RealKey
‪(213) 433-7766‬

2311 W 2nd Street, Los Angeles, California 90057, Los Angeles, 90057 - 2 bed, 1 bath

2311 W 2nd Street, Los Angeles, California 90057 home-pic-0
ACTIVE$900,000
2311 W 2nd Street, Los Angeles, California 90057
2Beds
1Bath
1,290Sqft
6,467Lot
Year Built
1920
Close
-
List price
$900K
Original List price
$900K
Price/Sqft
$698
HOA
-
Days on market
-
Sold On
-
MLS number
24368003
Home ConditionTear down
Features
Good View: City Lights
ViewCity Lights

About this home

We found 2 Cons,3 Pros. Rank: price - $900.0K(50th), sqft - 1290(50th), beds - 2(25th), baths - 1(25th).

Priced Reduced! Motivated Seller! SB8 Clearance, Phase 1 report, and a land survey are available upon request. First time on the open market in almost 40 years! This development opportunity features 6,467 SF of land with alley access, in sought after Westlake just South of Beverly Blvd. The property will be delivered fully vacant with SB8 excluded approval. This investment presents a developer the opportunity to purchase land in the coveted Silverlake Adjacent, located steps from Echo Park. The parcel is zoned R3-1 and located in a Transit Oriented Community Tier 1, allowing a developer to build up to ~9 large units at a low price per sf of $139. Additionally, the Los Angeles Transit Oriented Density bonus can be used to build up to ~14 units. The subject property is centrally located within the heart of Westlake and Filipinotown. This parcel is a hidden gem in a gentrifying area surrounded by new developments. This site is located with close proximity to food destinations, bars, coffee shops, retail stores as well as Downtown LA, Silverlake, and K-Town. Buyer to do their own due diligence regarding possibilities for development. Property inspection subject to accepted offer. Please do not contact the owner as the property is exclusively listed.

Nearby schools

/10
Lake Street Primary School
Public,•K-1•0.1mi
5/10
Union Avenue Elementary School
Public,•K-5•0.4mi
5/10
Rosemont Avenue Elementary School
Public,•K-5•0.4mi
/10
Lafayette Park Primary Center
Public,•K•0.5mi
3/10
Charles White Elementary School
Public,•1-5•0.6mi
3/10
Macarthur Park Elementary School For The Visual And Performing Arts
Public,•K-5•0.7mi
2/10
Esperanza Elementary School
Public,•K-5•0.8mi
3/10
Gratts Learning Academy For Young Scholars (Glays)
Public,•K-6•0.9mi
5/10
Commonwealth Avenue Elementary School
Public,•K-5•0.9mi
4/10
Betty Plasencia Elementary School
Public,•K-6•0.9mi
8/10
Hoover Street Elementary School
Public,•K-5•1.0mi
7/10
Dr. Sammy Lee Medical And Health Science Magnet Elementary
Public,•K-5•1.0mi
2/10
Tenth Street Elementary School
Public,•K-5•1.3mi
3/10
Leo Politi Elementary School
Public,•K-5•1.4mi
3/10
Rfk Community Schools - Ambassador School - Global Education
Public,•K-5•1.6mi
6/10
Castelar Street Elementary School
Public,•K-5•1.9mi
3/10
Sal Castro Middle School
Public,•6-8•0.7mi
3/10
John H. Liechty Middle School
Public,•6-8•0.8mi
5/10
Virgil Middle School
Public,•6-8•1.2mi
3/10
Berendo Middle School
Public,•6-8•1.7mi
6/10
Thomas Starr King Middle School
Public,•6-8•2.0mi
3/10
Belmont Senior High School
Public,•9-12•0.7mi
3/10
Rfk Community Schools-Ambassador-Global Leadership
Public,•6-12•1.4mi
4/10
Rfk Community Schools-Los Angeles High School Of The Arts
Public,•9-12•1.4mi
5/10
Rfk Community Schools- For The Visual Arts And Humanities
Public,•9-12•1.4mi
8/10
John Marshall Senior High School
Public,•9-12•2.8mi
Condition Rating
Tear down
The property was built in 1920 and the listing mentions it's the first time on the open market in almost 40 years, suggesting no major renovations in a long time. The images show a dilapidated structure, overgrown vegetation, and general disrepair. The listing focuses on the land's development potential, further indicating the building's condition is beyond reasonable repair and suitable for demolition.
Pros & Cons

Pros

Development Opportunity: The property offers a significant development opportunity with SB8 exclusion approval, allowing for potential construction of multiple units.
Favorable Zoning: Zoned R3-1 and located in a Transit Oriented Community Tier 1, enabling a developer to build a substantial number of units, potentially up to 14 with density bonuses.
Prime Location: Centrally located in a gentrifying area of Westlake, near Downtown LA, Silverlake, and K-Town, with easy access to amenities and transportation.

Cons

Property Condition: The listing focuses on land value and development potential, suggesting the existing structure may require significant renovation or demolition.
Due Diligence Required: Buyers are expected to conduct their own due diligence regarding development possibilities, potentially adding time and expense to the project.

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