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157 S Virgil Avenue, Los Angeles, California 90004, Los Angeles, 90004 - 3 bed, 1 bath

157 S Virgil Avenue, Los Angeles, California 90004 home-pic-0
ACTIVE$899,900
157 S Virgil Avenue, Los Angeles, California 90004
3Beds
1Bath
1,335Sqft
5,798Lot

Price Vs. Estimate

The estimated value ($898,830.83) is $1,069.17 (0%) lower than the list price ($899,900). This property may be overpriced.

Key pros and cons

Top Pros:
Development Potential: The property is situated on a generous 5,798 sqft R3 zoned lot, offering significant opportunities for multi-family development, conversion of the detached garage into an ADU, or expanding the existing home.
Top Cons:
Limited Bathroom Count: The property features only one bathroom for three bedrooms, which may be a functional limitation for families or multiple occupants.

Compared to the nearby listings

Price:$899.9K vs avg $2.26M ($-1,363,125)18%
Size:1,335 sqft vs avg 2,367 sqft16%
Price/sqft:$674 vs avg $1.0K21%

More Insights

Built in 1909 (116 years old).
Condition: The property, built in 1909, shows its age significantly in key areas. While the description notes 'real hardwood floors' and 'mini split AC,' and the house appears clean with fresh paint in some areas, the kitchen and bathroom are severely outdated in terms of style and features. The kitchen features very old tiled countertops and backsplash, fluorescent lighting, and notably, no visible appliances, indicating a substantial investment is needed. The bathroom has dated pink/peach tiling and a basic vanity. These areas require substantial rehabilitation to meet modern living standards, pushing the property into the 'poor' category despite the functional state of other components.
Year Built
1909
Close
-
List price
$900K
Original List price
$1,000K
Price/Sqft
$674
HOA
-
Days on market
-
Sold On
-
MLS number
OC25089004
Home ConditionPoor
Features
Patio
View-

About this home

Located on Virgil Ave on a R3 zoned lot, this 1905 built home is 1,335 sf in total size and has all the features to turn it into a new creation. As you step inside, you’ll immediately notice a spacious layout with real hardwood floors, large living room, a separate dining room, a central kitchen with large pantry cabinets, 3 full bedrooms, and a large bathroom in good condition. Other notable features include beautiful built ins, mini split AC, & washer dryer hookups inside. There's tons of room to build out a primary suite or a second bath. Situated on a R3 Zoned lot that has 5,798 sf of land, this attractive zoning allows for multiple opportunities to convert the rear detached garage structure into an ADU, as well as build out the home of your dreams, or multifamily development. Prime location in Los Angeles off 101 freeway near Koreatown, Hollywood, Downtown, and near tons of local restaurants & shops. The property is vacant and ready to move in. This one will go!

Price History

Date
Event
Price
08/17/18
Sold
$700,000
Condition Rating
Poor
The property, built in 1909, shows its age significantly in key areas. While the description notes 'real hardwood floors' and 'mini split AC,' and the house appears clean with fresh paint in some areas, the kitchen and bathroom are severely outdated in terms of style and features. The kitchen features very old tiled countertops and backsplash, fluorescent lighting, and notably, no visible appliances, indicating a substantial investment is needed. The bathroom has dated pink/peach tiling and a basic vanity. These areas require substantial rehabilitation to meet modern living standards, pushing the property into the 'poor' category despite the functional state of other components.
Pros & Cons

Pros

Development Potential: The property is situated on a generous 5,798 sqft R3 zoned lot, offering significant opportunities for multi-family development, conversion of the detached garage into an ADU, or expanding the existing home.
Prime Central Location: Located in a highly desirable area of Los Angeles, off the 101 freeway, with excellent proximity to Koreatown, Hollywood, Downtown, and a wealth of local restaurants and shops.
Charming Interior Features: The home boasts a spacious layout with real hardwood floors, a separate dining room, a central kitchen with large pantry cabinets, and beautiful built-ins, retaining classic character.
Modern Comforts: Equipped with mini-split AC units for efficient cooling and heating, and convenient in-house washer/dryer hookups, enhancing daily living comfort.
Value-Add Opportunities: There is ample room to build out a primary suite or add a second bathroom, allowing for significant customization and potential value appreciation.

Cons

Limited Bathroom Count: The property features only one bathroom for three bedrooms, which may be a functional limitation for families or multiple occupants.
Historic Property Age: Built in 1909, the home's age suggests potential for older systems, infrastructure, and deferred maintenance, which could require future investment beyond cosmetic updates.
Recent Price Reduction: A significant price drop from the original list price indicates the property may have been initially overpriced or faced challenges in attracting buyers at its previous valuation.

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