1523 E Vernon, Los Angeles, California 90011, Los Angeles, 90011 - 4 bed, 4 bath
ACTIVE$799,000$2,314/sqft
Est. Value: $810,516
1%
FairlyEstimate
1523 E Vernon, Los Angeles, California 90011
4Beds
4Baths
2,314Sqft
5,204Lot
Price Vs. Estimate
The estimated value ($810,515.88) is $11,515.88 (1%) lower than the list price ($799,000). This property may be overpriced.
Key pros and cons
Top Pros:
High Investment Potential: Offers tremendous value opportunity and significant upside for savvy investors or owner-users, with potential for substantial returns.
Top Cons:
Historic Property Age: Built in 1911, the property is over a century old, suggesting potential for outdated systems, infrastructure, and higher maintenance costs.
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 over a century old and shows significant signs of age and deferred maintenance. The kitchen features outdated tile countertops, a mix of old cabinets, and dated flooring. The bathroom is extremely dated with old fixtures, patterned wall tiles, and an overall worn appearance. Flooring throughout includes worn, dated tiles and old carpets. Visible cracks in walls and the general condition indicate a need for substantial repairs and rehabilitation, aligning with the 'poor' classification.
Year Built
1911
Close
-
List price
$799K
Original List price
$799K
Price/Sqft
$345
HOA
-
Days on market
-
Sold On
-
MLS number
SR26011150
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 over a century old and shows significant signs of age and deferred maintenance. The kitchen features outdated tile countertops, a mix of old cabinets, and dated flooring. The bathroom is extremely dated with old fixtures, patterned wall tiles, and an overall worn appearance. Flooring throughout includes worn, dated tiles and old carpets. Visible cracks in walls and the general condition indicate a need for substantial repairs and rehabilitation, aligning with the 'poor' classification.
Pros & Cons
Pros
High Investment Potential: Offers tremendous value opportunity and significant upside for savvy investors or owner-users, with potential for substantial returns.
Multi-Unit Conversion Capability: Easily convertible back to its original four separate 2-bedroom units, providing strong income-producing rental opportunities.
Strategic Central Location: Prime location near USC, LA Memorial Coliseum, LA Convention Center, and Downtown LA, enhancing rental demand and property value.
Flexible Usage Options: Versatile property suitable for a flexible mixed-use living/investment setup, catering to various buyer needs.
Vacant Delivery: Property will be delivered vacant, allowing for immediate occupancy, renovation, or tenant placement without eviction hassles.
Cons
Historic Property Age: Built in 1911, the property is over a century old, suggesting potential for outdated systems, infrastructure, and higher maintenance costs.
Tax Record Discrepancy: Discrepancy between tax records (4 beds) and current configuration (several more bedrooms) may indicate unpermitted work or require clarification for legal compliance.
Renovation/Conversion Investment Required: Realizing the multi-unit income potential or modernizing the property will require a significant investment in renovation and conversion costs.