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5021 Elmwood Avenue, Los Angeles, California 90004, Los Angeles, 90004 - 3 bed, 1 bath

5021 Elmwood Avenue, Los Angeles, California 90004 home-pic-0
ACTIVE UNDER CONTRACT$1,235,000
5021 Elmwood Avenue, Los Angeles, California 90004
3Beds
1Bath
1,671Sqft
6,258Lot
Year Built
1924
Close
-
List price
$1.24M
Original List price
$1.53M
Price/Sqft
$739
HOA
-
Days on market
-
Sold On
-
MLS number
25555115
Home ConditionPoor
Features
Good View: Trees/Woods
ViewTrees/Woods

About this home

Fairly Priced:The estimated price is in line with the list price. We found 3 Cons,5 Pros. Rank: price - $1.24M(24th), sqft - 1671(24th), beds - 3(50th), baths - 1(16th).

This classic 1924 constructed Spanish style home has been lovingly maintained by the same family for the last forty years, waiting for the next owner to creatively make it their own. Step through the front door past terraced gardens with succulents and roses your eyes are immediately drawn to the centerpiece: a stunning Batchelder fireplace that conjures memories of cozy winter nights and festive holiday gatherings. Set on a 6,258 sq. Ft. lot, the property features 1,671 sq. ft of living space with 3 bedrooms and 1 bath- offering both character and potential in equal measure. Located just around the corner from Van Ness Avenue School and a block from Raleigh Studios and Paramount Studios, this home is minutes from Larchmont Village favorites like The Yoga Center, Larchmont Wine & Cheese, and ice cream treats.

Nearby schools

6/10
Van Ness Avenue Elementary School
Public,•K-5•0.1mi
8/10
Third Street Elementary School
Public,•K-5•1.2mi
3/10
Joseph Le Conte Middle School
Public,•6-8•1.1mi
3/10
Hubert Howe Bancroft Middle School
Public,•6-8•1.3mi
7/10
John Burroughs Middle School
Public,•6-8•1.6mi
4/10
Helen Bernstein High School
Public,•9-12•1.1mi
7/10
Fairfax Senior High School
Public,•9-12•2.6mi

Price History

Date
Event
Price
10/21/25
Price Change
$1,235,000-17.4%
08/01/25
$1,495,000
06/20/25
$1,535,000
Condition Rating
Poor
This 1924-built Spanish-style home, while possessing architectural charm and being 'lovingly maintained' for 40 years, explicitly 'requires substantial updates to meet contemporary living standards and amenities.' The images confirm this, particularly in the kitchen and bathroom. The kitchen features very old, dark wood cabinets, outdated white appliances, laminate countertops, and old flooring, indicating a complete renovation is needed. The single bathroom is also extremely dated with a pedestal sink, old tile, floral wallpaper border, and an antique light fixture. Other areas show worn hardwood floors and older light fixtures. Given the property's age (100 years) and the clear need for extensive modernization in critical areas, it falls into the 'Poor' category, requiring substantial rehabilitation to bring it up to current standards.
Pros & Cons

Pros

Architectural Charm: This classic 1924 Spanish style home boasts unique character, highlighted by a stunning Batchelder fireplace and terraced gardens.
Prime Location: Strategically located in the desirable Hancock Park-Wilshire area, minutes from Larchmont Village, major studios (Raleigh, Paramount), and highly-rated schools.
Development Potential: The property offers significant potential for customization and modernization, allowing a new owner to creatively enhance its value and appeal.
Generous Lot Size: Set on a substantial 6,258 sq. ft. lot, providing ample outdoor space and potential for landscaping or expansion.
Long-Term Stewardship: Maintained by the same family for forty years, indicating a history of care and stability, though also suggesting potential for updates.

Cons

Limited Bathroom Count: The property features only one bathroom for three bedrooms, which is a significant functional limitation for modern family living.
Required Modernization: While well-maintained, the 1924 construction and description imply the home will require substantial updates to meet contemporary living standards and amenities.
Price-to-Value Discrepancy: The current listing price of $1.235M is above the estimated property value of $1.173M, and previous price reductions suggest market resistance.

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