316 W Lugonia Avenue, Redlands, California 92374, Redlands, 92374 - 4 bed, 4 bath
ACTIVE$750,000
316 W Lugonia Avenue, Redlands, California 92374
4Beds
4Baths
2,437Sqft
15,011Lot
Price Vs. Estimate
The estimated value ($537,777.445) is $212,222.555 (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:
Significant Price Discrepancy: The listing price of $750,000 is considerably higher than the estimated property value of $537,777, which may require strong justification or indicate an overvaluation.
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: This property consists of two very old homes (built 1928 and late 1950s). While the description highlights significant updates to major systems, including updated electrical, central heating and air in both units, a newer roof on one unit (3-4 years old), and plumbing upgrades, the provided images of the kitchen and bathroom reveal severely outdated conditions. These areas feature older cabinets, countertops, appliances, fixtures, and flooring, indicating a need for substantial cosmetic and functional renovation to meet modern standards. The property is aged but maintained with functional major components, yet the visible interiors show clear signs of being outdated, requiring more than minor cosmetic updates but not suffering from critical safety or structural defects that would classify it as 'Poor'.
Year Built
1902
Close
-
List price
$750K
Original List price
$750K
Price/Sqft
$308
HOA
-
Days on market
-
Sold On
-
MLS number
IG25124855
Home ConditionFair
Features
Good View: Mountain(s), Neighborhood
ViewMountain(s), Neighborhood
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
This property consists of two very old homes (built 1928 and late 1950s). While the description highlights significant updates to major systems, including updated electrical, central heating and air in both units, a newer roof on one unit (3-4 years old), and plumbing upgrades, the provided images of the kitchen and bathroom reveal severely outdated conditions. These areas feature older cabinets, countertops, appliances, fixtures, and flooring, indicating a need for substantial cosmetic and functional renovation to meet modern standards. The property is aged but maintained with functional major components, yet the visible interiors show clear signs of being outdated, requiring more than minor cosmetic updates but not suffering from critical safety or structural defects that would classify it as 'Poor'.
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 Income/Multi-Generational Potential: The property features two separate houses on one lot, each with its own utilities, offering excellent flexibility for investors, multi-generational living, or owner-occupiers seeking rental income.
Separate Utilities & Amenities: Each unit benefits from independent electric, gas, and water meters, separate driveways, and private fenced backyards, enhancing privacy and ease of management.
Updated Core Systems: Both units have updated electrical systems, and one unit (320) boasts a newer roof (3-4 years old) and fully upgraded water piping, indicating recent capital improvements.
Central Heating and Air: Both properties are equipped with central heating and air systems, providing modern comfort and climate control for residents.
Convenient Location & Large Lot: Situated on a generous 15,011 sq ft lot, the property offers ample outdoor space and is conveniently located near Texonia Park, Citrus Plaza, and provides easy freeway access.
Cons
Significant Price Discrepancy: The listing price of $750,000 is considerably higher than the estimated property value of $537,777, which may require strong justification or indicate an overvaluation.
Age of Structures & Partial Upgrades: The houses are older (1928 and late 1950s), and while some systems are updated, one unit (316) only has partially upgraded water piping, suggesting potential for future maintenance or renovation costs.
Inconsistent Parking: Parking solutions are mixed, with one unit having a carport and the other only uncovered parking, which might be a minor drawback for potential tenants or residents.