2430 S Cochran Avenue, Los Angeles, California 90016, Los Angeles, 90016 - 2 bed, 1 bath
ACTIVE UNDER CONTRACT$839,000
2430 S Cochran Avenue, Los Angeles, California 90016
2Beds
1Bath
1,340Sqft
5,040Lot
Price Vs. Estimate
The estimated value ($816,290.33) is $22,709.67 (2%) lower than the list price ($839,000). This property may be overpriced.
Key pros and cons
Top Pros:
Desirable Mid-City Location: Situated in a highly sought-after Mid-City Los Angeles area, offering excellent connectivity to freeways, transportation, and local amenities.
Top Cons:
Extensive Renovation Needs: The property is explicitly stated to 'need work' and is sold 'As-Is,' necessitating considerable capital investment for necessary repairs and modernization.
Compared to the nearby listings
Price:$839.0K vs avg $1.05M ($-211,000)21%
Size:1,340 sqft vs avg 1,393.5 sqft43%
Price/sqft:$626 vs avg $78223%
More Insights
Built in 1923 (102 years old).
Condition: Built in 1923, the property is explicitly stated to 'need work' and is being sold 'As-Is,' indicating extensive renovation needs. The images confirm this, showing a very dated kitchen with old cabinets, countertops, and fixtures, despite a newer range. The bathroom also appears significantly outdated. The overall condition suggests substantial repairs and rehabilitation are required to meet modern living standards, aligning with the 'poor' classification.
Year Built
1923
Close
-
List price
$839K
Original List price
$1.05M
Price/Sqft
$626
HOA
-
Days on market
-
Sold On
-
MLS number
25501265
Home ConditionPoor
Features
View-
About this home
***Probate Opportunity***Probate property located in the highly sought after Mid-City area of Los Angeles. Property needs work but has good upside potential, including Development potential with LARD1.5 zoning. Title shows 2 bedrooms, 1 bath, but property is physically 3 bedrooms, 2 baths. Conveniently located close to freeways, transportation, shopping, and more. Property is being sold in it's current "As-Is" condition. Court Confirmation Required. Please do not walk on property or disturb occupants. Shown by appointment. Contact Listing Agent for more information.
Price History
Date
Event
Price
06/21/89
Sold
$130,000
Condition Rating
Poor
Built in 1923, the property is explicitly stated to 'need work' and is being sold 'As-Is,' indicating extensive renovation needs. The images confirm this, showing a very dated kitchen with old cabinets, countertops, and fixtures, despite a newer range. The bathroom also appears significantly outdated. The overall condition suggests substantial repairs and rehabilitation are required to meet modern living standards, aligning with the 'poor' classification.
Pros & Cons
Pros
Desirable Mid-City Location: Situated in a highly sought-after Mid-City Los Angeles area, offering excellent connectivity to freeways, transportation, and local amenities.
Significant Development Potential: Benefits from LARD1.5 zoning, providing substantial upside for potential expansion or redevelopment.
Undisclosed Physical Space: The property physically offers 3 bedrooms and 2 baths, exceeding the 2 bedrooms and 1 bath recorded on title, presenting more usable space.
Attractive Price Adjustment: A notable price reduction from the original $1.05M to $839K makes it a more competitive and potentially undervalued investment.
Probate Investment Opportunity: As a probate sale, it can offer a unique chance for investors to acquire a property with significant value-add potential.
Cons
Extensive Renovation Needs: The property is explicitly stated to 'need work' and is sold 'As-Is,' necessitating considerable capital investment for necessary repairs and modernization.
Complex Probate Process: Requires court confirmation, which can prolong the transaction timeline, add legal complexities, and introduce uncertainty for buyers.
Restricted Access & Occupancy: Current occupancy and strict 'do not disturb' directives limit buyer access for thorough inspections and due diligence.