221 E 92nd Street, Los Angeles, California 90003, Los Angeles, 90003 - 3 bed, 2 bath
ACTIVE$600,000
221 E 92nd Street, Los Angeles, California 90003
3Beds
2Baths
1,672Sqft
5,148Lot
Year Built
1927
Close
-
List price
$600K
Original List price
$600K
Price/Sqft
$359
HOA
-
Days on market
-
Sold On
-
MLS number
IV25118397
Home ConditionPoor
Features
Patio
View-
About this home
Possibly Over-Priced:The estimated price is 37% below the list price. We found 3 Cons,5 Pros. Rank: price - $600.0K(51th), sqft - 1672(90th), beds - 3(50th), baths - 2(50th).
CHARMIN SINGLE FAMILY HOME HAS A BONUS AREA THAT CAN BE USE AS A THIRD BEDROOM, , GREAT POTENTIAL FOR FIRST TIME BUYERS WITH A PERMITTED ADU. FRONT PROPERTY IS 2 BEDROOMS AND 1 BATH, BACK UNIT IS 1 BEDROOM AND 1 BATH. BACKYARD PROVIDES WITH A PEACEFUL OUTDOOR SPACE FOR FAMILY BARBECUE TIME. PROPERTY SOLD "AS IS" CONDITION. EASY TO SHOW.
Price History
Date
Event
Price
08/27/09
Sold
$154,000
11/14/06
Sold
$425,000
Condition Rating
Poor
Built in 1927 and sold 'as-is,' this property requires substantial rehabilitation. The kitchen features very dated reddish-brown cabinets, worn laminate countertops, an old sink, and basic, old-fashioned light fixtures. The flooring throughout the visible interior is dated ceramic tile. While not a tear-down, the property's age and current condition, particularly the highly outdated kitchen, indicate a need for extensive updates to major components and systems to meet modern standards and comfort.
Pros & Cons
Pros
Income-Generating Potential: Features a permitted Accessory Dwelling Unit (ADU) with 1 bedroom and 1 bath, offering significant rental income potential or multi-generational living options.
Flexible Living Space: Includes a bonus area in the main house that can serve as a third bedroom, providing adaptable space for various needs.
Private Outdoor Retreat: The backyard offers a peaceful outdoor space, ideal for family gatherings and relaxation.
First-Time Buyer Opportunity: Positioned as a property with great potential for first-time buyers, making it an accessible entry point into the Los Angeles market.
Charming Character: Described as a 'charming single-family home,' suggesting inherent character and appeal despite its age.
Cons
As-Is Sale Condition: The property is explicitly sold 'as-is,' indicating that buyers should anticipate potential repair or renovation costs.
Older Construction: Built in 1927, the home may require updates to systems (plumbing, electrical, HVAC) and general modernization to meet contemporary standards and preferences.
Valuation Discrepancy: The list price significantly exceeds the estimated property value, which could pose challenges during appraisal and may deter buyers seeking market-aligned pricing.