849 3rd Ave, Los Angeles, CA 90005

Property Description

Wilshire Park opportunity with tremendous upside! Located on one of the most desirable tree-lined streets in historic Wilshire Park HPOZ, this classic 1922 character home offers 4 bedrooms, 3 bathrooms, approximately 2,036 sq. ft. of living space on an oversized nearly 10,000 sq. ft. lot with a private pool an increasingly rare find in this central Los Angeles location. Public records show a 9,976 sq. ft. lot and strong surrounding home values, making this an exceptional value-add opportunity for investors and owner-users alike. This is ideal for buyers looking to customize, renovate, expand, or reposition for significant equity growth. The spacious backyard and pool create endless possibilities for luxury outdoor living, ADU potential (buyer to verify), or a premium resale strategy. Surrounded by larger renovated homes and strong comparable sales in the $1.5M$1.9M+ range, this property presents a rare chance to secure a prime asset below replacement cost. Nearby access to Larchmont Village, Koreatown, Downtown Los Angeles, and major studios makes this location highly attractive for both homeowners and long-term investors. Perfect for savvy investors seeking flip or hold opportunities, as well as regular homebuyers wanting to create their dream home in one of LA's walkable and historic residential neighborhoods. Delivered vacant, buyers to conduct own due diligence.