5557 Lemon Avenue, Long Beach, California 90805, Long Beach, 90805 - 3 bed, 3 bath

5557 Lemon Avenue, Long Beach, California 90805 home-pic-0
ACTIVE$849,900
5557 Lemon Avenue, Long Beach, California 90805
3Beds
3Baths
1,400Sqft
4,417Lot
Year Built
1938
Close
-
List price
$850K
Original List price
$850K
Price/Sqft
$607
HOA
-
Days on market
-
Sold On
-
MLS number
IG25055556
Home ConditionExcellent
Features
Patio
View-

About this home

Possibly Over-Priced:The estimated price is 42% below the list price. We found 3 Cons,5 Pros. Rank: price - $849.9K(90th), sqft - 1400(77th), beds - 3(50th), baths - 3(94th).

Absolutely stunning FULLY REMODELED single family residence with a FULLY PERMITTED DETACHED ADU! Permits will be FULLY COMPLETED before the close of escrow! Both the front house and the ADU have a BRAND NEW ROOF are extremely spacious and beautifully laid out and have a total of 3 bedrooms and 3 full bathrooms. The main house has 2 bedrooms, 2 full bathroom and is approximately 900 square feet. It is also important to note there is also a LARGE 2 CAR DETACHED GARAGE off the main house. As you enter the home you will come across gorgeous brand new laminate wood flooring throughout the entire property along brand new tile and vanities in each bathroom. Next you are immediately drawn to the upgraded primary kitchen featuring beautiful quartz countertops and brand new shaker cabinets. Continuing to make your way through the home, you’ll discover each bedroom is very generous in size and they all offer an ample amount of closet space. The DETACHED ADU has its own PRIVATE ENTRANCE and SEPARATE ADDRESS (5557 Lemon Ave 1/2) and is an extremely large totaling approximately 500 square feet with 1 bedroom 1 full bathroom and is fully equipped with a FULL SECOND KITCHEN! This property is conveniently located near schools, shopping, parks and freeways, this one is definitely a MUST SEE! Priced to sell, it’s going to go quickly so schedule a tour today!

Price History

Date
Event
Price
04/24/24
Sold
$560,000
05/30/02
Sold
$190,000
Condition Rating
Excellent

This property has undergone a 'FULLY REMODELED' renovation, including a 'BRAND NEW ROOF' for both the main house and the ADU. The images confirm modern, new kitchens with quartz countertops and shaker cabinets, and updated bathrooms with new tile and vanities. Brand new laminate wood flooring is installed throughout. Despite the 1938 build year, the extensive and recent nature of these updates brings the property to a 'virtually new' standard, aligning with the 'Excellent' criteria for a fully renovated home.
Pros & Cons

Pros

Income-Generating ADU: Features a fully permitted, detached ADU with its own private entrance and full second kitchen, offering significant rental income potential or flexible multi-generational living.
Comprehensive Modern Remodel: The property has undergone a full remodel, including a brand new roof, new laminate wood flooring, updated bathrooms, and an upgraded kitchen with quartz countertops and shaker cabinets, ensuring a move-in ready experience.
Permitted ADU Status: The assurance that ADU permits will be fully completed before escrow close mitigates buyer risk and adds immediate legal value to the secondary unit.
Detached Two-Car Garage: A large detached two-car garage provides valuable off-street parking, additional storage, and potential for future utility, enhancing property functionality.
Strategic Location: Conveniently located near schools, shopping, parks, and major freeways, offering excellent accessibility and lifestyle benefits within North Long Beach.

Cons

Significant Price Discrepancy: The listing price of $849,900 is substantially higher than the automated property estimation of $488,938, indicating a potential overpricing or a need for a detailed appraisal to justify the value.
Age of Original Structure: Despite extensive remodeling, the 1938 build year may raise concerns for some buyers regarding the integrity of original, unmentioned systems (e.g., plumbing, electrical beyond cosmetic updates) or potential for unforeseen maintenance issues.
Compact Main House Footprint: The main residence, at approximately 900 square feet, is relatively compact, which might be a consideration for buyers desiring a larger primary living space, even with the added ADU.

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