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323 E 93rd Street, Los Angeles, California 90003, Los Angeles, 90003 - bed, bath

323 E 93rd Street, Los Angeles, California 90003 home-pic-0
ACTIVE$849,000
323 E 93rd Street, Los Angeles, California 90003
0Bed
0Bath
1,911Sqft
4,832Lot
Year Built
1924
Close
-
List price
$849K
Original List price
$849K
Price/Sqft
$444
HOA
-
Days on market
-
Sold On
-
MLS number
MB25091148
Home ConditionExcellent
Features
ViewNeighborhood

About this home

We found 3 Cons,5 Pros. Rank: price - $849.0K(67th), sqft - 1911(50th), beds - undefined(50th), baths - undefined(50th).

LINE IN 1 and COLLECT MONTHLY RENT TO OFFSET THE MORTGAGE PAYMENT: Introducing YOU to a fantastic investment opportunity: 2 DETACHED HOMES ON ONE LOT- This newly built (2021) ADU & the existing SFR that was also redone in 2021 offers a chance for investors or families to begin their real estate portfolio. With the potential for rental income to help cover mortgage costs, each unit features private entrances, ample space, and essential amenities. Positioned in a sought-after location near amenities and transportation, this property presents a solid investment opportunity. Unit breakdown- Front Unit is NOW VACANT - 2 Bdr 2 Bath plus a flex room that can be used as a 3rd bedroom or a home office-perfect for the entrepreneurial that operates remotely. Rear Unit: Newly built ADU (2021) 3 Bdr 2 Bath, currently occupied at a monthly rental rate of $3,160 and each unit is independently metered for gas and electric! This is a perfect live in one and rent the other scenario or perfect for that extended family that wants to stay together and enjoy the benefits of homeownership. Parking is not an issue here, enough surface parking spots for each unit. All commuters enjoy easy access to the 110 & 105 freeways connecting to the other major freeways. Property meets all FHA, VA, CONV loan criteria-book your private tour today.

Price History

Date
Event
Price
01/19/22
Sold
$770,000
02/05/21
Sold
$337,000
01/11/18
Sold
$225,000
07/10/12
Sold
$78,000
Condition Rating
Excellent
The property consists of two detached homes, with the rear ADU newly built in 2021 and the existing front SFR extensively redone in 2021. This means both units are virtually new or have undergone comprehensive renovations within the last 3 years, aligning with the 'Excellent' criteria for properties built or renovated within 5-10 years. Although no interior images are provided, the description strongly implies all major components, including kitchens and bathrooms, are new or virtually new, meeting current quality standards with no deferred maintenance. The exterior images also show a fresh and updated appearance.
Pros & Cons

Pros

Dual Income & Investment Potential: Features two detached homes on one lot, with the rear ADU currently generating $3,160/month in rent and the front unit vacant, offering immediate income or owner-occupancy flexibility.
Extensive Recent Renovations: The rear ADU was newly built in 2021, and the existing front SFR was also extensively redone in 2021, suggesting modern condition and reduced immediate capital expenditures.
Independent Functionality & Privacy: Each unit boasts private entrances and is independently metered for gas and electric, ensuring tenant privacy and simplified utility management for the owner.
Versatile Occupancy Options: Ideal for a 'live in one and rent the other' scenario, multi-generational living, or as a pure investment property, appealing to a broad range of buyers.
Convenient Location & Ample Parking: Offers easy access to major freeways (110 & 105) for commuters and provides sufficient surface parking spots for each unit, a significant advantage in Los Angeles.

Cons

Age of Original Structure: Despite recent renovations, the front unit's original structure dates back to 1924, which may raise concerns about underlying older infrastructure or potential future maintenance not covered by the remodel.
Undefined Outdoor Space: While the property has a 4,832 sqft lot, the description does not specify dedicated private outdoor areas or significant amenities for each unit, which could be a drawback for those seeking private outdoor living.
Neighborhood-Specific Appeal: The 'Neighborhood' view and the general characteristics of the 90003 zip code might not appeal to all buyer segments, potentially limiting premium market value compared to properties in more affluent Los Angeles areas.

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