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11138 Laurel Avenue, Bloomington, California 92316, Bloomington, 92316 - 3 bed, 2 bath

11138 Laurel Avenue, Bloomington, California 92316 home-pic-0
ACTIVE$2,999,888
11138 Laurel Avenue, Bloomington, California 92316
3Beds
2Baths
1,694Sqft
104,544Lot

Price Vs. Estimate

The estimated value ($2,887,392.615) is $112,495.385 (3%) lower than the list price ($2,999,888). 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 = 104544, living area = 1694.
Top Cons:
Age of Existing Structure: Built in 1944, the existing 1,694 sq. ft. residence may require substantial renovation or demolition depending on the buyer's development plans, adding to overall project costs.

Compared to the nearby listings

Price:$3.00M vs avg $545.0K (+$2,454,888)98%
Size:1,694 sqft vs avg 1,372 sqft75%
Price/sqft:$1.8K vs avg $41396%

More Insights

Built in 1944 (81 years old).
Condition: The property, built in 1944, features a well-maintained house with significant updates in key areas. The kitchen boasts updated white cabinetry, stainless steel appliances, a farmhouse sink, and modern LVP flooring, suggesting a renovation within the last 5-15 years. Both bathrooms also appear updated with modern vanities, tiled showers/tubs, and contemporary flooring. While the overall structure is older and some elements like windows may not be new, the critical living spaces are move-in ready with no immediate renovation required, aligning with the 'good' condition criteria for a property that has undergone substantial updates.
Year Built
1944
Close
-
List price
$3M
Original List price
$4M
Price/Sqft
$1,771
HOA
-
Days on market
-
Sold On
-
MLS number
IG24248241
Home ConditionGood
Features
Good View: Neighborhood, Trees/Woods
ViewNeighborhood, Trees/Woods

About this home

Excellent Equestrian Property or Development Opportunity in a Prime Bloomington Location! Take advantage of this rare opportunity to own 2.4 acre equestrian property with a house situated in a highly sought-after area of Bloomington. Ideal for horse lovers, developers, builders, and investors. This property offers immense potential for future growth and development. The property includes a well-maintained 3-bedroom, 2-bathroom house, with approximately 1,694 sq. ft. of living space. Zoned BL/RS-1-AA Single Residential with a one-acre minimum lot size and additional agricultural overlay, this land is primed for residential and commercial possibilities. This property also allows for truck parking and future development of concrete tilt-up warehouses with other warehouse development plans and construction already in effect in the immediate area. This prime location offers a wealth of options for developers looking to maximize potential in a growing area. Don’t miss out—contact us today to explore how this land can work for your next big project!

Condition Rating
Good
The property, built in 1944, features a well-maintained house with significant updates in key areas. The kitchen boasts updated white cabinetry, stainless steel appliances, a farmhouse sink, and modern LVP flooring, suggesting a renovation within the last 5-15 years. Both bathrooms also appear updated with modern vanities, tiled showers/tubs, and contemporary flooring. While the overall structure is older and some elements like windows may not be new, the critical living spaces are move-in ready with no immediate renovation required, aligning with the 'good' condition criteria for a property that has undergone substantial updates.
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 = 104544, living area = 1694.
Exceptional Development Potential: The 2.4-acre lot with BL/RS-1-AA zoning, agricultural overlay, and explicit allowance for truck parking and concrete tilt-up warehouse development offers significant commercial and residential opportunities.
Strategic Location: Situated in a 'prime Bloomington location' with ongoing warehouse development in the immediate area, indicating strong growth potential and excellent accessibility for commercial ventures.
Versatile Use Case: Appeals to a broad range of buyers including horse lovers, developers, builders, and investors, maximizing market reach and potential buyer pool.
Substantial Land Size: The generous 2.4-acre (104,544 sqft) lot provides ample space for various large-scale development projects or a significant private estate, a rare asset in many markets.
Existing Livable Residence: A well-maintained 3-bedroom, 2-bathroom house offers immediate occupancy or rental income potential, providing flexibility during the planning or development phase.

Cons

Age of Existing Structure: Built in 1944, the existing 1,694 sq. ft. residence may require substantial renovation or demolition depending on the buyer's development plans, adding to overall project costs.
Significant Capital Investment Required: The nearly $3 million list price, combined with the inherent costs of developing a 2.4-acre site for commercial or residential purposes, necessitates a substantial capital outlay beyond the purchase price.
Market Perception from Price Reduction: The notable reduction from an original list price of $3,999,900 to $2,999,888 could suggest an initial overvaluation or a longer sales cycle, potentially impacting buyer confidence or perceived value.

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