4316 Dozier Street, Los Angeles, California 90022, Los Angeles, 90022 - 3 bed, 1 bath

4316 Dozier Street, Los Angeles, California 90022 home-pic-0
ACTIVE$699,000
4316 Dozier Street, Los Angeles, California 90022
3Beds
1Bath
1,232Sqft
6,715Lot
Year Built
1922
Close
-
List price
$699K
Original List price
$699K
Price/Sqft
$567
HOA
-
Days on market
-
Sold On
-
MLS number
AR25118341
Home ConditionTear down
Features
View-

About this home

Possibly Over-Priced:The estimated price is 25% below the list price. We found 3 Cons,5 Pros. Rank: price - $699.0K(53th), sqft - 1232(67th), beds - 3(50th), baths - 1(50th).

Attention builders and investors, this property with development potential offers a rare opportunity to build three residential units with professionally prepared, RTI-ready plans. Whether you're looking to develop and hold or create income-generating rentals, this site is ready for your vision. Located near Whittier Boulevard with easy access to the 60 and 710 freeways, the home is just minutes from Citadel Outlets, Belvedere Park, East LA College, neighborhood schools, and a variety of grocery stores, cafés, and transit options. Positioned near the borders of City Terrace and Boyle Heights, and only a short drive from DTLA. This property is zoned R-2. According to the assessor’s profile, the existing building offers 1,232 sq.ft. of living area. Rear alley access and a long driveway provide generous parking and site flexibility. The flat deep lot is designed for two detached two-story homes in the front and one detached single-story ADU in the rear, total proposed living area: Approx. 3,818 sq.ft.?(per plans) Under new regulations, up to four units may be permitted. Buyer to verify all zoning, permits, and development potential with the appropriate city departments.

Price History

Date
Event
Price
05/23/22
Sold
$590,000
05/23/22
Sold
$575,000
04/05/22
Sold
$408,000
Condition Rating
Tear down

Built in 1922, the property's exterior images clearly show severe disrepair, peeling paint, broken/boarded windows, and an unkempt, overgrown yard, indicating extreme neglect and potential structural issues. The listing description and property analysis explicitly state that the existing structure is 'old and likely requires demolition or extensive renovation' and that the property's value is based on its 'development potential' for new units. No interior photos are provided, but given the exterior condition and the focus on redevelopment, the interior is presumed to be unlivable and beyond repair, consistent with a tear-down candidate.
Pros & Cons

Pros

Significant Development Potential: The property offers a rare opportunity for builders and investors to develop three residential units, with professionally prepared, RTI-ready plans, and potential for up to four units under new regulations, maximizing land use and return on investment.
RTI-Ready Plans Included: The availability of 'Ready To Issue' plans for multi-unit development significantly streamlines the approval process, saving the buyer considerable time and expense in the initial stages of the project.
Strategic Location: Situated near major freeways (60, 710), Whittier Boulevard, East LA College, and minutes from DTLA, the location offers excellent accessibility and desirability for future tenants or buyers of the developed units.
Favorable Lot Characteristics: The flat, deep lot with R-2 zoning, rear alley access, and a long driveway provides optimal conditions for multi-unit construction and offers generous parking and site flexibility.
Income-Generating Opportunity: Explicitly marketed for creating income-generating rentals, this property is ideal for investors seeking to build a portfolio of rental units in a high-demand urban area.

Cons

Discrepancy in Value: The list price of $699,000 is substantially higher than the estimated value of the existing single-family home ($519,601), indicating that the buyer is paying a significant premium solely for the development potential, not the current structure.
Age and Condition of Existing Structure: Built in 1922, the current 1,232 sq.ft. home is old and likely requires demolition or extensive renovation, adding substantial upfront costs and project complexity for the developer.
Buyer Due Diligence Required: Despite 'RTI-ready' plans, the listing explicitly states 'Buyer to verify all zoning, permits, and development potential,' placing the onus on the buyer to confirm all aspects and mitigate potential unforeseen issues or costs.

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