3309 Chadwick Drive, Los Angeles, California 90032, Los Angeles, 90032 - 2 bed, 2 bath
ACTIVE$799,999
3309 Chadwick Drive, Los Angeles, California 90032
2Beds
2Baths
1,073Sqft
7,270Lot
Year Built
1920
Close
-
List price
$800K
Original List price
$815K
Price/Sqft
$746
HOA
-
Days on market
-
Sold On
-
MLS number
MB25009939
Home ConditionGood
Features
Good View: City Lights, Neighborhood
ViewCity Lights,Neighborhood
About this home
Possibly Over-Priced:The estimated price is 30% below the list price. We found 3 Cons,6 Pros. Rank: price - $800.0K(37th), sqft - 1073(33th), beds - 2(38th), baths - 2(50th).
PRICE REDUCTION!!!! NEWLY RENOVATED SFR WITH 3 BEDROOMS AND 2 BATHS WITH PLENTY OF SPACE FOR PARKING AND EXPANSION. A BONUS ROOM IT'S BEEN USED AS A BEDROOM WITH A CLOSET. The 7 K+ LOT SIZE IS IDEAL FOR ADDING TO THE EXISTING STRUCTURE OR BUILDING AN ADU. THERE ARE LOTS OF OPTIONS FOR AN OWNER OR AN INVESTOR LOOKING FOR POTENTIAL TO MAXIMIZE THIS PROPERTY'S VALUE.
Condition Rating
Good
The property, built in 1920, has been 'NEWLY RENOVATED' as stated in the description. Images confirm significant updates including modern LVP and laminate flooring, fresh paint, recessed lighting, and efficient mini-split AC units. One bathroom is fully updated with contemporary fixtures and tiling, presenting an excellent condition. The kitchen features updated shaker-style cabinets and a stainless steel dishwasher, but the granite countertops and floor tiles, while clean and functional, are not the most current in terms of style. The second bathroom has a modern glass-enclosed shower but a visibly distressed and dated vanity. While extensively renovated and move-in ready with no immediate repairs needed, these minor inconsistencies in aesthetic modernity prevent it from achieving an 'Excellent' rating where all components are 'virtually new, meeting current quality 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 = 7270, living area = 1073.
Recent Renovation: The property boasts recent renovations, offering a modern and updated living environment for immediate occupancy.
Significant Lot Size & ADU Potential: A spacious 7,270 sq ft lot provides excellent opportunities for future expansion or the addition of an Accessory Dwelling Unit (ADU), enhancing long-term value.
Flexible Bonus Room: The inclusion of a bonus room, currently used as a bedroom, offers versatile living arrangements and additional functional space.
Investment & Value-Add Opportunity: The property presents strong potential for both owner-occupants and investors to maximize its value through expansion or development.
Pleasant Views: Enjoyable 'City Lights' and 'Neighborhood' views contribute to the property's appeal and living experience.
Cons
Substantial Overpricing: The listing price of $799,999 is considerably above the estimated market value of $555,006, indicating a potential overvaluation.
Recent Price Reduction: A recent price drop from $815,000 suggests the property may have faced challenges attracting offers at its initial price, potentially signaling market resistance.
Historic Property Age: Built in 1920, the property's age, despite renovations, may imply older infrastructure or potential for future maintenance concerns related to its original construction.