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1234 W Marting Luter King Jr., Los Angeles, California 90037, Los Angeles, 90037 - bed, bath

1234 W Marting Luter King Jr., Los Angeles, California 90037 home-pic-0
ACTIVE$1,349,000
1234 W Marting Luter King Jr., Los Angeles, California 90037
0Bed
0Bath
13,294Sqft
6,403Lot
Year Built
1912
Close
-
List price
$1.35M
Original List price
$1.35M
Price/Sqft
$101
HOA
-
Days on market
-
Sold On
-
MLS number
DW25216052
Home ConditionTear down
Features
Good View: City Lights
Deck
ViewCity Lights

About this home

We found 3 Cons,5 Pros. Rank: price - $1.35M(50th), sqft - 13294(50th), beds - undefined(50th), baths - undefined(50th).

Development Opportunity in Prime Los Angeles – RTI for 17 Units! Unlock the full potential of this prime Los Angeles property! Currently a single-family home, this site comes RTI (Ready to Issue) with approved plans for 17 units — all that’s left is to pull the permits and start building. Located in a high-demand area of L.A., this is a rare, shovel-ready opportunity for investors and developers seeking a fast-track, high-yield multifamily project. RTI – Save time and money Approved for 17 units, These have 11 units with 1 bedroom/ 1 bath & 6 Units with 2 bedroom & 2 bath. Total of 23 Bedroom & 23 Bath. this offer a lot of amenities as a 4 floor to use like a terrace with a beutiful view, an comunity Center and mucho more. Ideal for multifamily development Strong rental demand in surrounding area Convenient access to transit, shops, dining, and more Prime area near USC, Lucas Museum of Narrative Art, BMO Stadium Whether you're expanding your portfolio or breaking ground on your next signature project, this property offers the kind of entitlements and location that make for a winning investment. Now is a Single Family residence with 3 bed and 2 bath.

Price History

Date
Event
Price
09/12/25
Listing
$1,349,000
Condition Rating
Tear down
The property was built in 1912, making it over 110 years old. The listing explicitly markets it as a 'Development Opportunity' with 'RTI (Ready to Issue) with approved plans for 17 units,' indicating the value is in the land and redevelopment potential, not the existing structure. Crucially, all provided images are architectural renderings of the proposed new building, with no photos of the current single-family home. This strongly suggests the existing structure is considered beyond repair or not worth preserving, aligning with the 'tear-down' criteria where the structure is beyond repair and the property's value is based solely on the land and its potential for redevelopment.
Pros & Cons

Pros

RTI (Ready to Issue) Approval: The property comes with approved plans for 17 units, significantly reducing development timelines, costs, and regulatory risks for investors.
Prime Los Angeles Location: Situated in a high-demand area near USC, Lucas Museum, and BMO Stadium, offering strong rental demand and convenient access to amenities and transit.
High-Density Development Potential: Approved for 17 units (11x1B/1B, 6x2B/2B) on a 6403 sqft lot, maximizing land utilization and future rental income potential.
Shovel-Ready Investment: The RTI status positions this as a fast-track opportunity, allowing developers to pull permits and commence construction quickly.
Planned Upscale Amenities: The approved plans include a 4-floor terrace with views and a community center, enhancing the marketability and rental value of the future units.

Cons

Significant Capital Outlay Required: Despite RTI approval, the project demands substantial investment for demolition of the existing structure and construction of 17 new units.
Construction Risk & Management: Developing a 17-unit multifamily building involves inherent construction risks, complex project management, and potential for cost overruns or delays.
No Immediate Income Generation: Currently a single-family home slated for demolition, the property will not generate income during the development phase, leading to carrying costs.

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