465 N Serrano Avenue, Los Angeles, California 90004, Los Angeles, 90004 - 4 bed, 3 bath
ACTIVE$899,000
465 N Serrano Avenue, Los Angeles, California 90004
4Beds
3Baths
1,099Sqft
5,302Lot
Year Built
1912
Close
-
List price
$899K
Original List price
$899K
Price/Sqft
$818
HOA
-
Days on market
-
Sold On
-
MLS number
25530323
Home ConditionPoor
Features
View
About this home
Possibly Over-Priced:The estimated price is 20% below the list price. We found 3 Cons,5 Pros. Rank: price - $899.0K(18th), sqft - 1099(10th), beds - 4(56th), baths - 3(50th).
Great (3) Bedroom and (2.25) Bathrooms: Zoning R3: Main Home with additional bonus room with its own separate Kitchen/Bathroom and own entrance. Total of 4 Bedrooms, 3.25 Bathrooms. Excellent area to develop, multi-unit developments currently underway.
Condition Rating
Poor
Built in 1912, this property shows significant age and requires substantial repairs and rehabilitation. The images reveal dated kitchens with older cabinets, countertops, and appliances, along with bathrooms featuring original or very old fixtures and tiling (e.g., clawfoot tub, basic vanities). The overall aesthetic is far from modern, and the property analysis explicitly notes 'Age and Renovation Needs' and 'substantial investment in renovations, system upgrades, and addressing deferred maintenance.' While livable, it would be very uncomfortable by current standards and needs extensive work to bring it up to date.
Pros & Cons
Pros
R3 Zoning for Development: The property's R3 zoning presents significant potential for multi-unit development, aligning with ongoing projects in the area and offering substantial investment upside.
Versatile Bonus Unit: An additional bonus room with its own separate kitchen, bathroom, and entrance provides excellent flexibility for rental income, an Accessory Dwelling Unit (ADU), or multi-generational living.
Prime Mid-Wilshire Location: Located in the highly desirable Mid-Wilshire area of Los Angeles, offering strong market demand and convenient access to amenities, cultural centers, and transportation.
Historic Character: Built in 1912, the property likely retains architectural character and period details, appealing to buyers who appreciate historic charm.
High Demand Market: The area is experiencing active multi-unit developments, indicating a robust and high-demand market for both residential and investment properties.
Cons
Significant Price Discrepancy: The listing price of $899,000 is considerably higher than the estimated property value of $715,668, suggesting potential overpricing or a need for strong justification.
Age and Renovation Needs: As a 1912 build, the property is likely to require substantial investment in renovations, system upgrades, and addressing deferred maintenance.
Compact Interior Space: With 1099 sqft for 4 bedrooms and 3.25 bathrooms, the interior living space is quite compact, which may limit its appeal to buyers seeking more spacious accommodations.