106 N Ridgewood Place, Los Angeles, California 90004, Los Angeles, 90004 - 3 bed, 2 bath

106 N Ridgewood Place, Los Angeles, California 90004 home-pic-0

106 N Ridgewood Place

Los Angeles, California 90004

ACTIVE UNDER CONTRACT
CONDITION: FAIR
3Beds
2Baths
1,649Sq Ft
5,622Lot Size

Property Price

LIST PRICE$1,699,000
EST. MARKET VALUE
$1,349,630
20% AboveMARKET VALUE

SUMMARY

Analysis of 106 N Ridgewood Place, Los Angeles, California 90004 reveals a property with a current list price of $1,699,000, which is 20% above the estimated $1,349,630 Fair Market Value. Buyers should carefully evaluate the pricing and consider negotiation opportunities. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Los Angeles Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.

Estimated Market Value

$1,349,630
Based on Realkey algorithm analyzing recent comparable sales in Los Angeles.

Comparable Sales Map

Comparables within 1 miles sold in recently

Address Sold Price BedsBathsSq Ft$/SqftDistance
106 N Ridgewood Place
Subject
$1,699,000*
List Price
321,649$818-
A
568 N Gower Street
Sold
$1,953,000321,544$1,2650.7 mi
B
580 N Beachwood Drive
Sold
$1,765,500321,747$1,0110.7 mi
C
561 N Plymouth Boulevard
Sold
$1,580,000321,565$1,0100.6 mi
D
616 Lillian Way
Sold
$1,735,000321,774$9781.0 mi
E
157 S Larchmont Boulevard
Sold
$1,550,000321,380$1,1230.6 mi
F
259 S St Andrews Place
Sold
$2,150,000332,163$9940.3 mi
G
5021 Elmwood Avenue
Active Under Contract
$1,235,000
List Price
311,671$7390.4 mi

* Subject property listed price vs sold prices of comps.

Condition Analysis

OVERALL CONDITION SCORE

Fair
TeardownExcellent

Property is moderate renovation needed.

The property, built in 1919, is well-maintained and has good bones, as evidenced by the hardwood floors and overall cleanliness. However, the kitchen features dated mosaic tile backsplash, tile countertops, and checkerboard floor tiles, indicating it has not been extensively renovated recently. While the description mentions a 'newer stove,' the overall kitchen aesthetic is clearly outdated. The bathrooms, though clean and functional, also show signs of age with classic pedestal sinks, small hexagonal floor tiles, and older light fixtures, suggesting they are not modern. The listing itself states the home is 'prime for remodel and/or expansion,' reinforcing that significant updates are needed to meet current quality standards and styles. This aligns with the 'fair' criteria of requiring minor updates and showing signs of being outdated, with renovations likely 15-30 years ago.

PROSSTRENGTHS & OPPORTUNITIES

  • Prime Location

    Situated in the highly desirable Hancock Park / Larchmont Village area, known for its quiet streets, proximity to local amenities like coffee shops, the Farmer's Market, and restaurants.

  • Significant Value-Add Potential

    The property is explicitly described as 'prime for remodel and/or expansion' and features a detached garage ready for conversion into an office or ADU, offering substantial upside for customization and increased value.

  • Historic Charm and Character

    Built in 1919, the home 'exudes character' with features like crown moldings and a decorative fireplace, appealing to buyers seeking classic architectural style.

CONSRISKS & DEFICIENCIES

  • Age and Potential for Outdated Systems

    As a 1919-built home, despite being 'well maintained,' it likely has older infrastructure (e.g., plumbing, electrical, HVAC) that may require significant investment to update to modern standards.

  • Required Capital Investment for Modernization

    The listing emphasizes it's 'prime for remodel' and offers 'endless opportunities' to 'renovate into something sleek and new,' indicating that substantial additional capital will be needed post-purchase to realize its full potential.

  • Lack of Explicit Modern Amenities

    The description highlights character but does not mention modern conveniences such as central air conditioning, which could be a drawback for comfort in Los Angeles' climate.

About 106 N Ridgewood Place

Excellent opportunity for owner-users or investors. Welcome to this charming Hancock Park / Larchmont Village home. This 1919 built home exudes character, has been well maintained and is ready for its next chapter. First time on market in nearly 30 years. Prime for remodel and/or expansion to make it truly your own. Set back from the street, the front walkway leads to character home that has been loved and has so much potential. Enter into the spacious living room with crown moldings, decorative fireplace and great natural light. The dining room flows into an open kitchen, ideal for entertaining. The kitchen includes breakfast area and wet bar, with newer stove. The enclosed den opens to an oversized deck. and makes for a great work from home space, or playroom. The large primary bedroom has an en-suite bath and laundry. Low water landscaping and beautiful trees along driveway. Detached garage ready to be converted to an office, or ADU. Phenomenal location on a quiet street, close to Larchmont, coffee shops, Farmer's Market and restaurants. The possibilities are endless with this great property. Seeking to move right into your first home in an exceptional neighborhood, or renovate into something sleek and new, or expand into a larger home with ADU and a pool. Endless opportunities with the classic find. Do Not Disturb Occupants, will be delivered vacant.

Property Details

Public Facts

Property Type
Single Family Residence
Year Built
1919
Lot Size
5,622 Sq. Ft.

Interior

Total Bedrooms
3
Total Bathrooms
2 (2 Full, 0 Half)

Exterior & Parking

No exterior & parking available.

Utilities & Misc

HOA Fee
$0 / Month

Neighborhood Insights

Los Angeles Unified Schools

Van Ness Avenue Elementary School

Grades K-5 • 0.5 mi

6/10

Wilshire Park Elementary School

Grades K-5 • 0.9 mi

6/10

Third Street Elementary School

Grades K-5 • 1.2 mi

8/10

Sensitive Facilities

No sensitive facilities data found.

Neighborhood Comparison

FeatureSubjectAverage HomeNeighborhood Ranking (50 Listings)
Beds3.03.0
50%
Baths2.03.0
34%
Square foot1,6492,460
17%
Lot Size5,6226,756
23%
Price$1.70M$2.14M
42%
Price per sq ft$1.0K$960
62%
Built year19191922
28%
HOA$0$0
50%
Days on market689178
0%

Pricing History

Sold

May 30, 2024

$1,685,000

Public Record

Sold

Jun 15, 1994

$230,000

Public Record

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