4123 Chevy Chase Drive, Los Angeles, California 90039, Los Angeles, 90039 - 5 bed, 2 bath
ACTIVE$875,000$1,588/sqft
4123 Chevy Chase Drive, Los Angeles, California 90039
5Beds
2Baths
1,588Sqft
7,000Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Great Schools: Elementary School: Ivanhoe Elementary School (9/10).
Top Cons:
Strict Financing Requirements: The property requires an 'ALL CASH purchase' and will not qualify for FHA or conventional financing, severely limiting the potential buyer pool.
Compared to the nearby listings
Price:$875.0K vs avg $1.45M ($-575,000)6%
Size:1,588 sqft vs avg 1,600 sqft49%
Price/sqft:$551 vs avg $1.0K2%
More Insights
Built in 1923 (103 years old).
Condition: Built in 1923, this property is explicitly marketed as 'Land Value' and requires an 'ALL CASH purchase' due to its inability to qualify for standard financing. The listing details 'major electrical, plumbing and roof damages' and 'un permitted rooms and bathrooms,' indicating severe structural and systemic issues. The interior image of the kitchen shows a non-functional space with missing lower cabinets, damaged flooring, and no visible appliances, confirming the property is unlivable and beyond economical repair, aligning with the 'Tear-down' criteria.
Year Built
1923
Close
-
List price
$875K
Original List price
$600K
Price/Sqft
$551
HOA
-
Days on market
-
Sold On
-
MLS number
PW25022683
Home ConditionTear down
Features
Patio
View-
About this home
This property will not qualify for any FHA or conventional finance. Must be ALL CASH purchase . Seller will not perform any repairs. Land Value. Good opportunity for an experienced developer and/or investor. This property is a legal 5 bedroom / 2 bath with major electrical , plumbing and roof damages. The home has solar panels which must be paid off by the buyer prior to closing. The home has un permitted rooms and bathrooms. The property is being sold "AS IS" and is subject to short sale approval by three lenders. All interested parties are invited to submit all offers subject to interior inspection with proof of funds and, if applicable, proof of corporation. Do not Disturb Occupants , Please see remarks !
J
Joseph Fierro
Listing Agent
Nearby schools
5/10
Glenfeliz Boulevard Elementary School
Public,•K-6•0.8mi
6/10
Cerritos Elementary School
Public,•K-6•1.0mi
5/10
Columbus Elementary School
Public,•K-5•1.4mi
4/10
Atwater Avenue Elementary School
Public,•K-6•1.6mi
9/10
Ivanhoe Elementary School
Public,•K-5•1.7mi
4/10
Fletcher Drive Elementary School
Public,•K-6•1.9mi
8/10
Franklin Avenue Elementary School
Public,•K-6•2.2mi
8/10
Allesandro Elementary School
Public,•K-6•2.5mi
7/10
Balboa Elementary School
Public,•K-6•3.4mi
6/10
Theodore Roosevelt Middle School
Public,•6-8•0.8mi
6/10
Irving STEAM Magnet
Public,•6-8•1.9mi
7/10
Eleanor J. Toll Middle School
Public,•6-8•2.2mi
6/10
Thomas Starr King Middle School
Public,•6-8•2.7mi
8/10
John Marshall Senior High School
Public,•9-12•1.9mi
7/10
Herbert Hoover High School
Public,•9-12•2.2mi
6/10
Glendale High School
Public,•9-12•2.2mi
Price History
Date
Event
Price
05/06/97
Sold
$109,000
Condition Rating
Tear down
Built in 1923, this property is explicitly marketed as 'Land Value' and requires an 'ALL CASH purchase' due to its inability to qualify for standard financing. The listing details 'major electrical, plumbing and roof damages' and 'un permitted rooms and bathrooms,' indicating severe structural and systemic issues. The interior image of the kitchen shows a non-functional space with missing lower cabinets, damaged flooring, and no visible appliances, confirming the property is unlivable and beyond economical repair, aligning with the 'Tear-down' criteria.
Pros & Cons
Pros
Great Schools: Elementary School: Ivanhoe Elementary School (9/10).
Prime Los Angeles Location: Situated in Los Angeles, specifically the desirable Atwater area (MLS area 606), offering strong market demand and appreciation potential.
Significant Development Potential: Explicitly marketed as 'Land Value' and a 'good opportunity for an experienced developer and/or investor,' indicating high redevelopment upside.
Generous Lot Size: A substantial 7,000 sqft lot provides ample space for a new construction project or a significant expansion.
High Bedroom Count Foundation: Legally a 5-bedroom property, offering a strong basis for a large family residence or potential multi-unit development (subject to zoning).
Access to Highly-Rated Schools: Proximity to several well-regarded schools, including Ivanhoe Elementary (rating 9) and John Marshall Senior High (rating 8), enhances family appeal.
Cons
Strict Financing Requirements: The property requires an 'ALL CASH purchase' and will not qualify for FHA or conventional financing, severely limiting the potential buyer pool.
Extensive Structural & Permitting Issues: Suffers from 'major electrical, plumbing and roof damages' and contains 'un permitted rooms and bathrooms,' necessitating significant repair/rebuild costs and legal resolution.
Complex Transaction & Additional Buyer Costs: Sold 'AS IS,' subject to 'short sale approval by three lenders,' and requires the buyer to pay off solar panels, adding considerable risk, uncertainty, and financial burden.