240 N Avenue 49, Los Angeles, California 90042, Los Angeles, 90042 - 2 bed, 1 bath
ACTIVE$799,000
240 N Avenue 49, Los Angeles, California 90042
2Beds
1Bath
1,041Sqft
6,570Lot
Year Built
1925
Close
-
List price
$799K
Original List price
$799K
Price/Sqft
$768
HOA
-
Days on market
-
Sold On
-
MLS number
25505645
Home ConditionPoor
Features
Patio
View-
About this home
Possibly Over-Priced:The estimated price is 4% below the list price. We found 3 Cons,5 Pros. Rank: price - $799.0K(11th), sqft - 1041(29th), beds - 2(39th), baths - 1(31th).
This California Bungalow is a great value add opportunity for the more experienced investor. The property does have upgrades that have been done to a lot of the major systems. There has been an inspection done on the property and will be provided upon request. This property is vacant although the pictures show there are belongings in the home, the seller has since cleared out the home.
Price History
Date
Event
Price
10/20/06
Sold
$435,000
Condition Rating
Poor
Built in 1925, this property is explicitly marketed as a 'value add opportunity,' indicating significant work is needed. While the description mentions 'upgrades... to a lot of the major systems,' the images reveal a very outdated kitchen and bathroom that appear to have seen no major renovations in many decades (likely 30-50+ years ago). The kitchen features old cabinets, basic appliances, and dated flooring, while the bathroom has old tile and fixtures. These key areas require substantial rehabilitation to meet modern standards, making the property uncomfortable for contemporary living despite potential system upgrades.
Pros & Cons
Pros
Investment Potential: Explicitly marketed as a 'great value add opportunity,' appealing to experienced investors seeking to enhance property value.
Updated Major Systems: Significant upgrades have been completed on major systems, reducing immediate capital expenditure for critical components.
Buyer Transparency: A pre-completed inspection report is available upon request, offering transparency and streamlining the buyer's due diligence process.
Vacant for Easy Transaction: The property is vacant, facilitating flexible showings and a potentially quicker closing without tenant-related complications.
Prime Highland Park Location: Located in the highly desirable Highland Park area, known for its vibrant community and strong market appreciation.
Cons
Potential Overpricing: The current listing price is approximately 4% above the estimated market value, which may impact buyer interest and negotiation.
Absence of Scenic Views: The property does not offer any notable views, which could be a disadvantage compared to other properties in the area that might feature city or hill views.
Requires Additional Investment: Despite major system upgrades, the 'value add opportunity' description and 1925 build year imply further investment is needed for modernization and cosmetic improvements.