5923 Madden Avenue, Los Angeles, California 90043, Los Angeles, 90043 - 3 bed, 2 bath
ACTIVE$525,000
5923 Madden Avenue, Los Angeles, California 90043
3Beds
2Baths
1,154Sqft
4,802Lot
Year Built
1922
Close
-
List price
$525K
Original List price
$525K
Price/Sqft
$455
HOA
-
Days on market
-
Sold On
-
MLS number
25501919
Home ConditionPoor
Features
View-
About this home
Possibly Over-Priced:The estimated price is 24% below the list price. We found 3 Cons,6 Pros. Rank: price - $525.0K(4th), sqft - 1154(22th), beds - 3(50th), baths - 2(50th).
This 3 bed 2 bath fixer is available for Investors seeking a distinctive opportunity.
Nearby schools
2/10
Fifty-Ninth Street Elementary School
Public,•K-5•0.3mi
2/10
Yes Academy
Public,•K-5•0.4mi
3/10
Angeles Mesa Elementary School
Public,•K-5•0.6mi
2/10
Fifty-Fourth Street Elementary School
Public,•K-5•1.1mi
3/10
Seventy-Fourth Street Elementary School
Public,•K-5•1.1mi
4/10
Centinela Elementary School
Public,•K-6•1.3mi
1/10
Lane (Warren) Elementary School
Public,•K-6•1.4mi
2/10
Forty-Second Street Elementary School
Public,•K-5•1.4mi
3/10
Windsor Hills Math Science
Public,•K-5•1.8mi
1/10
Horace Mann Junior High School
Public,•6-8•1.1mi
2/10
Barack Obama Global Preparation Academy
Public,•6-8•1.4mi
2/10
Audubon Middle School
Public,•6-8•1.6mi
3/10
Parent (Frank D.) Elementary School
Public,•K-8•2.8mi
2/10
Crozier (George W.) Middle School
Public,•7-8•2.9mi
/10
Monroe (Albert F.) Middle School
Public,•6-8•3.3mi
1/10
Crenshaw Science, Technology, Engineering, Math And Medicine Magnet
Public,•9-12•0.8mi
2/10
Inglewood High School
Public,•9-12•2.4mi
2/10
George Washington Preparatory High School
Public,•9-12•3.6mi
9/10
Middle College High School
Public,•9-12•6.0mi
Price History
Date
Event
Price
11/13/03
Sold
$183,000
Condition Rating
Poor
Built in 1922, this property is explicitly marketed as a 'fixer' requiring 'extensive renovation' for investors. The property analysis confirms 'Outdated Systems and Age-Related Issues,' indicating a need for substantial repairs and rehabilitation across all major components, including likely full replacements for the kitchen and bathrooms, as well as electrical, plumbing, and HVAC systems. The single exterior image also suggests a neglected state. While not explicitly stated as unlivable or beyond repair, the description strongly aligns with the 'poor' condition criteria.
Pros & Cons
Pros
Great Schools: High School: Middle College High School (9/10).
Investment Potential: Explicitly marketed as a 'fixer' for investors, this property offers significant upside for value creation through renovation and modernization.
Desirable Los Angeles Location: Situated in the Park Hills Heights area of Los Angeles, providing access to city amenities, major attractions, and a generally sought-after neighborhood.
Generous Lot Size: The 4802 sqft lot offers ample space for potential expansion, landscaping, or the addition of an Accessory Dwelling Unit (ADU), enhancing future value.
Classic Architectural Charm: Built in 1922, the property likely retains original architectural details and character that can be restored and enhanced, appealing to buyers seeking historical charm.
Strong Market Comparables: Nearby properties, even those requiring some work, have recently sold for higher prices (e.g., $565k, $600k, $610k, $660k), indicating robust market demand and significant post-renovation value potential.
Cons
Extensive Renovation Required: The property is explicitly described as a 'fixer,' indicating a need for substantial capital investment and effort to bring it to modern standards and maximize its potential.
Outdated Systems and Age-Related Issues: As a 1922 build, the property is likely to have outdated electrical, plumbing, and HVAC systems, requiring costly replacements. There's also a higher probability of encountering issues like lead paint or asbestos.
High List Price Relative to Current Condition: The current list price of $525,000 is significantly above the estimated value of $394,675.08, suggesting it may be overpriced given the extensive work required in its 'as-is' state.