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4526 St Elmo Drive, Los Angeles, California 90019, Los Angeles, 90019 - 5 bed, 4 bath

4526 St Elmo Drive, Los Angeles, California 90019 home-pic-0
ACTIVE$1,459,000
4526 St Elmo Drive, Los Angeles, California 90019
5Beds
4Baths
3,620Sqft
7,004Lot
Year Built
1938
Close
-
List price
$1.46M
Original List price
$1.53M
Price/Sqft
$403
HOA
-
Days on market
-
Sold On
-
MLS number
25488177
Home ConditionGood
Features
Patio
View-

About this home

Possibly Over-Priced:The estimated price is 36% below the list price. We found 3 Cons,5 Pros. Rank: price - $1.46M(57th), sqft - 3620(95th), beds - 5(91th), baths - 4(77th).

If you are looking for a home plus income, come and see 4526 St. Elmo Dr. This exceptional property offers a fabulous 3Bd/2Ba remodeled two-story home and 2 additional 1-bedroom units. The remodeled home has lots of old-world charm, wood floors, new windows, new HVAC system, formal dining room, and remodeled kitchen and baths. There are two attached additional one-bedroom units that are large, bright, and spacious each with their own charm, wood floors, spacious kitchens and in-unit W/D hookups. Two unit is currently leased. Lot. 7,004 SF, with a total living space of approx. 3,620 SF. Lots of upgrades, including electrical and roof. Don't miss out on this exceptional owner-user or investment property. All Three Garages are vacant, allowing for a possible ADU opportunity (check with city). Schedule your tour today!

Condition Rating
Good
The main 3-bedroom unit features a recently remodeled kitchen with modern white shaker cabinets, stainless steel appliances, and subway tile backsplash, along with updated bathrooms. The property also benefits from new windows, a new HVAC system, and upgraded electrical and roof. Hardwood floors are present throughout. While the two additional 1-bedroom units are clean and well-maintained with hardwood floors, their kitchens and bathrooms exhibit an older style with wood cabinets, white appliances, and dated fixtures, preventing an 'Excellent' rating. However, the significant recent upgrades to the main dwelling and major systems ensure the property is move-in ready and in good overall condition.
Pros & Cons

Pros

Strong Income-Generating Potential: The property includes a main 3Bd/2Ba home and two additional 1-bedroom units, with two units currently leased, offering immediate rental income for investors or owner-users.
Extensive Modern Upgrades: The main home and overall property have received significant updates, including a new HVAC system, new windows, remodeled kitchen and baths, and electrical/roof upgrades, minimizing immediate buyer expenses.
Valuable ADU Conversion Opportunity: The three vacant garages present a clear potential for conversion into additional dwelling units (ADUs), significantly increasing property value and future income streams.
Charming & Well-Maintained Main Residence: The primary 3Bd/2Ba home boasts old-world charm, wood floors, and a formal dining room, appealing to owner-occupants seeking character and comfort.
Desirable Rental Units: The two 1-bedroom units are described as large, bright, and spacious, featuring wood floors, spacious kitchens, and in-unit W/D hookups, making them attractive to tenants.

Cons

Significant Valuation Discrepancy: The current listing price is considerably higher than the automated property estimation, which could indicate an aggressive pricing strategy or potential overvaluation compared to market benchmarks.
ADU Potential Requires Buyer Due Diligence: While ADU conversion is possible, the need to 'check with city' implies that the process is not pre-approved and requires the buyer to undertake research and navigate city regulations, adding uncertainty and effort.
Age-Related Maintenance Considerations: Despite recent upgrades, the property's 1938 construction date suggests a potential for underlying issues or ongoing maintenance typical of older homes, which may not be immediately apparent.

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