249 S Avenue 54 · Los Angeles, CA 90042

$2,450,000

3 bd · 1.0 ba · 1,136 sqft · MultiFamily public records · 285 Days on market

Built 1922 0.40 ac lot

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

12 Unit RTI project with alley access. Located in the vibrant Highland Park community of Los Angeles, 249 S Avenue 54. This offers a rare development opportunity with RTI (Ready-To-Issue) permits in place. The existing property features three separate bungalow homes with alley access. NO RELOCATION, THE PROPERTY IS DELIVERED FULLY VACANT. The approved plans allow for four new construction duplex structures and two detached ADUs. Upon CofO, the new owner will be able to capture six (6) additional ADUs by right. Recent code updates allow for 8 ADUs bringing the unit count to 16 total. The new project will feature (8) 5B/5B units and (8) 2B/2B ADUS, each thoughtfully designed to meet the needs of modern urban living. The building will encompass approximately 24,210 square feet on a 17,882 square foot lot, designed with contemporary finishes, energy-efficient features, a full sprinkler system, and full compliance with the latest seismic and building codes. Situated just minutes from Downtown Los Angeles, tucked in between Griffith Obervatory and the 110 Parkway, the property benefits from a strong demand for rental housing, making it ideal for families or co-living operations. The estimated annual NOI is approximately $768,903. Avenue 54 offers an outstanding opportunity to invest in a high-demand, centrally located project ready for immediate development and long-term success.

Key facts

• Two detached adus
• Fully vacant
• 0.4 acre lot

Tags

• RARE DEVELOPMENT OPPORTUNITY
• THREE SEPARATE BUNGALOW HOMES
• FULLY VACANT
• TWO DETACHED ADUS
• SIX ADDITIONAL ADUS BY RIGHT
• ENERGY EFFICIENT FEATURES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $2.45M.

Deal economics

• At list price, monthly cash flow is $32k ($380k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($59k rent vs $2.45M).
• Recommended offer: $2.16M (12.0% below list) — sets the bar for market timing.
• Cap rate 21.8% vs local median 2.1% in Los Angeles — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 68/100 on livability (#273 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment B; Watch: health & safety C-, crime F, cost of living F.
• Los Angeles Unified (urban): math 29% / reading 54% proficiency, ranked #223 of 517 in CA (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Bushnell Way Elementary (181 students, 86% FRL); Luther Burbank Middle (904 students, 86% FRL); Valley Academy of Arts And Sciences (math 22% / reading 52%, grade F, #578 of 1,170 statewide, top 51%, 868 students, 64% FRL).
• Market conditions: Rents rising (+1.3%/yr); 182 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $17k of loan paydown is wiped out by about $74k of value loss. Plan a longer hold.
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 1.3% rent growth), your $686k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 285 days — a 12% lower offer ($2.16M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $545k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $1.28M; list at $2.45M implies a 92% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $2,156,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 285 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.43% ✓
• Cap rate: 21.80%
• Cash-on-cash: 55.40%
• DSCR: 3.46
• GRM: 3.4

CMA / ARV

• ARV (median comp): $1,069,706,219
• List price: $2,450,000
• Delta: -99.77%
• Verdict: UNDERPRICED
• Comps: 6 within 2.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5037 Montezuma St	0.74mi	3/2.0	1,200 (+6%)	2mo	$740,000	$617	50
401 Kendall Ave	0.43mi	2/2.0 (-1)	1,100 (-3%)	24mo	$850,000	$773	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.34% rent growth · sell at horizon

5-year hold

• IRR: 51.9%
• Equity multiple: 3.22×
• Total profit: $1,522,313
• Equity at exit: $365,303

10-year hold

• IRR: 56.5%
• Equity multiple: 6.15×
• Total profit: $3,534,936
• Equity at exit: $211,831

Cash invested: $686,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City Los Angeles: 0 Strongly Tenant-Friendly · D+22

LARSO + JCEO 2023; relocation for substantial remodel evictions.

Methodology + full state rankings →

ZIP-level market 90042

• Rents YoY: 1.3%
• Active inventory: 182
• Price-to-rent: 42.6×

Monthly cashflow live

• Estimated rent: $59,416 high
• Mortgage (P&I): −$12,848
• Tax from tax record: −$1,400 /mo · $16,798/yr
• Insurance: −$1,021
• HOA: −$0
• Vacancy / Maint / Mgmt: −$12,477
• Net cashflow: $31,670

Break-even live

Break-even rent $19,328

Max offer price $2,450,000

Occupancy floor 42%

Sensitivity live

Price	-10% $33,057	-5% $32,363	+0% $31,670	+5% $30,976	+10% $30,283
Rent	-10% $26,976	-5% $29,323	+0% $31,670	+5% $34,017	+10% $36,364
Rate	-1.0pp $32,904	-0.5pp $32,293	base $31,670	+0.5pp $31,035	+1.0pp $30,389

16-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 8× units	5	5	$38,352
▸ 8× units	2	2	$21,064
Total (16 units)			$59,416

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $612,500
• Closing costs: $73,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
250 South Avenue 55 Highland Park, CA	3.0	1.0	1300	$4,250	$3.27	26d	1	0.07mi
250 South Avenue 55 Highland Park, CA	3.0	1.0	1300	$4,350	$3.35	45d	1	0.07mi
250 South Avenue 55 Highland Park, CA	3.0	1.0	1300	$4,150	$3.19	9d	1	0.07mi
260 South Avenue 55 Unit H Los Angeles, CA	3.0	2.0	1200	$3,100	$2.58	22d	1	0.08mi
5229 Glen Ellen Pl Highland Park, CA	2.0	1.0	700	$3,300	$4.71	45d	1	0.09mi
277 South Avenue 52 Unit 1 Los Angeles, CA	3.0	2.0	1250	$3,250	$2.60	17d	1	0.09mi
162 S Avenue 55 Los Angeles, CA	2.0	1.5	900	$2,799	$3.11	9d	1	0.10mi
255 South Avenue 55 Unit 01 Los Angeles, CA	2.0	1.0	713	$2,495	$3.50	45d	1	0.11mi
5605 Carlota Blvd Unit B Los Angeles, CA	2.0	2.0	1000	$2,850	$2.85	5d	1	0.20mi
322 Leslie Way Los Angeles, CA	4.0	3.0	1400	$4,395	$3.14	9d	1	0.26mi
326 Leslie Way Los Angeles, CA	3.0	3.0	1000	$4,275	$4.28	9d	1	0.27mi
5733 Benner St Apt 12A Los Angeles, CA	2.0	1.0	800	$3,200	$4.00	17d	1	0.32mi
208 South Avenue 58 Unit 03 Los Angeles, CA	3.0	1.0	1000	$3,400	$3.40	21d	1	0.36mi
118 South Avenue 50 #602 Los Angeles, CA	2.0	2.5	1370	$4,650	$3.39	20d	1	0.36mi
5423 Ash St Los Angeles, CA	2.0	2.0	800	$3,195	$3.99	26d	1	0.45mi
5011 Monte Vista St Unit 307 Los Angeles, CA	2.0	1.0	790	$2,395	$3.03	21d	1	0.46mi
5920 Benner St Unit 5920-2 Highland Park, CA	2.0	1.0	800	$2,704	$3.38	26d	1	0.47mi
408 Kendall Ave Los Angeles, CA	3.0	2.0	1046	$5,200	$4.97	22d	1	0.47mi
317 North Avenue 50 Apt 2 Highland Park, CA	3.0	2.0	1000	$3,600	$3.60	6d	1	0.49mi
367 North Avenue 52 Unit 367 Los Angeles, CA	2.0	1.0	747	$2,150	$2.88	45d	1	0.51mi
374 Shults St Los Angeles, CA	2.0	1.0–2.0	700	$2,325	$3.32	45d	2	0.51mi
4707 N Figueroa St Los Angeles, CA	3.0	3.0	1200	$3,387	$2.82	45d	1	0.56mi
5966 Benner St Los Angeles, CA	2.0	1.0	750	$2,400	$3.20	26d	1	0.56mi
229 South Avenue 60 Unit 04 Highland Park, CA	3.0	1.0	915	$2,900	$3.17	21d	1	0.58mi
229 South Avenue 60 Apt 2 Highland Park, CA	3.0	1.0	915	$3,300	$3.61	17d	1	0.58mi
5622 Monterey Rd Los Angeles, CA	3.0	1.0	1111	$3,400	$3.06	26d	1	0.61mi
5907 Monterey Rd Los Angeles, CA	2.0	2.0	840	$2,745	$3.27	19d	1	0.61mi
5622 Aldama St Los Angeles, CA	3.0	2.0	1323	$4,995	$3.78	45d	1	0.63mi
316 Crane Blvd Los Angeles, CA	2.0	1.0	800	$4,950	$6.19	45d	1	0.70mi
6125 Toltec Way Highland Park, CA	2.0	1.0	700	$2,450	$3.50	5d	1	0.71mi
4260 Via Arbolada Los Angeles, CA	2.0	2.0	1060	$2,995	$2.83	7d	1	0.72mi
4260 Via Arbolada #121 Los Angeles, CA	2.0	2.0	1060	$2,995	$2.83	17d	1	0.72mi
4260 Via Arbolada #307 Los Angeles, CA	2.0	2.0	1060	$2,500	$2.36	45d	1	0.72mi
4260 Via Arbolada #220 Los Angeles, CA	2.0	2.0	1057	$3,200	$3.03	45d	1	0.72mi
6137 Toltec Way Unit 7 Los Angeles, CA	2.0	1.0	1000	$2,395	$2.40	45d	1	0.72mi
6140 Monterey Rd Los Angeles, CA	2.0	2.0	1003	$3,200	$3.19	26d	1	0.80mi
6208 Arroyo Glen St Unit 06 Los Angeles, CA	2.0	1.0	800	$2,450	$3.06	0d	1	0.80mi
4210 Via Arbolada #307 Los Angeles, CA	2.0	2.0	1037	$4,500	$4.34	45d	1	0.82mi
4024 Monterey Rd Los Angeles, CA	3.0	3.0	1279	$4,390	$3.43	1d	1	0.82mi
4024 Monterey Rd Los Angeles, CA	3.0	2.0	1279	$4,390	$3.43	45d	1	0.82mi

Listing history 37 events

1. 2026-06-21
   days on market $2,450,000 Active 285 DOM
2. 2026-06-18
   days on market $2,450,000 Active 282 DOM
3. 2026-06-17
   days on market $2,450,000 Active 281 DOM
4. 2026-06-16
   days on market $2,450,000 Active 280 DOM
5. 2026-06-15
   days on market $2,450,000 Active 279 DOM
6. 2026-06-13
   days on market $2,450,000 Active 277 DOM
7. 2026-06-09
   days on market $2,450,000 Active 273 DOM
8. 2026-06-08
   days on market $2,450,000 Active 272 DOM
9. 2026-06-07
   days on market $2,450,000 Active 271 DOM
10. 2026-06-04
    days on market $2,450,000 Active 268 DOM
11. 2026-06-03
    days on market $2,450,000 Active 267 DOM
12. 2026-06-02
    days on market $2,450,000 Active 266 DOM
13. 2026-06-01
    days on market $2,450,000 Active 265 DOM
14. 2026-05-31
    days on market $2,450,000 Active 264 DOM
15. 2026-05-19
    price $2,450,000 1396-char remark

    Show marketing remark (1396 chars)

    12 Unit RTI project with alley access. Located in the vibrant Highland Park community of Los Angeles, 249 S Avenue 54. This offers a rare development opportunity with RTI (Ready-To-Issue) permits in place. The existing property features three separate bungalow homes with alley access. NO RELOCATION, THE PROPERTY IS DELIVERED FULLY VACANT. The approved plans allow for four new construction duplex structures and two detached ADUs. Upon CofO, the new owner will be able to capture six (6) additional ADUs by right. Recent code updates allow for 8 ADUs bringing the unit count to 16 total. The new project will feature (8) 5B/5B units and (8) 2B/2B ADUS, each thoughtfully designed to meet the needs of modern urban living. The building will encompass approximately 24,210 square feet on a 17,882 square foot lot, designed with contemporary finishes, energy-efficient features, a full sprinkler system, and full compliance with the latest seismic and building codes. Situated just minutes from Downtown Los Angeles, tucked in between Griffith Obervatory and the 110 Parkway, the property benefits from a strong demand for rental housing, making it ideal for families or co-living operations. The estimated annual NOI is approximately $768,903. Avenue 54 offers an outstanding opportunity to invest in a high-demand, centrally located project ready for immediate development and long-term success.

16. 2026-03-24
    price $2,550,000 1396-char remark

    Show marketing remark (1396 chars)

    12 Unit RTI project with alley access. Located in the vibrant Highland Park community of Los Angeles, 249 S Avenue 54. This offers a rare development opportunity with RTI (Ready-To-Issue) permits in place. The existing property features three separate bungalow homes with alley access. NO RELOCATION, THE PROPERTY IS DELIVERED FULLY VACANT. The approved plans allow for four new construction duplex structures and two detached ADUs. Upon CofO, the new owner will be able to capture six (6) additional ADUs by right. Recent code updates allow for 8 ADUs bringing the unit count to 16 total. The new project will feature (8) 5B/5B units and (8) 2B/2B ADUS, each thoughtfully designed to meet the needs of modern urban living. The building will encompass approximately 24,210 square feet on a 17,882 square foot lot, designed with contemporary finishes, energy-efficient features, a full sprinkler system, and full compliance with the latest seismic and building codes. Situated just minutes from Downtown Los Angeles, tucked in between Griffith Obervatory and the 110 Parkway, the property benefits from a strong demand for rental housing, making it ideal for families or co-living operations. The estimated annual NOI is approximately $768,903. Avenue 54 offers an outstanding opportunity to invest in a high-demand, centrally located project ready for immediate development and long-term success.

17. 2026-03-17
    price $2,575,000 1396-char remark

    Show marketing remark (1396 chars)

    12 Unit RTI project with alley access. Located in the vibrant Highland Park community of Los Angeles, 249 S Avenue 54. This offers a rare development opportunity with RTI (Ready-To-Issue) permits in place. The existing property features three separate bungalow homes with alley access. NO RELOCATION, THE PROPERTY IS DELIVERED FULLY VACANT. The approved plans allow for four new construction duplex structures and two detached ADUs. Upon CofO, the new owner will be able to capture six (6) additional ADUs by right. Recent code updates allow for 8 ADUs bringing the unit count to 16 total. The new project will feature (8) 5B/5B units and (8) 2B/2B ADUS, each thoughtfully designed to meet the needs of modern urban living. The building will encompass approximately 24,210 square feet on a 17,882 square foot lot, designed with contemporary finishes, energy-efficient features, a full sprinkler system, and full compliance with the latest seismic and building codes. Situated just minutes from Downtown Los Angeles, tucked in between Griffith Obervatory and the 110 Parkway, the property benefits from a strong demand for rental housing, making it ideal for families or co-living operations. The estimated annual NOI is approximately $768,903. Avenue 54 offers an outstanding opportunity to invest in a high-demand, centrally located project ready for immediate development and long-term success.

18. 2026-02-18
    price $2,590,000 1396-char remark

    Show marketing remark (1396 chars)

    12 Unit RTI project with alley access. Located in the vibrant Highland Park community of Los Angeles, 249 S Avenue 54. This offers a rare development opportunity with RTI (Ready-To-Issue) permits in place. The existing property features three separate bungalow homes with alley access. NO RELOCATION, THE PROPERTY IS DELIVERED FULLY VACANT. The approved plans allow for four new construction duplex structures and two detached ADUs. Upon CofO, the new owner will be able to capture six (6) additional ADUs by right. Recent code updates allow for 8 ADUs bringing the unit count to 16 total. The new project will feature (8) 5B/5B units and (8) 2B/2B ADUS, each thoughtfully designed to meet the needs of modern urban living. The building will encompass approximately 24,210 square feet on a 17,882 square foot lot, designed with contemporary finishes, energy-efficient features, a full sprinkler system, and full compliance with the latest seismic and building codes. Situated just minutes from Downtown Los Angeles, tucked in between Griffith Obervatory and the 110 Parkway, the property benefits from a strong demand for rental housing, making it ideal for families or co-living operations. The estimated annual NOI is approximately $768,903. Avenue 54 offers an outstanding opportunity to invest in a high-demand, centrally located project ready for immediate development and long-term success.

19. 2026-02-11
    price $2,690,000 1396-char remark

    Show marketing remark (1396 chars)

    12 Unit RTI project with alley access. Located in the vibrant Highland Park community of Los Angeles, 249 S Avenue 54. This offers a rare development opportunity with RTI (Ready-To-Issue) permits in place. The existing property features three separate bungalow homes with alley access. NO RELOCATION, THE PROPERTY IS DELIVERED FULLY VACANT. The approved plans allow for four new construction duplex structures and two detached ADUs. Upon CofO, the new owner will be able to capture six (6) additional ADUs by right. Recent code updates allow for 8 ADUs bringing the unit count to 16 total. The new project will feature (8) 5B/5B units and (8) 2B/2B ADUS, each thoughtfully designed to meet the needs of modern urban living. The building will encompass approximately 24,210 square feet on a 17,882 square foot lot, designed with contemporary finishes, energy-efficient features, a full sprinkler system, and full compliance with the latest seismic and building codes. Situated just minutes from Downtown Los Angeles, tucked in between Griffith Obervatory and the 110 Parkway, the property benefits from a strong demand for rental housing, making it ideal for families or co-living operations. The estimated annual NOI is approximately $768,903. Avenue 54 offers an outstanding opportunity to invest in a high-demand, centrally located project ready for immediate development and long-term success.

20. 2026-02-04
    price $2,790,000 1396-char remark

    Show marketing remark (1396 chars)

    12 Unit RTI project with alley access. Located in the vibrant Highland Park community of Los Angeles, 249 S Avenue 54. This offers a rare development opportunity with RTI (Ready-To-Issue) permits in place. The existing property features three separate bungalow homes with alley access. NO RELOCATION, THE PROPERTY IS DELIVERED FULLY VACANT. The approved plans allow for four new construction duplex structures and two detached ADUs. Upon CofO, the new owner will be able to capture six (6) additional ADUs by right. Recent code updates allow for 8 ADUs bringing the unit count to 16 total. The new project will feature (8) 5B/5B units and (8) 2B/2B ADUS, each thoughtfully designed to meet the needs of modern urban living. The building will encompass approximately 24,210 square feet on a 17,882 square foot lot, designed with contemporary finishes, energy-efficient features, a full sprinkler system, and full compliance with the latest seismic and building codes. Situated just minutes from Downtown Los Angeles, tucked in between Griffith Obervatory and the 110 Parkway, the property benefits from a strong demand for rental housing, making it ideal for families or co-living operations. The estimated annual NOI is approximately $768,903. Avenue 54 offers an outstanding opportunity to invest in a high-demand, centrally located project ready for immediate development and long-term success.

21. 2026-01-22
    price $2,795,000 1396-char remark

    Show marketing remark (1396 chars)

    12 Unit RTI project with alley access. Located in the vibrant Highland Park community of Los Angeles, 249 S Avenue 54. This offers a rare development opportunity with RTI (Ready-To-Issue) permits in place. The existing property features three separate bungalow homes with alley access. NO RELOCATION, THE PROPERTY IS DELIVERED FULLY VACANT. The approved plans allow for four new construction duplex structures and two detached ADUs. Upon CofO, the new owner will be able to capture six (6) additional ADUs by right. Recent code updates allow for 8 ADUs bringing the unit count to 16 total. The new project will feature (8) 5B/5B units and (8) 2B/2B ADUS, each thoughtfully designed to meet the needs of modern urban living. The building will encompass approximately 24,210 square feet on a 17,882 square foot lot, designed with contemporary finishes, energy-efficient features, a full sprinkler system, and full compliance with the latest seismic and building codes. Situated just minutes from Downtown Los Angeles, tucked in between Griffith Obervatory and the 110 Parkway, the property benefits from a strong demand for rental housing, making it ideal for families or co-living operations. The estimated annual NOI is approximately $768,903. Avenue 54 offers an outstanding opportunity to invest in a high-demand, centrally located project ready for immediate development and long-term success.

22. 2025-12-29
    price $2,800,000 1396-char remark

    Show marketing remark (1396 chars)

    12 Unit RTI project with alley access. Located in the vibrant Highland Park community of Los Angeles, 249 S Avenue 54. This offers a rare development opportunity with RTI (Ready-To-Issue) permits in place. The existing property features three separate bungalow homes with alley access. NO RELOCATION, THE PROPERTY IS DELIVERED FULLY VACANT. The approved plans allow for four new construction duplex structures and two detached ADUs. Upon CofO, the new owner will be able to capture six (6) additional ADUs by right. Recent code updates allow for 8 ADUs bringing the unit count to 16 total. The new project will feature (8) 5B/5B units and (8) 2B/2B ADUS, each thoughtfully designed to meet the needs of modern urban living. The building will encompass approximately 24,210 square feet on a 17,882 square foot lot, designed with contemporary finishes, energy-efficient features, a full sprinkler system, and full compliance with the latest seismic and building codes. Situated just minutes from Downtown Los Angeles, tucked in between Griffith Obervatory and the 110 Parkway, the property benefits from a strong demand for rental housing, making it ideal for families or co-living operations. The estimated annual NOI is approximately $768,903. Avenue 54 offers an outstanding opportunity to invest in a high-demand, centrally located project ready for immediate development and long-term success.

23. 2025-12-26
    price $2,825,000 1396-char remark

    Show marketing remark (1396 chars)

    12 Unit RTI project with alley access. Located in the vibrant Highland Park community of Los Angeles, 249 S Avenue 54. This offers a rare development opportunity with RTI (Ready-To-Issue) permits in place. The existing property features three separate bungalow homes with alley access. NO RELOCATION, THE PROPERTY IS DELIVERED FULLY VACANT. The approved plans allow for four new construction duplex structures and two detached ADUs. Upon CofO, the new owner will be able to capture six (6) additional ADUs by right. Recent code updates allow for 8 ADUs bringing the unit count to 16 total. The new project will feature (8) 5B/5B units and (8) 2B/2B ADUS, each thoughtfully designed to meet the needs of modern urban living. The building will encompass approximately 24,210 square feet on a 17,882 square foot lot, designed with contemporary finishes, energy-efficient features, a full sprinkler system, and full compliance with the latest seismic and building codes. Situated just minutes from Downtown Los Angeles, tucked in between Griffith Obervatory and the 110 Parkway, the property benefits from a strong demand for rental housing, making it ideal for families or co-living operations. The estimated annual NOI is approximately $768,903. Avenue 54 offers an outstanding opportunity to invest in a high-demand, centrally located project ready for immediate development and long-term success.

24. 2025-12-22
    price $2,830,000 1396-char remark

    Show marketing remark (1396 chars)

    12 Unit RTI project with alley access. Located in the vibrant Highland Park community of Los Angeles, 249 S Avenue 54. This offers a rare development opportunity with RTI (Ready-To-Issue) permits in place. The existing property features three separate bungalow homes with alley access. NO RELOCATION, THE PROPERTY IS DELIVERED FULLY VACANT. The approved plans allow for four new construction duplex structures and two detached ADUs. Upon CofO, the new owner will be able to capture six (6) additional ADUs by right. Recent code updates allow for 8 ADUs bringing the unit count to 16 total. The new project will feature (8) 5B/5B units and (8) 2B/2B ADUS, each thoughtfully designed to meet the needs of modern urban living. The building will encompass approximately 24,210 square feet on a 17,882 square foot lot, designed with contemporary finishes, energy-efficient features, a full sprinkler system, and full compliance with the latest seismic and building codes. Situated just minutes from Downtown Los Angeles, tucked in between Griffith Obervatory and the 110 Parkway, the property benefits from a strong demand for rental housing, making it ideal for families or co-living operations. The estimated annual NOI is approximately $768,903. Avenue 54 offers an outstanding opportunity to invest in a high-demand, centrally located project ready for immediate development and long-term success.

25. 2025-12-15
    price $2,835,000 1396-char remark

    Show marketing remark (1396 chars)

    12 Unit RTI project with alley access. Located in the vibrant Highland Park community of Los Angeles, 249 S Avenue 54. This offers a rare development opportunity with RTI (Ready-To-Issue) permits in place. The existing property features three separate bungalow homes with alley access. NO RELOCATION, THE PROPERTY IS DELIVERED FULLY VACANT. The approved plans allow for four new construction duplex structures and two detached ADUs. Upon CofO, the new owner will be able to capture six (6) additional ADUs by right. Recent code updates allow for 8 ADUs bringing the unit count to 16 total. The new project will feature (8) 5B/5B units and (8) 2B/2B ADUS, each thoughtfully designed to meet the needs of modern urban living. The building will encompass approximately 24,210 square feet on a 17,882 square foot lot, designed with contemporary finishes, energy-efficient features, a full sprinkler system, and full compliance with the latest seismic and building codes. Situated just minutes from Downtown Los Angeles, tucked in between Griffith Obervatory and the 110 Parkway, the property benefits from a strong demand for rental housing, making it ideal for families or co-living operations. The estimated annual NOI is approximately $768,903. Avenue 54 offers an outstanding opportunity to invest in a high-demand, centrally located project ready for immediate development and long-term success.

26. 2025-12-10
    price $2,840,000 1396-char remark

    Show marketing remark (1396 chars)

    12 Unit RTI project with alley access. Located in the vibrant Highland Park community of Los Angeles, 249 S Avenue 54. This offers a rare development opportunity with RTI (Ready-To-Issue) permits in place. The existing property features three separate bungalow homes with alley access. NO RELOCATION, THE PROPERTY IS DELIVERED FULLY VACANT. The approved plans allow for four new construction duplex structures and two detached ADUs. Upon CofO, the new owner will be able to capture six (6) additional ADUs by right. Recent code updates allow for 8 ADUs bringing the unit count to 16 total. The new project will feature (8) 5B/5B units and (8) 2B/2B ADUS, each thoughtfully designed to meet the needs of modern urban living. The building will encompass approximately 24,210 square feet on a 17,882 square foot lot, designed with contemporary finishes, energy-efficient features, a full sprinkler system, and full compliance with the latest seismic and building codes. Situated just minutes from Downtown Los Angeles, tucked in between Griffith Obervatory and the 110 Parkway, the property benefits from a strong demand for rental housing, making it ideal for families or co-living operations. The estimated annual NOI is approximately $768,903. Avenue 54 offers an outstanding opportunity to invest in a high-demand, centrally located project ready for immediate development and long-term success.

27. 2025-12-01
    price $2,850,000 1396-char remark

    Show marketing remark (1396 chars)

    12 Unit RTI project with alley access. Located in the vibrant Highland Park community of Los Angeles, 249 S Avenue 54. This offers a rare development opportunity with RTI (Ready-To-Issue) permits in place. The existing property features three separate bungalow homes with alley access. NO RELOCATION, THE PROPERTY IS DELIVERED FULLY VACANT. The approved plans allow for four new construction duplex structures and two detached ADUs. Upon CofO, the new owner will be able to capture six (6) additional ADUs by right. Recent code updates allow for 8 ADUs bringing the unit count to 16 total. The new project will feature (8) 5B/5B units and (8) 2B/2B ADUS, each thoughtfully designed to meet the needs of modern urban living. The building will encompass approximately 24,210 square feet on a 17,882 square foot lot, designed with contemporary finishes, energy-efficient features, a full sprinkler system, and full compliance with the latest seismic and building codes. Situated just minutes from Downtown Los Angeles, tucked in between Griffith Obervatory and the 110 Parkway, the property benefits from a strong demand for rental housing, making it ideal for families or co-living operations. The estimated annual NOI is approximately $768,903. Avenue 54 offers an outstanding opportunity to invest in a high-demand, centrally located project ready for immediate development and long-term success.

28. 2025-11-21
    price $2,870,000 1396-char remark

    Show marketing remark (1396 chars)

    12 Unit RTI project with alley access. Located in the vibrant Highland Park community of Los Angeles, 249 S Avenue 54. This offers a rare development opportunity with RTI (Ready-To-Issue) permits in place. The existing property features three separate bungalow homes with alley access. NO RELOCATION, THE PROPERTY IS DELIVERED FULLY VACANT. The approved plans allow for four new construction duplex structures and two detached ADUs. Upon CofO, the new owner will be able to capture six (6) additional ADUs by right. Recent code updates allow for 8 ADUs bringing the unit count to 16 total. The new project will feature (8) 5B/5B units and (8) 2B/2B ADUS, each thoughtfully designed to meet the needs of modern urban living. The building will encompass approximately 24,210 square feet on a 17,882 square foot lot, designed with contemporary finishes, energy-efficient features, a full sprinkler system, and full compliance with the latest seismic and building codes. Situated just minutes from Downtown Los Angeles, tucked in between Griffith Obervatory and the 110 Parkway, the property benefits from a strong demand for rental housing, making it ideal for families or co-living operations. The estimated annual NOI is approximately $768,903. Avenue 54 offers an outstanding opportunity to invest in a high-demand, centrally located project ready for immediate development and long-term success.

29. 2025-11-11
    price $2,880,000 1396-char remark

    Show marketing remark (1396 chars)

    12 Unit RTI project with alley access. Located in the vibrant Highland Park community of Los Angeles, 249 S Avenue 54. This offers a rare development opportunity with RTI (Ready-To-Issue) permits in place. The existing property features three separate bungalow homes with alley access. NO RELOCATION, THE PROPERTY IS DELIVERED FULLY VACANT. The approved plans allow for four new construction duplex structures and two detached ADUs. Upon CofO, the new owner will be able to capture six (6) additional ADUs by right. Recent code updates allow for 8 ADUs bringing the unit count to 16 total. The new project will feature (8) 5B/5B units and (8) 2B/2B ADUS, each thoughtfully designed to meet the needs of modern urban living. The building will encompass approximately 24,210 square feet on a 17,882 square foot lot, designed with contemporary finishes, energy-efficient features, a full sprinkler system, and full compliance with the latest seismic and building codes. Situated just minutes from Downtown Los Angeles, tucked in between Griffith Obervatory and the 110 Parkway, the property benefits from a strong demand for rental housing, making it ideal for families or co-living operations. The estimated annual NOI is approximately $768,903. Avenue 54 offers an outstanding opportunity to invest in a high-demand, centrally located project ready for immediate development and long-term success.

30. 2025-11-06
    price $2,885,000 1396-char remark

    Show marketing remark (1396 chars)

    12 Unit RTI project with alley access. Located in the vibrant Highland Park community of Los Angeles, 249 S Avenue 54. This offers a rare development opportunity with RTI (Ready-To-Issue) permits in place. The existing property features three separate bungalow homes with alley access. NO RELOCATION, THE PROPERTY IS DELIVERED FULLY VACANT. The approved plans allow for four new construction duplex structures and two detached ADUs. Upon CofO, the new owner will be able to capture six (6) additional ADUs by right. Recent code updates allow for 8 ADUs bringing the unit count to 16 total. The new project will feature (8) 5B/5B units and (8) 2B/2B ADUS, each thoughtfully designed to meet the needs of modern urban living. The building will encompass approximately 24,210 square feet on a 17,882 square foot lot, designed with contemporary finishes, energy-efficient features, a full sprinkler system, and full compliance with the latest seismic and building codes. Situated just minutes from Downtown Los Angeles, tucked in between Griffith Obervatory and the 110 Parkway, the property benefits from a strong demand for rental housing, making it ideal for families or co-living operations. The estimated annual NOI is approximately $768,903. Avenue 54 offers an outstanding opportunity to invest in a high-demand, centrally located project ready for immediate development and long-term success.

31. 2025-10-20
    price $2,895,000 1396-char remark

    Show marketing remark (1396 chars)

    12 Unit RTI project with alley access. Located in the vibrant Highland Park community of Los Angeles, 249 S Avenue 54. This offers a rare development opportunity with RTI (Ready-To-Issue) permits in place. The existing property features three separate bungalow homes with alley access. NO RELOCATION, THE PROPERTY IS DELIVERED FULLY VACANT. The approved plans allow for four new construction duplex structures and two detached ADUs. Upon CofO, the new owner will be able to capture six (6) additional ADUs by right. Recent code updates allow for 8 ADUs bringing the unit count to 16 total. The new project will feature (8) 5B/5B units and (8) 2B/2B ADUS, each thoughtfully designed to meet the needs of modern urban living. The building will encompass approximately 24,210 square feet on a 17,882 square foot lot, designed with contemporary finishes, energy-efficient features, a full sprinkler system, and full compliance with the latest seismic and building codes. Situated just minutes from Downtown Los Angeles, tucked in between Griffith Obervatory and the 110 Parkway, the property benefits from a strong demand for rental housing, making it ideal for families or co-living operations. The estimated annual NOI is approximately $768,903. Avenue 54 offers an outstanding opportunity to invest in a high-demand, centrally located project ready for immediate development and long-term success.

32. 2025-09-09
    listed $2,995,000 Active 1396-char remark

    Show marketing remark (1396 chars)

    12 Unit RTI project with alley access. Located in the vibrant Highland Park community of Los Angeles, 249 S Avenue 54. This offers a rare development opportunity with RTI (Ready-To-Issue) permits in place. The existing property features three separate bungalow homes with alley access. NO RELOCATION, THE PROPERTY IS DELIVERED FULLY VACANT. The approved plans allow for four new construction duplex structures and two detached ADUs. Upon CofO, the new owner will be able to capture six (6) additional ADUs by right. Recent code updates allow for 8 ADUs bringing the unit count to 16 total. The new project will feature (8) 5B/5B units and (8) 2B/2B ADUS, each thoughtfully designed to meet the needs of modern urban living. The building will encompass approximately 24,210 square feet on a 17,882 square foot lot, designed with contemporary finishes, energy-efficient features, a full sprinkler system, and full compliance with the latest seismic and building codes. Situated just minutes from Downtown Los Angeles, tucked in between Griffith Obervatory and the 110 Parkway, the property benefits from a strong demand for rental housing, making it ideal for families or co-living operations. The estimated annual NOI is approximately $768,903. Avenue 54 offers an outstanding opportunity to invest in a high-demand, centrally located project ready for immediate development and long-term success.

33. 2021-12-27
    soldstatus $1,276,000 Closed Sale 420-char remark

    Show marketing remark (420 chars)

    Three houses on a lot in the heart of Highland Park on almost a half acre lot. Tucked in between the Griffith Observatory and the 110 Parkway, you are minutes away from DTLA, the metro station, hiking trails, dog parks, and all the restaurants and entertainment. Please check with the City of Los Angeles there may be an opportunity to build additional units on lot. This property is ready for development or renovation.

34. 2021-12-27
    soldstatus $1,276,000

    Show marketing remark (420 chars)

    Three houses on a lot in the heart of Highland Park on almost a half acre lot. Tucked in between the Griffith Observatory and the 110 Parkway, you are minutes away from DTLA, the metro station, hiking trails, dog parks, and all the restaurants and entertainment. Please check with the City of Los Angeles there may be an opportunity to build additional units on lot. This property is ready for development or renovation.

35. 2021-12-20
    status Pending Sale 420-char remark

    Show marketing remark (420 chars)

    Three houses on a lot in the heart of Highland Park on almost a half acre lot. Tucked in between the Griffith Observatory and the 110 Parkway, you are minutes away from DTLA, the metro station, hiking trails, dog parks, and all the restaurants and entertainment. Please check with the City of Los Angeles there may be an opportunity to build additional units on lot. This property is ready for development or renovation.

36. 2021-12-01
    historical Active Under Contract 420-char remark

    Show marketing remark (420 chars)

    Three houses on a lot in the heart of Highland Park on almost a half acre lot. Tucked in between the Griffith Observatory and the 110 Parkway, you are minutes away from DTLA, the metro station, hiking trails, dog parks, and all the restaurants and entertainment. Please check with the City of Los Angeles there may be an opportunity to build additional units on lot. This property is ready for development or renovation.

37. 2021-10-28
    listed $960,000 Active 420-char remark

    Show marketing remark (420 chars)

    Three houses on a lot in the heart of Highland Park on almost a half acre lot. Tucked in between the Griffith Observatory and the 110 Parkway, you are minutes away from DTLA, the metro station, hiking trails, dog parks, and all the restaurants and entertainment. Please check with the City of Los Angeles there may be an opportunity to build additional units on lot. This property is ready for development or renovation.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $16,798 · $1,400/mo
• Projected year-2 tax: $18,620 · $1,552/mo
• Expected delta: +$1,822/yr (+$152/mo · 10.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥96°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 11 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $712,992
• − Mortgage interest: −$137,238
• − Property taxes: −$16,798
• − Insurance: −$12,250
• − Repairs & maintenance: −$57,039
• − Management: −$57,039
• − Depreciation: −$71,273
• Taxable income: $361,354
• Est. tax owed @ 24.0%: −$86,725
• After-tax cash flow: $293,314/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Los Angeles Unified
• NCES district ID: 0622710
• Math proficiency: 29% ▼ -4.00%
• Reading proficiency: 54% ▲ 10.00%
• Median HH income: $50,403
• Composite: 35.67/100
• National rank: #4875
• State rank: #223 of 517 in CA

Livability — Los Angeles

• Score: 68/100
• State rank: #273
• US rank: #9237

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment B Housing B- Health & safety C- User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Los Angeles, CA
• County: Los Angeles County · 9,444,647 people
• City population: 3,838,149
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 56,835
• Household income: $95,282
• Rent vs Own: 52.6% rent · 47.4% own
• Severe rent burden: 2699.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Hispanic / Latino 56% White 24% Two or more races 22% Asian 13% Native American 3% Black 2%
• Hispanic origin (detail): Mexican 41%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 1%
• Foreign-born: 36% · Canada, China, South Korea
• Languages at home: 40% English-only · Spanish 47% Tagalog/Filipino 5% Chinese 2%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1816.99%
• Current HPI: 637.0324
• Rent YoY: ▲ 1.34%
• Metro: Los Angeles-Long Beach-Anaheim, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+155.2% since first listed

23 events — show timeline

• 2026-05-19 Price Changed $2,450,000 CRMLS
• 2026-03-24 Price Changed $2,550,000 CRMLS
• 2026-03-17 Price Changed $2,575,000 CRMLS
• 2026-02-18 Price Changed $2,590,000 CRMLS
• 2026-02-11 Price Changed $2,690,000 CRMLS
• 2026-02-04 Price Changed $2,790,000 CRMLS
• 2026-01-22 Price Changed $2,795,000 CRMLS
• 2025-12-29 Price Changed $2,800,000 CRMLS
• 2025-12-26 Price Changed $2,825,000 CRMLS
• 2025-12-22 Price Changed $2,830,000 CRMLS
• 2025-12-15 Price Changed $2,835,000 CRMLS
• 2025-12-10 Price Changed $2,840,000 CRMLS
• 2025-12-01 Price Changed $2,850,000 CRMLS
• 2025-11-21 Price Changed $2,870,000 CRMLS
• 2025-11-11 Price Changed $2,880,000 CRMLS
• 2025-11-06 Price Changed $2,885,000 CRMLS
• 2025-10-20 Price Changed $2,895,000 CRMLS
• 2025-09-09 Listed $2,995,000 CRMLS
• 2021-12-27 Sold (Public Records) $1,276,000 Public Records
• 2021-12-27 Sold (MLS) $1,276,000 CRMLS
• 2021-12-20 Pending — CRMLS
• 2021-12-01 Contingent — CRMLS
• 2021-10-28 Listed $960,000 CRMLS

Property tax history

+16.4%/yr

Latest (2025): $16,798 · +1.2% YoY. Source: county tax records.