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242 E 92nd Street, Los Angeles, California 90003, Los Angeles, 90003 - 3 bed, 2 bath

242 E 92nd Street, Los Angeles, California 90003 home-pic-0
ACTIVE$650,000
242 E 92nd Street, Los Angeles, California 90003
3Beds
2Baths
1,252Sqft
5,124Lot

Price Vs. Estimate

The estimated value ($650,000) is $0 (0%) lower than the list price ($650,000). This property may be overpriced.

Key pros and cons

Top Pros:
ADU Potential & Ample Parking: The property features a 2-car detached garage with exciting ADU potential, offering significant value-add and income generation opportunities, complemented by an extra-long driveway fitting up to 4 cars.
Top Cons:
Requires Personal Touch/Updates: The description states the home is 'ready for its new owner to add your own personal touch,' implying it may require cosmetic updates or renovations to meet modern aesthetic preferences.

Compared to the nearby listings

Price:$650.0K vs avg $595.0K (+$55,000)71%
Size:1,252 sqft vs avg 1,100 sqft65%
Price/sqft:$519 vs avg $51651%

More Insights

Built in 1999 (26 years old).
Condition: Built in 1999, this property is 25 years old and shows signs of its age with largely original or very dated finishes. The kitchen features older wood cabinets and tile flooring, and no appliances are visible, suggesting a need for a full update. Bathrooms also appear dated with older tile. The living areas and bedrooms have worn brown carpeting and basic, outdated light fixtures. While the property appears functional and maintained, it requires significant cosmetic updates and potentially system upgrades (like central HVAC, as only a wall heater is visible) to meet modern standards and be considered truly 'move-in ready' without immediate renovation.
Year Built
1999
Close
-
List price
$650K
Original List price
$650K
Price/Sqft
$519
HOA
-
Days on market
-
Sold On
-
MLS number
SB25190456
Home ConditionFair
Features
Patio
ViewNeighborhood

About this home

Welcome to this charming Single family home offering 3 bedrooms and 2 bathrooms, this property features a functional and well-designed layout, making it ideal for both comfort and convenience. The primary bedroom includes its own ensuite bathroom for added privacy. The extra-long driveway easily fits up to 4 cars, leading to a 2-car detached garage with exciting ADU potential (buyer to verify with city) a great opportunity to add value or generate rental income. Enjoy the abundance of fruit trees in the yard, including bananas, lime and mango, creating a peaceful outdoor retreat. Whether you’re a first-time buyer, looking for a starter home, or seeking an investment property, this home checks all the boxes, ready for its new owner to add your own personal touch. Eligible for $15,000 forgivable loan (no payments, no interest) to cover closing costs, rate buy-down and/or down payment. 100% financing available. Don’t miss this opportunity to own a well-priced gem in the heart of Los Angeles! Also available for rent for $3,400 a month

Price History

Date
Event
Price
12/06/99
Sold
$155,000
08/10/04
Sold
$239,000
03/26/04
Sold
$175,000
09/02/03
Sold
$168,059
Condition Rating
Fair
Built in 1999, this property is 25 years old and shows signs of its age with largely original or very dated finishes. The kitchen features older wood cabinets and tile flooring, and no appliances are visible, suggesting a need for a full update. Bathrooms also appear dated with older tile. The living areas and bedrooms have worn brown carpeting and basic, outdated light fixtures. While the property appears functional and maintained, it requires significant cosmetic updates and potentially system upgrades (like central HVAC, as only a wall heater is visible) to meet modern standards and be considered truly 'move-in ready' without immediate renovation.
Pros & Cons

Pros

ADU Potential & Ample Parking: The property features a 2-car detached garage with exciting ADU potential, offering significant value-add and income generation opportunities, complemented by an extra-long driveway fitting up to 4 cars.
Exceptional Financial Incentives: Eligible for a $15,000 forgivable loan (no payments, no interest) for closing costs, rate buy-down, or down payment, along with 100% financing options, making it highly accessible for various buyers.
Outdoor Retreat with Fruit Trees: The yard boasts an abundance of fruit trees, including bananas, lime, and mango, creating a unique and peaceful outdoor living space.
Functional Layout with Primary Ensuite: Offers a functional and well-designed 3-bedroom, 2-bathroom layout, including a primary bedroom with its own ensuite bathroom for enhanced privacy and comfort.
Investment & Rental Income Opportunity: Explicitly marketed as an ideal investment property with clear potential to generate rental income, currently available for rent at $3,400 a month.

Cons

Requires Personal Touch/Updates: The description states the home is 'ready for its new owner to add your own personal touch,' implying it may require cosmetic updates or renovations to meet modern aesthetic preferences.
ADU Potential Verification Required: While ADU potential is a strength, the buyer is required to 'verify with city,' indicating that the process is not pre-approved or turnkey and will involve additional effort and due diligence.
Lack of Specific Interior Upgrades: The property description highlights functionality but does not mention recent major interior renovations or high-end finishes, which might be a drawback for buyers seeking a fully updated home.

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