420 W Palm Avenue, Monrovia, California 91016, Monrovia, 91016 - 2 bed, 1 bath
ACTIVE UNDER CONTRACT$799,000
420 W Palm Avenue, Monrovia, California 91016
2Beds
1Bath
920Sqft
8,041Lot
Price Vs. Estimate
The estimated value ($772,609.605) is $26,390.395 (3%) lower than the list price ($799,000). This property may be overpriced.
Key pros and cons
Top Pros:
Desirable Location: Located in a highly sought-after area of North Monrovia.
Top Cons:
Fixer-Upper: The property is a fixer, requiring significant renovation and investment to bring it up to modern standards.
Compared to the nearby listings
Price:$799.0K vs avg $999.0K ($-200,000)8%
Size:920 sqft vs avg 1,495.5 sqft9%
Price/sqft:$868 vs avg $72480%
More Insights
Built in 1939 (86 years old).
Condition: The property, built in 1939, is described as a 'fixer' and a 'blank canvas,' indicating it requires substantial repairs and updates. The listing explicitly states it may not qualify for traditional financing, suggesting significant issues. The images confirm the need for extensive renovations, particularly in the kitchen and bathroom, which appear outdated and worn. Given the age and condition, a 'poor' rating is appropriate.
Year Built
1939
Close
-
List price
$799K
Original List price
$799K
Price/Sqft
$868
HOA
-
Days on market
-
Sold On
-
MLS number
CV25015780
Home ConditionPoor
Features
Good View: Mountain(s)
ViewMountain(s)
About this home
Fixer located in a desirable area of North Monrovia. First time on the market in over 40 years. A blank canvas ready for finishing touches featuring 2 bedroom 1 bath on a large lot with the possibility of adding a ADU with private alley access. Please note that this property will not qualify for traditional financing and all cash might be necessary.
Condition Rating
Poor
The property, built in 1939, is described as a 'fixer' and a 'blank canvas,' indicating it requires substantial repairs and updates. The listing explicitly states it may not qualify for traditional financing, suggesting significant issues. The images confirm the need for extensive renovations, particularly in the kitchen and bathroom, which appear outdated and worn. Given the age and condition, a 'poor' rating is appropriate.
Pros & Cons
Pros
Desirable Location: Located in a highly sought-after area of North Monrovia.
Large Lot with ADU Potential: The property features a large lot with potential for adding an Accessory Dwelling Unit (ADU) with private alley access, increasing its value and versatility.
Blank Canvas: Presents a unique opportunity for buyers to customize and renovate according to their preferences.
Cons
Fixer-Upper: The property is a fixer, requiring significant renovation and investment to bring it up to modern standards.
Financing Limitations: The property may not qualify for traditional financing, potentially limiting the pool of buyers to those with cash or alternative financing options.