217 E 106th Street, Los Angeles, California 90003, Los Angeles, 90003 - 2 bed, 1 bath
ACTIVE$549,000
217 E 106th Street, Los Angeles, California 90003
2Beds
1Bath
996Sqft
5,402Lot
Year Built
1926
Close
-
List price
$549K
Original List price
$549K
Price/Sqft
$551
HOA
-
Days on market
-
Sold On
-
MLS number
CV24230332
Home ConditionPoor
Features
Patio
View-
About this home
Possibly Over-Priced:The estimated price is 29% below the list price. We found 3 Cons,5 Pros. Rank: price - $549.0K(39th), sqft - 996(43th), beds - 2(41th), baths - 1(47th).
Nestled in the heart of Los Angeles, this two-bedroom, one-bath home is a rare investment opportunity you won’t want to miss. Situated in a thriving neighborhood buzzing with development and excitement, this hidden gem offers incredible potential. Just minutes away from the iconic SoFi Stadium and the vibrant Broadway-Manchester area, this property combines convenience with opportunity. Whether you’re a first-time homeowner or a savvy investor, this is your chance to secure a piece of LA’s ever-growing real estate market. Don’t wait—discover the possibilities this home has to offer!
Price History
Date
Event
Price
12/11/98
Sold
$3,000
Condition Rating
Poor
Built in 1926, this property is nearly a century old and shows significant signs of age and neglect. The description itself highlights 'incredible potential' and 'investment opportunity,' strongly implying a need for extensive renovation rather than move-in readiness. The kitchen features extremely outdated cabinetry, countertops, and appliances, likely requiring a full gut and remodel. The bathroom is similarly dated with old fixtures and finishes, also necessitating a complete overhaul. Visible elements in the images, such as worn flooring, basic and old light fixtures, and exposed wiring in some areas, indicate that major systems (electrical, plumbing, HVAC) are likely outdated and require substantial repairs or replacement. The property's overall condition suggests it is uncomfortable or potentially unsafe to live in its current state, aligning with the 'poor' criteria.
Pros & Cons
Pros
Prime Location & Accessibility: The property is minutes away from the iconic SoFi Stadium and the vibrant Broadway-Manchester area, indicating strong potential for appreciation and convenience due to its central Los Angeles location.
Significant Investment/Development Potential: Explicitly marketed as a 'rare investment opportunity' in a 'thriving neighborhood buzzing with development,' suggesting high upside for renovation, expansion, or potential ADU addition.
Generous Lot Size: With a 5402 sqft lot, there is ample space for potential expansion, landscaping, or the addition of an Accessory Dwelling Unit (ADU), which can significantly increase property value and rental income.
Broad Market Appeal: The listing targets both 'first-time homeowners' and 'savvy investors,' widening the potential buyer pool for this property.
Established Neighborhood with Growth: Located in an older, established part of Los Angeles that is currently experiencing revitalization and development, offering a blend of community character and future growth prospects.
Cons
Implied Condition & Renovation Needs: The description emphasizes 'potential' and 'opportunity' rather than current condition or recent updates, strongly implying the property requires significant renovation, which will incur substantial additional costs for the buyer.
Potential Overpricing Relative to Condition: The list price of $549,000 is significantly higher than the estimated value of $385,548.79 (a -29% estimation ratio), suggesting the property may be overpriced given its likely need for extensive updates and compared to similar properties.
Age of Property: Built in 1926, the home is nearly a century old, which typically implies outdated systems (plumbing, electrical, HVAC) and structural elements that may require costly repairs or replacements, increasing the overall investment for a buyer.