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5000 Templeton Street, Los Angeles, California 90032, Los Angeles, 90032 - 5 bed, 2 bath

5000 Templeton Street, Los Angeles, California 90032 home-pic-0
ACTIVE$1,990,000
5000 Templeton Street, Los Angeles, California 90032
5Beds
2Baths
1,611Sqft
55,225Lot
Year Built
1949
Close
-
List price
$1.99M
Original List price
$1.99M
Price/Sqft
$1,235
HOA
-
Days on market
-
Sold On
-
MLS number
TR25011514
Home ConditionExcellent
Features
Excellent View: City Lights
ViewCity Lights

About this home

We found 3 Cons,6 Pros. Rank: price - $1.99M(99th), sqft - 1611(69th), beds - 5(95th), baths - 2(50th).

Prime multi-development opportunity in El Sereno featuring one RD-3 front lot and seven RD-1 vacant lands, perfect for maximizing land value and future developments. The existing 1,611 sqft home offers 5 bedrooms, 2 baths, a 2-car garage, a 450 sqft suite with a kitchenette, and an additional 300 sqft storage basement, all renovated in 2023. The RD-3 front lot allows for up to 7 units, while the seven RD-1 vacant lots on an up-sloping hillside boast breathtaking 180° views of East LA and the San Gabriel Valley, ideal for new condo or SFR developments. Developers can consolidate all parcels into one large lot for a high-value project. Conveniently located near major freeways, just minutes from DTLA, City Hall, Grand Park, MOCA Museum, Grand Central Market, Fashion & Jewelry Districts, Keck Medicine of USC, Dodger Stadium, and more, this property offers endless potential for investors and developers alike.

Condition Rating
Excellent
Despite being built in 1949, the listing explicitly states the entire home was extensively renovated in 2023. This recent, comprehensive renovation means all components are virtually new, meeting current quality standards with no deferred maintenance, aligning perfectly with the 'Excellent' condition criteria.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 55225, living area = 1611.
Exceptional Development Opportunity: The property offers a prime multi-development opportunity with one RD-3 front lot (allowing up to 7 units) and seven RD-1 vacant lots, enabling consolidation for a high-value project.
Significant Land Size: A substantial lot size of 55,225 sqft provides ample space for large-scale development, maximizing potential unit count and project scope in a desirable Los Angeles location.
Panoramic Views: The up-sloping hillside vacant lots boast breathtaking 180° views of East LA and the San Gabriel Valley, a highly desirable feature for future residential units.
Strategic Urban Proximity: Located minutes from Downtown LA, major freeways, and key cultural/commercial hubs like City Hall, MOCA, and Dodger Stadium, enhancing marketability for future residents.
Recently Renovated Existing Structure: The 1949-built home was fully renovated in 2023, including a 450 sqft suite with a kitchenette, offering immediate utility or rental income during the development planning phase.

Cons

Complex Hillside Development: The seven RD-1 vacant lots are on an up-sloping hillside, which can lead to increased development costs, engineering challenges, and longer timelines for grading and foundation work.
Multi-Parcel Consolidation Complexity: Consolidating eight distinct parcels (one RD-3 and seven RD-1) into a single large lot for development will involve significant legal, surveying, and administrative hurdles.
Specialized Buyer Pool: The property's primary value lies in its development potential, appealing to a niche market of experienced developers and investors, which may narrow the buyer pool and extend marketing time.

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