8917 Bandera Street, Los Angeles, California 90002, Los Angeles, 90002 - 2 bed, 1 bath
ACTIVE$595,000
8917 Bandera Street, Los Angeles, California 90002
2Beds
1Bath
880Sqft
5,362Lot
Year Built
1908
Close
-
List price
$595K
Original List price
$595K
Price/Sqft
$676
HOA
-
Days on market
-
Sold On
-
MLS number
IG25114116
Home ConditionGood
Features
View-
About this home
Possibly Over-Priced:The estimated price is 32% below the list price. We found 3 Cons,5 Pros. Rank: price - $595.0K(50th), sqft - 880(31th), beds - 2(35th), baths - 1(48th).
Great starter home with endless potential on adding living square footage to add extra bedrooms and bathrooms or an ADU, is just a minutes from the city of Los Angeles, recently renovated. This opportunity won't last long, motivated seller.
Price History
Date
Event
Price
02/22/24
Sold
$599,000
08/01/23
Sold
$440,000
Condition Rating
Good
The property is described as 'recently renovated' and appears move-in ready based on the fresh exterior paint, new roof, and newer windows visible in the image. While the home was built in 1908, the recent renovations suggest updated features. However, without interior photos, especially of the kitchen and bathroom, and given the property's age which may imply older underlying systems despite cosmetic updates, an 'Excellent' rating cannot be fully justified. It fits the 'Good' criteria of being move-in ready with recent updates, but not necessarily 'all components new or virtually new'.
Pros & Cons
Pros
Renovation: The property has been recently renovated, offering updated features and a move-in ready condition for a starter home.
ADU/Expansion Potential: The description highlights 'endless potential' for adding living square footage, extra bedrooms, bathrooms, or an Accessory Dwelling Unit (ADU), which can significantly increase future value and utility.
Generous Lot Size: With a lot size of 5,362 sqft, there is ample outdoor space and room to support the advertised expansion or ADU development.
Proximity to Los Angeles: Located 'just minutes from the city of Los Angeles,' offering convenient access to urban amenities, employment centers, and cultural attractions.
Motivated Seller: The seller is explicitly stated as 'motivated,' which could present a favorable negotiation opportunity for potential buyers.
Cons
Significant Overpricing: The current list price of $595,000 is substantially higher than the estimated property value of $398,806 and recent comparable sales, indicating a potential valuation mismatch and making it less competitive.
Small Interior Square Footage: At 880 sqft, the interior living space is quite compact for a 2-bedroom home, which may limit its appeal to buyers seeking more spacious accommodations.
Age of Property: Built in 1908, despite recent renovations, the property's age may lead to unforeseen maintenance issues or require more extensive system upgrades beyond cosmetic improvements.