400 E Cherry Avenue, Lompoc, CA 93436, Lompoc, 93436 - 5 bed, 3 bath
ACTIVE$750,000$1,580/sqft
Est. Value: $700,697
-6%
AboveEstimate
400 E Cherry Avenue, Lompoc, CA 93436
5Beds
3Baths
1,580Sqft
6,098Lot
Price Vs. Estimate
The estimated value ($700,696.795) is $49,303.205 (6%) lower than the list price ($750,000). This property may be overpriced.
Key pros and cons
Top Pros:
Permitted ADU: The property features a fully permitted 2-bedroom, 1-bath Accessory Dwelling Unit (ADU), providing significant value for rental income, multi-generational living, or private use.
Top Cons:
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 1580, other record living area = 1143. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 5, other record bedroom count = 3.
Compared to the nearby listings
Price:$750.0K vs avg $615.0K (+$135,000)76%
Size:1,580 sqft vs avg 1,635 sqft44%
Price/sqft:$475 vs avg $35292%
More Insights
Built in 1962 (64 years old).
Condition: Built in 1962, the main residence features dated kitchen and bathrooms, including painted white cabinets, laminate countertops, older appliances (except the refrigerator), and dated tile flooring and light fixtures. The built-in wooden closets are also very dated. While the main residence has some newer cosmetic updates like laminate flooring and fresh paint, its core areas show signs of being updated 15-30 years ago or are original. In contrast, the fully permitted ADU is extensively renovated with modern finishes, including new cabinets, butcher block countertops, subway tile backsplash, and a modern bathroom. The overall condition is a mix, but the significant datedness of the main residence's key areas brings the property's overall condition to 'Fair', indicating a need for minor updates or renovations in the main house to meet current quality standards.
Year Built
1962
Close
-
List price
$750K
Original List price
-
Price/Sqft
$475
HOA
$0
Days on market
-
Sold On
-
MLS number
V1-32323
Home ConditionFair
Features
Patio
View-
About this home
Excellent opportunity for investors seeking rental income or for families needing additional space. The property includes a total of 5 bedrooms and 3 full bathrooms, featuring a fully permitted 2-bedroom, 1-bath ADU--perfect for generating rental income, housing in-laws, or private use. The main residence offers 3 bedrooms, 2 full bathrooms, a laundry room, and a spacious living room. Outside, there is plenty of room for entertaining, gardening, or relaxing. The backyard is fully fenced and includes RV parking. With flexible living options and strong upside potential, this property is a smart choice for both investors and owner-occupants.
N
Nestor Ramirez
Listing Agent
Price History
Date
Event
Price
05/10/94
Sold
$118,000
07/10/18
Sold
$310,000
06/19/09
Sold
$165,000
08/31/05
Sold
$380,000
Condition Rating
Fair
Built in 1962, the main residence features dated kitchen and bathrooms, including painted white cabinets, laminate countertops, older appliances (except the refrigerator), and dated tile flooring and light fixtures. The built-in wooden closets are also very dated. While the main residence has some newer cosmetic updates like laminate flooring and fresh paint, its core areas show signs of being updated 15-30 years ago or are original. In contrast, the fully permitted ADU is extensively renovated with modern finishes, including new cabinets, butcher block countertops, subway tile backsplash, and a modern bathroom. The overall condition is a mix, but the significant datedness of the main residence's key areas brings the property's overall condition to 'Fair', indicating a need for minor updates or renovations in the main house to meet current quality standards.
Pros & Cons
Pros
Permitted ADU: The property features a fully permitted 2-bedroom, 1-bath Accessory Dwelling Unit (ADU), providing significant value for rental income, multi-generational living, or private use.
Income Generation Potential: With the dedicated ADU, the property offers excellent potential for generating rental income, making it an attractive option for investors.
Flexible Living Options: The combined main residence and ADU provide versatile living arrangements suitable for large families, multi-generational households, or owner-occupants seeking supplemental income.
Outdoor Amenities & RV Parking: The property boasts a spacious, fully fenced backyard ideal for entertaining and gardening, along with valuable RV parking capabilities.
No Homeowners Association (HOA) Fees: The absence of HOA fees provides financial savings and greater freedom from restrictive community regulations for the homeowner.
Cons
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 1580, other record living area = 1143. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 5, other record bedroom count = 3.
Age of Property: Built in 1962, the property is over 60 years old, which may imply a need for updates to major systems (plumbing, electrical, HVAC) or cosmetic renovations in the main residence.
Undisclosed Condition of Main Residence: While the ADU is highlighted, the description lacks specific details regarding the condition or recent updates of the main 3-bedroom, 2-bathroom house, potentially indicating areas requiring investment.
Potentially Compact Living Space: With 1580 sqft distributed across 5 bedrooms and 3 bathrooms (including the ADU), the individual living areas might feel somewhat constrained for larger families or those desiring more expansive rooms.