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2506 Strathmore Avenue, Rosemead, California 91770, Rosemead, 91770 - 4 bed, 2 bath

2506 Strathmore Avenue, Rosemead, California 91770 home-pic-0
ACTIVE$890,000
2506 Strathmore Avenue, Rosemead, California 91770
4Beds
2Baths
1,196Sqft
9,705Lot
Year Built
1960
Close
-
List price
$890K
Original List price
$890K
Price/Sqft
$744
HOA
-
Days on market
-
Sold On
-
MLS number
AR24197776
Home ConditionPoor
Features
Patio
View-

About this home

Possibly Over-Priced:The estimated price is 22% below the list price. We found 3 Cons,6 Pros. Rank: price - $890.0K(44th), sqft - 1196(35th), beds - 4(73th), baths - 2(50th).

Incredible Investment and Development Opportunity! This expansive 9,702 SF lot, zoned R2, offers immense potential for improvement and expansion. The existing single-story home features 1,196 SF of living space, including 4 bedrooms, 2 baths, and a large covered patio. With ample space, there's an opportunity to enhance the current structure and add an additional unit, maximizing the lot's potential. Located in a prime area with convenient access to Freeway 60 and 10, this property is ideal for both investors and developers looking to capitalize on a highly desirable location. Don't miss out on this rare opportunity to create something special!

Condition Rating
Poor
Built in 1960, this property is significantly outdated and requires substantial repairs and rehabilitation. Both kitchens feature old-style cabinets, dated countertops, and basic appliances, with one kitchen showing a stained ceiling and an old ceiling fan. The bathrooms are extremely retro with original-looking fixtures, colored sinks, and worn tiles. Flooring throughout is primarily old square tiles. The overall condition, as indicated by the images and the listing description emphasizing 'potential for improvement and expansion,' suggests the home needs extensive modernization to meet current living standards.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 9705, living area = 1196.
Large R2 Zoned Lot: The expansive 9,702 SF lot with R2 zoning provides significant potential for multi-unit development or expansion, appealing to investors and developers.
Strong Development/Investment Potential: Explicitly marketed as an 'Incredible Investment and Development Opportunity,' the property's zoning and lot size allow for enhancing the current structure and adding an additional unit.
Strategic Location & Accessibility: Located in a prime area with convenient access to Freeway 60 and 10, enhancing desirability for commuters and overall connectivity.
Functional Existing Layout: The existing 1,196 SF single-story home offers a practical 4-bedroom, 2-bathroom layout, which can be appealing for families or as a rental unit.
Outdoor Living Space: Includes a large covered patio, adding valuable usable outdoor living space to the existing structure.

Cons

Significant Overpricing: The current list price of $890,000 is substantially higher than the estimated property value of approximately $693,656, indicating a potential overvaluation.
Age and Implied Condition: Built in 1960, the description's emphasis on 'potential for improvement' suggests the existing structure likely requires significant renovation and modernization to meet current market standards.
Lack of Modern Updates: The absence of details regarding recent renovations or modern amenities implies the interior may be dated, requiring substantial capital expenditure for upgrades.

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