154 W 93rd Street, Los Angeles, California 90003, Los Angeles, 90003 - 2 bed, 1 bath

154 W 93rd Street, Los Angeles, California 90003 home-pic-0
ACTIVE$580,000
154 W 93rd Street, Los Angeles, California 90003
2Beds
1Bath
996Sqft
6,016Lot
Year Built
1924
Close
-
List price
$580K
Original List price
$580K
Price/Sqft
$582
HOA
-
Days on market
-
Sold On
-
MLS number
25508155
Home ConditionPoor
Features
View-

About this home

Possibly Over-Priced:The estimated price is 28% below the list price. We found 3 Cons,5 Pros. Rank: price - $580.0K(47th), sqft - 996(43th), beds - 2(41th), baths - 1(47th).

Single Family Residence. Over 6,000 square foot lot. Great for Developer or investor with potential for ADU. -Property is vacant. Property Sold AS-IS condition. Property needs repair. 203 K possible financing.

Price History

Date
Event
Price
09/23/24
Sold
$480,000
Condition Rating
Poor

Built in 1924, this property is explicitly listed as needing repair and being sold 'AS-IS,' indicating substantial rehabilitation is required. The property analysis confirms 'extensive repairs' and 'potential for outdated systems and higher renovation costs.' The exterior image shows signs of neglect, including an unkempt yard, a covered window, and 'junk removal' signs. Without interior photos, it's presumed the kitchen and bathroom are severely outdated and in very poor condition, requiring full renovation. The mention of '203 K possible financing' further supports the need for significant rehabilitation rather than minor updates.
Pros & Cons

Pros

Large Lot Size & Development Potential: The property boasts an over 6,000 square foot lot (6016 sqft), offering significant space for expansion, redevelopment, and is explicitly marketed as 'Great for Developer or investor'.
ADU Potential: The explicit mention of 'potential for ADU' is a strong selling point, allowing for increased property value and potential rental income in a high-demand market.
Investor/Developer Appeal: Clearly positioned for 'Developer or investor,' this property presents a strategic opportunity for value-add projects and capital appreciation.
203K Financing Option: The availability of '203 K possible financing' broadens the buyer pool, enabling purchasers to finance both the acquisition and necessary renovation costs into one loan.
Vacant Status: Being 'vacant' simplifies the transaction and renovation process, allowing for immediate access for inspections, repairs, and occupancy without tenant-related complications.

Cons

Extensive Repairs & As-Is Sale: The property 'needs repair' and is 'Sold AS-IS condition,' indicating substantial renovation costs and no seller contribution to repairs, requiring significant buyer investment.
Significant Overpricing: The current list price of $580,000 is approximately 28% higher than the estimated value of $412,250, suggesting a potential overvaluation relative to its current condition and market data.
Small Existing Structure & Age: The existing 996 sqft, 2-bed/1-bath home is small relative to the generous lot size, and its 1924 build year suggests potential for outdated systems and higher renovation costs.

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