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2823 Budau Avenue, Los Angeles, California 90032, Los Angeles, 90032 - 4 bed, 4 bath

2823 Budau Avenue, Los Angeles, California 90032 home-pic-0
ACTIVE$775,000
2823 Budau Avenue, Los Angeles, California 90032
4Beds
4Baths
1,130Sqft
4,798Lot

Price Vs. Estimate

The estimated value ($557,084.91) is $217,915.09 (28%) lower than the list price ($775,000). This property may be overpriced.

Key pros and cons

Top Pros:
Income Potential / ADU: The property includes a converted garage studio with a full bathroom, kitchenette, and separate access from Ballard Street, offering significant income generation or flexible living arrangements.
Top Cons:
Cash Only Sale: The requirement for a cash-only sale severely limits the potential buyer pool, which could prolong market time and impact the final sale price.

Compared to the nearby listings

Price:$775.0K vs avg $860.0K ($-85,000)34%
Size:1,130 sqft vs avg 1,264.5 sqft38%
Price/sqft:$686 vs avg $70449%

More Insights

Built in 1948 (77 years old).
Condition: Built in 1948, this property is explicitly marketed as a 'CASH ONLY SALE' for 'INVESTORS,' which strongly indicates significant underlying issues preventing conventional financing. The kitchen features 'oak wood cabinets,' suggesting an outdated style, and the overall 'unknown system condition' for major components like HVAC, electrical, and plumbing in a home of this age points to a need for substantial repairs and rehabilitation. While a new roof was installed in 2019 and there's recessed lighting, these updates are insufficient to elevate the property beyond a 'poor' condition given the likely extensive work required for critical systems and interior modernization.
Year Built
1948
Close
-
List price
$775K
Original List price
$998K
Price/Sqft
$686
HOA
-
Days on market
-
Sold On
-
MLS number
IV24227647
Home ConditionPoor
Features
Good View: Mountain(s)
Patio
ViewMountain(s)

About this home

CALLING ALL INVESTORS! CASH ONLY SALE. Located in the HIGHLY DESIRED AREA of EL SERENO, just a couple miles from Cal State University and around the corner from Alhambra, you'll find this unique opportunity to own a property that extends from one street to the next. The front of the home faces Budau Avenue and the back of the home where the garage is located has entry directly from Ballard St. The main home welcomes you with 3 bedrooms, 2 full baths, oak wood cabinets in the kitchen, NEW ROOF installed in 2019 and recessed lighting. ADU possibility as the garage has already been converted into living space ~ The studio has its full bathroom, kitchenette, and sleeping area. The converted garage also has its own adjacent uncovered parking area with direct access from Ballard. The property sits on a tri-level lot with each area gated for safety. Fruit Trees: Grape, banana, orange, green lemons. There is an additional half bath on the 2nd level.

Price History

Date
Event
Price
12/07/94
Sold
$142,000
Condition Rating
Poor
Built in 1948, this property is explicitly marketed as a 'CASH ONLY SALE' for 'INVESTORS,' which strongly indicates significant underlying issues preventing conventional financing. The kitchen features 'oak wood cabinets,' suggesting an outdated style, and the overall 'unknown system condition' for major components like HVAC, electrical, and plumbing in a home of this age points to a need for substantial repairs and rehabilitation. While a new roof was installed in 2019 and there's recessed lighting, these updates are insufficient to elevate the property beyond a 'poor' condition given the likely extensive work required for critical systems and interior modernization.
Pros & Cons

Pros

Income Potential / ADU: The property includes a converted garage studio with a full bathroom, kitchenette, and separate access from Ballard Street, offering significant income generation or flexible living arrangements.
Prime Location: Located in the highly desired El Sereno area, with close proximity to Cal State University and Alhambra, enhancing its appeal for renters and future buyers.
Unique Dual Street Access: The property extends from Budau Avenue to Ballard Street, providing convenient access from two different streets, including dedicated garage entry.
Recent Major Upgrade: A new roof was installed in 2019, mitigating a significant potential maintenance cost for the buyer and adding to the property's longevity.
Desirable Amenities & Security: Features include mature fruit trees (grape, banana, orange, green lemons) and a gated tri-level lot, enhancing lifestyle appeal and security.

Cons

Cash Only Sale: The requirement for a cash-only sale severely limits the potential buyer pool, which could prolong market time and impact the final sale price.
Potential Overpricing: The current list price of $775,000 is significantly higher than the estimated property value of $557,084.91 (-28% estimation ratio), indicating a possible overvaluation or a challenging appraisal process.
Age of Property & Unknown System Condition: Built in 1948, while a new roof is present, the property may have aging infrastructure (e.g., plumbing, electrical, HVAC) not explicitly updated, which could lead to unforeseen repair costs for an investor.

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