747 E 112th Street, Los Angeles, California 90059, Los Angeles, 90059 - 2 bed, 2 bath
ACTIVE$700,000
747 E 112th Street, Los Angeles, California 90059
2Beds
2Baths
992Sqft
3,999Lot
Year Built
1923
Close
-
List price
$700K
Original List price
$700K
Price/Sqft
$706
HOA
-
Days on market
-
Sold On
-
MLS number
RS24233803
Home ConditionPoor
Features
ViewNeighborhood
About this home
Possibly Over-Priced:The estimated price is 37% below the list price. We found 3 Cons,5 Pros. Rank: price - $700.0K(85th), sqft - 992(34th), beds - 2(28th), baths - 2(50th).
Welcome to this excellent located home near transportation, freeways, schools, just a few minutes from downtown L.A., Cultural Centers, Stadiums, Fashion district. Big carport attached to the back of the house with an access through the alley.
Price History
Date
Event
Price
03/29/24
Sold
$560,000
10/04/11
Sold
$205,000
08/18/10
Sold
$112,000
12/09/97
Sold
$81,000
Condition Rating
Poor
Built in 1923, this property is 100 years old with no mentioned major renovations. The images reveal a very dated kitchen with old painted cabinets, laminate countertops, and an older refrigerator, along with an equally outdated bathroom featuring basic fixtures and old tiling. The property description and AI analysis explicitly highlight a 'Lack of Modern Updates' and 'Age and Potential Maintenance,' indicating that a buyer should anticipate 'potential significant costs for updating infrastructure, HVAC, and general wear and tear.' This suggests the need for substantial repairs and rehabilitation of major components to meet current standards, aligning with a 'Poor' condition score.
Pros & Cons
Pros
Prime Location: The property boasts an excellent location with convenient access to transportation, freeways, schools, and is just minutes away from downtown L.A., cultural centers, stadiums, and the Fashion District, appealing to a wide range of buyers.
Convenient Parking: A big carport attached to the back of the house with alley access provides valuable off-street parking, a significant advantage in an urban setting like Los Angeles.
Good Lot Size: With a lot size of 3999 sqft, the property offers ample outdoor space for potential landscaping, recreation, or future expansion opportunities, such as an ADU (Accessory Dwelling Unit).
Bathroom Ratio: The property features 2 bathrooms for 2 bedrooms, providing a favorable and convenient ratio for residents, which is often sought after by buyers.
Neighborhood View: The property offers a 'Neighborhood' view, indicating an unobstructed and pleasant immediate environment, contributing positively to the living experience.
Cons
Significant Overpricing: The list price of $700,000 is substantially higher than the estimated value of $440,368.91 and its last sale price of $560,000 in March 2024, making it highly uncompetitive in the current market.
Lack of Modern Updates: The property description does not mention any recent renovations or system upgrades (e.g., plumbing, electrical, roof), which is a significant concern for a 1923-built home, especially when comparable properties have undergone extensive remodeling.
Age and Potential Maintenance: Built in 1923, the property is over 100 years old. Without clear indications of major system replacements, a buyer should anticipate potential significant costs for updating infrastructure, HVAC, and general wear and tear.