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1506 W 54th Street, Los Angeles, California 90062, Los Angeles, 90062 - 3 bed, 2 bath

1506 W 54th Street, Los Angeles, California 90062 home-pic-0
ACTIVE$1,099,000
1506 W 54th Street, Los Angeles, California 90062
3Beds
2Baths
1,682Sqft
5,248Lot

Price Vs. Estimate

The estimated value ($969,738.91) is $129,261.09 (11%) lower than the list price ($1,099,000). This property may be overpriced.

Key pros and cons

Top Pros:
Multi-Unit Income & Expansion Potential: The property includes a detached 2-bedroom, 1-bath ADU for immediate rental income or extended family use, with the significant potential to convert the two-car garage into an additional ADU.
Top Cons:
Age of Original Construction: Built in 1914, the property's original structure, despite recent remodels, may still have underlying older systems or components that could require future maintenance or upgrades.

Compared to the nearby listings

Price:$1.10M vs avg $780.0K (+$319,000)78%
Size:1,682 sqft vs avg 1,301 sqft68%
Price/sqft:$653 vs avg $55873%

More Insights

Built in 1914 (111 years old).
Condition: Despite being built in 1914, this property has undergone an extensive and recent renovation, as evidenced by the 'remodeled' and 'beautifully updated' description and the images. Both the main house and ADU feature modern kitchens with new appliances, contemporary cabinetry, and updated countertops. Bathrooms are completely renovated with stylish tiles, modern vanities, and new fixtures. The property boasts fresh flooring (hardwood and tile), new paint, and modern light fixtures throughout, indicating all components are virtually new and meet current quality standards. It is move-in ready with no deferred maintenance.
Year Built
1914
Close
-
List price
$1.1M
Original List price
$1.05M
Price/Sqft
$653
HOA
-
Days on market
-
Sold On
-
MLS number
25601071
Home ConditionExcellent
Features
Patio
View-

About this home

Welcome to 1506 W 54 th Street A flexible and remodeled vacant Multi-Unit Opportunity! A beautifully updated single-family residence offers 3 bedrooms and 2 bathrooms, showcasing modern finishes and thoughtful upgrades throughout. Step inside to an inviting, open-concept layout with fresh flooring, updated kitchen and bathrooms, and ample natural light perfect for comfortable living or entertaining. In the rear of the property, a detached 2nd story, 2- bedroom, 1-bath ADU provides excellent income potential, ideal for rental, extended family or guests. A two car garage offers the possibility of being converted into an additional ADU. Situated on a sizable lot with ample parking, this property presents a rare opportunity for both owner-users and investors alike. Whether you're looking to live in one unit and rent the other, or add a strong performer to your portfolio, 1506 W 54th St offers function and style in a central location. Don't miss this move-in ready, multi-unit gem.

Condition Rating
Excellent
Despite being built in 1914, this property has undergone an extensive and recent renovation, as evidenced by the 'remodeled' and 'beautifully updated' description and the images. Both the main house and ADU feature modern kitchens with new appliances, contemporary cabinetry, and updated countertops. Bathrooms are completely renovated with stylish tiles, modern vanities, and new fixtures. The property boasts fresh flooring (hardwood and tile), new paint, and modern light fixtures throughout, indicating all components are virtually new and meet current quality standards. It is move-in ready with no deferred maintenance.
Pros & Cons

Pros

Multi-Unit Income & Expansion Potential: The property includes a detached 2-bedroom, 1-bath ADU for immediate rental income or extended family use, with the significant potential to convert the two-car garage into an additional ADU.
Extensively Remodeled & Move-in Ready: The main residence features modern finishes, fresh flooring, updated kitchen and bathrooms, and an open-concept layout, ensuring it is move-in ready with no immediate renovation needs.
Versatile Investment/Owner-User Opportunity: This property offers flexibility for both owner-occupants seeking to offset housing costs with rental income and investors looking for a strong performing asset in their portfolio.
Central Los Angeles Location: Situated in a central Los Angeles location, providing convenient access to urban amenities, employment hubs, and contributing to its long-term appreciation potential.
Sizable Lot with Ample Parking: The property benefits from a sizable lot and ample parking, a valuable and often scarce commodity in dense urban areas like Los Angeles.

Cons

Age of Original Construction: Built in 1914, the property's original structure, despite recent remodels, may still have underlying older systems or components that could require future maintenance or upgrades.
Lack of Mentioned Cooling System: The description does not specify the presence of a cooling system (e.g., central air conditioning), which could be a significant comfort consideration during Los Angeles' warmer months.
Absence of Desirable Views: The property explicitly states 'View: None,' which may be a drawback for buyers prioritizing scenic outlooks or panoramic vistas.

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