2837 Malabar Street, Los Angeles, California 90033, Los Angeles, 90033 - 3 bed, 1 bath
ACTIVE$700,000
2837 Malabar Street, Los Angeles, California 90033
3Beds
1Bath
1,084Sqft
5,195Lot
Year Built
1908
Close
-
List price
$700K
Original List price
$700K
Price/Sqft
$646
HOA
-
Days on market
-
Sold On
-
MLS number
MB24090721
Home ConditionPoor
Features
View-
About this home
Possibly Over-Priced:The estimated price is 35% below the list price. We found 3 Cons,5 Pros. Rank: price - $700.0K(50th), sqft - 1084(27th), beds - 3(50th), baths - 1(27th).
This property is being used as 2 units with 3 bed/1 bath on bottom floor and 2 bed/1 bath on top floor.
Condition Rating
Poor
Built in 1908, this property is 116 years old with no mentioned renovations or upgrades. The single exterior image shows an aged structure. Without any interior photos or renovation history, it's highly probable that the kitchen and bathrooms are original or very outdated, requiring substantial repairs and rehabilitation to meet modern living standards. While currently occupied, it likely has significant deferred maintenance and outdated systems.
Pros & Cons
Pros
Dual-Unit Configuration: The property is configured as two separate units (3 bed/1 bath and 2 bed/1 bath), offering significant income potential for investors or flexibility for owner-occupancy with rental income.
Historic Architecture & Character: Built in 1908, the property likely possesses architectural charm and character typical of its era, appealing to buyers seeking historical homes.
Prime Boyle Heights Location: Situated in the vibrant and culturally rich Boyle Heights neighborhood, offering convenient access to Downtown LA, the Arts District, and local amenities.
Generous Lot Size: A 5,195 sqft lot provides ample outdoor space, which is valuable in urban Los Angeles, allowing for potential landscaping, expansion, or recreational use.
Investment Opportunity: The multi-unit setup in a desirable, appreciating area like Boyle Heights presents a strong investment opportunity for rental income and long-term appreciation.
Cons
Significant Overpricing Relative to Estimated Value: The list price of $700,000 is substantially higher than the estimated value of $451,150, indicating a potential overvaluation or a price point that doesn't reflect its current condition.
Likely Need for Extensive Renovation: Given its 1908 build and lack of mentioned upgrades, the property likely requires significant investment in renovations to meet contemporary living standards and compete with updated homes in the area.
Compact Living Space: With 1,084 sqft divided into two units (5 total bedrooms, 2 total baths), the individual units and overall living space are quite compact, which might deter buyers seeking more spacious accommodations.