509 E 97th Street, Inglewood, California 90301, Inglewood, 90301 - 1 bed, 1 bath
ACTIVE$729,000
509 E 97th Street, Inglewood, California 90301
1Bed
1Bath
560Sqft
7,523Lot
Year Built
1921
Close
-
List price
$729K
Original List price
$740K
Price/Sqft
$1,302
HOA
-
Days on market
-
Sold On
-
MLS number
TR25098554
Home ConditionPoor
Features
View-
About this home
Possibly Over-Priced:The estimated price is 7% below the list price. We found 3 Cons,6 Pros. Rank: price - $729.0K(21th), sqft - 560(7th), beds - 1(7th), baths - 1(21th).
ATTENTION INVESTORS/BUILDERS. PRICE REDUCTION!! Small 1 bedroom home on a large lot. Capability of expanding and building additional units, can build up to 5 units, must check with city. Pricing is based on land value but house is a semi-fixer and can be saved. Property has lots of potential with short driving distance to stadiums, casinos, airport and is very accessible to both the 105 and 405 freeways. All information deemed reliable but not guaranteed.
Price History
Date
Event
Price
11/21/13
Sold
$165,000
Condition Rating
Poor
Built in 1921, this property is explicitly described as a 'semi-fixer' with pricing based on 'land value,' indicating the existing structure requires substantial work. The kitchen is in extremely poor condition, appearing largely non-functional with missing appliances, severely damaged flooring, and outdated, minimal cabinetry. While the bathroom has a newer vanity and toilet, the overall condition of the home features dirty, stained carpets, scuffed walls, and old fixtures, making it very uncomfortable and requiring extensive rehabilitation to be livable.
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 = 7523, living area = 560.
Development Potential: The large lot offers significant development potential, with the capability to expand and build up to 5 additional units, making it highly attractive for investors and builders.
Prime Location for Amenities: The property boasts a desirable location with short driving distance to major attractions such as stadiums, casinos, and the airport, enhancing its appeal for residents and potential renters.
Excellent Freeway Accessibility: Conveniently located with very accessible routes to both the 105 and 405 freeways, providing easy commuting and connectivity throughout the greater Los Angeles area.
Generous Lot Size: A substantial 7,523 sqft lot provides ample space for expansion, redevelopment, or the addition of multiple units, aligning perfectly with its investment potential.
Investment-Oriented Pricing: The property's pricing is explicitly based on land value, signaling a clear opportunity for investors and developers focused on maximizing the lot's potential rather than the existing structure.
Cons
Significant Renovation Required: Described as a 'semi-fixer' and built in 1921, the existing home will require substantial renovation or potential demolition, adding considerable cost and effort to any project.
Small Existing Structure: The current 1-bedroom, 1-bathroom home is only 560 sqft, limiting its immediate residential appeal and functionality for a broad range of traditional buyers.
Uncertainty of Development Approval: While the potential for building up to 5 units is mentioned, the description explicitly states 'must check with city,' indicating that development approval is not guaranteed and requires thorough due diligence.