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6021 Romaine Street, California, Los Angeles, 90038 - 4 bed, 2 bath

6021 Romaine Street, California home-pic-0
ACTIVE$1,550,000
6021 Romaine Street, California
4Beds
2Baths
1,512Sqft
5,858Lot
Year Built
1915
Close
-
List price
$1.55M
Original List price
$1.8M
Price/Sqft
$1,025
HOA
-
Days on market
-
Sold On
-
MLS number
22221519
Home ConditionFair
Features
View-

About this home

Possibly Over-Priced:The estimated price is 8% below the list price. We found 3 Cons,5 Pros. Rank: price - $1.55M(93th), sqft - 1512(36th), beds - 4(93th), baths - 2(36th).

An opportunity awaits in Hollywood......featuring this stunning duplex. The LAR3 zoned duplex gives an owner user, investor, or developer an opportunity to build. The almost 6,000 sq foot lot gives many options to the buyer. This property can generate income in a desirable area. The duplex is 2 detached units on one lot. The property is ready to move in and is fully vacate. The duplex has hardwood floors throughout the home. There is an abundance of outdoor space. Each unit consists of 2 cozy bed rooms & 1 full bathroom. There is minimal landscaping and averages low maintenance cost.

Condition Rating
Fair
Built in 1915, this property shows its age despite being 'ready to move in.' The kitchen features dated dark wood cabinets, laminate countertops, older white appliances, and linoleum flooring, suggesting a renovation from 20-30 years ago. The bathroom also appears dated with a basic vanity, older light fixtures, and a fiberglass tub insert. While the property has hardwood/laminate flooring in living areas and bedrooms, and appears maintained, major components are functional but significantly outdated, requiring substantial cosmetic and potential system updates to meet current standards.
Pros & Cons

Pros

Income & Owner-User Potential: This property is a duplex with two detached units, fully vacant and ready for immediate occupancy, offering excellent income generation potential or flexibility for an owner-user.
Development Opportunity: The LAR3 zoning on an almost 6,000 sq ft lot presents significant development opportunities for investors or developers looking to maximize the property's potential.
Prime Hollywood Location: Situated in the highly desirable Hollywood area, the property benefits from strong rental demand and appreciation potential.
Aesthetic & Durability: The presence of hardwood floors throughout both units adds to the aesthetic appeal and offers durable, easy-to-maintain surfaces.
Low Maintenance: Minimal landscaping contributes to lower ongoing maintenance costs, appealing to both owner-users and investors.

Cons

Potential Overpricing: The current list price of $1,550,000 is 8% above the property's estimated value of $1,419,394.75, and it has already seen a significant price reduction from its original $1,800,000, suggesting it may still be priced above market expectations.
Age of Property: Built in 1915, the property is over a century old, which could imply the need for updates to plumbing, electrical, or other major systems, potentially incurring significant future expenses.
Limited Bedroom Size: The description mentions 'cozy' bedrooms, which may indicate smaller room dimensions that could be a drawback for some buyers or tenants seeking more spacious living accommodations.

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