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5524 Spokane Street, Los Angeles, California 90016, Los Angeles, 90016 - 5 bed, 4 bath

5524 Spokane Street, Los Angeles, California 90016 home-pic-0
ACTIVE$1,688,000
5524 Spokane Street, Los Angeles, California 90016
5Beds
4Baths
2,600Sqft
5,484Lot
Year Built
1944
Close
-
List price
$1.69M
Original List price
$1.69M
Price/Sqft
$649
HOA
-
Days on market
-
Sold On
-
MLS number
WS25098709
Home ConditionExcellent
Features
Patio
View

About this home

Possibly Over-Priced:The estimated price is 32% below the list price. We found 3 Cons,5 Pros. Rank: price - $1.69M(99th), sqft - 2600(96th), beds - 5(90th), baths - 4(87th).

Opportunity! Opportunity! Opportunity! Mid-City West Adams, Culver City. Beverly hills just 5 mins and W Hollywood. Muilti Units, main house plus 2 ADUs. Main house is new upgraded in 2020, New Wire, pipes, insulation, dry wall, roofing, kitchen, bathrooms. all new. Both 2 ADUs are renting. the detached ADU has 2 bedrooms with full kitchen and full shower. The attached ADU is one bedroom with full kitchen and full bath. All ADU has it own 2 parking spaces. Main house is 3 bedrooms, 2 bathrooms, driveway parking. Great for investment, You can live in main house, has both ADU rent out to pay your mortgage. Great for mother in low or great for grow up kids living in the back of your house.

Nearby schools

6/10
Baldwin Hills Elementary School
Public,•K-5•0.4mi
6/10
Marvin Elementary School
Public,•K-5•0.5mi
5/10
Cienega Elementary School
Public,•K-5•0.9mi
5/10
Virginia Road Elementary School
Public,•K-5•1.6mi
4/10
Alta Loma Elementary School
Public,•K-5•1.9mi
3/10
Sixth Avenue Elementary School
Public,•K-5•2.5mi
3/10
Arlington Heights Elementary School
Public,•K-5•2.6mi
2/10
Audubon Middle School
Public,•6-8•2.5mi
3/10
Johnnie Cochran, Jr., Middle School
Public,•6-8•2.5mi
3/10
Daniel Webster Middle School
Public,•6-8•3.9mi
2/10
Susan Miller Dorsey Senior High School
Public,•9-12•1.2mi
6/10
Alexander Hamilton Senior High School
Public,•9-12•1.4mi

Price History

Date
Event
Price
01/25/19
Sold
$693,000
Condition Rating
Excellent
The main house was extensively renovated in 2020, including new wiring, pipes, insulation, drywall, roofing, kitchen, and bathrooms, making its core components virtually new. The images confirm modern kitchens with white shaker cabinets, stainless steel appliances, and light countertops, along with contemporary flooring and recessed lighting throughout. The ADUs also appear to be in excellent, recently updated condition with modern finishes and mini-split AC units.
Pros & Cons

Pros

Exceptional Income Potential: The property features a main house plus two income-generating ADUs (one 2-bedroom, one 1-bedroom), both currently rented, offering significant cash flow or mortgage offset opportunities.
Extensive Recent Main House Renovation: The main house underwent a comprehensive upgrade in 2020, including new wiring, pipes, insulation, drywall, roofing, kitchen, and bathrooms, minimizing immediate maintenance for the primary residence.
Strategic Central Location: Situated in Mid-City West Adams, with close proximity (5 mins) to Beverly Hills and West Hollywood, providing excellent access to major employment centers, entertainment, and amenities.
Flexible Living Arrangements: The multi-unit setup is ideal for various needs, including investment, owner-occupancy with rental income, or multi-generational living.
Dedicated ADU Parking: Each ADU benefits from its own two dedicated parking spaces, a highly desirable and practical feature in a dense urban environment like Los Angeles.

Cons

Significant Price-to-Estimate Discrepancy: The current listing price is considerably higher than the property's estimated value, suggesting a potential overvaluation that may require strong market justification or negotiation.
Unspecified ADU Upgrade Status: While the main house is newly upgraded, the description lacks specific details regarding the recency or extent of renovations for the two ADUs, potentially implying older systems or finishes in those units.
Mixed Public School Ratings: The local school district includes middle and high schools with lower performance ratings, which could be a concern for buyers prioritizing highly-rated public education options.

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