1517 Simmons Avenue, Los Angeles, California 90022, Los Angeles, 90022 - 3 bed, 3 bath

1517 Simmons Avenue, Los Angeles, California 90022 home-pic-0
ACTIVE$899,999
1517 Simmons Avenue, Los Angeles, California 90022
3Beds
3Baths
2,070Sqft
3,933Lot

Price Vs. Estimate

The estimated value ($725,859.565) is $174,139.435 (19%) lower than the list price ($899,999). This property may be overpriced.

Key pros and cons

Top Pros:
R3 Zoning for Multi-Unit Development: The property boasts R3 zoning, offering significant future potential for expansion and the ability to build up to four units, which is a substantial value-add for investors or those seeking rental income.
Top Cons:
Overpriced Relative to Market Estimation: The current list price of $899,999 is significantly higher than the estimated property value of $725,859.565, suggesting it may be priced above current market expectations.

Compared to the nearby listings

Price:$900.0K vs avg $670.0K (+$229,999)97%
Size:2,070 sqft vs avg 1,052 sqft97%
Price/sqft:$435 vs avg $59217%

More Insights

Built in 1942 (83 years old).
Condition: Built in 1942, the property shows signs of regular maintenance but features significantly outdated interior finishes. The kitchen, despite being described as a 'chef's dream,' has dated light wood cabinets, tile countertops, and fluorescent panel lighting. Bathrooms, including an open shower area with a curtain in one bedroom, also appear dated. Flooring consists of a mix of white tile and old carpets (green shag, dark blue). Popcorn ceilings are prevalent. While functional and clean, the property requires substantial cosmetic updates to meet current quality and style standards, aligning with a renovation period of 15-30 years ago.
Year Built
1942
Close
-
List price
$900K
Original List price
$900K
Price/Sqft
$435
HOA
-
Days on market
-
Sold On
-
MLS number
DW25009967
Home ConditionFair
Features
Patio
View-

About this home

This is the opportunity to make a home, work for you or simple enjoy what it offers- choice is yours. Spacious, Adaptable and Centrally located are definitely words to describe this home. If you like Numerology, this is a 5 Home- social, adaptable, and full of fresh energy. This makes the vibration of this house perfect for those who want to have fun, fun, and more fun! If you love to entertain, enjoy being the go-to house on the block, or simply want to get the most out of life, look for a home with a 5 address. And this home is no Exception with entertainers layout or space for multiple or large families so the party never ends. Dreams of future expansion? This home is zoned R3 for the ability to build up to 4 units in the future but for now, this home serves space, ambiance and excellent location close to everything you could need and want. 1517 Simmons offers 3 bedrooms, 3 bathrooms and over 2,070 sq ft. Front entrance allows for foyer, living area, open concept kitchen and dining with oversize Island, Double oven, Ample Cooking Prep space and cabinets for storage. Kitchen is every chef's dream. Downstairs offers two large bedrooms with wall to wall and a full bathroom. Updated windows bring in an abundance of natural light. Second story offers oversized master suite with jacuzzi, his and hers wall to wall closets, an ensuite restroom, space and privacy. Upstairs could serve as independent unit. Downstairs you'll find another restroom, laundry room and oversized family room complete with separate entrance. Outside you'll find the entertainers covered patio with barbecue, bar area and detached two car garage. Area is concreted for low maintenance, both sides of property are gated for privacy and wide for additional storage. Additional benefit to this are R3 - Multi Unit Zoning, Detached 2 car garage, ample street parking and central 90022 location just minutes from major freeways and the Citadel outlets. This home offers a flowing layout that affords multi generation, multi family or the opportunity to live and create rental income to assist with your mortgage. This Montebello adjacent home is a Must see just walking distance from major attractions and entertainment. All Financing Welcome. This is the opportunity to make a home work for you. Don't miss out.

Price History

Date
Event
Price
02/23/18
Sold
$510,000
Condition Rating
Fair

Built in 1942, the property shows signs of regular maintenance but features significantly outdated interior finishes. The kitchen, despite being described as a 'chef's dream,' has dated light wood cabinets, tile countertops, and fluorescent panel lighting. Bathrooms, including an open shower area with a curtain in one bedroom, also appear dated. Flooring consists of a mix of white tile and old carpets (green shag, dark blue). Popcorn ceilings are prevalent. While functional and clean, the property requires substantial cosmetic updates to meet current quality and style standards, aligning with a renovation period of 15-30 years ago.
Pros & Cons

Pros

R3 Zoning for Multi-Unit Development: The property boasts R3 zoning, offering significant future potential for expansion and the ability to build up to four units, which is a substantial value-add for investors or those seeking rental income.
Spacious & Adaptable Layout: With over 2,070 sq ft, 3 bedrooms, and 3 bathrooms, the home features a flowing layout suitable for multi-generational living, multiple families, or creating rental income, including a potential independent unit upstairs with a separate entrance downstairs.
Modern & Well-Equipped Kitchen: The open-concept kitchen is described as 'every chef's dream,' featuring an oversized island, double oven, and ample cooking prep space and storage, making it ideal for entertaining and daily use.
Central & Convenient Location: Centrally located in the 90022 zip code, the property offers excellent access to major freeways, the Citadel outlets, and is adjacent to Montebello, with attractions and entertainment within walking distance.
Entertainment-Ready Outdoor Space & Detached Garage: The exterior features an entertainers' covered patio with a barbecue and bar area, low-maintenance concreted grounds, gated privacy, and a detached two-car garage, complemented by ample street parking.

Cons

Overpriced Relative to Market Estimation: The current list price of $899,999 is significantly higher than the estimated property value of $725,859.565, suggesting it may be priced above current market expectations.
Age of Property & Potential for Older Systems: Built in 1942, while some updates like windows are mentioned, the property's age suggests potential for original or aging major systems (plumbing, electrical, HVAC) that may require future investment or maintenance.
Limited Lot Size for R3 Potential: Despite the advantageous R3 zoning, the 3,933 sq ft lot size is relatively modest, which could limit the scope or design flexibility for maximizing the potential of building up to four units.

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