5889 Towne Avenue 5889, Los Angeles, California 90003, Los Angeles, 90003 - 3 bed, 2 bath
ACTIVE$599,000
5889 Towne Avenue 5889, Los Angeles, California 90003
3Beds
2Baths
1,044Sqft
5,203Lot
Year Built
1912
Close
-
List price
$599K
Original List price
$625K
Price/Sqft
$574
HOA
-
Days on market
-
Sold On
-
MLS number
IV24162452
Home ConditionGood
Features
Patio
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $599.0K(24th), sqft - 1044(7th), beds - 3(76th), baths - 2(74th).
Nestled in the vibrant heart of Los Angeles, 5889 Towne Ave offers the perfect blend of urban convenience and suburban tranquility. Enjoy easy access to major highways, public transit, and a plethora of local amenities including dining, shopping, and entertainment.
Price History
Date
Event
Price
08/18/23
Sold
$525,000
Condition Rating
Good
The property, built in 1912, features a recently and extensively renovated interior. The kitchen boasts modern white shaker cabinets, dark countertops, subway tile backsplash, and stainless steel appliances. Both bathrooms have been updated with modern vanities, fixtures, and tile. New laminate/engineered wood flooring and fresh paint are present throughout the living areas and bedrooms. While the major systems (HVAC, plumbing, electrical) are not explicitly detailed and the exterior shows the age of the building, the visible interior components are in excellent, move-in ready condition, indicating a significant renovation within the last 5-15 years.
Pros & Cons
Pros
Income-Generating Potential: As a duplex (Residential Income type), the property offers the opportunity for rental income or multi-family living, providing a valuable investment aspect.
Strategic Los Angeles Location: Situated in the 'vibrant heart of Los Angeles' with excellent access to major highways, public transit, and a plethora of local amenities, enhancing convenience and desirability.
Generous Lot Size: A 5203 sqft lot provides ample outdoor space or potential for future development/expansion, which is a significant asset in an urban setting.
Historic Character: Built in 1912, the property likely possesses unique architectural details and charm that can appeal to buyers seeking historical properties with character.
Recent Price Adjustment: The reduction from an original list price of $625,000 to $599,000 indicates a motivated seller and potentially a more attractive entry point for buyers.
Cons
Advanced Age & Potential for Deferred Maintenance: Built in 1912, the property is over a century old, suggesting a high likelihood of requiring significant updates, repairs, and ongoing maintenance for systems and structure.
Limited Interior Space: With 1044 sqft for a 3-bed, 2-bath duplex, the living areas are likely compact, which might not suit all buyer preferences or family sizes.
Lack of Desirable Views: The property explicitly states 'view: None,' which can detract from its appeal and value, especially in a city like Los Angeles where views are often highly sought after.