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3701 Cherrywood Avenue, Los Angeles, California 90018, Los Angeles, 90018 - 3 bed, 2 bath

3701 Cherrywood Avenue, Los Angeles, California 90018 home-pic-0
ACTIVE$1,200,000
3701 Cherrywood Avenue, Los Angeles, California 90018
3Beds
2Baths
2,044Sqft
7,730Lot
Year Built
1940
Close
-
List price
$1.2M
Original List price
$1.2M
Price/Sqft
$587
HOA
-
Days on market
-
Sold On
-
MLS number
IG25120504
Home ConditionPoor
Features
View-

About this home

Possibly Over-Priced:The estimated price is 32% below the list price. We found 3 Cons,5 Pros. Rank: price - $1.20M(75th), sqft - 2044(76th), beds - 3(50th), baths - 2(50th).

Welcome home to 3701 Cherrywood Avenue, a truly charming and spacious single-family residence nestled in the heart of Los Angeles' highly sought-after Jefferson Park neighborhood (ZIP code 90018). Built in 1940, this classic 3-bedroom, 2-bathroom home offers a generous 2,044 square feet of interior living space on a substantial 7,728 square foot lot (0.1775 acres), providing ample room for both indoor comfort and outdoor enjoyment. Step inside to discover a warm and inviting atmosphere. The bright living room features a cozy fireplace, perfect for cool Los Angeles evenings. This home retains its timeless character, offering the ideal canvas for renovation and customization to create your dream living space. Original details blend seamlessly with the potential for modern upgrades.

Condition Rating
Poor
Built in 1940, this property is 84 years old and the description explicitly states it 'requires significant upgrades to meet modern standards' and 'additional financial investment.' The property analysis also highlights a 'lack of system updates' (HVAC, plumbing, electrical, roof). The exterior image reinforces this, showing neglected landscaping, an old fence, and a visible window AC unit, all indicative of substantial deferred maintenance and a need for comprehensive rehabilitation rather than minor updates. While it's an 'ideal canvas for renovation,' this implies extensive work is needed, aligning with the 'poor' condition criteria.
Pros & Cons

Pros

Desirable Location: Nestled in the highly sought-after Jefferson Park neighborhood (ZIP code 90018), offering strong community appeal and potential for appreciation.
Generous Lot Size: A substantial 7,728 square foot lot (0.1775 acres) provides ample outdoor space, potential for expansion, or the addition of an Accessory Dwelling Unit (ADU).
Spacious Interior: With 2,044 square feet of living space, this 3-bedroom, 2-bathroom home offers a generous footprint for comfortable living, especially for its age.
Renovation Potential & Classic Charm: The property retains its timeless character and original details, presenting an ideal canvas for buyers to customize and modernize to their taste, adding significant value.
Cozy Fireplace: The bright living room features a cozy fireplace, enhancing the home's inviting atmosphere and providing a desirable amenity for cooler evenings.

Cons

Significant Overpricing: The current list price of $1,200,000 is 32% higher than the estimated property value of $805,503, indicating a substantial valuation gap that may deter potential buyers or prolong market time.
Required Modernization Investment: While offering renovation potential, the property's description implies it requires significant upgrades to meet modern standards, which will necessitate additional financial investment from the buyer.
Lack of System Updates: The property description does not mention any recent updates to major systems (e.g., HVAC, plumbing, electrical, roof), suggesting potential deferred maintenance and immediate costs for a new owner, unlike several recently sold comparables.

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