4850 Heleo Avenue, Temple City, California 91780, Temple City, 91780 - 6 bed, 4 bath
ACTIVE$1,828,000
4850 Heleo Avenue, Temple City, California 91780
6Beds
4Baths
2,647Sqft
20,460Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Significant Development Potential: The expansive 20,460 sq. ft. lot is explicitly highlighted for its 'opportunity for development of multiple dwellings,' making it ideal for investors or developers.
Top Cons:
As-Is Condition & Land Value Focus: The property is sold 'As Is' and emphasized as 'Land Value,' indicating that the existing structures may require substantial renovation or are considered tear-downs, adding significant cost for a buyer.
Compared to the nearby listings
Price:$1.83M vs avg $1.49M (+$343,000)70%
Size:2,647 sqft vs avg 2,371 sqft70%
Price/sqft:$691 vs avg $58480%
More Insights
Built in 1961 (64 years old).
Condition: Built in 1961, this property is explicitly marketed as being sold in its 'As Is' condition with an emphasis on 'Land Value' and 'opportunity for development of multiple dwellings.' This indicates that the value is primarily in the land for redevelopment, not the existing structures. While tenant-occupied, the lack of interior photos and the 'Land Value' designation strongly suggest the existing homes are considered to be at the end of their economic life and are expected to be demolished by a new owner, aligning perfectly with the 'tear-down' criteria where the property's value is based solely on the land and its potential for redevelopment.
Year Built
1961
Close
-
List price
$1.83M
Original List price
$1.83M
Price/Sqft
$691
HOA
-
Days on market
-
Sold On
-
MLS number
AR25137625
Home ConditionTear down
Features
Good View: Mountain(s), Neighborhood
ViewMountain(s), Neighborhood
About this home
Two separate homes on a large 20,460 sq. ft. lot, provides opportunity for development of multiple dwellings. Property is sold in it's present "As Is" condition -Land Value. Properties are currently tenant occupied. Front house at 4850 Heleo is approximately 1,073 sq. ft. with 3 bedrooms and 1 bath. This home has a detached garage, private rear yard and separate driveway. The back house at 4846 Heleo is approx. 1,574 sq. ft., with 3 bedrooms and 3 baths. This home has a fireplace in the living room and central air. It also features a detached garage and a private driveway with gated entrance. The yard will accommodate RV parking and numerous vehicles. Desirable location within close proximity to schools, shopping, dining and public transportation. This is a one-of-a-kind property with tremendous opportunity!
Condition Rating
Tear down
Built in 1961, this property is explicitly marketed as being sold in its 'As Is' condition with an emphasis on 'Land Value' and 'opportunity for development of multiple dwellings.' This indicates that the value is primarily in the land for redevelopment, not the existing structures. While tenant-occupied, the lack of interior photos and the 'Land Value' designation strongly suggest the existing homes are considered to be at the end of their economic life and are expected to be demolished by a new owner, aligning perfectly with the 'tear-down' criteria where the property's value is based solely on the land and its potential for redevelopment.
Pros & Cons
Pros
Significant Development Potential: The expansive 20,460 sq. ft. lot is explicitly highlighted for its 'opportunity for development of multiple dwellings,' making it ideal for investors or developers.
Income-Generating Duplex: Featuring two separate, tenant-occupied homes, the property offers immediate rental income and flexibility for multi-generational living or continued investment.
Large & Versatile Lot: The substantial 20,460 sq. ft. lot provides ample space for privacy, potential expansion, RV parking, and numerous vehicles, a rare find in the area.
Prime Location: Situated in a desirable Temple City neighborhood, the property boasts close proximity to schools, shopping, dining, and public transportation, enhancing its long-term value.
Dual Dwelling Configuration: The presence of two distinct homes (3 bed/1 bath and 3 bed/3 bath) offers unique versatility for various living arrangements or maximizing rental income streams.
Cons
As-Is Condition & Land Value Focus: The property is sold 'As Is' and emphasized as 'Land Value,' indicating that the existing structures may require substantial renovation or are considered tear-downs, adding significant cost for a buyer.
Tenant Occupancy Challenges: Being tenant-occupied, the property may present challenges for immediate buyer occupancy, extensive showings, or redevelopment plans due to potential eviction processes.
Age of Structures: Built in 1961, the existing homes are older, suggesting potential for deferred maintenance, outdated systems, and the need for significant capital investment for modernization or redevelopment.