, aligning perfectly with the 'tear-down' criteria.
Pros & Cons

Pros

Flexible C3 Zoning: The property boasts C3 zoning, allowing for a wide range of commercial and residential development opportunities, including multi-family, single-family, and commercial condominium projects.
High Development Potential: Seller has tentative verbal approval for a 6-unit development, with potential for residential low-income bonus development and ADUs, maximizing density and return on investment.
Existing Infrastructure: All utilities are already in place, facilitating an easy build-out and significantly reducing initial development costs and timelines.
Dual Access: The property benefits from both street access along Vermont and convenient alley access at the rear, offering enhanced design flexibility and operational choices for future development.
Commercial Income Opportunity: Potential for a 24-hour post office box business with great income potential and limited competition, adding a unique commercial value proposition.

Cons

MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =4755, other record lot size in square feet = 4697.
Tear-Down Condition: The existing vacant home is considered a tear-down, requiring demolition and associated costs before any new development can commence, and offers no immediate rental income.
As-Is Sale & Buyer Responsibility: The property is sold in its present condition and 'AS IS,' with no warranties or representations, placing the full burden of independent investigations and potential risks on the buyer.
Verbal Development Approval: The 6-unit development approval is only 'tentative verbal approval,' which is not legally binding and carries inherent risk, requiring the buyer to complete the formal approval process.
Browse Properties by State Browse housing market trends by state