5171 S Wilton Place, Los Angeles, California 90062, Los Angeles, 90062 - 4 bed, 2 bath

5171 S Wilton Place, Los Angeles, California 90062 home-pic-0
ACTIVE$799,000
5171 S Wilton Place, Los Angeles, California 90062
4Beds
2Baths
1,080Sqft
5,207Lot

Price Vs. Estimate

The estimated value ($518,266.755) is $280,733.245 (35%) lower than the list price ($799,000). This property may be overpriced.

Key pros and cons

Top Pros:
Extensive Modern Upgrades: The property has undergone significant recent renovations, including new electrical, plumbing, HVAC, recessed lighting, drywall, laminate flooring, and windows, offering a move-in ready experience with modern comforts.
Top Cons:
Significant Price Discrepancy: The current list price of $799,000 is considerably higher than the property's estimated value of $518,266, indicating a potential overvaluation that could deter buyers and prolong market time.

Compared to the nearby listings

Price:$799.0K vs avg $780.0K (+$19,000)51%
Size:1,080 sqft vs avg 1,281 sqft16%
Price/sqft:$740 vs avg $55892%

More Insights

Built in 1912 (113 years old).
Condition: Despite being built in 1912, this property has undergone an extensive and recent renovation, bringing all major systems and aesthetic components to a virtually new condition. The description highlights 'new electrical, plumbing, recessed lighting, drywall, laminate flooring, windows, and much more,' along with a functional HVAC system. The kitchen features 'custom natural oak cabinets, an island, quartz countertops, and brand new garbage disposal, microwave, stove and refrigerator.' Bathrooms are also updated with 'exquisite tile design, custom natural oak cabinets and matching brushed gold vanity and shower fixtures.' These comprehensive updates, including brand new appliances, indicate a renovation within the last 5 years, aligning perfectly with the 'excellent' criteria for a fully renovated property with no deferred maintenance and minimal physical depreciation.
Year Built
1912
Close
-
List price
$799K
Original List price
$840K
Price/Sqft
$740
HOA
-
Days on market
-
Sold On
-
MLS number
DW25067744
Home ConditionExcellent
Features
ViewCity Lights,Hills,Neighborhood

About this home

Welcome to this beautiful updated bungalow style home that sits on a tree lined street. The front of the home offers a gated entrance with an astro turf lawn paired with a freshly painted walkway and porch that is perfect to soak in the neighborhood views. Once you enter the home you are welcomed with original coffered ceilings, crown moldings, and wooden shutters throughout the kitchen and living room. This updated home is a blend of originality and contemporary living that offers 4 bedrooms, 2 bathrooms and a stackable laundry closet nook. The home flows seamlessly with an elegant updated kitchen that contains custom natural oak cabinets with an island, pantry, farmers sink, quartz countertops and brand new garbage disposal, microwave, stove and refrigerator. Each bedroom offers adequate space as well as custom shelving for all closets accompanied by sliding mirror doors and walk in style closets. The bathrooms are finished in an exquisite tile design accompanied by custom natural oak cabinets and matching brushed gold vanity and shower fixtures. This home is an absolute gem with a functional HVAC system and upgrades such as new electrical, plumbing, recessed lighting, drywall, laminate flooring, windows, washer dryer hookups, and much more! The backyard is very private with vinyl fencing, a brand new iron gate. There is also a freshly drywalled and painted detached storage that is accompanied with a fresh lawn and gravel parking area. The detached storage and accessible alley offers a great opportunity for an ADU and additional parking! Along with all the beautiful upgrades this home has to offer, this home also offers close proximity to USC, BMO Stadium, SoFi Stadium, the Forum, LAX, Leimert Park, West Adams, Santa Monica, Culver City, DTLA and much more! This home is located in a census tract that qualifies for a GRANT up to $20,000 and special financing through City National Bank. For qualifications and restrictions please contact a City National Bank loan officer.

Price History

Date
Event
Price
08/09/24
Sold
$640,000
07/17/24
Sold
$527,000
Condition Rating
Excellent

Despite being built in 1912, this property has undergone an extensive and recent renovation, bringing all major systems and aesthetic components to a virtually new condition. The description highlights 'new electrical, plumbing, recessed lighting, drywall, laminate flooring, windows, and much more,' along with a functional HVAC system. The kitchen features 'custom natural oak cabinets, an island, quartz countertops, and brand new garbage disposal, microwave, stove and refrigerator.' Bathrooms are also updated with 'exquisite tile design, custom natural oak cabinets and matching brushed gold vanity and shower fixtures.' These comprehensive updates, including brand new appliances, indicate a renovation within the last 5 years, aligning perfectly with the 'excellent' criteria for a fully renovated property with no deferred maintenance and minimal physical depreciation.
Pros & Cons

Pros

Extensive Modern Upgrades: The property has undergone significant recent renovations, including new electrical, plumbing, HVAC, recessed lighting, drywall, laminate flooring, and windows, offering a move-in ready experience with modern comforts.
Updated Kitchen & Bathrooms: Features an elegant, updated kitchen with custom natural oak cabinets, an island, quartz countertops, and brand new appliances, complemented by exquisitely tiled bathrooms with custom oak vanities and brushed gold fixtures.
ADU Potential & Additional Parking: The freshly drywalled and painted detached storage unit with accessible alley access presents a strong opportunity for conversion into an Accessory Dwelling Unit (ADU), providing potential rental income or additional living space, alongside ample gravel parking.
Desirable Location & Accessibility: Strategically located with close proximity to major attractions like USC, BMO Stadium, SoFi Stadium, LAX, and vibrant neighborhoods such as Leimert Park and West Adams, offering excellent convenience and lifestyle benefits.
Financial Incentives Available: The property is located in a census tract that qualifies for a grant up to $20,000 and special financing through City National Bank, making it an attractive option for eligible buyers.

Cons

Significant Price Discrepancy: The current list price of $799,000 is considerably higher than the property's estimated value of $518,266, indicating a potential overvaluation that could deter buyers and prolong market time.
Compact Interior Living Space: With 1080 square feet for 4 bedrooms, the property offers a relatively small interior footprint, which may be a constraint for larger families or those desiring more spacious living areas.
Age of Original Structure: Built in 1912, despite extensive updates, the underlying structure is over a century old, which could lead to unforeseen maintenance issues or concerns for some buyers regarding long-term structural integrity.

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