8221 Towne Avenue, Los Angeles, California 90003, Los Angeles, 90003 - bed, bath
ACTIVE$658,000
8221 Towne Avenue, Los Angeles, California 90003
0Bed
0Bath
1,344Sqft
4,004Lot
Year Built
1928
Close
-
List price
$658K
Original List price
$658K
Price/Sqft
$490
HOA
-
Days on market
-
Sold On
-
MLS number
OC25082108
Home ConditionFair
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $658.0K(36th), sqft - 1344(10th), beds - undefined(50th), baths - undefined(50th).
Fantastic duplex on a corner lot. Each unit has 2 bedrooms and 1 bath, backyard, and 1-car detached garage. Updated bathrooms in both units. Newer roof. Wrought iron fence in front. Centrally located to schools, shopping centers, and freeways.
Price History
Date
Event
Price
09/26/00
Sold
$5,000
Condition Rating
Fair
Built in 1928, this property is over 90 years old. While the listing mentions 'updated bathrooms' and a 'newer roof,' which are positive, there is no mention of updates to the kitchens, electrical, plumbing, or HVAC systems. Without interior images, especially of the kitchens, it's highly probable these areas are original or very dated, requiring significant renovation to meet modern standards. The property is functional and maintained in some aspects, but major components are likely outdated, aligning with a 'fair' condition.
Pros & Cons
Pros
Income Potential: As a duplex, this property offers immediate residential income potential, appealing to investors or owner-occupants looking to offset mortgage costs with rental income from the second unit.
Corner Lot Advantage: Situated on a corner lot, the property benefits from increased visibility, potentially more natural light, and often greater privacy compared to interior lots.
Key Updates Completed: Both units feature updated bathrooms and the property boasts a newer roof, reducing immediate capital expenditure for a new owner on these significant components.
Detached Garages: Each unit includes a 1-car detached garage, providing valuable off-street parking, storage, or potential for future conversion (e.g., ADU, subject to local regulations).
Central Location: The property's central location near schools, shopping centers, and freeways enhances its desirability for tenants and owner-occupants, contributing to strong rental demand and property value.
Cons
Age of Property: Built in 1928, the property's age suggests potential for older infrastructure (e.g., plumbing, electrical systems) that may not have been updated, leading to unforeseen maintenance or upgrade costs.
Small Unit Footprint: With a total of 1344 sqft for two 2-bedroom, 1-bath units, each unit is approximately 672 sqft, which is relatively small and could limit tenant appeal or rental income potential compared to larger units.
Limited System Updates Mentioned: While bathrooms and roof are updated, the description does not specify updates to other critical systems like kitchens, HVAC, electrical, or plumbing, which could represent significant future expenses for a buyer.