2524 Alsace Ave, Los Angeles, California 90016, Los Angeles, 90016 - 3 bed, 2 bath
ACTIVE$999,000
2524 Alsace Ave, Los Angeles, California 90016
3Beds
2Baths
1,071Sqft
4,527Lot
Price Vs. Estimate
The estimated value ($832,084.585) is $166,915.415 (16%) lower than the list price ($999,000). This property may be overpriced.
Key pros and cons
Top Pros:
Prime Location & Growth Potential: Situated in the vibrant and rapidly developing West Adams neighborhood, with close proximity to major employers like Apple Campus, Nike, Amazon Studios, and Sony, indicating strong appreciation and rental demand.
Top Cons:
Age and Condition: Built in 1927, the single-story residence is likely to require substantial renovation and modernization to meet contemporary standards, which could incur significant additional costs for a buyer.
Compared to the nearby listings
Price:$999.0K vs avg $1.05M ($-51,000)36%
Size:1,071 sqft vs avg 1,393.5 sqft19%
Price/sqft:$933 vs avg $79281%
More Insights
Built in 1927 (98 years old).
Condition: The property was built in 1927, making it 97 years old. The MLS description provides no details about recent renovations, and the exterior images show significant signs of age and deferred maintenance, including cracked concrete, dated tiled steps, and an overall unkempt appearance. The presence of security bars on windows and a makeshift awning further suggest a property that has not been recently updated or well-maintained. Without interior images, especially of the kitchen and bathrooms, a definitive assessment is challenging, but given the property's age and the visible exterior condition, it is highly probable that major systems and interior finishes are outdated and require substantial repairs and rehabilitation to meet modern standards. The listing's emphasis on zoning and development potential also implies that the structure itself is not a primary selling point and likely requires significant investment.
Year Built
1927
Close
-
List price
$999K
Original List price
$999K
Price/Sqft
$933
HOA
-
Days on market
-
Sold On
-
MLS number
DW25228755
Home ConditionPoor
Features
Patio
View-
About this home
We are pleased to present an opportunity to acquire this 3-bedroom + 2-bathroom single-family residence. Currently tenant-occupied on a month-to-month lease, they’re open for cash for keys. The site is zoned LAR3 and commercial This single-story building, constructed in 1927,features a wood frame and stucco design on a raised foundation, with 1,071 square feet of living space on a 4,443 square-foot lot. The property is situated in the vibrant West Adams neighborhood, which is seeing significant development and leasing activity. Notable nearby developments include the Apple Campus, Nike, Amazon Studios, Sony. This up-and-coming area continues to attract investment, making it a prime location with easy access to tra
Nearby schools
5/10
Cienega Elementary School
Public,•K-5•0.1mi
6/10
Marvin Elementary School
Public,•K-5•0.6mi
5/10
Virginia Road Elementary School
Public,•K-5•0.9mi
6/10
Baldwin Hills Elementary School
Public,•K-5•1.0mi
4/10
Alta Loma Elementary School
Public,•K-5•1.1mi
3/10
Arlington Heights Elementary School
Public,•K-5•1.8mi
3/10
Sixth Avenue Elementary School
Public,•K-5•1.8mi
3/10
Johnnie Cochran, Jr., Middle School
Public,•6-8•1.7mi
2/10
Audubon Middle School
Public,•6-8•2.2mi
3/10
Daniel Webster Middle School
Public,•6-8•4.6mi
2/10
Susan Miller Dorsey Senior High School
Public,•9-12•0.9mi
6/10
Alexander Hamilton Senior High School
Public,•9-12•2.0mi
Condition Rating
Poor
The property was built in 1927, making it 97 years old. The MLS description provides no details about recent renovations, and the exterior images show significant signs of age and deferred maintenance, including cracked concrete, dated tiled steps, and an overall unkempt appearance. The presence of security bars on windows and a makeshift awning further suggest a property that has not been recently updated or well-maintained. Without interior images, especially of the kitchen and bathrooms, a definitive assessment is challenging, but given the property's age and the visible exterior condition, it is highly probable that major systems and interior finishes are outdated and require substantial repairs and rehabilitation to meet modern standards. The listing's emphasis on zoning and development potential also implies that the structure itself is not a primary selling point and likely requires significant investment.
Pros & Cons
Pros
Prime Location & Growth Potential: Situated in the vibrant and rapidly developing West Adams neighborhood, with close proximity to major employers like Apple Campus, Nike, Amazon Studios, and Sony, indicating strong appreciation and rental demand.
High-Value Zoning (LAR3 & Commercial): The LAR3 and commercial zoning offers significant development potential, allowing for multi-unit construction or mixed-use development, greatly enhancing its investment appeal and future value.
Flexible Occupancy for Investors: Currently tenant-occupied on a month-to-month lease with an option for 'cash for keys,' providing flexibility for a new owner to either re-tenant, renovate, or redevelop without long-term lease obligations.
Generous Lot Size: A 4,443 square-foot lot provides ample space for potential expansion, the addition of accessory dwelling units (ADUs), or comprehensive redevelopment under the favorable zoning.
Strong Investment Area: The area is explicitly described as 'up-and-coming' and continues to attract investment, reinforcing its potential for capital growth and long-term value.
Cons
Age and Condition: Built in 1927, the single-story residence is likely to require substantial renovation and modernization to meet contemporary standards, which could incur significant additional costs for a buyer.
Potential Overpricing: The listing price of $999,000 is approximately 13% higher than the estimated property value of $865,943.50, suggesting it may be overpriced relative to its current condition and size.
Tenant Occupancy for Owner-Occupants: While flexible for investors, the current tenant occupancy could be an inconvenience for owner-occupant buyers seeking immediate possession, even with the 'cash for keys' option.