2637 N Olive Avenue, Altadena, California 91001, Altadena, 91001 - bed, bath
ACTIVE$499,000
2637 N Olive Avenue, Altadena, California 91001
0Bed
0Bath
Sqft
5,592Lot
Year Built
1941
Close
-
List price
$499K
Original List price
$589K
Price/Sqft
$0
HOA
-
Days on market
-
Sold On
-
MLS number
25496469
Home ConditionTear down
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $499.0K(2th), sqft - 0(7th), beds - undefined(12th), baths - undefined(12th).
Located just East of Lincoln Ave and south of Altadena Dr, this approximately 5,592 sq. ft. lot is being sold as land only and as a Short Sale. The home was destroyed in the recent Los Angeles Wildfires - Eaton Fire. The seller has opted into debris and foundation removal by the US Army Corp of Engineers. The property is near several hiking trails, including Hahamongna Watershed Park, adjacent to Jet Propulsion Laboratory, and blocks away from the original Unincorporated Coffee Roasters (temporarily closed).
Condition Rating
Tear down
The property is explicitly stated to be 'land only' as the original home was destroyed in recent wildfires. There is no existing structure, kitchen, or bathroom to assess. The value is solely in the land for redevelopment.
Pros & Cons
Pros
Prime Location: Situated in desirable Altadena, the property offers proximity to natural attractions like Hahamongna Watershed Park hiking trails and is adjacent to the Jet Propulsion Laboratory, a significant local employer.
Cleared Building Site: The seller has arranged for debris and foundation removal by the US Army Corp of Engineers, providing a clean slate for construction and saving the buyer significant initial costs and effort.
Custom Build Opportunity: Being sold as land only, this property presents a unique opportunity for a buyer to design and build a custom single-family residence tailored to their exact specifications in a sought-after area.
Price Adjustment: A notable price reduction from the original list price of $589,000 to $499,000 indicates a motivated seller and potential for a competitive acquisition.
Community Proximity: The location is blocks away from local amenities, including the original Unincorporated Coffee Roasters, contributing to a desirable neighborhood feel.
Cons
Short Sale Transaction: The 'Short Sale' designation typically implies a more complex, extended, and potentially uncertain closing process due to required lender approvals.
Complete Rebuild Required: As the previous home was destroyed, the property requires a full construction project, entailing substantial time, financial investment, and effort from the buyer.
Wildfire History: The destruction of the previous home by the Eaton Fire may raise concerns about future fire risk, potentially impacting insurance availability or premiums for the new build.