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151 W 110th Street, Los Angeles, California 90061, Los Angeles, 90061 - 3 bed, 2 bath

151 W 110th Street, Los Angeles, California 90061 home-pic-0
ACTIVE$699,000
151 W 110th Street, Los Angeles, California 90061
3Beds
2Baths
1,376Sqft
5,322Lot
Year Built
1924
Close
-
List price
$699K
Original List price
$750K
Price/Sqft
$508
HOA
-
Days on market
-
Sold On
-
MLS number
PW24242171
Home ConditionGood
Features
Patio
View-

About this home

Possibly Over-Priced:The estimated price is 36% below the list price. We found 3 Cons,5 Pros. Rank: price - $699.0K(70th), sqft - 1376(70th), beds - 3(50th), baths - 2(50th).

R2 LOT ADD A SECOND UNIT AND ADU PLENTY OF ROOM FOR A FOR BUILD OUT, LARGE 3 BEDROOM 2 BATH HOME, OPEN FLOOR PLAN, UPDATED KITCHEN, LONG DRIVEWAY TO FIT 6 CARS, LARGE OPEN BACKYARD FOR ENTERTAINMENT, GREAT OPPORTUNITY TO BUILD A SECOND UNIT AND A ADU GREAT INCOME POTENTIAL. LOCATED SHORT DISTANCE TO LOS ANGELES DOWNTOWN, SOFI STADIUM, LAX, CRYPTO STADIUM, CLIPPER ARENA, LOCATED CLOSE TO FREEWAYS, ENTERTAINMENT, SCHOOLS, RESTAURANTS, GREAT LOCATION FOR BEING CLOSE TO ALL THE LOS ANGELES AREA ATTRACTIONS. GREAT OPPORTUNITY FOR INVESTMENT LOCATION FOR AIRBNB. ZERO DOWN AND CLOSING COSTS ASSISTANCE LOAN PROGRAM AVAILABLE

Condition Rating
Good
Built in 1924, this property features a recently updated kitchen with modern white shaker cabinets, dark countertops, stainless steel appliances, and subway tile backsplash. Both bathrooms have also been updated with contemporary vanities, fixtures, and subway tile. The interior benefits from fresh paint and updated laminate flooring, making it cosmetically move-in ready. However, given the property's age, and without explicit mention or visual evidence of comprehensive updates to major systems like plumbing, electrical, or HVAC, it does not qualify as 'Excellent' despite the significant cosmetic improvements.
Pros & Cons

Pros

R2 Zoning & ADU Potential: The R2 zoning allows for the addition of a second unit and an Accessory Dwelling Unit (ADU), offering significant potential for increased property value and rental income.
Strategic Location: Situated close to major Los Angeles attractions, employment hubs (LAX, Downtown LA), and essential amenities like freeways, schools, and restaurants, enhancing desirability and convenience.
Income Generation Opportunity: Explicitly marketed for its potential for income through a second unit, ADU, and Airbnb, appealing strongly to investors.
Updated Interior Features: Boasts an updated kitchen and an open floor plan, providing modern living comfort and reducing immediate renovation needs for key areas.
Buyer Incentive Program: The availability of a 'ZERO DOWN AND CLOSING COSTS ASSISTANCE LOAN PROGRAM' offers a significant financial advantage and broadens the pool of potential buyers.

Cons

Significant Overvaluation: The current listing price of $699,000 is substantially higher than the estimated property value of $442,610, suggesting a potential overvaluation of approximately 36%.
Unrealized ADU/Second Unit Potential: While the R2 zoning is a strength, the ADU and second unit are not yet built, requiring considerable additional investment, time, and effort from the buyer to realize the income potential.
Age of Property & Potential Maintenance: Built in 1924, the property, despite an updated kitchen, may entail higher maintenance costs or require further system upgrades (e.g., plumbing, electrical, HVAC) typical of older homes.

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