2927 S Genesee Avenue, Los Angeles, California 90016, Los Angeles, 90016 - 5 bed, 3 bath

2927 S Genesee Avenue, Los Angeles, California 90016 home-pic-0
ACTIVE$1,450,000
2927 S Genesee Avenue, Los Angeles, California 90016
5Beds
3Baths
1,730Sqft
5,505Lot
Year Built
1944
Close
-
List price
$1.45M
Original List price
$1.45M
Price/Sqft
$838
HOA
-
Days on market
-
Sold On
-
MLS number
SR24228696
Home ConditionFair
Features
View-

About this home

Possibly Over-Priced:The estimated price is 29% below the list price. We found 3 Cons,5 Pros. Rank: price - $1.45M(79th), sqft - 1730(71th), beds - 5(90th), baths - 3(73th).

Family owned home for over 60 years is now on the market Fantastic opportunity for someone looking for a starter home with room for growth! With five bedrooms and three baths there is definitely plenty of space for a family or even for potential room rentals. The large master suite with it's skylight and spacious bathroom with jacuzzi tub adds a nice touch of comfort. Plus the unfinished garage conversation into an ADU could be a great project for a new owner, especially if you are looking to generate some rental income or private space. There is plenty of parking space, alley access and drought tolerant landscaping. The location seems ideal too, being close to downtown LA and various amenities. This place can cater to a variety of needs, weather someone wants a cozy family home or an investment opportunity. The home is located in a great neighborhood with a neighborhood park a few blocks away. It's close to downtown LA, Beaches, 10 Freeway, Public transportation-Metrolink, shopping, restaurants and schools. Home will be sold "AS IS". Buyer and buyers agent to verify all information by your own investigations.

Nearby schools

6/10
Marvin Elementary School
Public,K-50.5mi
6/10
Baldwin Hills Elementary School
Public,K-50.6mi
5/10
Cienega Elementary School
Public,K-51.0mi
5/10
Virginia Road Elementary School
Public,K-51.8mi
4/10
Alta Loma Elementary School
Public,K-52.1mi
3/10
Sixth Avenue Elementary School
Public,K-52.7mi
3/10
Arlington Heights Elementary School
Public,K-52.8mi
3/10
Johnnie Cochran, Jr., Middle School
Public,6-82.7mi
2/10
Audubon Middle School
Public,6-82.7mi
3/10
Daniel Webster Middle School
Public,6-83.7mi
6/10
Alexander Hamilton Senior High School
Public,9-121.1mi
2/10
Susan Miller Dorsey Senior High School
Public,9-121.5mi
Condition Rating
Fair

Built in 1944 and family-owned for over 60 years, this property is being sold 'AS IS,' indicating a need for significant updates. The provided images confirm a very dated kitchen with older appliances, cabinets, and flooring, likely from 30+ years ago. The living area also shows older carpeting and light fixtures. While the description mentions a master suite with a jacuzzi tub, the overall impression is that the home has been maintained but has not undergone major renovations in decades. It requires substantial cosmetic and functional updates to meet current standards, aligning with the 'Fair' condition criteria.
Pros & Cons

Pros

Spacious Layout & Versatility: With 5 bedrooms and 3 baths, the property offers ample space for a large family or the flexibility to generate income through room rentals.
ADU Conversion Potential: The unfinished garage conversion into an ADU presents a significant opportunity for a new owner to create additional rental income or a private living space.
Prime Location & Accessibility: The home boasts an ideal location with excellent proximity to Downtown LA, beaches, the 10 Freeway, public transportation (Metrolink), shopping, restaurants, and schools.
Desirable Neighborhood Amenities: Situated in a great neighborhood with a park just a few blocks away, enhancing the quality of life and community appeal.
Master Suite Features: The large master suite includes a skylight and a spacious bathroom with a jacuzzi tub, adding a touch of comfort and luxury.

Cons

As-Is Condition: The property is being sold 'AS IS,' indicating that the buyer will be responsible for any necessary repairs, upgrades, or deferred maintenance without seller contribution.
Significant Price Discrepancy: The listing price of $1.45M is considerably higher than the estimated property value of approximately $1.017M, suggesting it may be overpriced relative to current market assessments.
Age & Potential for Updates: Built in 1944 and family-owned for over 60 years, the home likely requires substantial investment in modernizing systems (e.g., electrical, plumbing, HVAC) and general aesthetics.

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