2536 Micheltorena Street, Los Angeles, California 90039, Los Angeles, 90039 - 4 bed, 3 bath

2536 Micheltorena Street, Los Angeles, California 90039 home-pic-0
ACTIVE$2,390,000
2536 Micheltorena Street, Los Angeles, California 90039
4Beds
3Baths
3,045Sqft
6,753Lot
Year Built
1950
Close
-
List price
$2.39M
Original List price
$2.75M
Price/Sqft
$785
HOA
-
Days on market
-
Sold On
-
MLS number
TR24162936
Home ConditionPoor
Features
Excellent View: City Lights, Neighborhood
ViewCity Lights,Neighborhood

About this home

Possibly Over-Priced:The estimated price is 25% below the list price. We found 3 Cons,5 Pros. Rank: price - $2.39M(82th), sqft - 3045(92th), beds - 4(73th), baths - 3(51th).

Charming 1950 Traditional Home in Moreno Highlands, Silver Lake. Nestled in the desirable Moreno Highlands of Silver Lake, this classic 1950s traditional home presents a rare opportunity for homeowners looking to remodel their dream home, as well as investors and renovators. Located near the picturesque Silver Lake Reservoir, the residence boasts breathtaking views from the front entry and second-level bedrooms and hallway, showcasing the architectural charm of one of the area’s most desirable neighborhoods. This spacious home features 3,045 square feet of living space, including a welcoming living room and family room, each with a cozy fireplace, complemented by a separate formal dining area perfect for hosting gatherings. The kitchen’s breakfast nook is an ideal spot for enjoying morning coffee. The layout includes three bedrooms, an office/den that can serve as a fourth bedroom, and three and a half bathrooms, along with a laundry room and storage room. The lower-level office/den, complete with a half bath, offers flexibility as a guest suite or home office. The second level features the primary bedroom with a private en-suite, its own fireplace and gorgeous views. There is also a second bedroom with a conveniently located bathroom in the hallway and a third bedroom with its own en-suite and views. The property also includes a detached two-car garage, providing ample storage and parking space. The spacious backyard offers endless possibilities, including the potential addition of a pool, creating an ideal outdoor retreat. Families will appreciate being within the highly sought-after Ivanhoe School District. Brimming with original charm, this home awaits your creative vision. Don’t miss the chance to own a piece of architectural history in one of Silver Lake’s finest neighborhoods. Embrace the potential and make this classic home your own. Seller will carry the 1st trust deed for up to $1.3 million at 5% interest for 5 years.

Condition Rating
Poor

Built in 1950, this property is explicitly marketed as a renovation opportunity, requiring a 'creative vision' and a full 'remodel.' The kitchen, with its dated yellow cabinets, blue tile countertops, and very old appliances, is a prime example of an area needing substantial rehabilitation. While the structure appears sound, the age of the home suggests that major systems (electrical, plumbing, HVAC) are likely outdated and will require extensive replacement to meet modern standards, aligning with the 'poor' condition criteria for substantial repairs and rehabilitation.
Pros & Cons

Pros

Prime Location & Neighborhood: Nestled in the desirable Moreno Highlands of Silver Lake, near the picturesque Silver Lake Reservoir, this property is in one of the area’s most sought-after neighborhoods.
Renovation & Value-Add Potential: The home presents a rare opportunity for homeowners, investors, and renovators to remodel and customize their dream home, with a spacious backyard offering possibilities like a pool addition.
Desirable School District: Located within the highly sought-after Ivanhoe School District, a significant draw for families.
Seller Financing Option: The seller offers to carry the 1st trust deed for up to $1.3 million at 5% interest for 5 years, providing a unique and attractive financing incentive for buyers.
Spacious Layout & Views: With 3,045 square feet of living space, including flexible rooms and multiple en-suite bathrooms, the property also boasts breathtaking views from the front entry and second-level bedrooms.

Cons

Dated Condition & Renovation Required: Described as a 'classic 1950s traditional home' that 'awaits your creative vision' and 'brimming with original charm,' indicating significant renovation and modernization will be necessary.
Overpriced Relative to Condition: The current list price of $2.39M is significantly higher than the property's estimated value of $1.78M, suggesting it may be overpriced given its current dated condition and the need for substantial investment.
Age of Property & Potential System Updates: Built in 1950, the home's age implies potential for outdated systems (e.g., plumbing, electrical, HVAC) and less energy efficiency, which could lead to unforeseen costs during renovation.

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