4463 Lovett, East Los Angeles, California 90040, East Los Angeles, 90040 - 3 bed, 1 bath
ACTIVE$669,900
4463 Lovett, East Los Angeles, California 90040
3Beds
1Bath
1,306Sqft
6,724Lot
Year Built
1910
Close
-
List price
$670K
Original List price
$670K
Price/Sqft
$513
HOA
-
Days on market
-
Sold On
-
MLS number
SB24139983
Home ConditionTear down
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $669.9K(27th), sqft - 1306(50th), beds - 3(50th), baths - 1(36th).
Probate sale with court confirmation required along with possible overbids. Case # 24STPB05523 “Estate of Salvador Mercado” “All Cash” to the Estate or upon such other terms acceptable to the personal representative. This is a fixer upper property. It includes a non-permitted back house. Front home at this time can not be accessed until tenant vacates or other arrangements can be made. Most likely ALL CASH will be the offer accepted based on the condition of the homes. Zone R3
Condition Rating
Tear down
Built in 1910, this property is explicitly described as a 'fixer upper' requiring 'substantial capital investment for rehabilitation.' The images confirm extreme dilapidation, particularly in the kitchen and bathroom, which appear unsanitary and non-functional, requiring complete gutting and replacement. The overall condition, including overgrown exterior and severely dated interiors, suggests the structure has had no major renovations in over 50 years. Given the R3 zoning and the property's age and condition, its value is primarily in the land for redevelopment, making demolition the most practical and likely path for a buyer.
Pros & Cons
Pros
R3 Zoning: The R3 zoning designation allows for multi-unit development, significantly enhancing the property's value and investment potential in a high-demand area.
Generous Lot Size: A substantial 6,724 sqft lot provides ample space for potential expansion or new construction, complementing the R3 zoning for development.
Strategic East Los Angeles Location: Situated in a dynamic and appreciating East Los Angeles market, offering strong long-term investment prospects and demand.
Significant Value-Add Opportunity: The property's 'fixer-upper' status, combined with its R3 zoning, presents a substantial opportunity for experienced investors and developers to create significant equity.
Historic Property (1910): Built in 1910, the property offers potential for unique architectural character and is located in a well-established neighborhood with enduring appeal.
Cons
Complex Probate Sale Process: The sale requires court confirmation and is subject to potential overbids, leading to extended timelines, transactional uncertainty, and specialized legal requirements.
Extensive Renovation & All-Cash Requirement: Described as a 'fixer upper,' the property necessitates substantial capital investment for rehabilitation and, due to its condition and sale type, effectively requires an all-cash offer, limiting the buyer pool.
Tenant Occupied with Access Limitations: The front home is inaccessible until the tenant vacates, creating significant hurdles for due diligence, planning, and immediate possession, with potential for eviction costs and delays.