542 Short Street, Inglewood, California 90302, Inglewood, 90302 - 3 bed, 1 bath
ACTIVE$1,019,000
542 Short Street, Inglewood, California 90302
3Beds
1Bath
1,261Sqft
6,062Lot
Price Vs. Estimate
The estimated value ($753,862.63) is $265,137.37 (26%) lower than the list price ($1,019,000). This property may be overpriced.
Key pros and cons
Top Pros:
R-3 Zoning: The property's R-3 zoning is a significant advantage for developers and investors, allowing for multi-family residential development and increased density.
Top Cons:
Significant Overpricing: The listing price of $1,019,000 is 26% higher than the estimated property value of $753,862.63, suggesting it may be overpriced based on current market valuations for the existing structure.
Compared to the nearby listings
Price:$1.02M vs avg $840.0K (+$179,000)60%
Size:1,261 sqft vs avg 1,248 sqft53%
Price/sqft:$808 vs avg $77353%
More Insights
Built in 1927 (98 years old).
Condition: Built in 1927, this property is nearly 100 years old. The listing explicitly markets it as a 'Development site' for 'DEVELOPERS AND INVESTORS' with R-3 zoning, indicating its value lies in the land for redevelopment rather than the existing structure. The images confirm severe disrepair, including peeling paint, heavily worn floors, outdated and likely non-functional kitchen/utility areas with exposed wiring, and general neglect. The property appears unlivable in its current condition and would require demolition for its highest and best use.
Year Built
1927
Close
-
List price
$1.02M
Original List price
$1.02M
Price/Sqft
$808
HOA
-
Days on market
-
Sold On
-
MLS number
25522179
Home ConditionTear down
Features
View-
About this home
DEVELOPERS AND INVESTORS !!! Location, location, Location .Development site . Zoning R-3 . It might Get approved for SB8 Clearance . Close to LAX .
Price History
Date
Event
Price
06/25/01
Sold
$225,000
Condition Rating
Tear down
Built in 1927, this property is nearly 100 years old. The listing explicitly markets it as a 'Development site' for 'DEVELOPERS AND INVESTORS' with R-3 zoning, indicating its value lies in the land for redevelopment rather than the existing structure. The images confirm severe disrepair, including peeling paint, heavily worn floors, outdated and likely non-functional kitchen/utility areas with exposed wiring, and general neglect. The property appears unlivable in its current condition and would require demolition for its highest and best use.
Pros & Cons
Pros
R-3 Zoning: The property's R-3 zoning is a significant advantage for developers and investors, allowing for multi-family residential development and increased density.
Prime Location: Highlighted as 'Location, location, Location' and 'Close to LAX', indicating high demand, strong rental potential, and excellent accessibility.
Development Opportunity: Explicitly marketed as a 'Development site' for 'DEVELOPERS AND INVESTORS', signaling its highest and best use is likely redevelopment.
SB8 Clearance Potential: The possibility of 'SB8 Clearance' suggests a streamlined approval process for certain housing projects, which can significantly reduce development timelines and risks.
Generous Lot Size: A substantial lot size of 6062 sqft provides ample space for a multi-unit development under R-3 zoning in an urban environment.
Cons
Significant Overpricing: The listing price of $1,019,000 is 26% higher than the estimated property value of $753,862.63, suggesting it may be overpriced based on current market valuations for the existing structure.
Age and Condition of Existing Structure: Built in 1927, the existing 3-bed, 1-bath, 1261 sqft home is likely outdated and would require substantial renovation or demolition, adding significant costs to any development project.
Limited Single-Family Appeal: Due to its age, modest size, and single bathroom, the property has limited appeal as a move-in ready single-family home, narrowing its market to primarily developers and investors.