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3868 3rd Avenue, Los Angeles, California 90008, Los Angeles, 90008 - 3 bed, 2 bath

3868 3rd Avenue, Los Angeles, California 90008 home-pic-0
ACTIVE UNDER CONTRACT$750,000
3868 3rd Avenue, Los Angeles, California 90008
3Beds
2Baths
1,268Sqft
5,289Lot

Price Vs. Estimate

The estimated value ($750,000) is $0 (0%) lower than the list price ($750,000). This property may be overpriced.

Key pros and cons

Top Pros:
Prime Location: Located in Leimert Park, a desirable area with proximity to BMO stadium, metro, and major freeways.
Top Cons:
Fixer-Upper Condition: Property is a fixer-upper and requires significant renovation, potentially incurring substantial costs.

Compared to the nearby listings

Price:$750.0K vs avg $1.32M ($-575,000)8%
Size:1,268 sqft vs avg 1,911 sqft8%
Price/sqft:$591 vs avg $65639%

More Insights

Built in 1924 (101 years old).
Condition: The property was built in 1924 and requires updates. The kitchen has stainless steel appliances, but the cabinets and overall style are dated. The bathroom appears to have been partially updated with a new vanity, but other elements seem older. The interior shows signs of wear and tear, including worn carpets and dated fixtures. While functional, it needs cosmetic and potentially some system updates.
Year Built
1924
Close
-
List price
$750K
Original List price
$750K
Price/Sqft
$591
HOA
-
Days on market
-
Sold On
-
MLS number
25560905
Home ConditionFair
Features
Deck
Patio
View-

About this home

Attention all developers. Perfect investment opportunity for a possible great ROI on this prime location fixer in Leimert Park. With a high possible future VAR, this 1268 sq foot 3 bedroom 2 bath is ready for your custom touch. Situated on an approximate 5289 sq. foot lot with a boutique back yard and detached 2 car garage with work shed and long driveway, the potential is unlimited. Located near BMO stadium (with Airbnb income potential) and close to the metro and major freeways, grocery stores etc., start renovating now. With dual sitting patios, fireplace and beautiful classic arch work interiors, this could become a spectacular home. Kitchen has stainless steel appliances in place with manufactured hardwood floors in common areas, and could be pristine with additional upgrades. Bright and airy this fixer could get the star renovation you have been looking for whether it be income potential or VAR gain. Don't miss this great opportunity to realize possible major upside potential today!

Nearby schools

2/10
Tom Bradley Global Awareness Magnet School
Public,•K-5•0.1mi
2/10
Forty-Second Street Elementary School
Public,•K-5•0.6mi
4/10
Birdielee V. Bright Elementary School
Public,•K-5•0.7mi
3/10
Sixth Avenue Elementary School
Public,•K-5•0.7mi
2/10
Coliseum Street Elementary School
Public,•K-5•1.4mi
3/10
Hillcrest Drive Elementary School
Public,•K-5•1.6mi
2/10
Fifty-Fourth Street Elementary School
Public,•K-5•2.1mi
2/10
Audubon Middle School
Public,•6-8•0.7mi
3/10
Johnnie Cochran, Jr., Middle School
Public,•6-8•1.9mi
5/10
Foshay Learning Center
Public,•K-12•0.8mi
1/10
Crenshaw Science, Technology, Engineering, Math And Medicine Magnet
Public,•9-12•1.4mi
2/10
Susan Miller Dorsey Senior High School
Public,•9-12•1.6mi
Condition Rating
Fair
The property was built in 1924 and requires updates. The kitchen has stainless steel appliances, but the cabinets and overall style are dated. The bathroom appears to have been partially updated with a new vanity, but other elements seem older. The interior shows signs of wear and tear, including worn carpets and dated fixtures. While functional, it needs cosmetic and potentially some system updates.
Pros & Cons

Pros

Prime Location: Located in Leimert Park, a desirable area with proximity to BMO stadium, metro, and major freeways.
Investment Potential: Excellent investment opportunity with potential for high ROI and future VAR (Value After Repair).
Lot Size and Garage: Features a good-sized lot (approx. 5289 sq ft) with a detached 2-car garage, work shed, and long driveway, offering ample space and storage.
Classic Architectural Details: Includes beautiful classic arch work interiors and a fireplace, adding character and charm.
Airbnb Potential: Proximity to BMO stadium creates potential for Airbnb income.

Cons

Fixer-Upper Condition: Property is a fixer-upper and requires significant renovation, potentially incurring substantial costs.
Active Under Contract: The property is currently under contract, which may limit immediate availability.
Age of Property: Built in 1924, the property may have outdated systems and require extensive upgrades to meet modern standards.

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