2359 Glover Place, Los Angeles, California 90031, Los Angeles, 90031 - 5 bed, 3 bath

2359 Glover Place, Los Angeles, California 90031 home-pic-0
ACTIVE$999,000
2359 Glover Place, Los Angeles, California 90031
5Beds
3Baths
1,940Sqft
4,600Lot
Year Built
1915
Close
-
List price
$999K
Original List price
$1.1M
Price/Sqft
$515
HOA
-
Days on market
-
Sold On
-
MLS number
DW25039260
Home ConditionPoor
Features
Good View: Neighborhood, Creek/Stream
Patio
ViewNeighborhood, Creek/Stream

About this home

Possibly Over-Priced:The estimated price is 33% below the list price. We found 3 Cons,5 Pros. Rank: price - $999.0K(63th), sqft - 1940(82th), beds - 5(92th), baths - 3(66th).

Welcome to Frogtown! This Spanish Style duplex has separate meters and will be delivered VACANT. A compelling investment opportunity for owner-occupants or investors seeking a property in the desirable Frogtown Neighborhood. Built in 1915, this charming property comprises two distinct units, each offering unique features and functionality. The front unit, a two-story, four-bedroom, two-bathroom residence, features an inviting entryway, a sunlit living room, connecting to the dinning & kitchen area and family den. Upstairs, three bedrooms include one with a Spanish-style balcony offering picturesque views of the Los Angeles River. The Electrical box has been updated. The second story addition was added to existing dwelling and approved by Building and Safety 1988. In 1991 the patio was converted & added to existing dwelling into a den/bedroom and also approved by Building and Safety. The rear detached unit, a spacious one-bedroom, one-bathroom residence, is ideal for guest accommodations or rental income. The property includes carport parking and a long driveway providing ample storage. Its prime Frogtown location, near the L.A. River and local amenities such as Wax Paper, Spoke Bicycle Cafe, Loreto, and Salazar, further enhances its appeal. Both units allows for immediate occupancy, rental, or renovation to suit individual needs. This represents a significant investment opportunity in a thriving Neighborhood."

Condition Rating
Poor

Built in 1915, this property features interior aesthetics, particularly in the kitchen and bathrooms, that are significantly outdated, likely reflecting renovations from 30-50 years ago. The kitchen has very dated wood cabinets, laminate countertops, and older appliances. The bathroom features dated tile work and fixtures. While the electrical box has been updated and additions were approved in the late 80s/early 90s, the overall condition requires substantial rehabilitation and modernization to meet current quality standards and buyer expectations. The flooring throughout the visible areas is also dated tile. This property is functional but requires extensive renovation rather than minor updates.
Pros & Cons

Pros

Income-Generating Duplex: Features two distinct units with separate meters, delivered vacant, offering immediate rental income potential or flexible owner-occupancy.
Prime Frogtown Location: Situated in the highly desirable Frogtown neighborhood, with proximity to the L.A. River and popular local amenities, enhancing lifestyle and appeal.
Versatile Living Arrangements: Comprises a 4-bed/2-bath front unit and a detached 1-bed/1-bath rear unit, ideal for multi-generational living, guest accommodations, or maximizing rental yield.
Historic Charm & Scenic Views: Boasts a charming Spanish-style architecture with a balcony offering picturesque views of the Los Angeles River, adding unique character and aesthetic value.
Legally Approved Expansions & Electrical Update: Features a second-story addition and patio conversion approved by Building and Safety, alongside an updated electrical box, ensuring structural integrity and a key system upgrade.

Cons

Significant Price Discrepancy: The listing price is substantially higher than the property's estimated value, potentially indicating overpricing and posing challenges for appraisal or buyer interest.
Age-Related Maintenance & Renovation Potential: Built in 1915, the property likely requires ongoing maintenance and potential renovations to modernize other systems and aesthetics, beyond the mentioned electrical update.
Unspecified System Updates: While the electrical box is updated, there's no mention of recent upgrades to other major systems (e.g., plumbing, HVAC, roof), suggesting potential future capital expenditures for a buyer.

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