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1168 W 35th Street, Los Angeles, California 90007, Los Angeles, 90007 - 7 bed, 6 bath

1168 W 35th Street, Los Angeles, California 90007 home-pic-0
ACTIVE$1,299,000
1168 W 35th Street, Los Angeles, California 90007
7Beds
6Baths
2,204Sqft
6,061Lot
Year Built
1895
Close
-
List price
$1.3M
Original List price
$1.65M
Price/Sqft
$589
HOA
-
Days on market
-
Sold On
-
MLS number
SR25012581
Home ConditionTear down
Features
ViewNeighborhood

About this home

Possibly Over-Priced:The estimated price is 45% below the list price. We found 4 Cons,5 Pros. Rank: price - $1.30M(91th), sqft - 2204(50th), beds - 7(82th), baths - 6(82th).

Attention Developers!!!We are proud to present for sale a Development Opportunity for 70+- units by ED-1 (100% vested) and for 8 units + 2 ADU's (total of 48 beds 48 baths) by TOC located about 2 minutes from the USC campus.. The latter option can be utilized for student housing. Currently, the remodeled SFR ( 7 bed 5 bath) on site is being operated as a short term rental (ArBnB) which purchasers can continue to operate while waiting for RTI. (Purchaser would assume entitlements)Seller has submitted plans for both options-ED-1 100% Affordable Housing and TOC. A Demolition permit has been issue. The ED-1 plan consist of 56 Studios units and 17 one bedroom units. Additionally, The existing SFR can be utilized for student housing with the option of building an ADU in the rear to maximize the number of bedrooms and bathrooms. This R3 (Tier3) corner lot location is walking distance to USC village and has a great walk score, a biker's utopia, located close to public transportation, and is located within the USC Patrol Zone.

Price History

Date
Event
Price
09/19/25
Sold
$1,245,000
10/26/20
Sold
$1,715,000
11/10/04
Sold
$15,000
08/16/04
Sold
$280,000
Condition Rating
Tear down
Despite recent cosmetic remodels visible in the images (basic white kitchen cabinets, laminate flooring, updated bathroom vanity), the listing explicitly states that a 'Demolition permit has been issue' and the existing SFR is 'likely slated for demolition.' The property is being marketed as a development opportunity, with its value based solely on the land and its potential for redevelopment, aligning perfectly with the 'tear-down' criteria.
Pros & Cons

Pros

Vested Development Opportunity: Fully vested ED-1 plans for 70+ units (100% affordable housing) or TOC plans for 8 units + 2 ADUs, with a demolition permit issued, significantly de-risking the development process.
Strategic USC Proximity: Located just 2 minutes from USC campus, walking distance to USC Village, and within the USC Patrol Zone, making it an ideal site for high-demand student housing.
Immediate Income Generation: The existing remodeled SFR is successfully operating as a short-term rental (Airbnb), providing a valuable income stream during the entitlement and pre-development phases.
Optimal Zoning & Lot Configuration: R3 (Tier3) zoning on a desirable corner lot maximizes density and design flexibility for multi-unit development.
Exceptional Walk Score & Transit Access: High walkability, bike-friendly environment, and proximity to public transportation enhance the appeal and convenience for future residents.

Cons

Recently Sold Property: The property was recently sold within the past year on 2025-09-19. The sold price is $1,245,000.00.
Substantial Price-to-Value Discrepancy: The current list price is significantly higher than the estimated property value, suggesting a premium for development potential that may require careful financial analysis.
Age of Existing Structure: The 1895-built SFR, while remodeled, is likely slated for demolition, representing a sunk cost if not fully factored into the land value.
Entitlement Assumption & Project Management: While plans are submitted and a demolition permit issued, the purchaser assumes entitlements, requiring diligent project management to navigate the final stages of the development process.

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