1339 N Cherokee Avenue, Los Angeles, California 90028, Los Angeles, 90028 - 2 bed, 1 bath
ACTIVE UNDER CONTRACT$1,400,000
1339 N Cherokee Avenue, Los Angeles, California 90028
2Beds
1Bath
980Sqft
6,137Lot
Year Built
1922
Close
-
List price
$1.4M
Original List price
$1.55M
Price/Sqft
$1,429
HOA
-
Days on market
-
Sold On
-
MLS number
24418935
Home ConditionTear down
Features
Patio
View
About this home
We found 3 Cons,5 Pros. Rank: price - $1.40M(67th), sqft - 980(17th), beds - 2(33th), baths - 1(17th).
Investment opportunity! The property was recently involved in a fire (building has been red tagged) and should be demo. Zoning is RD1.5-1XL per LA City public records.
Condition Rating
Tear down
The property, built in 1922, has been severely damaged by fire, is red-tagged, and explicitly stated as needing demolition. The images confirm extensive structural damage, rendering the building unlivable and beyond repair. Its value is solely based on the land and its redevelopment potential.
Pros & Cons
Pros
Prime Location: Situated in the highly desirable Hollywood area of Los Angeles (MLS Area C20), offering strong market demand and appreciation potential.
Development Potential: Zoned RD1.5-1XL, which allows for multi-family development, providing significant upside for investors or developers to maximize land use.
Investment Opportunity: Explicitly marketed as an investment opportunity, appealing to buyers looking for redevelopment projects in a prime urban setting.
Generous Lot Size: A substantial 6137 sqft lot in a dense urban environment like Hollywood offers ample space for a new construction project.
Price Adjustment: The list price has been reduced from $1.55M to $1.4M, potentially indicating a motivated seller and a more attractive entry point for a redevelopment project.
Cons
Severe Damage & Red-Tagged: The property was recently involved in a fire, is red-tagged, and deemed unsafe for occupancy, rendering the existing structure uninhabitable.
Demolition Required: The description explicitly states the building 'should be demo,' incurring significant additional costs and time for demolition and debris removal before any new construction can begin.
Active Under Contract Status: The property is currently 'Active Under Contract,' meaning it is already in escrow, which may limit opportunities for new prospective buyers unless the current deal falls through.