537 W Olive Street, Inglewood, California 90301, Inglewood, 90301 - 3 bed, 3 bath

537 W Olive Street, Inglewood, California 90301 home-pic-0
ACTIVE$890,000
537 W Olive Street, Inglewood, California 90301
3Beds
3Baths
2,556Sqft
4,234Lot
Year Built
1924
Close
-
List price
$890K
Original List price
$890K
Price/Sqft
$348
HOA
-
Days on market
-
Sold On
-
MLS number
SB25065764
Home ConditionFair
Features
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $890.0K(25th), sqft - 2556(50th), beds - 3(75th), baths - 3(75th).

OPEN HOUSE Saturday April 5th 10am-1pm ...Bring your clients to this perfect opportunity to live in the front 3bed/2.5baths Single Family Home and collect income from the 1bed/1bath ADU in rear. Front House is two-story with tons of potential. First Story consists of a kitchen, laundry room, living room, and 2 bedrooms. Second Story consists of a second living room area and master bedroom. Detached 1bed/1bath ADU is perfect for an in-law suite. Front house to be delivered vacant and back unit currently occupied. There is one water meter and two gas and electric meters for both units. Well maintained property in the heart of Inglewood. Perfect home for a first time home buyer or as a long term investment. Conveniently located near LAX airport, downtown L.A., SoFi Stadium, and Intuit Dome.

Condition Rating
Fair

Built in 1924, the main house, while described as 'well maintained,' shows significant signs of age and outdated features, particularly in the kitchen and bathrooms. The main house kitchen features older white appliances (coil-top range), dated white cabinets, laminate countertops, and fluorescent lighting, indicating a need for a full renovation to meet modern standards. Bathrooms in the main house also present older vanities, strip lighting, and dated tile work. Flooring consists of older hardwood and some newer but basic carpeting. In contrast, the detached ADU appears to have undergone a recent and modern renovation, boasting contemporary dark shaker-style cabinets, stainless steel appliances, solid surface countertops, recessed lighting, and updated bathrooms with modern vanities and tiled showers. However, the overall property condition is heavily influenced by the main house's need for substantial cosmetic updates, aligning with a 'fair' rating where major components are functional but show signs of being outdated and require minor to moderate updates or repairs to modernize.
Pros & Cons

Pros

Income-Generating ADU: Features a detached 1-bed/1-bath ADU, currently occupied, providing immediate rental income or flexible use as an in-law suite, significantly boosting investment appeal.
Strategic Inglewood Location: Highly desirable location in Inglewood, offering convenient access to major hubs like LAX, SoFi Stadium, Intuit Dome, and downtown L.A., promising strong appreciation potential.
Dual-Purpose Investment: Catches a broad buyer pool, serving as an ideal opportunity for first-time homebuyers to offset costs or as a robust long-term investment property.
Well-Maintained Condition: Described as 'well maintained,' indicating a property that has been cared for, potentially minimizing immediate repair and maintenance expenses for the new owner.
Vacant Main Unit Delivery: The primary 3-bed/2.5-bath residence will be delivered vacant, offering immediate owner occupancy or the flexibility to secure new tenants at current market rates.

Cons

Shared Water Meter: The presence of only one water meter for both units could complicate utility management and potentially lead to billing disputes between occupants.
Property Age (1924): Despite being well-maintained, the 1924 construction year suggests potential for aging infrastructure (e.g., plumbing, electrical) that may require future upgrades or significant capital expenditure.
'Potential' Implies Renovation: The phrase 'tons of potential' for the front house, while positive, often hints at the need for further investment in renovations or updates to fully modernize and maximize its value.

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