11178 Locust Ave, Bloomington, California 92316, Bloomington, 92316 - 3 bed, 1 bath
ACTIVE$900,000
11178 Locust Ave, Bloomington, California 92316
3Beds
1Bath
2,124Sqft
16,800Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Expansive Lot Size: The property boasts an impressive 16,800 square foot lot, providing ample space for various uses and significant future potential.
Top Cons:
Outdated Home Features & Limited Bathrooms: Built in 1948 with only one bathroom for three bedrooms, the existing structure likely requires extensive modernization and renovation to meet contemporary living standards and family needs.
Compared to the nearby listings
Price:$900.0K vs avg $545.0K (+$355,000)94%
Size:2,124 sqft vs avg 1,372 sqft94%
Price/sqft:$424 vs avg $41353%
More Insights
Built in 1948 (77 years old).
Condition: The property was built in 1948, making it over 50 years old, and there is no indication of any major renovations in the past 50 years. The MLS description explicitly states, 'The true value of this property is in the land, offering endless possibilities for expansion, redevelopment, or building an additional dwelling unit (ADU),' which directly aligns with the 'tear-down' criterion that the property's value is based solely on the land and its potential for redevelopment. The exterior images also depict a very dated and unmaintained structure, further supporting the assessment that the existing house is likely considered beyond practical repair for modern living and is a candidate for demolition to maximize the land's potential.
Year Built
1948
Close
-
List price
$900K
Original List price
$1.2M
Price/Sqft
$424
HOA
-
Days on market
-
Sold On
-
MLS number
OC25043561
Home ConditionTear down
Features
Good View: Mountain(s)
ViewMountain(s)
About this home
Incredible opportunity in Bloomington! This 3-bedroom, 1-bath home sits on an expansive 16,800 square foot lot, making it ideal for both homeowners and investors. The true value of this property is in the land, offering endless possibilities for expansion, redevelopment, or building an additional dwelling unit (ADU). With ample space, this lot presents a rare chance to create a multi-unit investment property, a custom home, or a large outdoor retreat. Located in a prime area of Bloomington, the property provides convenient access to the 10 and the 215 freeway, Palm shopping center, and schools. Whether you're looking for your next home or an investment with significant upside potential, this property is a must-see. Don't miss out on this rare opportunity to capitalize on the potential of this oversized lot. Contact us today for more information or to schedule a private tour.
Condition Rating
Tear down
The property was built in 1948, making it over 50 years old, and there is no indication of any major renovations in the past 50 years. The MLS description explicitly states, 'The true value of this property is in the land, offering endless possibilities for expansion, redevelopment, or building an additional dwelling unit (ADU),' which directly aligns with the 'tear-down' criterion that the property's value is based solely on the land and its potential for redevelopment. The exterior images also depict a very dated and unmaintained structure, further supporting the assessment that the existing house is likely considered beyond practical repair for modern living and is a candidate for demolition to maximize the land's potential.
Pros & Cons
Pros
Expansive Lot Size: The property boasts an impressive 16,800 square foot lot, providing ample space for various uses and significant future potential.
Strong Development Potential: The oversized lot is explicitly highlighted as ideal for expansion, redevelopment, building an Additional Dwelling Unit (ADU), or creating a multi-unit investment property, offering substantial upside.
Strategic Location & Accessibility: Located in a prime area of Bloomington, the property offers convenient access to major freeways (I-10 and I-215), shopping centers, and schools, enhancing its appeal for residents and investors.
Aesthetic Appeal (Mountain Views): The property features desirable mountain views, adding to its scenic value and overall desirability.
Significant Price Adjustment: A substantial price reduction from $1,200,000 to $900,000 indicates a motivated seller and potentially a more attractive entry point for buyers or investors.
Cons
Outdated Home Features & Limited Bathrooms: Built in 1948 with only one bathroom for three bedrooms, the existing structure likely requires extensive modernization and renovation to meet contemporary living standards and family needs.
Substantial Additional Investment Required: While the land offers immense potential, realizing this potential (e.g., ADU construction, redevelopment) will necessitate significant further capital outlay beyond the purchase price for permits and construction.
High Entry Price for Condition: Despite the recent price reduction, the $900,000 list price is a considerable investment for an older home that primarily offers land value and requires substantial upgrades or redevelopment to maximize its utility.