Lots in Mount Washington neighborhood, Los Angeles

[Samuel Gostnell]

When searching for inexpensive property in Los Angeles, (laughable, I know), I came across a neighborhood called Mount Washington. It has a great school district, low crime rate, close proximity to down town and other trendy neighborhoods. It's a little underdeveloped with lot's of open lots ready for new construction. The prices for these lots range from around 18k-80k. Does anyone know why it's so inexpensive and underdeveloped? From some preliminary research it looks like an up and coming neighborhood: http://la.curbed.com/2016/1/28/10872040/hottest-neighborhood-los-angeles-2016-mt-washington-housing-prices

Any thoughts? 

[Tim Ryan]

Great location. Area is booming. Great school district.
Those lots are extremely difficult to get permits and/or to built. I don't need addresses because I've looked at them all. I know it's a developers nightmare.
I bought 3 lots recently nearby for $308k each. That's a more reasonable price. The $18k-$80k is a huge red flag since Mt Washington is a good area. So you are on the right track to ask why.