1026 Walnut Grove Avenue, Rosemead, California 91770, Rosemead, 91770 - 4 bed, 3 bath
ACTIVE$1,250,000
1026 Walnut Grove Avenue, Rosemead, California 91770
4Beds
3Baths
1,569Sqft
11,190Lot
Year Built
1954
Close
-
List price
$1.25M
Original List price
$1.4M
Price/Sqft
$797
HOA
-
Days on market
-
Sold On
-
MLS number
WS24194878
Home ConditionGood
Features
Deck
View-
About this home
Possibly Over-Priced:The estimated price is 34% below the list price. We found 3 Cons,6 Pros. Rank: price - $1.25M(89th), sqft - 1569(67th), beds - 4(73th), baths - 3(73th).
Single family home on a corner lot ~ Existing 3 bedrooms 3 bathrooms (969 sq.ft.) + Workshop (600 sq.ft.) and a single garage attached. Development opportunity consists of city-approved plans for 4 detached units on the lot, offering a combined total of 3,703 sq.ft. of living space.(Architect plan is available upon request) ~ Close to the freeway, Panda Group and SCE main office ~ A convenient location for many types of rental purposes.
Condition Rating
Good
The property, built in 1954, features recently and extensively renovated bathrooms with modern vanities, fixtures, and contemporary tiling, presenting an excellent condition in these key areas. The main living space also appears updated with modern laminate flooring and recessed lighting, making it move-in ready. However, a critical assessment of the kitchen is not possible due to the absence of images. While the visible updates are significant, the age of the property suggests that major systems (HVAC, electrical, plumbing) may not be within their expected lifespan or have undergone a full recent renovation, preventing an 'Excellent' rating. Assuming the kitchen is at least functional and not in poor condition, the overall property condition leans towards 'Good' due to the substantial modern updates in the visible areas.
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 = 11190, living area = 1569.
Development Opportunity: The property boasts city-approved plans for 4 detached units totaling 3,703 sq.ft. of living space, offering significant potential for investors and developers.
Large Corner Lot: Situated on a generous 11,190 sq.ft. corner lot, providing ample space and flexibility for the approved multi-unit development.
Strategic Location: Conveniently located close to major freeways, the Panda Group, and SCE main office, enhancing its appeal for rental purposes and accessibility.
Existing Workshop Space: Includes a 600 sq.ft. workshop in addition to the main residence, offering immediate functional value for various uses or potential conversion.
Recent Price Adjustment: The list price has been reduced from $1,398,000 to $1,250,000, indicating increased seller motivation and a potentially more competitive entry point for buyers.
Cons
Significant Valuation Discrepancy: The current list price of $1,250,000 is substantially higher than the estimated property value of $821,093.34, suggesting a potential overvaluation for its existing condition.
Age and Condition of Existing Structure: Built in 1954, the existing single-family home is older and likely requires significant renovation or demolition to fully realize the property's development potential.
Limited Appeal as Standalone Home: The existing 3-bedroom, 3-bathroom home offers only 969 sq.ft. of living space (excluding the workshop), which may be considered small and less attractive to traditional single-family home buyers without considering the development aspect.