523 S Coronado Street, Los Angeles, California 90057, Los Angeles, 90057 - 3 bed, 2 bath
ACTIVE$1,145,000
523 S Coronado Street, Los Angeles, California 90057
3Beds
2Baths
1,645Sqft
5,994Lot
Price Vs. Estimate
The estimated value ($1,131,133.215) is $13,866.785 (1%) lower than the list price ($1,145,000). This property may be overpriced.
Key pros and cons
Top Pros:
Dual Income Potential: The property features two separate 2-bedroom, 1-bath houses on one lot, offering significant rental income or the flexibility for owner-occupancy with supplemental income from the second unit.
Top Cons:
Above Estimated Market Value: The current listing price of $1.145M is approximately 6% higher than the estimated property value of $1.073M, which could impact buyer interest and negotiation leverage.
Compared to the nearby listings
Price:$1.15M vs avg $1.01M (+$132,500)50%
Size:1,645 sqft vs avg 1,643.5 sqft50%
Price/sqft:$696 vs avg $67950%
More Insights
Built in 1920 (105 years old).
Condition: Built in 1920, this property has been well-maintained and features charming updates. The kitchen includes refurbished white cabinets, tile countertops, and patterned floor tiles, while bathrooms have been remodeled with new tile and bowl sinks. Original Douglas fir wood floors are refinished. However, the kitchen's tile countertops and older appliances, along with the presence of window/wall AC units instead of central air, suggest that the renovations are likely 15-30 years old rather than recent, and some major systems show signs of being outdated, aligning with a 'Fair' condition.
Year Built
1920
Close
-
List price
$1.15M
Original List price
$1.15M
Price/Sqft
$696
HOA
-
Days on market
-
Sold On
-
MLS number
25560449
Home ConditionFair
Features
Patio
View-
About this home
REDUCED $50,000. One of a kind! Two separate houses on a lot, both 2 bedroom 1 bath, with private entrance and parking for 3 cars each. Rare opportunity to own this charming cottage style property located between downtown, Koreatown, and Silverlake. This unique oasis in the middle of the city has a lush garden and has been meticulously remodeled and maintained, while keeping the old world charm of the original architecture. The remodeling done over the years include new or refurbished kitchen cabinets, tile countertops and floors, bathroom remodel with new tile, and bowl sink. The floors are refinished original douglas fir wood. The property is a turn key investment with little effort and cost to manage. The property is currently tenant occupied with well vetted tenants. There is also the possibility for owner occupancy, while renting out the other house for additional income. The property is very private and is unlike anything you will find in the city. Please see attached documents for additional details about each house. ***DO NOT DISTURB TENANTS*** REAR HOUSE CAN BE DELIVERED VACANT BUT IS CURRENTLY BEING ADVERTISED FOR RENT AND THIS MAY CHANGE***
Nearby schools
/10
Lafayette Park Primary Center
Public,•K•0.2mi
3/10
Charles White Elementary School
Public,•1-5•0.3mi
3/10
Macarthur Park Elementary School For The Visual And Performing Arts
Public,•K-5•0.4mi
8/10
Hoover Street Elementary School
Public,•K-5•0.6mi
/10
Lake Street Primary School
Public,•K-1•0.6mi
2/10
Esperanza Elementary School
Public,•K-5•0.7mi
5/10
Union Avenue Elementary School
Public,•K-5•0.7mi
5/10
Rosemont Avenue Elementary School
Public,•K-5•0.8mi
5/10
Commonwealth Avenue Elementary School
Public,•K-5•0.9mi
7/10
Dr. Sammy Lee Medical And Health Science Magnet Elementary
Public,•K-5•0.9mi
3/10
Leo Politi Elementary School
Public,•K-5•1.0mi
3/10
Gratts Learning Academy For Young Scholars (Glays)
Public,•K-6•1.1mi
3/10
Rfk Community Schools - Ambassador School - Global Education
Public,•K-5•1.1mi
2/10
Tenth Street Elementary School
Public,•K-5•1.1mi
4/10
Betty Plasencia Elementary School
Public,•K-6•1.3mi
6/10
Castelar Street Elementary School
Public,•K-5•2.2mi
3/10
John H. Liechty Middle School
Public,•6-8•0.8mi
3/10
Sal Castro Middle School
Public,•6-8•1.0mi
5/10
Virgil Middle School
Public,•6-8•1.0mi
3/10
Berendo Middle School
Public,•6-8•1.2mi
6/10
Thomas Starr King Middle School
Public,•6-8•2.2mi
3/10
Rfk Community Schools-Ambassador-Global Leadership
Public,•6-12•0.9mi
4/10
Rfk Community Schools-Los Angeles High School Of The Arts
Public,•9-12•0.9mi
5/10
Rfk Community Schools- For The Visual Arts And Humanities
Public,•9-12•0.9mi
3/10
Belmont Senior High School
Public,•9-12•1.0mi
8/10
John Marshall Senior High School
Public,•9-12•3.1mi
Price History
Date
Event
Price
12/24/03
Sold
$343,500
Condition Rating
Fair
Built in 1920, this property has been well-maintained and features charming updates. The kitchen includes refurbished white cabinets, tile countertops, and patterned floor tiles, while bathrooms have been remodeled with new tile and bowl sinks. Original Douglas fir wood floors are refinished. However, the kitchen's tile countertops and older appliances, along with the presence of window/wall AC units instead of central air, suggest that the renovations are likely 15-30 years old rather than recent, and some major systems show signs of being outdated, aligning with a 'Fair' condition.
Pros & Cons
Pros
Dual Income Potential: The property features two separate 2-bedroom, 1-bath houses on one lot, offering significant rental income or the flexibility for owner-occupancy with supplemental income from the second unit.
Prime Urban Location: Strategically situated between Downtown, Koreatown, and Silverlake, providing excellent access to diverse amenities, entertainment, and strong rental demand in a highly desirable Los Angeles area.
Charming & Maintained Architecture: Meticulously remodeled and maintained, the property preserves its original 1920s cottage-style charm with updated kitchens, bathrooms, and refinished original Douglas fir wood floors.
Ample Private Parking: Each unit benefits from a private entrance and parking for 3 cars, a rare and highly valuable amenity in a dense urban environment like Los Angeles.
Turnkey Investment: Described as a 'turn key investment with little effort and cost to manage,' currently tenant-occupied with well-vetted tenants, suggesting immediate and stable cash flow.
Cons
Above Estimated Market Value: The current listing price of $1.145M is approximately 6% higher than the estimated property value of $1.073M, which could impact buyer interest and negotiation leverage.
Tenant Occupancy & Access Limitations: The 'Do Not Disturb Tenants' directive and uncertainty regarding vacant possession for the rear unit can complicate showings, inspections, and potential buyer occupancy plans.
Age of Property: Built in 1920, while charming, the property's age may imply potential for unseen maintenance issues or require future updates to major systems (e.g., plumbing, electrical, HVAC) not explicitly mentioned as fully modernized.