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947 81, Los Angeles, California 90044, Los Angeles, 90044 - bed, bath

947 81, Los Angeles, California 90044 home-pic-0
ACTIVE$998,000
947 81, Los Angeles, California 90044
0Bed
0Bath
1,502Sqft
9,458Lot
Year Built
1923
Close
-
List price
$998K
Original List price
$1.2M
Price/Sqft
$664
HOA
-
Days on market
-
Sold On
-
MLS number
PW25068824
Home ConditionTear down
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $998.0K(82th), sqft - 1502(18th), beds - undefined(50th), baths - undefined(50th).

Calling for all Investors and Builders, value in the land Zone LAR3, the proposal plans are for 7 units which 6 unit has 2 stories 3 bedrooms and 2 bathrooms with 2 car garages and a unit has 2 bedrooms and 1 bathroom. Back house is delivered VACANT one of the best things in Los Angeles. Furthermore, Sofi Stadium and the USC campus are both within a 4-mile radius, and the Crypto Arena is a mere 5 miles away. A perfect option for astute investors seeking to seize opportunities in the thriving Los Angeles rental market. The property's exceptional location further enhances its attractiveness, offering convenient access to major roads, highways, and public transportation, making it a highly sought-after spot for potential tenants. Check it out and do not miss this opportunity to own it. Thank You.

Condition Rating
Tear down
Built in 1923, this property is over 100 years old. The MLS description explicitly states the existing structure is 'likely a tear-down' for the proposed 7-unit development, indicating its value is in the land. The visible kitchen features extremely outdated wood cabinets, tile countertops, and basic fixtures, showing no evidence of major renovations in decades. The overall condition, age, and marketing as a development opportunity align perfectly with the 'tear-down' criteria.
Pros & Cons

Pros

High Development Potential: Zoned LAR3 with proposed plans for 7 units (6 x 3B/2B, 1 x 2B/1B), maximizing land use and potential return on investment for builders and investors.
Strategic Location: Proximity to major attractions like SoFi Stadium, USC campus (within 4 miles), and Crypto Arena (5 miles), ensuring strong rental demand and tenant appeal.
Excellent Accessibility: Offers convenient access to major roads, highways, and public transportation, enhancing its attractiveness for future residents and rental market viability.
Vacant Back House: The back house is delivered vacant, providing immediate flexibility for development or potential rental income without the complexities of tenant relocation.
Targeted Investment Opportunity: Explicitly marketed to 'Investors and Builders,' aligning with its highest and best use for multi-unit development in a thriving Los Angeles rental market.

Cons

Age of Existing Structure: Built in 1923, the current duplex is likely a tear-down for the proposed 7-unit development, incurring demolition costs and not contributing significant value to the new project.
Significant Upfront Investment: Requires substantial capital for land acquisition, demolition, and construction of a 7-unit complex, limiting the buyer pool to well-funded investors/developers.
Permitting and Development Risks: While plans are proposed, the actual process of obtaining full permits and executing a 7-unit development can be complex, time-consuming, and subject to unforeseen challenges in Los Angeles.

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