1020 S Mcbride Avenue, East Los Angeles, California 90022, East Los Angeles, 90022 - bed, bath
ACTIVE$745,000
1020 S Mcbride Avenue, East Los Angeles, California 90022
0Bed
0Bath
1,440Sqft
5,627Lot
Price Vs. Estimate
The estimated value ($678,498.87) is $66,501.13 (8%) lower than the list price ($745,000). This property may be overpriced.
Key pros and cons
Top Pros:
Income-Generating Potential: The property features two separate 3-bedroom, 2-bathroom homes on one lot, each with individual laundry and separate utility meters, making it an ideal and flexible income-producing asset.
Top Cons:
Overpriced Relative to Market Estimation: The current listing price of $745,000 is 8% higher than the estimated property value of $678,498.87, suggesting it may be overvalued in the current market and could require further price adjustments.
Compared to the nearby listings
Price:$745.0K vs avg $820.0K ($-75,000)18%
Size:1,440 sqft vs avg 1,994 sqft12%
Price/sqft:$517 vs avg $40876%
More Insights
Built in 1922 (103 years old).
Condition: Built in 1922, this property is over 100 years old. While the electrical panels have been upgraded, there is no evidence of recent, extensive renovations to other major systems like plumbing, HVAC, or roofing, which are likely original or very old and will require substantial rehabilitation. The exterior shows significant wear and tear, with aged stucco, cracked concrete, and temporary tarp coverings over patio areas. The absence of interior photos prevents a detailed assessment of kitchens and bathrooms, but given the property's age and visible exterior condition, these areas are highly likely to be outdated and in need of major renovation.
Year Built
1922
Close
-
List price
$745K
Original List price
$765K
Price/Sqft
$517
HOA
-
Days on market
-
Sold On
-
MLS number
CV25119846
Home ConditionPoor
Features
Patio
View-
About this home
Great income producing units in prime area, located in county of LA area! 2 homes on one lot (1020 and 1022 Mcbride Ave.) Front and Back home are 3 bed and 2 bath. Both homes have 2 parking spots, laundry, separate utility meters. Both units have upgraded electric panels. Property is fully gated, long driveway. Centrally located near shopping centers and easy access to 710/5/60 freeways. Do not miss out on this opportunity!
Price History
Date
Event
Price
10/03/94
Sold
$136,000
Condition Rating
Poor
Built in 1922, this property is over 100 years old. While the electrical panels have been upgraded, there is no evidence of recent, extensive renovations to other major systems like plumbing, HVAC, or roofing, which are likely original or very old and will require substantial rehabilitation. The exterior shows significant wear and tear, with aged stucco, cracked concrete, and temporary tarp coverings over patio areas. The absence of interior photos prevents a detailed assessment of kitchens and bathrooms, but given the property's age and visible exterior condition, these areas are highly likely to be outdated and in need of major renovation.
Pros & Cons
Pros
Income-Generating Potential: The property features two separate 3-bedroom, 2-bathroom homes on one lot, each with individual laundry and separate utility meters, making it an ideal and flexible income-producing asset.
Strategic Location & Accessibility: Located in a prime East Los Angeles area, the property offers excellent connectivity with easy access to major freeways (710/5/60) and proximity to shopping centers, enhancing its appeal to tenants and future buyers.
Key Infrastructure Upgrades: Both units have upgraded electrical panels, a significant and costly improvement for a property built in 1922, reducing immediate maintenance concerns and enhancing safety.
Enhanced Privacy & Parking: The property is fully gated and includes a long driveway, providing security, privacy, and dedicated parking (two spots per unit) for residents.
Desirable Unit Configuration: Each unit offers a 3-bedroom, 2-bathroom layout, which is highly sought after by families or multiple tenants, maximizing rental income potential and market demand.
Cons
Overpriced Relative to Market Estimation: The current listing price of $745,000 is 8% higher than the estimated property value of $678,498.87, suggesting it may be overvalued in the current market and could require further price adjustments.
Age of Property & Unspecified Condition of Major Systems: Built in 1922, despite electrical upgrades, the property's age implies potential for significant future maintenance or renovation costs for other major systems like plumbing, HVAC, or roofing, which are not detailed as recently updated.
Compact Unit Layouts: With a total of 1440 sqft for two 3-bedroom, 2-bathroom units, each unit is approximately 720 sqft, which is a relatively small footprint for its bedroom count and might be perceived as compact by some renters or buyers seeking more spacious living.