2647 Raymond Avenue, Los Angeles, California 90007, Los Angeles, 90007 - 4 bed, 2 bath

2647 Raymond Avenue, Los Angeles, California 90007 home-pic-0
ACTIVE$1,175,000
2647 Raymond Avenue, Los Angeles, California 90007
4Beds
2Baths
2,639Sqft
6,618Lot

Price Vs. Estimate

The estimated value ($1,174,126.75) is $873.25 (0%) lower than the list price ($1,175,000). This property may be overpriced.

Key pros and cons

Top Pros:
Prime University Location: Situated within the USC Patrol Zone and minutes from campus, offering unparalleled convenience for students, faculty, and staff, and excellent walkability to amenities.
Top Cons:
Historic Property Maintenance: Built in 1908, the property, despite updates, may incur higher long-term maintenance costs associated with older infrastructure (e.g., plumbing, electrical, foundation) not explicitly addressed in cosmetic renovations.

Compared to the nearby listings

Price:$1.18M vs avg $860.0K (+$315,000)73%
Size:2,639 sqft vs avg 2,204 sqft82%
Price/sqft:$445 vs avg $46345%

More Insights

Built in 1908 (117 years old).
Condition: The property, built in 1908, has undergone extensive modern renovations, including a stylish kitchen with stainless steel appliances and newer cabinetry, remodeled bathrooms with modern finishes, and hardwood flooring throughout. While the original infrastructure may be older, the significant updates make it move-in ready and well-maintained, aligning with the 'Good' condition criteria. The visible living areas also appear clean and well-kept.
Year Built
1908
Close
-
List price
$1.18M
Original List price
$1.18M
Price/Sqft
$445
HOA
-
Days on market
-
Sold On
-
MLS number
25611491
Home ConditionGood
Features
View

About this home

Welcome to 2647 Raymond Ave, a beautifully updated 4-bedroom, 2-bathroom home offering an impressive 2,639 sq. ft. of living space in the heart of the USC Patrol Zone! Perfectly located just minutes from campus, this property delivers incredible versatility; ideal for student housing, USC faculty or staff, or program-based housing such as affordable or transitional use. The home has been thoughtfully updated over the years, featuring a stylish kitchen with stainless steel appliances, newer cabinetry, hardwood flooring throughout, and remodeled bathrooms with modern finishes. The spacious layout provides excellent functionality for shared living or comfortable owner occupancy. Located within an HPOZ and enrolled in the Mills Act, the property also benefits from significant property tax savings while preserving its historic charm. Sitting on a large lot with outstanding ADU potential, the property offers the flexibility to expand, add additional units, or create a separate income-producing space (buyer to verify). The home will be delivered vacant, giving any buyer the opportunity to immediately occupy or maximize rental income by tailoring the layout to fit student housing demand. Located within walking distance to USC, the Village, Exposition Park, the Coliseum, Trader Joe's, and countless local amenities, this property stands at the intersection of convenience, community, and long-term value. Whether you're an investor seeking a strong income-producing asset or an owner-user looking for a spacious, move-in-ready home near USC, 2647 Raymond Ave is a rare find in one of LA's fastest-growing neighborhoods.

Price History

Date
Event
Price
01/18/05
Sold
$531,000
Condition Rating
Good

The property, built in 1908, has undergone extensive modern renovations, including a stylish kitchen with stainless steel appliances and newer cabinetry, remodeled bathrooms with modern finishes, and hardwood flooring throughout. While the original infrastructure may be older, the significant updates make it move-in ready and well-maintained, aligning with the 'Good' condition criteria. The visible living areas also appear clean and well-kept.
Pros & Cons

Pros

Prime University Location: Situated within the USC Patrol Zone and minutes from campus, offering unparalleled convenience for students, faculty, and staff, and excellent walkability to amenities.
Strong Income-Generating Potential: Ideal for student housing or multi-tenant use, supported by its spacious layout, vacant delivery, and proximity to USC, maximizing rental income opportunities.
Extensive Modern Renovations: Thoughtfully updated with a stylish kitchen (stainless steel appliances, newer cabinetry), hardwood flooring, and remodeled bathrooms, providing a move-in ready and appealing living space.
Historic Tax Benefits & Charm: Enrolled in the Mills Act and located within an HPOZ, offering significant property tax savings while preserving the home's historic character.
ADU Potential on Large Lot: A generous lot size provides outstanding potential for adding an Accessory Dwelling Unit (ADU) or expanding, offering future income or living space flexibility.

Cons

Historic Property Maintenance: Built in 1908, the property, despite updates, may incur higher long-term maintenance costs associated with older infrastructure (e.g., plumbing, electrical, foundation) not explicitly addressed in cosmetic renovations.
HPOZ Renovation Restrictions: Being in a Historic Preservation Overlay Zone (HPOZ) can impose strict limitations and require extensive approvals for exterior modifications or additions, potentially complicating future renovation plans.
Urban Environment Drawbacks: Its prime urban location near USC and amenities, while convenient, may expose residents to increased noise levels, traffic congestion, and potential parking challenges common in dense university neighborhoods.

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