2443 Cameron Avenue, Covina, California 91724, Covina, 91724 - 4 bed, 3 bath
ACTIVE$1,075,000
2443 Cameron Avenue, Covina, California 91724
4Beds
3Baths
2,841Sqft
31,781Lot
Price Vs. Estimate
The estimated value ($915,408.365) is $159,591.635 (14%) lower than the list price ($1,075,000). This property may be overpriced.
Key pros and cons
Top Pros:
Large Lot Size: The property boasts a massive 31,781 sq. ft. lot, offering exceptional potential for expansion, additional structures, or extensive landscaping.
Top Cons:
Extensive Repair Requirements: The property is in need of 'extensive repairs,' indicating significant deferred maintenance and requiring a substantial investment of time and capital from the buyer.
Compared to the nearby listings
Price:$1.07M vs avg $902.5K (+$172,500)76%
Size:2,841 sqft vs avg 1,679.5 sqft92%
Price/sqft:$378 vs avg $5273%
More Insights
Built in 1953 (72 years old).
Condition: The property, built in 1953, is explicitly described as needing 'extensive repairs' and 'does not qualify for FHA financing,' indicating significant structural or safety issues. Images confirm this, showing gutted interior spaces with exposed studs, unfinished walls, and raw concrete floors, suggesting major systems (kitchen, bathrooms, electrical, plumbing, HVAC) require complete overhaul or replacement. While some new flooring is visible on a staircase, the overall condition is unlivable and requires substantial rehabilitation, aligning with the 'Poor' category.
Year Built
1953
Close
-
List price
$1.07M
Original List price
$1.15M
Price/Sqft
$378
HOA
-
Days on market
-
Sold On
-
MLS number
DW25054051
Home ConditionPoor
Features
View-
About this home
Attention investors! This 4-bedroom, 3-bath home sits on a massive 31,781 sq. ft. lot with 2,841 sq. ft. of living space in the desirable city of Covina. The property needs extensive repairs and does not qualify for FHA financing, making it ideal for cash buyers looking for their next project. With great potential to renovate, rebuild, or develop, this is a rare opportunity to create significant value in a prime location. Don’t miss out on this investment!
Condition Rating
Poor
The property, built in 1953, is explicitly described as needing 'extensive repairs' and 'does not qualify for FHA financing,' indicating significant structural or safety issues. Images confirm this, showing gutted interior spaces with exposed studs, unfinished walls, and raw concrete floors, suggesting major systems (kitchen, bathrooms, electrical, plumbing, HVAC) require complete overhaul or replacement. While some new flooring is visible on a staircase, the overall condition is unlivable and requires substantial rehabilitation, aligning with the 'Poor' category.
Pros & Cons
Pros
Large Lot Size: The property boasts a massive 31,781 sq. ft. lot, offering exceptional potential for expansion, additional structures, or extensive landscaping.
Significant Value-Add Potential: Explicitly marketed for its 'great potential to renovate, rebuild, or develop,' this property is a prime opportunity for investors to create substantial equity.
Desirable Covina Location: Situated in the 'desirable city of Covina,' the property benefits from a sought-after address, contributing to its long-term appeal and potential appreciation.
Spacious Home Layout: With 2,841 sq. ft. of living space and 4 bedrooms/3 bathrooms, the home offers a generous footprint for a large family or flexible living arrangements post-renovation.
Targeted Investment Opportunity: Positioned as an ideal project for cash buyers, this property offers a clear path for experienced investors to capitalize on a value-add strategy.
Cons
Extensive Repair Requirements: The property is in need of 'extensive repairs,' indicating significant deferred maintenance and requiring a substantial investment of time and capital from the buyer.
Limited Financing Options: The property 'does not qualify for FHA financing,' significantly narrowing the potential buyer pool primarily to cash buyers or those with conventional loan capabilities.
Age of Property: Built in 1953, the home is an older structure, likely requiring comprehensive updates to its systems (electrical, plumbing, HVAC) and finishes to meet modern standards and preferences.