142 W 85th Street, Los Angeles, California 90003, Los Angeles, 90003 - 2 bed, 1 bath
ACTIVE$399,000
142 W 85th Street, Los Angeles, California 90003
2Beds
1Bath
1,144Sqft
5,400Lot
Price Vs. Estimate
The estimated value ($275,147.92) is $123,852.08 (31%) lower than the list price ($399,000). This property may be overpriced.
Key pros and cons
Top Pros:
Development & Expansion Potential: The property sits on a generously sized lot (5400 sqft) and is zoned LAC2, offering significant opportunities for future development or expansion, which is a major value driver in Los Angeles.
Top Cons:
Age and Potential System Updates: Built in 1912, the property is over a century old, suggesting that major systems (plumbing, electrical, HVAC) may be original and could require significant updates or maintenance.
Compared to the nearby listings
Price:$399.0K vs avg $593.0K ($-194,000)8%
Size:1,144 sqft vs avg 1,100 sqft53%
Price/sqft:$349 vs avg $50414%
More Insights
Built in 1912 (113 years old).
Condition: Built in 1912, this property shows extreme signs of neglect and disrepair, particularly in the kitchen. The kitchen features a severely damaged or unfinished ceiling, very old and dirty appliances, and outdated cabinetry, rendering it unlivable in its current state. The exterior also exhibits significant deferred maintenance, including peeling paint and a rusty fence. There is no evidence of major renovations in the past 50 years. The property's value appears to be primarily in its land and development potential, as suggested by the listing description, rather than the existing structure.
Year Built
1912
Close
-
List price
$399K
Original List price
$489K
Price/Sqft
$349
HOA
-
Days on market
-
Sold On
-
MLS number
25579473
Home ConditionTear down
Features
Patio
View-
About this home
Look at This charming 2-bedroom, 1-bath home is located in an amazing neighborhood and offers incredible potential. MOVE IN ASAP. The property sits on a generously sized lot, zoned LAC2, opening the door to development or expansion opportunities (buyer to verify). Features include: Detached garage ideal for a possible ADU conversion. Spacious yard perfect for entertaining, gardening, or future development, situated in a highly desirable area with strong appeal.
Condition Rating
Tear down
Built in 1912, this property shows extreme signs of neglect and disrepair, particularly in the kitchen. The kitchen features a severely damaged or unfinished ceiling, very old and dirty appliances, and outdated cabinetry, rendering it unlivable in its current state. The exterior also exhibits significant deferred maintenance, including peeling paint and a rusty fence. There is no evidence of major renovations in the past 50 years. The property's value appears to be primarily in its land and development potential, as suggested by the listing description, rather than the existing structure.
Pros & Cons
Pros
Development & Expansion Potential: The property sits on a generously sized lot (5400 sqft) and is zoned LAC2, offering significant opportunities for future development or expansion, which is a major value driver in Los Angeles.
ADU Conversion Opportunity: The presence of a detached garage provides an ideal setup for a potential Accessory Dwelling Unit (ADU) conversion, adding significant income potential or flexible living space.
Significant Price Reduction: The list price has been reduced from $489,000 to $399,000, indicating a compelling value proposition and potential for a motivated seller.
Desirable Neighborhood Appeal: Located in an 'amazing' and 'highly desirable area with strong appeal,' suggesting a sought-after location that enhances long-term value.
Immediate Occupancy & Charm: Described as 'charming' and 'MOVE IN ASAP,' the home offers immediate occupancy and character, appealing to buyers looking for a ready-to-live property.
Cons
Age and Potential System Updates: Built in 1912, the property is over a century old, suggesting that major systems (plumbing, electrical, HVAC) may be original and could require significant updates or maintenance.
Limited Bathroom Count: With only one bathroom for a two-bedroom home, it may not meet the needs of all modern buyers and could be a limiting factor for families or resale value.
Modest Interior Square Footage: At 1144 sqft, the interior living space is relatively modest, which might feel restrictive for some buyers or limit the potential for larger families.