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1324 E Lomita Avenue, Orange, California 92867, Orange, 92867 - 2 bed, 2 bath

1324 E Lomita Avenue, Orange, California 92867 home-pic-0
ACTIVE UNDER CONTRACT$898,900$1,369/sqft
Est. Value: $862,873
-4%
AboveEstimate
1324 E Lomita Avenue, Orange, California 92867
2Beds
2Baths
1,369Sqft
6,960Lot

Price Vs. Estimate

The estimated value ($862,872.515) is $36,027.485 (4%) lower than the list price ($898,900). This property may be overpriced.

Key pros and cons

Top Pros:
Strong Investment Potential: Explicitly marketed as an 'Investor Dream Opportunity' and 'Investor Special' perfect for fix-and-flip, long-term rental, or personal vision projects.
Top Cons:
Extensive Renovation Required: The property is in 'ORIGINAL condition' and 'in need of a full rehab,' requiring significant capital investment and effort to modernize.

Compared to the nearby listings

Price:$898.9K vs avg $1.23M ($-326,100)7%
Size:1,369 sqft vs avg 1,936 sqft15%
Price/sqft:$657 vs avg $63259%

More Insights

Built in 1956 (70 years old).
Condition: Built in 1956 and explicitly described as being in 'ORIGINAL condition' and 'in need of a full rehab,' this property requires substantial renovation. The kitchen features severely outdated wood cabinets, tile countertops, and old appliances. The bathroom is equally dated with pink floral wallpaper, old fixtures, and worn tile. Flooring throughout (hardwood and carpet) shows significant wear and tear. The listing itself notes 'Outdated Systems and Finishes' and that major systems 'will require complete replacement,' aligning with the 'poor' condition criteria of requiring extensive system replacements and rehabilitation.
Year Built
1956
Close
-
List price
$899K
Original List price
$899K
Price/Sqft
$657
HOA
-
Days on market
-
Sold On
-
MLS number
PW25279447
Home ConditionPoor
Features
Patio
View-

About this home

First time on market in over 36 years! Investor Dream Opportunity or create your Dream Home. In ORIGINAL condition and well laid out, this home is ready for renovation and perfect for investors or buyers looking to create their dream space - Offers will be due Monday January 12th by noon. Unlock the potential of this charming property located in the heart of Orange! This 2-bedroom, 2-bath home offers 1,369 sq. ft. of character and opportunity. Investor Special – This home is in need of a full rehab but is bursting with potential to become a dream home or lucrative investment property. Property Highlights: • Original charm with classic details, hardwood floors, Brick Fireplace with Hearth, Oversized Living room, Separate Laundry Room and Two Spacious Bedrooms• Generous lot with room to enhance outdoor space • Prime location in Orange with strong resale or rental potential • Perfect for fix-and-flip, long-term rental, or personal vision project – This is your chance to bring a diamond in the rough back to life!

S
Steve Ambuehl
Listing Agent
Condition Rating
Poor
Built in 1956 and explicitly described as being in 'ORIGINAL condition' and 'in need of a full rehab,' this property requires substantial renovation. The kitchen features severely outdated wood cabinets, tile countertops, and old appliances. The bathroom is equally dated with pink floral wallpaper, old fixtures, and worn tile. Flooring throughout (hardwood and carpet) shows significant wear and tear. The listing itself notes 'Outdated Systems and Finishes' and that major systems 'will require complete replacement,' aligning with the 'poor' condition criteria of requiring extensive system replacements and rehabilitation.
Pros & Cons

Pros

Strong Investment Potential: Explicitly marketed as an 'Investor Dream Opportunity' and 'Investor Special' perfect for fix-and-flip, long-term rental, or personal vision projects.
Prime Location: Situated in the heart of Orange with 'strong resale or rental potential,' enhancing its long-term value and desirability.
Original Charm and Classic Details: Features like hardwood floors, a brick fireplace, an oversized living room, and a separate laundry room offer character and a solid foundation for renovation.
Generous Lot Size: A 6,960 sq. ft. lot provides ample 'room to enhance outdoor space,' offering potential for landscaping, additions, or creating an ideal backyard.
Long-Term Ownership: Being 'First time on market in over 36 years' suggests a stable property and neighborhood, often appealing to buyers looking for established areas.

Cons

Extensive Renovation Required: The property is in 'ORIGINAL condition' and 'in need of a full rehab,' requiring significant capital investment and effort to modernize.
Outdated Systems and Finishes: Built in 1956, major systems (e.g., plumbing, electrical, HVAC) and interior finishes are likely original and will require complete replacement to meet current standards.
Limited Move-in Readiness: The property's condition makes it unsuitable for buyers seeking a turn-key home, as it demands substantial work before it can be comfortably occupied.
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