3741 Woolwine Drive, Los Angeles, California 90063, Los Angeles, 90063 - 3 bed, 2 bath

3741 Woolwine Drive, Los Angeles, California 90063 home-pic-0
ACTIVE$998,880
3741 Woolwine Drive, Los Angeles, California 90063
3Beds
2Baths
1,174Sqft
4,739Lot
Year Built
1952
Close
-
List price
$999K
Original List price
$999K
Price/Sqft
$851
HOA
-
Days on market
-
Sold On
-
MLS number
25524863
Home ConditionExcellent
Features
Excellent View: Bluff, City Lights, Hills, Landmark, Mountain(s)
Deck
Patio
ViewBluff,City Lights,Hills,Landmark,Mountain(s)

About this home

Possibly Over-Priced:The estimated price is 41% below the list price. We found 3 Cons,5 Pros. Rank: price - $998.9K(96th), sqft - 1174(61th), beds - 3(50th), baths - 2(50th).

Tucked into the hills of City Terrace- an artsy, up-and-coming enclave in unincorporated L.A. County with development-friendly zoning and fewer city restrictions- this mid-century-inspired home delivers privacy, personality, and serious flexibility. Impressively renovated over the past five years, the two-level property includes a stylish 2BR/1BA primary residence upstairs and an entirely separate 1BR/1BA bonus studio below, each with its own entrance and private outdoor space. Amazingly, this home's location qualifies it for the Community Reinvesment Act (CRA), which means there are 2% down payment GRANTS, 1% out-of-pocket down payment options, discounted interest rates below market available, and NO PRIVATE MORTGAGE INSURANCE options available for qualifying owner occupants! Whether you're thinking of multigenerational living, rental income, shared ownership, or the ultimate live/work setup, this one has got you covered! The home was taken "down to the studs" and rebuilt to upgrade the electrical and plumbing, reconfigure walls, add fresh insulation, dual-pane windows, recessed lighting, and a Nest-controlled HVAC system. The sleek kitchen has quartz counters, custom cabinetry, and a full suite of stainless appliances (including an in-unit washer/dryer, refrigerator, dishwasher, range, and vent hood). Bedroom blackout roller shades for lazy Sunday mornings are the kind of designer touches that make the whole space feel like a page from Dwell. Downstairs, the studio unit is equally dialed in with updated electrical, plumbing, and windows. It has a yard and a flexible floor plan that works perfectly as a creative studio, music space, or home office. Quartz countertops, a built-in fridge, a convection oven, recessed lighting, and a Bluetooth speaker light in the bathroom? Yep, it's got all the cool touches. Previously and recently rented at $1,850/month, it's also a smart way to offset your mortgage. Outdoor lovers will appreciate four separate spaces: a cozy private front patio, a large entertainer's deck with hillside views, a private yard for the lower unit, and a spacious rear lot ideal for your ADU dreams, garden oasis, or future expansion (buyer to verify). Lemon, orange, and pear trees add charm, and the sweeping views take in the San Gabriel Mountains, the Hollywood sign, Griffith Observatory, Dodger Stadium, and even a sliver of DTLA. Moments from Cal State LA, City Terrace Park, local hangouts, and the I-10 and 710 freeways, this move-in-ready property combines thoughtful upgrades, income potential, and creative energy in one of East L.A.'s most promising neighborhoods.

Price History

Date
Event
Price
01/24/20
Sold
$481,000
Condition Rating
Excellent

This property has undergone an extensive 'down to the studs' renovation within the last five years, bringing all major systems (electrical, plumbing, HVAC) and aesthetic components up to current quality standards. Both the main kitchen and the studio kitchenette feature sleek modern cabinetry, quartz countertops, stainless steel appliances, and contemporary backsplashes. The bathrooms are equally updated with modern vanities, fixtures, and stylish tiling. The property shows no signs of deferred maintenance and is virtually new in its finishes and functionality.
Pros & Cons

Pros

Income Potential & Flexibility: The property features a two-level layout with a separate 1BR/1BA bonus studio, each with its own entrance and private outdoor space, offering significant potential for rental income ($1,850/month previously), multigenerational living, or a live/work setup.
Extensive & Recent Renovations: The home has undergone impressive renovations over the past five years, including a 'down to the studs' rebuild with upgraded electrical, plumbing, new insulation, dual-pane windows, recessed lighting, and a Nest-controlled HVAC system, making it move-in ready.
Financial Incentives (CRA): The location qualifies for Community Reinvestment Act (CRA) benefits, providing attractive financial options such as 2% down payment grants, 1% out-of-pocket down payment options, discounted interest rates, and no Private Mortgage Insurance for qualifying owner-occupants.
Panoramic Views & Multiple Outdoor Spaces: Offers sweeping views of the San Gabriel Mountains, Hollywood sign, Griffith Observatory, Dodger Stadium, and DTLA. It also boasts four distinct outdoor areas, including a large entertainer's deck and a spacious rear lot with ADU potential.
Desirable Location & Zoning: Situated in City Terrace, an 'artsy, up-and-coming enclave' in unincorporated L.A. County, benefiting from development-friendly zoning and fewer city restrictions. It's conveniently located near Cal State LA, City Terrace Park, and major freeways (I-10 and 710).

Cons

Significant Price Discrepancy: The listing price of $998,880 is substantially higher than the estimated property value of $589,220.89, indicating a potential overvaluation compared to market estimates and recent comparable sales.
Compact Interior Space: With a total of 1174 sqft for 3 bedrooms and 2 bathrooms (including the separate studio), the interior living space is relatively compact, which may not suit buyers seeking more expansive primary residences.
Unincorporated Area Nuances: While offering 'fewer city restrictions,' being in unincorporated L.A. County might entail different regulatory landscapes or service provisions compared to incorporated cities, which could be a consideration for some buyers.

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