329 E 109th, Los Angeles, California 90061, Los Angeles, 90061 - 3 bed, 2 bath
ACTIVE$500,000$1,142/sqft
Est. Value: $548,812
9%
BelowEstimate
329 E 109th, Los Angeles, California 90061
3Beds
2Baths
1,142Sqft
5,403Lot
Price Vs. Estimate
The estimated value ($548,811.9) is $48,811.9 (9%) higher than the list price ($500,000). This property may be underpriced.
Key pros and cons
Top Pros:
Value-Add Opportunity: The property is explicitly marketed as a 'value add opportunity' with 'strong upside' through cosmetic updates and general tender loving care, appealing to investors or buyers seeking to customize and increase equity.
Top Cons:
Requires Significant Updates: The description notes the need for 'cosmetic updates and general TLC,' indicating the property is not move-in ready and will require additional investment to modernize and enhance its appeal.
Compared to the nearby listings
Price:$500.0K vs avg $642.5K ($-142,500)21%
Size:1,142 sqft vs avg 1,092.5 sqft54%
Price/sqft:$438 vs avg $59321%
More Insights
Built in 1970 (56 years old).
Condition: Built in 1970, this property is 54 years old and shows extensive signs of deferred maintenance and outdated features throughout. The description explicitly states it's a 'value add opportunity' requiring 'cosmetic updates and general TLC.' Images reveal a very dated kitchen with old cabinets, basic appliances, and worn linoleum flooring. Bathrooms feature old vanities, fixtures, and worn tile. Carpets are stained and dirty, walls show peeling paint and wear, and lighting fixtures are basic and outdated. While the layout is described as 'solid,' the property requires substantial rehabilitation and updates to all major cosmetic components and likely some systems due to age, aligning with a 'poor' condition rating.
Year Built
1970
Close
-
List price
$500K
Original List price
$500K
Price/Sqft
$438
HOA
-
Days on market
-
Sold On
-
MLS number
SB26013086
Home ConditionPoor
Features
View-
About this home
3 bedroom, 2 bathroom value add opportunity in South Central Los Angeles near the 110. Solid layout and strong upside with cosmetic updates and general TLC. Functional floor plan, well sized bedrooms, and a private yard with room to enhance for added appeal. Gated parking adds convenience. Prime location with quick access to Downtown LA, USC, transit, and major employment centers, supporting strong tenant demand and resale potential.
S
Susan Jung
Listing Agent
Price History
Date
Event
Price
04/04/23
Sold
$580,000
Condition Rating
Poor
Built in 1970, this property is 54 years old and shows extensive signs of deferred maintenance and outdated features throughout. The description explicitly states it's a 'value add opportunity' requiring 'cosmetic updates and general TLC.' Images reveal a very dated kitchen with old cabinets, basic appliances, and worn linoleum flooring. Bathrooms feature old vanities, fixtures, and worn tile. Carpets are stained and dirty, walls show peeling paint and wear, and lighting fixtures are basic and outdated. While the layout is described as 'solid,' the property requires substantial rehabilitation and updates to all major cosmetic components and likely some systems due to age, aligning with a 'poor' condition rating.
Pros & Cons
Pros
Value-Add Opportunity: The property is explicitly marketed as a 'value add opportunity' with 'strong upside' through cosmetic updates and general tender loving care, appealing to investors or buyers seeking to customize and increase equity.
Prime Location & Accessibility: Situated in a 'prime location' in South Central Los Angeles, offering 'quick access to Downtown LA, USC, transit, and major employment centers,' which is highly desirable for commuters and urban living.
Strong Market Demand: The excellent location directly 'supports strong tenant demand and resale potential,' indicating a robust market for both rental income and future appreciation.
Functional Floor Plan: Features a 'solid layout and functional floor plan' with 'well sized bedrooms,' providing a practical and comfortable living environment.
Secure Gated Parking: The inclusion of 'gated parking adds convenience' and an important layer of security, a significant advantage in an urban setting.
Cons
Requires Significant Updates: The description notes the need for 'cosmetic updates and general TLC,' indicating the property is not move-in ready and will require additional investment to modernize and enhance its appeal.
Age of Property: Built in 1970, the property's age suggests that major systems (e.g., plumbing, electrical, HVAC) may be original or outdated, potentially requiring future capital expenditures for upgrades or replacements.
Price Discrepancy from Previous Sale: The current list price of $500,000 is notably lower than its previous sale price of $580,000 (April 2023), which could raise questions about the property's condition, market value, or seller motivation.