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Your mom's shack is a scraper. Few buyers would want it. They could get better, new construction of same sq footage for $140K, maybe less in today's depressed building industry.
That makes your mom's hovel & lot worth at most $550K, assuming anyone would want to keep the falling-down eyesore.
take a look at
5310 w 82nd (565k)
7432 w 85th (550k)
6507 w 85th (549k)
That's what I'm talkin' about.
Fatso lives in a dream world, even more so than most losers in LA.
The one high end outlier means only that it's possible to upgrade your property, at cost you may or may not recoup, based on lucking out with the right buyer.