NOT LISTED FOR SALE

3031 Buckingham Rd Los Angeles, CA 90016

West Adams Neighborhood

Estimated Value: $946,000 - $1,068,604

0.15 Acre
$6,597,624 Price per Acre
6,580 Sq Ft Lot

Last Sold January 30, 2025

Last sale price $980,000 $785 Per Sq Ft

Est. 2% increase in value since last sale

Current estimated payment $6,392/month

67 Days on Market

About This Lot

As of January 2025

Prime Development Opportunity in West Adams 3031 Buckingham Rd, Los Angeles, CA 90016: Attention Developers and Investors! This is an exceptional opportunity to acquire a 6,580 sq ft flat lot in the heart of the booming West Adams neighborhood, offering endless possibilities for a profitable fourplex or more development. The property is zoned LARD RD1.5-1, providing favorable zoning for maximizing density and affordable housing bonuses. Situated just steps away from West Adams Boulevard, this lot is within walking distance of some of the city's most popular dining spots, boutique shops, and social clubs, including Tartine, Mizlala, Alta Adams, The Gathering Spot LA, and more. This makes it a highly desirable location for future residents who want to experience the vibrant local lifestyle.For developers looking to sell off units as Tenancies in Common (TIC), this property presents a prime opportunity. Similar TIC projects in the area have shown remarkable success. Additionally, with the property located in an Opportunity Zone, there are significant tax benefits and incentives available, making it an attractive investment.Key Features: 6,580 sq ft flat lot with ideal zoning for multi-unit development, LARD RD1.5-1, zoning allows for increased density and affordable housing incentives, Prime West Adams location close to high-end dining, shopping, and entertainment, Ideal for TIC or rental property development in an area with strong demand Opportunity Zone benefits for long-term tax advantages, Proximity to major employment centers and transportation corridors. This is a rare chance to develop in one of Los Angeles' fastest-growing neighborhoods, with high rental demand and strong appreciation potential. Buyer to verify all information and conduct due diligence regarding the development possibilities. Don't miss out on creating a landmark project in one of LA's most sought-after areas!

Last Agent to Sell the Property

Joseph Norfleet

Bankers Realty Exclusive, Inc. License #01304280 Listed on: 09/09/2024

Last Buyer's Agent

Danny Navarro

Century 21 Allstars License #01938421

Century 21 Allstars

Property Details

Property Type

  • Land

Est. Annual Taxes

  • $10,438

Lot Details

  • 6,580 Sq Ft Lot
  • Lot Dimensions are 47x140
  • Level Lot
  • Property is zoned LARD1.5

Listing and Financial Details

  • Assessor Parcel Number 5050-026-047

Property Details

Property Type

Land

Est. Annual Taxes

$10,438

Lot Details

0

Listing Details

  • Property Type: Land
  • Street Number Display: Yes
  • Additional Assessor Parcel Numbers: No
  • Advertising Remarks: Prime Development Opportunity in West Adams. Attention Developers and Investors! This is an exceptional opportunity to acquire a 6,580 sq ft flat lot in the heart of the booming West Adams neighborhood, offering endless possibilities for a profitable fourplex or more development. The property is zoned LARD RD1.5-1, providing favorable zoning for maximizing density and affordable housing bonuses. Situated just steps away from West Adams Boulevard, this lot is within walking distance of some of the city's most popular dining spots, boutique shops, and social clubs, including Tartine, Mizlala, Alta Adams, The Gathering Spot LA, and more. This makes it a highly desirable location for future residents who want to experience the vibrant local lifestyle. All offers will be review on 9/19/2024 1pm.
  • Lot Acreage: 0.1511
  • Lot Dimensions: 47x140
  • Probate: No
  • Survey: Buyer Pays
  • Number Of Photos: 1
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: LotsLands

Exterior Features

  • Public Street: Yes
  • Street Description: Asphalt
  • View: No

Utilities

  • Cable: No
  • Telephone: No

Schools

  • School District: Los Angeles Unified

Lot Info

  • Horses: No
  • Assessor Parcel Number: 5050-026-047
  • Lot Size Area: 6580
  • Site Decription: Flats
  • Topography: Flat
  • Usable Land Percent: 100.00

Rental Info

  • Land Lease Type: Fee

MLS Schools

  • School District: Los Angeles Unified

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 9, 2024
Closed on
Dec 17, 2024
Sold by
Leroy J Mathews Living Trust and Porter Leland J
Bought by
Gi Property 99 Llc
Seller's Agent
Joseph Norfleet
Bankers Realty Exclusive, Inc.
Buyer's Agent
Danny Navarro
Century 21 Allstars
List Price
$1,000,000
Sold Price
$980,000
Premium/Discount to List
-$20,000
-2%
Views
6
Current Estimated Value
$996,901

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$16,901
Avg. Annual Appreciation
3.96%
Original Mortgage
$588,000
Outstanding Balance
$586,464
Interest Rate
6.72%
Mortgage Type
New Conventional
Estimated Equity
$410,437

Purchase Details

Closed on
Sep 27, 2014
Sold by
Community Redevelopment Of Los Angeles
Bought by
C R L A Municipal Maintenance Co

Purchase Details

Closed on
Oct 5, 2007
Sold by
Mathews Le Roy J and Lovell C Moore Trust
Bought by
Mathews Le Roy J and Le Roy J Mathews Living Trust
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Gi Property 99 Llc $980,000 Lawyers Title Insurance Compan
C R L A Municipal Maintenance Co -- None Available
Mathews Le Roy J -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Gi Property 99 Llc $588,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
01/30/2025 01/30/25 Sold $980,000 -2.0% $785 / Sq Ft
11/15/2024 11/15/24 Pending -- -- --
09/09/2024 09/09/24 For Sale $1,000,000 -- $801 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $10,438 $847,037 $847,037 --
2023 $10,240 $830,429 $830,429 $0
2022 $9,768 $814,147 $814,147 $0
2021 $7,882 $647,992 $515,728 $132,264
2019 $7,648 $628,774 $500,432 $128,342
2018 $7,581 $616,446 $490,620 $125,826
2016 $5,839 $474,000 $377,000 $97,000
2015 $5,840 $474,000 $377,000 $97,000
2014 $4,895 $385,000 $306,000 $79,000
Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2025

    Joseph Norfleet

    Bankers Realty Exclusive, Inc.

    Section Image
  • Danny Navarro

    Buyer's Agent in 2025

    Danny Navarro

    Century 21 Allstars

    (562) 513-7800

    1 in this area

    112 Total Sales

    Danny Navarro
    Section Image
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Map

Source: The MLS

MLS Number: 24-437751

The MLS

APN: 5050-026-047

California Los Angeles County Los Angeles 90016 West Adams

3031 Buckingham Rd, Los Angeles, CA

This home is located at 3031 Buckingham Rd, Los Angeles, CA 90016 since 09 September 2024 and is currently estimated at $996,901, approximately $798 per square foot. 3031 Buckingham Rd is a home located in Los Angeles County with nearby schools including Virginia Road Elementary School, Johnnie L. Cochran Jr. Middle School, and Susan Miller Dorsey Senior High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

The MLS © 2025 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW). All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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