224 W 98th Street, Los Angeles, California 90003, Los Angeles, 90003 - 3 bed, 2 bath
ACTIVE$618,000
224 W 98th Street, Los Angeles, California 90003
3Beds
2Baths
1,047Sqft
3,396Lot
Year Built
1940
Close
-
List price
$618K
Original List price
$619K
Price/Sqft
$590
HOA
-
Days on market
-
Sold On
-
MLS number
DW25074406
Home ConditionFair
Features
Patio
ViewNeighborhood
About this home
Possibly Over-Priced:The estimated price is 36% below the list price. We found 3 Cons,5 Pros. Rank: price - $618.0K(62th), sqft - 1047(50th), beds - 3(50th), baths - 2(50th).
This property features 3 bedrooms 2 bathrooms centrally located close to the freeway and close to downtown area, bring your brush and paint and let your creativity fly, good property for first time buyers
Price History
Date
Event
Price
05/06/15
Sold
$290,000
01/30/15
Sold
$186,500
Condition Rating
Fair
Built in 1940, this property is over 80 years old. The listing explicitly states it needs cosmetic updates ('bring your brush and paint') and the property analysis highlights its 'Older Property Age' suggesting potential for outdated systems. While it appears functional and is marketed as a 'good property for first time buyers' with customization potential, it requires minor updates and likely has outdated components in the kitchen and bathrooms, consistent with a property of its age that hasn't undergone a recent extensive renovation.
Pros & Cons
Pros
Central Location: The property is centrally located with convenient access to freeways and the downtown Los Angeles area, enhancing connectivity and accessibility to amenities.
Functional Layout: Offering 3 bedrooms and 2 bathrooms, the property provides a practical and desirable configuration suitable for various household needs.
First-Time Buyer Opportunity: Explicitly marketed as a 'good property for first time buyers,' suggesting an accessible entry point into the Los Angeles real estate market.
Customization Potential: The description encourages buyers to 'bring your brush and paint and let your creativity fly,' highlighting the opportunity for personalization and value addition through renovation.
Neighborhood View: The property offers a pleasant 'Neighborhood' view, contributing to the living environment.
Cons
Significant Price Discrepancy: The listing price of $618,000 is 36% higher than the estimated property value of $393,971.11, indicating potential overpricing or a need for strong market justification.
Requires Renovation and Updates: The property's description implies a need for cosmetic and potentially more extensive updates ('bring your brush and paint'), which will require additional investment from the buyer.
Older Property Age: Built in 1940, the home is over 80 years old, suggesting potential for outdated systems (plumbing, electrical, HVAC) and higher maintenance costs compared to newer constructions.