1023 De Garmo Drive, City Terrace, California 90063, City Terrace, 90063 - 2 bed, 1 bath
ACTIVE$550,000
1023 De Garmo Drive, City Terrace, California 90063
2Beds
1Bath
606Sqft
7,500Lot
Price Vs. Estimate
The estimated value ($510,925.195) is $39,074.805 (7%) lower than the list price ($550,000). This property may be overpriced.
Key pros and cons
Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7500, living area = 606.
Top Cons:
Significant Renovation Required: The property 'needs some work' and 'may not qualify FHA financing,' indicating substantial repairs and updates are necessary, which will require additional investment and may limit buyer financing options.
Compared to the nearby listings
Price:$550.0K vs avg $684.5K ($-134,500)27%
Size:606 sqft vs avg 1,014 sqft2%
Price/sqft:$908 vs avg $60194%
More Insights
Built in 1938 (87 years old).
Condition: Built in 1938, this property is explicitly described as needing 'some work' and 'may not qualify FHA financing,' indicating substantial repairs are required. The images confirm a dilapidated exterior with visible signs of neglect, including worn stucco, makeshift window supports, and an unkempt yard. Given its age and the stated need for significant renovation, it's highly probable that the kitchen, bathrooms, and all major systems (electrical, plumbing, HVAC) are severely outdated and require complete overhaul or replacement. The property is far from move-in ready and presents significant defects that affect its overall condition and habitability.
Year Built
1938
Close
-
List price
$550K
Original List price
$550K
Price/Sqft
$908
HOA
-
Days on market
-
Sold On
-
MLS number
MB25028128
Home ConditionPoor
Features
Good View: Peek-A-Boo
Patio
ViewPeek-A-Boo
About this home
EXCELLENT LOCATION, CONVENIENTLY LOCATED ONLY A FEW MINUTES FROM DOWNTOWN LOS ANGELES. MANY AMENITIES NEARBY, SHOPPING, TRANSPORTATION, GROCERIES AND CONVENIENTLY LOCATED NEAR FREEWAYS. DON'T MISS THIS ONE, IT WILL NOT LAST. NEEDS SOME WORK MAY NOT QUALIFY FHA FINANCING.
Condition Rating
Poor
Built in 1938, this property is explicitly described as needing 'some work' and 'may not qualify FHA financing,' indicating substantial repairs are required. The images confirm a dilapidated exterior with visible signs of neglect, including worn stucco, makeshift window supports, and an unkempt yard. Given its age and the stated need for significant renovation, it's highly probable that the kitchen, bathrooms, and all major systems (electrical, plumbing, HVAC) are severely outdated and require complete overhaul or replacement. The property is far from move-in ready and presents significant defects that affect its overall condition and habitability.
Pros & Cons
Pros
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7500, living area = 606.
Exceptional Location: The property boasts an excellent location, just minutes from Downtown Los Angeles, providing convenient access to employment centers, entertainment, and cultural attractions.
Excellent Accessibility & Amenities: Conveniently situated near major freeways, public transportation, shopping centers, and grocery stores, enhancing daily living and commute efficiency.
Generous Lot Size: A substantial 7,500 sqft lot offers significant outdoor space, potential for landscaping, future expansion, or the addition of an Accessory Dwelling Unit (ADU), subject to local zoning.
Investment & Value-Add Potential: Given its prime location and need for renovation, the property presents a strong opportunity for investors or owner-occupants to add significant value and realize future appreciation.
Partial City Views: The property offers 'Peek-A-Boo' views, adding a desirable aesthetic element and enhancing its overall appeal.
Cons
Significant Renovation Required: The property 'needs some work' and 'may not qualify FHA financing,' indicating substantial repairs and updates are necessary, which will require additional investment and may limit buyer financing options.
Limited Living Space: With only 606 sqft of interior living area, the property is considerably small for a single-family residence, potentially limiting its appeal to a broader buyer pool.
Above Estimated Market Value: The current list price of $550,000 is higher than the estimated property value of $510,925, suggesting it may be overpriced given its condition and size.