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509 N Hobart Boulevard, Los Angeles, California 90004, Los Angeles, 90004 - 2 bed, 2 bath

509 N Hobart Boulevard, Los Angeles, California 90004 home-pic-0
ACTIVE UNDER CONTRACT$625,000
509 N Hobart Boulevard, Los Angeles, California 90004
2Beds
2Baths
1,220Sqft
6,142Lot
Year Built
1927
Close
-
List price
$625K
Original List price
$725K
Price/Sqft
$512
HOA
$275
Days on market
-
Sold On
-
MLS number
25531673
Home ConditionExcellent
Features
Patio
View-

About this home

We found 4 Cons,5 Pros. Rank: price - $625.0K(18th), sqft - 1220(53th), beds - 2(50th), baths - 2(50th).

Welcome to 509 Hobart Avenue, a thoughtfully restored Colonial Revival bungalow offering a rare Tenancy-in-Common (TIC) opportunity in one of Los Angeles' most culturally vibrant neighborhoods Melrose Hill. These two beautifully reimagined homes one on the ground level, the other top level deliver a harmonious blend of historic charm and modern ease. Each residence features 2 bedrooms and 2 bathrooms across approximately 1,200 to 1,300 square feet, designed with both character and comfort in mind. Original hardwood floors, decorative fireplaces, and classic built-ins speak to the home's early 20th-century roots, while dual-pane windows, LED recessed lighting, upgraded electrical, and mini split HVAC bring it into the now. Enjoy the convenience of in-unit laundry, a private patio space perfect for unwinding or entertaining, and a covered one-car garage. These homes have been fully renovated and restored with care, preserving the integrity of their architectural heritage while offering fresh, functional living spaces. Set within the emerging Melrose Hill district a creative hub known for its gallery and restaurant 509 Hobart offers access to a rich local culture. Close to Metro lines and major studios including Paramount and Raleigh, this location pairs serene residential living with unbeatable connectivity. A distinctive home. A dynamic neighborhood. An uncommon chance to own.

Price History

Date
Event
Price
10/29/25
Price Change
$625,000-9.4%
09/22/25
Sold
$690,000
09/09/25
Price Change
$690,000-4.8%
05/14/25
Listing
$725,000
06/30/23
Sold
$1,389,000
Condition Rating
Excellent
Despite its 1927 build year, the property has been 'fully renovated and restored with care,' as explicitly stated in the description. The images showcase a completely updated interior, including a modern kitchen with new sage green shaker cabinets, white quartz countertops, a farmhouse sink, gold fixtures, and stainless steel appliances. The bathrooms are equally contemporary with stylish tiling, modern vanities, and gold hardware. The presence of dual-pane windows, LED recessed lighting, upgraded electrical, and mini-split HVAC systems confirms a comprehensive and recent renovation, bringing the property to a virtually new condition with no visible deferred maintenance.
Pros & Cons

Pros

Historic Charm & Modern Comforts: Thoughtfully restored Colonial Revival bungalow blending original architectural details like hardwood floors and decorative fireplaces with modern upgrades such as dual-pane windows, LED lighting, and mini-split HVAC for year-round comfort.
Vibrant Melrose Hill Location: Situated in an emerging, culturally rich Melrose Hill neighborhood known for its galleries and restaurants, offering a dynamic urban lifestyle with strong community appeal.
Excellent Connectivity: Proximity to Metro lines and major studios including Paramount and Raleigh provides convenient commuting options and easy access to employment and entertainment hubs.
Turnkey Condition: Fully renovated and restored with care, offering fresh, functional living spaces that are move-in ready, minimizing immediate buyer expenses for repairs or upgrades.
Desirable In-Unit Amenities: Features like in-unit laundry, a private patio space, and a covered one-car garage significantly enhance convenience and quality of life, highly valued in urban settings.

Cons

Recently Sold Property: The property was recently sold within the past year on 2025-09-22. The sold price is $690,000.00.
Tenancy-in-Common (TIC) Structure: The Tenancy-in-Common (TIC) ownership model can present financing challenges, often requiring specialized portfolio loans, and may involve shared decision-making and liability, potentially limiting the buyer pool.
Significant Price Reductions: Multiple price drops from the original list price of $725,000 to $625,000 suggest initial overpricing or market resistance, which could impact perceived value or future appreciation.
Shared Property Aspects: As a TIC within a multi-unit bungalow, buyers will have shared ownership of the overall property and common areas, potentially leading to less autonomy and privacy compared to a traditional single-family home.

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