5038 W Avenue L10, Quartz Hill, California 93536, Quartz Hill, 93536 - 3 bed, 2 bath
ACTIVE$595,000$1,366/sqft
Est. Value: $479,039
-19%
AboveEstimate
5038 W Avenue L10, Quartz Hill, California 93536
3Beds
2Baths
1,366Sqft
17,439Lot
Price Vs. Estimate
The estimated value ($479,038.75) is $115,961.25 (19%) lower than the list price ($595,000). This property may be overpriced.
Key pros and cons
Top Pros:
Approved Development Plans: Plans for 12 units have been approved by the LAC planning department, significantly de-risking and accelerating the multi-family development process.
Top Cons:
Listing Price Discrepancy: The current listing price is significantly above the estimated value for the existing single-family home, requiring buyers to fully account for the development potential in their valuation.
Compared to the nearby listings
Price:$595.0K vs avg $550.2K (+$44,750)69%
Size:1,366 sqft vs avg 2,131 sqft10%
Price/sqft:$436 vs avg $26399%
More Insights
Built in 1957 (69 years old).
Condition: The property, built in 1957, is aged but appears maintained. The kitchen features older light wood cabinets and tile flooring, though it includes functional stainless steel appliances. The living areas have dated large square tiles, exposed wood beams, and a painted stone fireplace. While clean and livable, the overall aesthetic and components suggest renovations that are likely 15-30 years old, or minimal updates since original construction, requiring minor updates to meet current styles and preferences. No bathroom images were provided, but based on the rest of the interior, they are likely similarly dated.
Year Built
1957
Close
-
List price
$595K
Original List price
$595K
Price/Sqft
$436
HOA
-
Days on market
-
Sold On
-
MLS number
SR25180399
Home ConditionFair
Features
Patio
ViewNeighborhood
About this home
Exceptional INVESTOR OPPORTUNITY to acquire a well-situated LCR3-zoned property in Quartz Hill. Plans for 12 units have been approved by LAC planning department (8 per zone plus 4 affordable units). Currently improved with a single-family home, the property provides rental income potential while you plan your build. Located in a sought-after neighborhood with strong rental demand, close to major transit, shopping, dining, and employment hubs. Whether you’re a seasoned developer or an investor seeking value-add potential, this property is ready for your vision.
Y
Yuliya Gayevska
Listing Agent
Condition Rating
Fair
The property, built in 1957, is aged but appears maintained. The kitchen features older light wood cabinets and tile flooring, though it includes functional stainless steel appliances. The living areas have dated large square tiles, exposed wood beams, and a painted stone fireplace. While clean and livable, the overall aesthetic and components suggest renovations that are likely 15-30 years old, or minimal updates since original construction, requiring minor updates to meet current styles and preferences. No bathroom images were provided, but based on the rest of the interior, they are likely similarly dated.
Pros & Cons
Pros
Approved Development Plans: Plans for 12 units have been approved by the LAC planning department, significantly de-risking and accelerating the multi-family development process.
High-Density Zoning: The property benefits from LCR3 zoning, allowing for high-density multi-family development and maximizing the land's potential.
Immediate Rental Income: The existing single-family home offers immediate rental income, providing cash flow during the planning and pre-development phases.
Strategic Location: Situated close to major transit, shopping, dining, and employment hubs, making it highly attractive to prospective tenants for the future units.
Strong Market Demand: Located in a sought-after neighborhood with strong rental demand, ensuring a robust market for the planned 12 units.
Cons
Listing Price Discrepancy: The current listing price is significantly above the estimated value for the existing single-family home, requiring buyers to fully account for the development potential in their valuation.
Age of Existing Structure: The 1957-built single-family home is older, suggesting potential for significant demolition costs or extensive renovation if incorporated into the new development.
Development Project Complexity: Despite approved plans, the execution of a 12-unit development project entails substantial capital investment, project management, and time, which may be a barrier for some investors.