1523 E Vernon, Los Angeles, California 90011, Los Angeles, 90011 - bed, bath
ACTIVE$799,000$2,314/sqft
Est. Value: $769,139
-3%
AboveEstimate
1523 E Vernon, Los Angeles, California 90011
0Bed
0Bath
2,314Sqft
5,204Lot
Price Vs. Estimate
The estimated value ($769,138.94) is $29,861.06 (3%) lower than the list price ($799,000). This property may be overpriced.
Key pros and cons
Top Pros:
High Investment Potential: The property is explicitly marketed as a 'tremendous value opportunity with significant upside for a savvy investor or owner-user,' indicating strong potential for capital appreciation and return on investment.
Top Cons:
Age and Renovation Needs: Built in 1911, the property is likely to require significant capital investment for comprehensive renovations, including potential upgrades to plumbing, electrical, and HVAC systems, to meet modern standards and maximize rental value.
Compared to the nearby listings
Price:$799.0K vs avg $572.5K (+$226,500)94%
Size:2,314 sqft vs avg 1,162.5 sqft97%
Price/sqft:$345 vs avg $5189%
More Insights
Built in 1911 (115 years old).
Condition: Built in 1911, this property is in very poor condition, requiring substantial repairs and rehabilitation. The kitchen features severely outdated tile countertops, old cabinets, and basic appliances, necessitating a full renovation. The bathroom is equally outdated with old fixtures, vanity, and patterned wall tiles. Throughout the property, flooring consists of worn carpet and dated terracotta-style tiles. Visible cracks in walls and the overall neglected appearance, combined with the property's age, indicate that major system replacements (electrical, plumbing, HVAC) and extensive cosmetic upgrades are needed to make it safe and comfortable for modern living.
Year Built
1911
Close
-
List price
$799K
Original List price
$799K
Price/Sqft
$345
HOA
-
Days on market
-
Sold On
-
MLS number
SR26009738
Home ConditionPoor
Features
Patio
View-
About this home
Tremendous value opportunity with significant upside for a savvy investor or owner-user. Originally configured as four separate 2-bedroom units, this property can be easily converted back to its multi-unit layout, creating four strong income-producing rentals or a flexible mixed-use living/investment setup. Centrally located near USC, the LA Memorial Coliseum, the LA Convention Center, and Downtown LA, this is a rare chance to own a versatile property brimming with potential.*Tax records indicate the home as only a 4 bed but it has several more bedrooms currently* Property will be delivered vacant.
L
Lilach Basson
Listing Agent
Nearby schools
4/10
Ascot Avenue Elementary School
Public,•K-5•0.1mi
4/10
Nevin Avenue Elementary School
Public,•K-5•0.6mi
3/10
Sally Ride Elementary: A Smart Academy
Public,•K-5•0.6mi
2/10
Hooper Avenue Elementary School
Public,•1-5•0.7mi
2/10
Holmes Avenue Elementary School
Public,•K-6•0.7mi
3/10
Wadsworth Avenue Elementary School
Public,•K-5•0.7mi
2/10
Harmony Elementary School
Public,•K-5•0.8mi
2/10
Aurora Elementary School
Public,•K-5•0.9mi
2/10
Forty-Ninth Street Elementary School
Public,•K-5•0.9mi
4/10
Quincy Jones Elementary School
Public,•K-5•1.1mi
5/10
Lillian Street Elementary School
Public,•K-6•1.3mi
5/10
Twentieth Street Elementary School
Public,•K-5•1.3mi
3/10
Twenty-Eighth Street Elementary School
Public,•K-5•1.3mi
5/10
Pacific Boulevard School
Public,•K-5•1.6mi
5/10
Estrella Elementary School
Public,•K-5•1.8mi
3/10
George Washington Carver Middle School
Public,•6-8•0.8mi
2/10
Dr. Julian Nava Learning Academies-School Of Business And Technology
Public,•6-8•0.8mi
6/10
Vernon City Elementary School
Public,•K-7•0.9mi
3/10
Los Angeles Academy Middle
Public,•6-8•1.3mi
3/10
Thomas A. Edison Middle School
Public,•6-8•1.6mi
3/10
Henry T. Gage Middle School
Public,•6-8•2.3mi
2/10
Thomas Jefferson Senior High School
Public,•9-12•0.4mi
3/10
Nava College Preparatory Academy
Public,•9-12•0.4mi
5/10
Santee Education Complex
Public,•9-12•1.9mi
4/10
Huntington Park Senior High School
Public,•9-12•2.0mi
3/10
John C. Fremont Senior High School
Public,•9-12•2.7mi
5/10
STEM Academy of Boyle Heights HS
Public,•9-12•3.1mi
5/10
Felicitas And Gonzalo Mendez High
Public,•9-12•3.3mi
Condition Rating
Poor
Built in 1911, this property is in very poor condition, requiring substantial repairs and rehabilitation. The kitchen features severely outdated tile countertops, old cabinets, and basic appliances, necessitating a full renovation. The bathroom is equally outdated with old fixtures, vanity, and patterned wall tiles. Throughout the property, flooring consists of worn carpet and dated terracotta-style tiles. Visible cracks in walls and the overall neglected appearance, combined with the property's age, indicate that major system replacements (electrical, plumbing, HVAC) and extensive cosmetic upgrades are needed to make it safe and comfortable for modern living.
Pros & Cons
Pros
High Investment Potential: The property is explicitly marketed as a 'tremendous value opportunity with significant upside for a savvy investor or owner-user,' indicating strong potential for capital appreciation and return on investment.
Multi-Unit Conversion & Income Potential: Originally configured as four separate 2-bedroom units, the property offers a clear path to conversion back into income-producing rentals, providing substantial cash flow potential.
Prime Central Location: Strategically located near major Los Angeles landmarks such as USC, the LA Memorial Coliseum, the LA Convention Center, and Downtown LA, ensuring high rental demand and accessibility.
Vacant Delivery: The property will be delivered vacant, offering immediate flexibility for an investor to begin renovations, re-tenanting, or for an owner-user to move in without tenant-related delays.
Versatile Use Case: The property's potential for a 'flexible mixed-use living/investment setup' allows for various strategies, catering to both owner-occupants seeking rental income and pure investors.
Cons
Age and Renovation Needs: Built in 1911, the property is likely to require significant capital investment for comprehensive renovations, including potential upgrades to plumbing, electrical, and HVAC systems, to meet modern standards and maximize rental value.
Zoning and Permitting Challenges: While convertible to multi-unit, the property is currently listed as a 'Single Family Residence.' Reverting to a multi-unit configuration will likely involve navigating complex zoning regulations and obtaining necessary permits, which can be time-consuming and costly.
Discrepancy in Public Records: The note that 'Tax records indicate the home as only a 4 bed but it has several more bedrooms currently' suggests a potential mismatch with official records, which could lead to permitting issues, complications during financing, or challenges during resale.