267 Olive Street, Claremont, California 91711, Claremont, 91711 - bed, bath
ACTIVE UNDER CONTRACT$950,000
267 Olive Street, Claremont, California 91711
0Bed
0Bath
1,664Sqft
9,830Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Income-Generating Duplex: The property consists of two separate units, offering immediate rental income potential and a strong investment opportunity for a new owner.
Top Cons:
Advanced Age & Potential System Obsolescence: Built in 1933, the property likely features original or older infrastructure (e.g., plumbing, electrical, lack of central HVAC), which may require significant future capital expenditures.
Compared to the nearby listings
Price:$950.0K vs avg $1.23M ($-275,000)40%
Size:1,664 sqft vs avg 1,664 sqft50%
Price/sqft:$571 vs avg $57150%
More Insights
Built in 1933 (92 years old).
Condition: Built in 1933, the property features a 'vintage kitchen' and dated bathroom, both of which appear to have not undergone significant renovation in 30-50+ years. The kitchen has older white appliances, dated cabinets, countertops, and linoleum flooring. The bathroom similarly shows very dated fixtures and flooring. While the property benefits from new interior and exterior paint, making it 'rent ready' and clean, these are cosmetic updates. Major systems, including the lack of central HVAC (evidenced by window units), and the overall 'Advanced Age & Potential System Obsolescence' noted in the property analysis, indicate that substantial repairs and rehabilitation are required to bring the property to modern standards, aligning with the 'Poor' condition criteria.
Year Built
1933
Close
-
List price
$950K
Original List price
$1.07M
Price/Sqft
$571
HOA
-
Days on market
-
Sold On
-
MLS number
CV25058502
Home ConditionPoor
Features
ViewNeighborhood
About this home
Vintage Claremont Two on a Lot - Walk to Village - Super clean - with lots of original details * Each home has new interior and exterior paint, 2 bedrooms and 1 bath each and are approximately 832 square feet. There is a living/dining area, vintage kitchen with room for a breakfast table and each and have their own washer/dryer hookups. The bathroom and closet are both jack and jill style. Both units are rent ready or ready for a new owner and one new tenant. The lot is 9,830 square feet - check with City of Claremont about adding an ADU or expanding houses. Olive house fits two cars tandem in the driveway and the 313 Arrow property has parking for multiple cars. Separately metered gas, electric and water. Walk to Downtown Claremont, College Park, Metro Station and Claremont Colleges. Probate Sale - no court approval required.
Condition Rating
Poor
Built in 1933, the property features a 'vintage kitchen' and dated bathroom, both of which appear to have not undergone significant renovation in 30-50+ years. The kitchen has older white appliances, dated cabinets, countertops, and linoleum flooring. The bathroom similarly shows very dated fixtures and flooring. While the property benefits from new interior and exterior paint, making it 'rent ready' and clean, these are cosmetic updates. Major systems, including the lack of central HVAC (evidenced by window units), and the overall 'Advanced Age & Potential System Obsolescence' noted in the property analysis, indicate that substantial repairs and rehabilitation are required to bring the property to modern standards, aligning with the 'Poor' condition criteria.
Pros & Cons
Pros
Income-Generating Duplex: The property consists of two separate units, offering immediate rental income potential and a strong investment opportunity for a new owner.
Exceptional Walkability: Prime location within walking distance to Downtown Claremont, College Park, Metro Station, and Claremont Colleges, significantly enhancing tenant appeal and property value.
Development Potential: The large 9,830 sqft lot provides ample space and explicit potential for adding an Accessory Dwelling Unit (ADU) or expanding existing structures, subject to city approval.
Independent Utility Metering: Each unit features separately metered gas, electric, and water, simplifying tenant billing and reducing landlord management overhead.
Turnkey Rental Condition: Both units have received new interior and exterior paint, making them 'rent ready' and minimizing immediate renovation costs for a new owner.
Cons
Advanced Age & Potential System Obsolescence: Built in 1933, the property likely features original or older infrastructure (e.g., plumbing, electrical, lack of central HVAC), which may require significant future capital expenditures.
Compact Unit Sizes: Each unit is approximately 832 square feet, which is relatively small for a 2-bedroom configuration, potentially limiting tenant demographics or rental rate ceilings.
Outdated Interior Layouts & Finishes: The description mentions 'vintage kitchen' and 'jack and jill style' bathrooms/closets, suggesting functional and aesthetic obsolescence that may not meet modern tenant expectations without further investment.