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3242 Velma Drive, Los Angeles, California 90068, Los Angeles, 90068 - 5 bed, 3 bath

3242 Velma Drive, Los Angeles, California 90068 home-pic-0
ACTIVE$2,200,000
3242 Velma Drive, Los Angeles, California 90068
5Beds
3Baths
1,900Sqft
5,916Lot
Year Built
1948
Close
-
List price
$2.2M
Original List price
$2.2M
Price/Sqft
$1,158
HOA
-
Days on market
-
Sold On
-
MLS number
25511419
Home ConditionExcellent
Features
Spa
Patio
View-

About this home

Possibly Over-Priced:The estimated price is 31% below the list price. We found 3 Cons,5 Pros. Rank: price - $2.20M(64th), sqft - 1900(39th), beds - 5(90th), baths - 3(50th).

Welcome to 3242 Velma Dr! Beautiful home located in the Hollywood Hills, one of LA's most sought after neighborhoods! This 4-Bedroom/3-Bathroom house also features an office that could be used as a fifth bedroom. The property underwent a complete renovation, including hardwood floors throughout the house, each bathroom is brand new, new HVAC system, new plumbing installed and new interior paint throughout the house. Property has a charming backyard perfect for small gatherings as well as a spa. There is one parking spot on-site plus a garage for storage or small car parking with additional street parking available. The property is located conveniently close to the 101 Freeway giving residents easy access to LA. Notable landmarks near by includeUniversal Studios, Universal City Walk, Warner Bros. Studios, Lakeside Golf Club, AND the Hollywood Sign! DRIVE BY ONLY! PROPERTY SHOWINGS BY APPOINTMENT ONLY!

Nearby schools

8/10
Valley View Elementary School
Public,•K-6•0.7mi
7/10
Rio Vista Elementary School
Public,•K-5•1.5mi
8/10
R. L. Stevenson Elementary School
Public,•K-5•1.7mi
7/10
Gardner Street Elementary School
Public,•K-6•2.5mi
6/10
Cheremoya Avenue Elementary School
Public,•K-6•2.5mi
4/10
Selma Avenue Elementary School
Public,•K-6•2.5mi
4/10
Grant Elementary School
Public,•K-6•3.0mi
7/10
Los Feliz STEMM Magnet
Public,•K-6•3.7mi
6/10
Walter Reed Middle School
Public,•6-8•2.6mi
5/10
David Starr Jordan Middle School
Public,•6-8•2.7mi
3/10
Joseph Le Conte Middle School
Public,•6-8•3.2mi
3/10
Hubert Howe Bancroft Middle School
Public,•6-8•3.3mi
6/10
Thomas Starr King Middle School
Public,•6-8•4.6mi
6/10
Hollywood Senior High School
Public,•9-12•2.6mi
7/10
Burroughs High School
Public,•9-12•2.7mi
6/10
Burbank Unified Independent Learning Academy (Buila)
Public,•7-12•3.0mi
8/10
North Hollywood Senior High School
Public,•9-12•3.3mi
7/10
Fairfax Senior High School
Public,•9-12•3.7mi
8/10
John Marshall Senior High School
Public,•9-12•4.3mi
Condition Rating
Excellent
Despite being built in 1948, the property has undergone a complete and extensive renovation, as stated in the description. This includes new hardwood floors throughout, brand new bathrooms, a new HVAC system, new plumbing, and fresh interior paint. The images confirm a modern, high-quality aesthetic in the kitchen (white shaker cabinets, stainless steel appliances, subway tile backsplash) and all bathrooms (modern vanities, tiling, and fixtures). All major components appear new or virtually new, meeting current quality standards with no deferred maintenance.
Pros & Cons

Pros

Prime Location: Located in the highly sought-after Hollywood Hills, offering prestige and desirability within Los Angeles.
Extensive Recent Renovation: The property has undergone a complete renovation, including new HVAC, plumbing, hardwood floors, brand new bathrooms, and fresh interior paint, minimizing immediate buyer expenses.
Flexible Floor Plan: Features 4 bedrooms and 3 bathrooms, with an additional office space that can easily function as a fifth bedroom, providing versatility for various living arrangements.
Outdoor Amenities: Includes a charming backyard ideal for small gatherings and a spa, enhancing lifestyle and entertainment options.
Excellent Accessibility & Proximity to Attractions: Conveniently located near the 101 Freeway for easy city access and close to major landmarks like Universal Studios, Warner Bros. Studios, and the Hollywood Sign.

Cons

Significant Overpricing: The current listing price of $2.2 million is considerably higher than the estimated property value of $1.51 million, suggesting it may be overpriced relative to market comparables.
Lack of Views: Despite its Hollywood Hills location, the property explicitly states 'View: None,' which can be a significant drawback in a market where views often command a premium.
Limited Parking & Restricted Access: Parking is limited to one on-site spot, a small garage (suitable for storage or a small car), and additional street parking. Furthermore, the 'DRIVE BY ONLY! PROPERTY SHOWINGS BY APPOINTMENT ONLY!' restriction may deter potential buyers.

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