2346 Ridgeview Avenue, Los Angeles, California 90041, Los Angeles, 90041 - 16 bed, 21 bath
ACTIVE$2,280,000
2346 Ridgeview Avenue, Los Angeles, California 90041
16Beds
21Baths
9,102Sqft
7,784Lot
Year Built
1923
Close
-
List price
$2.28M
Original List price
$2.28M
Price/Sqft
$250
HOA
-
Days on market
-
Sold On
-
MLS number
24448401
Home ConditionExcellent
Features
Good View: City Lights, Hills
Deck
ViewCity Lights,Hills
About this home
We found 3 Cons,6 Pros. Rank: price - $2.28M(87th), sqft - 9102(99th), beds - 16(99th), baths - 21(99th).
Ready-to-Issue (RTI) 5 Unit Construction Project on a Flat Lot in Prime Eagle Rock, Los Angeles. With 9,102 SF of Livable/Rentable Area, this architectural community features 5 Single Family Residence all with 2 cars side-by-side garage and private rooftops. Unit A, B, C, D features 3 bedroom 3.5 bathroom. Unit E is the end unit featuring 4 bedroom 4.5 bathroom with an extra first floor outdoor space. Located walking distances to Eagle Rock Blvd, it is conveniently located near the acclaimed Occidental College, and minutes away from the trendiest spots including Capri Club, Chifa, MilkFarm, and more. Combining aesthetic living with prime location, these unique SLOs offer a luxury and fitting appeal to all future buyers and renters. The property currently houses a vacant SFR with a large yard.
Nearby schools
8/10
Eagle Rock Elementary and Magnet Center
Public,•K-6•0.5mi
9/10
Delevan Drive Elementary School
Public,•K-6•0.6mi
5/10
Toland Way Elementary School
Public,•K-6•0.7mi
5/10
Buchanan Street Elementary School
Public,•K-6•1.0mi
6/10
Dahlia Heights Elementary School
Public,•K-6•1.2mi
6/10
Rockdale Elementary School
Public,•K-6•1.4mi
6/10
John Muir Elementary School
Public,•K-6•1.4mi
6/10
Glenoaks Elementary School
Public,•K-6•1.5mi
5/10
Yorkdale Elementary School
Public,•K-6•1.5mi
4/10
Annandale Elementary School
Public,•K-6•1.8mi
6/10
San Rafael Elementary School
Public,•K-5•2.6mi
4/10
Roosevelt Elementary School
Public,•K-5•3.8mi
6/10
Theodore Roosevelt Middle School
Public,•6-8•2.0mi
6/10
Woodrow Wilson Middle School
Public,•6-8•2.0mi
6/10
Luther Burbank Middle School
Public,•6-8•2.1mi
2/10
Washington Middle School
Public,•6-8•5.0mi
7/10
Eagle Rock High School
Public,•7-12•0.7mi
6/10
Glendale High School
Public,•9-12•1.3mi
7/10
Benjamin Franklin Senior High School
Public,•6-12•1.5mi
4/10
Blair High School
Public,•6-12•4.2mi
3/10
John Muir High School
Public,•9-12•4.7mi
Price History
Date
Event
Price
07/20/21
Sold
$1,138,000
Condition Rating
Excellent
This listing is for a 'Ready-to-Issue (RTI) 5 Unit Construction Project,' and the provided images are renderings of the proposed new construction. These renderings depict a property with a modern architectural design, high-end finishes, and contemporary features throughout. The kitchen features sleek flat-panel cabinetry, a large island, modern appliances (implied by the visible range hood), and stylish lighting. The living areas showcase light wood flooring, recessed lighting, and expansive windows. All elements suggest a newly built property meeting current quality standards with no deferred maintenance, aligning perfectly with the 'Excellent' criteria for new construction.
Pros & Cons
Pros
Great Schools: Elementary School: Delevan Drive Elementary School (9/10).
Shovel-Ready Development: The property comes with Ready-to-Issue (RTI) permits for a 5-unit construction project, significantly de-risking and accelerating the development timeline for the buyer.
Prime Eagle Rock Location: Situated in a highly desirable 'Prime Eagle Rock' area, offering walkability to Eagle Rock Blvd, proximity to Occidental College, and trendy local amenities, enhancing future demand and value.
High-Value Multi-Unit Design: The architectural community features 5 distinct Single Family Residences, each with private rooftops and 2-car side-by-side garages, appealing to a luxury market segment.
Substantial Livable/Rentable Area: The project boasts a significant 9,102 SF of total livable/rentable space across the five units, maximizing potential income or resale value upon completion.
Favorable Lot Characteristics & Views: A flat lot simplifies construction, complemented by desirable city lights and hills views, which are attractive features for future residents and contribute to property value.
Cons
Significant Additional Capital Outlay: The listed price covers the land and RTI plans; substantial additional capital will be required for the full construction of the five units, representing a considerable investment beyond the purchase price.
Exposure to Construction Risks: Despite RTI, the project is still subject to inherent construction challenges, potential cost overruns, and market fluctuations during the multi-year build-out phase.
No Immediate Income Generation: The property currently houses a vacant SFR, meaning no cash flow or rental income will be generated until the entire 5-unit development is completed and occupied.