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2920 Van Buren Pl, Los Angeles, California 90007, Los Angeles, 90007 - 4 bed, 2 bath

2920 Van Buren Pl, Los Angeles, California 90007 home-pic-0
ACTIVE$949,999
2920 Van Buren Pl, Los Angeles, California 90007
4Beds
2Baths
1,824Sqft
5,373Lot
Year Built
1908
Close
-
List price
$950K
Original List price
$950K
Price/Sqft
$521
HOA
-
Days on market
-
Sold On
-
MLS number
DW24219684
Home ConditionTear down
Features
View-

About this home

Possibly Over-Priced:The estimated price is 50% below the list price. We found 3 Cons,5 Pros. Rank: price - $950.0K(55th), sqft - 1824(45th), beds - 4(45th), baths - 2(45th).

This off-market property offers a fantastic opportunity for investors, developers, or families looking to own real estate in a prime Los Angeles location. Just a short walk from USC, the property is perfectly situated in a high-demand area known for its strong rental market and potential for long-term value growth. With a large lot size, it provides plenty of space for development or expansion, making it ideal for building student housing, multi-family units, or even a custom home. The neighborhood is full of energy, with close access to Downtown LA, Exposition Park, the LA Memorial Coliseum, and major freeways. This makes it convenient for both residents and commuters. With continued growth and investment in the area, this property is poised for significant appreciation. If you're looking for a prime investment opportunity in one of LA's fastest-growing neighborhoods, this is your chance to secure it before it hits the wider market!

Price History

Date
Event
Price
01/29/03
Sold
$205,000
Condition Rating
Tear down
Built in 1908, this property shows no evidence of major renovations in the past 50 years. The images reveal an extremely outdated kitchen with original-era cabinets, appliances, and worn flooring, alongside bathrooms featuring very old fixtures and tiles. The overall interior is in a state of significant disrepair and is highly uncomfortable, if not unsafe, for modern living. The listing description itself emphasizes the property's 'development or expansion' potential and 'large lot size' for building new units, rather than the existing structure's habitability, strongly suggesting the value lies in the land. The property's condition aligns with the 'tear-down' criteria, where the structure is beyond practical repair and its value is based solely on the land.
Pros & Cons

Pros

Exceptional Location: The property boasts a prime location, just a short walk from USC, and offers convenient access to Downtown LA, Exposition Park, the LA Memorial Coliseum, and major freeways, ensuring high demand and strong rental potential.
Significant Development Potential: With a large lot size (5373 sqft), the property provides ample space for expansion or redevelopment, making it ideal for student housing, multi-family units, or a custom home.
Strong Investment & Appreciation Outlook: Situated in a high-demand, rapidly growing neighborhood with a robust rental market, this property is poised for significant long-term value growth and appreciation.
Exclusive Off-Market Opportunity: Being an off-market listing offers a unique advantage, allowing buyers to secure this valuable asset before it becomes available to the wider market, potentially reducing competition.
Versatile Use Case: The property's characteristics and location make it attractive to a broad range of buyers, including investors, developers, and families seeking a customizable home in a vibrant area.

Cons

Extensive Renovation Likely Required: Built in 1908, the property description does not mention any recent updates, strongly suggesting it is in original or poor condition and will require significant investment for modernization or habitability.
Outdated Systems & Potential Structural Issues: The age of the property (1908) implies a high probability of needing comprehensive upgrades to major systems (plumbing, electrical, HVAC) and potential remediation of structural issues or hazardous materials.
Significant Price Discrepancy with Estimated Value: The list price of $949,999 is substantially higher than the estimated value of $467,901, which could indicate overpricing for its current condition or a valuation heavily reliant on its development potential, potentially impacting financing and buyer perception.

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