2366 Lyric Avenue, Los Angeles, California 90027, Los Angeles, 90027 - 4 bed, 4 bath
ACTIVE$2,250,000
2366 Lyric Avenue, Los Angeles, California 90027
4Beds
4Baths
2,363Sqft
3,101Lot
Year Built
1931
Close
-
List price
$2.25M
Original List price
$2.25M
Price/Sqft
$952
HOA
-
Days on market
-
Sold On
-
MLS number
AR25055936
Home ConditionGood
Features
Good View: Hills
ViewHills
About this home
Possibly Over-Priced:The estimated price is 24% below the list price. We found 4 Cons,6 Pros. Rank: price - $2.25M(47th), sqft - 2363(46th), beds - 4(52th), baths - 4(55th).
This beautiful Tri Level home sits in the desirable Franklin Hills where its shows a spectacular view. This home also features all the upgrades installed in 2016-2017 granite counter tops, double pane windows, central A/C, and many more. New Roof, new sewer liner, and partial plumbing were installed 2019-2020. It also has a guest room on the bottom floor with its own permitted full bathroom and its own entry which also can be used as a rental for additional income. The attached pictures of the home were taken in 2016-2017 when the renovations were competed.
Nearby schools
9/10
Ivanhoe Elementary School
Public,•K-5•0.6mi
8/10
Franklin Avenue Elementary School
Public,•K-6•0.6mi
5/10
Micheltorena Street Elementary School
Public,•K-5•1.1mi
7/10
Los Feliz STEMM Magnet
Public,•K-6•1.1mi
/10
Lexington Avenue Primary Center
Public,•K-2•1.1mi
4/10
Lockwood Avenue Elementary School
Public,•K-6•1.3mi
4/10
Grant Elementary School
Public,•K-6•2.2mi
6/10
Cheremoya Avenue Elementary School
Public,•K-6•2.6mi
6/10
Thomas Starr King Middle School
Public,•6-8•0.7mi
3/10
Joseph Le Conte Middle School
Public,•6-8•2.5mi
8/10
John Marshall Senior High School
Public,•9-12•0.3mi
6/10
Hollywood Senior High School
Public,•9-12•3.7mi
Price History
Date
Event
Price
07/21/15
Sold
$1,050,000
Condition Rating
Good
Despite being built in 1931, this property underwent extensive renovations in 2016-2017, including a modern kitchen with granite countertops and updated bathrooms with contemporary fixtures and tiling. Major systems like central A/C, double-pane windows, roof, sewer liner, and partial plumbing were updated between 2016-2020. While the photos are from 2016-2017, the renovation timeline places the property firmly in a 'move-in ready' condition with well-maintained and functional systems, aligning with the 'Good' criteria.
Pros & Cons
Pros
Great Schools: Elementary School: Ivanhoe Elementary School (9/10).
Prime Location: Situated in the desirable Franklin Hills neighborhood of Los Angeles, offering a sought-after address and community.
Spectacular Views: The property boasts spectacular hill views, enhancing its aesthetic appeal and potential value.
Extensive Recent Upgrades: Significant renovations completed in 2016-2017 (granite countertops, double-pane windows, central A/C) and 2019-2020 (new roof, sewer liner, partial plumbing) indicate a well-maintained and modernized home.
Income Potential/Flexible Living: A permitted guest room on the bottom floor with its own full bathroom and entry provides excellent potential for rental income or multi-generational living.
Modern Comforts: The installation of central A/C and double-pane windows ensures enhanced comfort and energy efficiency, a key selling point in Los Angeles.
Cons
Low Available Lot Utilization: The property has a small lot size, more than 70 percent of which is taken by its living area. lot size in square feet = 3101, living area = 2363.
Outdated Marketing Photos: The listing explicitly states that the attached pictures were taken in 2016-2017, which may not accurately reflect the current condition or staging of the property, potentially misleading prospective buyers.
Potential Overpricing: The list price of $2,250,000 is significantly higher than the estimated property value of $1,707,996, suggesting a potential overvaluation that could impact market interest and negotiation.
Compact Lot Size: With a lot size of 3101 sqft, the property offers limited outdoor space, which might be a drawback for buyers seeking larger yards or extensive landscaping, especially for a home of this square footage and price point.