1026 S Victoria Avenue, Los Angeles, California 90019, Los Angeles, 90019 - 2 bed, 2 bath
ACTIVE$1,390,000
1026 S Victoria Avenue, Los Angeles, California 90019
2Beds
2Baths
1,462Sqft
8,585Lot
Year Built
1920
Close
-
List price
$1.39M
Original List price
$1.39M
Price/Sqft
$951
HOA
-
Days on market
-
Sold On
-
MLS number
PF25050974
Home ConditionPoor
Features
ViewPeek-A-Boo
About this home
Possibly Over-Priced:The estimated price is 28% below the list price. We found 3 Cons,6 Pros. Rank: price - $1.39M(50th), sqft - 1462(37th), beds - 2(20th), baths - 2(50th).
The home features two spacious bedrooms, two bathrooms, and a versatile bonus room with its exterior door connected internally through the second bedroom. A detached garage and gated driveway provide added convenience and security. *** Investor’s Dream Opportunity *** Situated on an exceptionally rare 8,500+ SF lot—one of the largest in the neighborhood—this property offers incredible potential. With Tier 3 TOC zoning, the possibilities are wide open: build a legal duplex with separate addresses, add an ADU, or explore other high-value development options.
Price History
Date
Event
Price
02/26/18
Sold
$1,040,000
Condition Rating
Poor
Built in 1920, this property is explicitly marketed as an 'Investor’s Dream Opportunity' due to its lot and zoning, with the property analysis stating 'Significant Renovation Required.' This indicates substantial repairs and modernization are needed throughout the home. The absence of interior images, especially for the kitchen and bathrooms, strongly suggests these areas are severely outdated and require a complete overhaul, aligning with the 'poor' condition criteria.
Pros & Cons
Pros
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8585, living area = 1462.
Exceptional Development Potential: The property's Tier 3 TOC zoning on an exceptionally large 8,500+ SF lot offers significant development opportunities, including building a legal duplex with separate addresses or adding an ADU, maximizing future value.
Generous Lot Size: With an 8,500+ SF lot, one of the largest in the neighborhood, the property provides ample space for expansion, landscaping, or additional structures, enhancing its long-term appeal.
Strategic Location: Situated in the desirable C18 - Hancock Park-Wilshire MLS area, the property benefits from a central and sought-after Los Angeles address with strong market demand.
Versatile Bonus Room: The inclusion of a versatile bonus room with its own exterior door offers flexibility for various uses, such as a home office, guest suite, or potential for a separate living space.
Convenient Parking & Security: A detached garage and gated driveway provide added convenience, privacy, and security, which are valuable amenities in an urban setting.
Cons
Significant Renovation Required: Built in 1920 and marketed as an 'Investor’s Dream Opportunity,' the property likely requires substantial renovation and modernization to meet current market expectations and command its list price.
Aggressive Pricing: The list price of $1.39M is significantly higher than the property's estimated value ($999,755) and comparable renovated properties, suggesting it may be overpriced given its current condition and need for updates.
Limited View: The 'Peek-A-Boo' view indicates that the property does not offer expansive or desirable scenic views, which could be a drawback for buyers seeking premium vistas.