223 E Emerson Avenue, Monterey Park, California 91755, Monterey Park, 91755 - 2 bed, 1 bath
ACTIVE$850,000
223 E Emerson Avenue, Monterey Park, California 91755
2Beds
1Bath
806Sqft
5,585Lot
Year Built
1926
Close
-
List price
$850K
Original List price
$850K
Price/Sqft
$1,055
HOA
-
Days on market
-
Sold On
-
MLS number
CV24219772
Home ConditionPoor
Features
Patio
View-
About this home
Possibly Over-Priced:The estimated price is 34% below the list price. We found 3 Cons,5 Pros. Rank: price - $850.0K(23th), sqft - 806(3th), beds - 2(15th), baths - 1(23th).
Excellent 2 bedroom house in a nice area of Monterey Park with lots of potential and spacious back yard.
Condition Rating
Poor
Built in 1926, this property is nearly a century old. The images reveal an extremely dated kitchen with very old cabinets, laminate countertops, and vintage appliances, along with an equally outdated bathroom featuring old fixtures and finishes. While the house appears clean, these critical areas require substantial rehabilitation and full renovation to meet modern standards. It's highly probable that major systems like plumbing, electrical, and HVAC are also very old and would need significant upgrades or replacement, aligning with the 'poor' condition criteria for substantial repairs and rehabilitation.
Pros & Cons
Pros
Desirable Location: Situated in a 'nice area of Monterey Park,' a well-regarded city in Los Angeles County, offering good community and amenities.
Significant Potential for Value Addition: The description explicitly states 'lots of potential,' indicating opportunities for renovation, expansion, or customization to increase future value.
Generous Lot Size with Spacious Backyard: A 5585 sqft lot with a 'spacious back yard' provides ample outdoor living space, privacy, and potential for landscaping, gardening, or even an Accessory Dwelling Unit (ADU) subject to zoning.
Classic Architectural Charm: As a home built in 1926, it likely possesses original architectural details and character that can be preserved and enhanced, appealing to buyers seeking historic charm.
Investment Opportunity: Given the 'potential' and desirable location, this property could be an attractive investment for buyers looking to add sweat equity and capitalize on future appreciation.
Cons
Significantly Overpriced Relative to Market Value: The list price of $850,000 is 34% higher than the estimated property value of $555,907, suggesting it is substantially above current market expectations.
Advanced Age and Implied Need for Renovation: Built in 1926, the property is nearly a century old, likely requiring significant updates to systems (plumbing, electrical), structure, and aesthetics to meet modern standards and comfort.
Smaller Interior Square Footage: At 806 sqft, the living space is relatively compact, potentially limiting its appeal to buyers seeking more expansive interiors, especially compared to some local comparables.