RealKey
‪(213) 433-7766‬

1153 Tamarind Avenue, Los Angeles, California 90038, Los Angeles, 90038 - bed, bath

1153 Tamarind Avenue, Los Angeles, California 90038 home-pic-0
ACTIVE$1,250,000
1153 Tamarind Avenue, Los Angeles, California 90038
0Bed
0Bath
1,440Sqft
4,004Lot
Year Built
1923
Close
-
List price
$1.25M
Original List price
$1.3M
Price/Sqft
$868
HOA
-
Days on market
-
Sold On
-
MLS number
DW24243694
Home ConditionTear down
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.25M(50th), sqft - 1440(17th), beds - undefined(50th), baths - undefined(50th).

Amazing opportunity for first time buyers, investors and developers! This exceptional investment and development parcel is nestled in the vibrant core of Hollywood. The lot has a duplex and is zoned R-3, permitting the construction of up to 5 units (buyer to verify). The area is thriving with new developments, reflecting strong demand and ongoing economic growth. It is perfectly located near major industry leaders including Paramount Studios, Netflix, Sunset Gower Studios, and NBC Studios. Additionally, the new "Echelon Studios" complex is set to be completed in 2026. This property boasts an outstanding location. The sale will be conducted as-is. Buyers are encouraged to independently confirm the accuracy of all information through personal inspections and consultations with qualified professionals.

Price History

Date
Event
Price
05/01/17
Sold
$610,000
10/02/01
Sold
$200,000
Condition Rating
Tear down
Built in 1923, this property is over 100 years old, and the images clearly show a structure with no major renovations in the past 50 years. The kitchens and bathrooms are extremely dated, featuring very old cabinets, laminate countertops, basic fixtures, and worn flooring, all indicative of styles from 30-50+ years ago or even original. The exterior shows significant deferred maintenance, including peeling paint and overgrown landscaping. The listing itself emphasizes the property's value as an 'exceptional investment and development parcel' due to its R-3 zoning for up to 5 units, strongly implying that the existing duplex's value is primarily in the land for redevelopment rather than the structure itself. The 'as-is' sale condition further supports the assessment that the existing structure is beyond practical repair for modern living and is likely considered a tear-down for its highest and best use.
Pros & Cons

Pros

Development Potential: Zoned R-3, the lot permits the construction of up to 5 units (buyer to verify), offering significant upside for developers and investors to maximize land use in a high-demand area.
Prime Hollywood Location: Nestled in the vibrant core of Hollywood, the property is strategically located near major industry leaders like Paramount Studios, Netflix, and NBC Studios, ensuring strong rental demand and future appreciation.
Income-Generating Duplex: The property currently features a duplex, providing immediate rental income for investors or a flexible live-in-one, rent-out-the-other option for first-time buyers.
Thriving Market & Growth: The area is experiencing robust growth with new developments, including the upcoming 'Echelon Studios' complex, reflecting strong demand and ongoing economic vitality.
Versatile Investment Opportunity: Positioned as an 'Amazing opportunity for first time buyers, investors and developers,' this property appeals to a broad range of buyers with diverse investment strategies.

Cons

As-Is Sale Condition: The property is sold 'as-is,' which may imply potential for significant deferred maintenance, necessary repairs, or upgrades, shifting the financial risk to the buyer.
Age of Property: Built in 1923, the existing duplex is over 100 years old, suggesting the likelihood of outdated systems, potential structural issues, and higher maintenance costs compared to newer constructions.
Extensive Due Diligence Required: Buyers are strongly encouraged to independently confirm all information, especially regarding zoning and development potential, which necessitates thorough and potentially costly inspections and professional consultations.

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI

Browse Properties by State Browse housing market trends by state