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2662 Rich Street, Los Angeles, California 90039, Los Angeles, 90039 - 3 bed, 2 bath

2662 Rich Street, Los Angeles, California 90039 home-pic-0
ACTIVE$949,999
2662 Rich Street, Los Angeles, California 90039
3Beds
2Baths
1,116Sqft
5,447Lot

Price Vs. Estimate

The estimated value ($949,999) is $0 (0%) lower than the list price ($949,999). This property may be overpriced.

Key pros and cons

Top Pros:
R-2 Zoning & Development Potential: The R-2 zoning offers significant potential for future expansion or the addition of a second unit (ADU), providing a valuable opportunity for rental income or maximizing property value.
Top Cons:
Age of Construction: Built in 1920, the property is over a century old, which often implies potential for outdated infrastructure (e.g., plumbing, electrical systems) and higher maintenance costs not explicitly detailed.

Compared to the nearby listings

Price:$950.0K vs avg $1.58M ($-635,001)10%
Size:1,116 sqft vs avg 1,643 sqft26%
Price/sqft:$851 vs avg $1.0K28%

More Insights

Built in 1920 (105 years old).
Condition: The property, built in 1920, shows signs of regular maintenance and some updates, but many key areas are outdated. The kitchen features granite countertops and stainless steel appliances, which are functional, but the wood cabinets, dated tile flooring, and fluorescent lighting suggest a renovation that is likely 15-30 years old. The main living areas also have dated tile flooring. While mini-split AC units are a more modern addition, they don't constitute a full recent renovation. The exterior and overall aesthetic are also dated. The home is livable and maintained, but requires minor updates to bring it to current quality standards, aligning with the 'Fair' condition criteria.
Year Built
1920
Close
-
List price
$950K
Original List price
$1.05M
Price/Sqft
$851
HOA
-
Days on market
-
Sold On
-
MLS number
SR25155518
Home ConditionFair
Features
Patio
View-

About this home

REDUCED 4 QUICK SALE: A beautifully maintained 3-bedroom, 2-bathroom home offering 1,116 sq ft of comfortable living space on a generous 5,447 sq ft lot. This property has a private studio in the basement. Nestled in a desirable Los Angeles neighborhood, this property presents a fantastic opportunity for homeowners and investors alike. Zoned R-2, the lot provides potential for future expansion or the addition of a second unit, making it an ideal candidate for those looking to maximize value or generate rental income. The home features a functional layout with spacious bedrooms, ample natural light, and a private backyard perfect for entertaining, gardening, or relaxing in the California sunshine. Conveniently located just minutes from Downtown LA, major freeways, parks, dining, and shopping, this property offers both tranquility and accessibility. Whether you're a first-time buyer, seasoned investor, or someone seeking a development opportunity, 2662 Rich Street is full of promise. Don’t miss this rare chance to own an R-2 zoned gem in the heart of Los Angeles!

Nearby schools

8/10
Allesandro Elementary School
Public,•K-6•0.5mi
7/10
Dorris Place Elementary School
Public,•K-6•0.5mi
4/10
Glassell Park Elementary School
Public,•K-6•0.6mi
2/10
Aragon Avenue Elementary School
Public,•K-5•1.1mi
7/10
Solano Avenue Elementary School
Public,•K-6•1.6mi
4/10
Loreto Street Elementary School
Public,•K-5•1.7mi
6/10
Irving STEAM Magnet
Public,•6-8•1.4mi
5/10
Florence Nightingale Middle School
Public,•6-8•1.6mi

Price History

Date
Event
Price
09/04/08
Sold
$280,000
Condition Rating
Fair
The property, built in 1920, shows signs of regular maintenance and some updates, but many key areas are outdated. The kitchen features granite countertops and stainless steel appliances, which are functional, but the wood cabinets, dated tile flooring, and fluorescent lighting suggest a renovation that is likely 15-30 years old. The main living areas also have dated tile flooring. While mini-split AC units are a more modern addition, they don't constitute a full recent renovation. The exterior and overall aesthetic are also dated. The home is livable and maintained, but requires minor updates to bring it to current quality standards, aligning with the 'Fair' condition criteria.
Pros & Cons

Pros

R-2 Zoning & Development Potential: The R-2 zoning offers significant potential for future expansion or the addition of a second unit (ADU), providing a valuable opportunity for rental income or maximizing property value.
Prime Los Angeles Location: Nestled in a desirable Los Angeles neighborhood, the property boasts excellent accessibility, being minutes from Downtown LA, major freeways, parks, dining, and shopping.
Private Basement Studio: The inclusion of a private studio in the basement adds immediate versatility, offering potential for rental income, a dedicated workspace, or guest accommodations.
Generous Lot Size: A substantial 5,447 sq ft lot provides ample outdoor space and a private backyard, which is a premium in urban Los Angeles, ideal for entertaining, gardening, or relaxation.
Attractive Price Point & Investment Value: The property has been reduced for a quick sale and is currently listed below its estimated market value ($949,999 vs. $1,019,505), presenting a compelling investment opportunity.

Cons

Age of Construction: Built in 1920, the property is over a century old, which often implies potential for outdated infrastructure (e.g., plumbing, electrical systems) and higher maintenance costs not explicitly detailed.
Compact Interior Living Space: With 1,116 sq ft for 3 bedrooms, the interior living area is relatively compact, which may not appeal to buyers seeking more spacious layouts or additional room for a growing family.
Lack of Specific Modern Upgrades: While described as 'beautifully maintained,' the listing does not specify recent major renovations to key areas like the kitchen, bathrooms, or the presence of modern amenities such as central air conditioning, suggesting potential future investment for contemporary updates.

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