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316 W Lugonia Avenue, Redlands, California 92374, Redlands, 92374 - bed, bath

316 W Lugonia Avenue, Redlands, California 92374 home-pic-0
ACTIVE$750,000
316 W Lugonia Avenue, Redlands, California 92374
0Bed
0Bath
2,437Sqft
15,011Lot

Price Vs. Estimate

The estimated value ($536,602.31) is $213,397.69 (28%) lower than the list price ($750,000). This property may be overpriced.

Key pros and cons

Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 15011, living area = 2437.
Top Cons:
Age of Structures: With original construction dates of 1902 and 1928, the properties are significantly older, potentially requiring ongoing maintenance and further capital expenditures beyond current updates.

Compared to the nearby listings

Price:$750.0K vs avg $602.5K (+$147,500)85%
Size:2,437 sqft vs avg 1,648 sqft85%
Price/sqft:$308 vs avg $35719%

More Insights

Built in 1902 (123 years old).
Condition: The property consists of two older homes (built 1928 and late 1950s) with clearly outdated kitchens and bathrooms, featuring older cabinets, appliances, countertops, and fixtures. While major systems like electrical, central HVAC, and some plumbing have been updated, and one unit has a newer roof (3-4 years old), the overall aesthetic and condition of the interior finishes indicate a need for significant cosmetic updates. The homes are aged but maintained, with functional core systems, aligning with the 'Fair' condition criteria.
Year Built
1902
Close
-
List price
$750K
Original List price
$750K
Price/Sqft
$308
HOA
-
Days on market
-
Sold On
-
MLS number
IG25124827
Home ConditionFair
Features
View-

About this home

TWO HOUSES ON ONE LOT. HOUSES SIT FACING LUGONIA STREET AND ARE SIDE BY SIDE. The addresses are 316 & 320 W Lugonia Ave. Each have their own electric & gas meters, water lines and drive ways. Each house has 2 bedrooms with 2 baths and are approximately 1200 sq foot each. 320 W Lugonia was built in 1928 and moved to this location back in 1950. The second home was added, built in the late 50s. Both have indoor laundry hook ups. Both units have updated electrical systems including main boxes, 316 has partially upgraded water piping, address 320 has full water piping upgrade. Unit 320 has carport parking and 316 has uncovered parking space. Both homes have their own fenced backyards. Unit 320 has newer roof, within 3-4 years old. BOTH PROPERTIES HAVE CENTRAL HEATING AND AIR SYSTEMS. They are close to Texonia Park, Citrus Plaza and easy freeway access. Could work well for an investor or an extended/multiple family living situation, or live in one and rent the other.

Condition Rating
Fair
The property consists of two older homes (built 1928 and late 1950s) with clearly outdated kitchens and bathrooms, featuring older cabinets, appliances, countertops, and fixtures. While major systems like electrical, central HVAC, and some plumbing have been updated, and one unit has a newer roof (3-4 years old), the overall aesthetic and condition of the interior finishes indicate a need for significant cosmetic updates. The homes are aged but maintained, with functional core systems, aligning with the 'Fair' condition criteria.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 15011, living area = 2437.
Dual Unit Configuration: The property features two independent houses on one lot, each with separate utilities, driveways, and fenced backyards, offering significant flexibility for investors, multi-generational living, or owner-occupancy with rental income.
Updated Core Systems: Both units benefit from updated electrical systems, and one unit includes a newer roof (3-4 years old) and fully upgraded water piping, mitigating immediate concerns for critical infrastructure.
Central HVAC: Both properties are equipped with central heating and air conditioning systems, providing essential comfort and climate control for occupants.
Large Lot Size: A generous 15,011 sqft lot offers ample outdoor space and potential for further development or landscaping enhancements.
Convenient Location: The property boasts a desirable location with proximity to Texonia Park, Citrus Plaza, and easy freeway access, enhancing its appeal to residents.

Cons

Age of Structures: With original construction dates of 1902 and 1928, the properties are significantly older, potentially requiring ongoing maintenance and further capital expenditures beyond current updates.
Valuation Discrepancy: The list price of $750,000 is considerably higher than the estimated value of $536,602.31, suggesting potential overpricing or a need for a detailed appraisal to justify the asking price.
Partial Plumbing Upgrade: While one unit has fully upgraded water piping, the other only has a partial upgrade, which could indicate future plumbing issues or necessitate additional investment for a complete system overhaul.

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