1279 N Hicks Drive, East Los Angeles, California 90063, East Los Angeles, 90063 - 5 bed, 2 bath
ACTIVE$420,000
1279 N Hicks Drive, East Los Angeles, California 90063
5Beds
2Baths
1,238Sqft
5,875Lot
Year Built
1928
Close
-
List price
$420K
Original List price
$625K
Price/Sqft
$339
HOA
-
Days on market
-
Sold On
-
MLS number
PTP2502616
Home ConditionTear down
Features
Excellent View:
Patio
View
About this home
We found 3 Cons,5 Pros. Rank: price - $420.0K(6th), sqft - 1238(67th), beds - 5(92th), baths - 2(50th).
Roll up your sleeves, bring your tools and imagination.This blank canvas is perfect for those CASH-ONLY OFFERS looking to build something new in East LA with views of Downtown.
Price History
Date
Event
Price
06/13/16
Sold
$397,000
Condition Rating
Tear down
Built in 1928, this property is nearly a century old with no evidence of major renovations in the past 50 years. The listing description explicitly calls it a 'blank canvas' for those 'looking to build something new' and requires 'CASH-ONLY OFFERS,' indicating it's unlikely to qualify for traditional financing due to its condition. The kitchen and bathroom are extremely dated and show significant wear, requiring full replacement. Interior images reveal worn flooring, outdated fixtures, and even bare concrete in some areas, suggesting the structure is beyond practical repair for a typical renovation and its value is primarily in the land and redevelopment potential.
Pros & Cons
Pros
Panoramic Downtown Views: The property offers desirable views of Downtown Los Angeles, a significant premium feature that enhances its appeal and potential value.
Significant Redevelopment Potential: Described as a 'blank canvas' perfect for those 'looking to build something new,' indicating strong potential for a custom renovation, expansion, or complete redevelopment.
Generous Lot Size: A 5875 sqft lot provides ample space for potential expansion, landscaping, or the addition of an Accessory Dwelling Unit (ADU), enhancing future value.
Strategic East LA Location: Situated in East Los Angeles, a dynamic and appreciating area with convenient access to downtown and other major urban centers.
Attractive Investment Entry Point: The substantial price reduction from the original list price suggests a motivated seller and positions the property as a compelling opportunity for investors or owner-builders willing to undertake significant work.
Cons
Cash-Only Transaction: The requirement for cash-only offers drastically narrows the potential buyer pool and indicates the property likely does not qualify for traditional financing due to its current condition.
Extensive Renovation/Reconstruction Needed: The description explicitly states it requires buyers to 'roll up your sleeves, bring your tools and imagination,' signifying the property is a major fixer-upper or tear-down project.
Advanced Age and Potential System Obsolescence: Built in 1928, the property is nearly a century old, suggesting a high likelihood of outdated infrastructure, systems (plumbing, electrical), and potential for costly repairs or replacements.