5832 Camerford Avenue, Los Angeles, California 90038, Los Angeles, 90038 - bed, bath
ACTIVE$3,599,000
5832 Camerford Avenue, Los Angeles, California 90038
0Bed
0Bath
2,076Sqft
6,502Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Prime Location: Situated in the highly sought-after Melrose area, just one block from vibrant Melrose Avenue, offering urban convenience and strong tenant demand.
Top Cons:
Advanced Age of Property: Built in 1911, the property is over a century old, likely requiring extensive renovations, structural updates, or complete redevelopment, incurring substantial costs.
Compared to the nearby listings
Price:$3.60M vs avg $1.30M (+$2,295,500)83%
Size:2,076 sqft vs avg 2,083.5 sqft50%
Price/sqft:$1.7K vs avg $63583%
More Insights
Built in 1911 (114 years old).
Condition: Built in 1911, this property is over a century old with no apparent major renovations in the past 50 years. The images reveal extremely dilapidated kitchens with worn, basic cabinetry, missing or very old appliances, and outdated flooring. Bathrooms are equally poor, featuring very old tiles, fixtures, and vanities. The overall interior and exterior show significant wear, peeling paint, and a general state of disrepair. The listing description and property analysis explicitly market it as an 'ideal opportunity for developers or investors' and mention 'extensive renovations, structural updates, or complete redevelopment,' strongly suggesting the value lies in the land and its potential for redevelopment rather than the existing structures, which are effectively unlivable by modern standards without complete overhaul or demolition.
Year Built
1911
Close
-
List price
$3.6M
Original List price
$3.6M
Price/Sqft
$1,734
HOA
-
Days on market
-
Sold On
-
MLS number
CV24229013
Home ConditionTear down
Features
Patio
View-
About this home
This unique property offers three units in the highly sought-after Melrose area of Los Angeles, presenting an ideal opportunity for developers or investors. Just one block from vibrant Melrose Avenue, this well-established neighborhood is experiencing rapid growth, making it a perfect time to invest. Take advantage of this rare chance to develop or expand in a location that combines urban convenience with neighborhood charm. Don’t miss out on this fantastic property with endless potential in one of LA’s most desirable areas!
Condition Rating
Tear down
Built in 1911, this property is over a century old with no apparent major renovations in the past 50 years. The images reveal extremely dilapidated kitchens with worn, basic cabinetry, missing or very old appliances, and outdated flooring. Bathrooms are equally poor, featuring very old tiles, fixtures, and vanities. The overall interior and exterior show significant wear, peeling paint, and a general state of disrepair. The listing description and property analysis explicitly market it as an 'ideal opportunity for developers or investors' and mention 'extensive renovations, structural updates, or complete redevelopment,' strongly suggesting the value lies in the land and its potential for redevelopment rather than the existing structures, which are effectively unlivable by modern standards without complete overhaul or demolition.
Pros & Cons
Pros
Prime Location: Situated in the highly sought-after Melrose area, just one block from vibrant Melrose Avenue, offering urban convenience and strong tenant demand.
Development/Investment Opportunity: Explicitly marketed as an ideal opportunity for developers or investors, highlighting its potential for expansion or redevelopment in a rapidly growing neighborhood.
Income-Generating Triplex: Features three units, providing immediate residential income potential or flexibility for various investment strategies.
Strong Market Growth: Located in a well-established neighborhood experiencing rapid growth, suggesting strong appreciation potential and a favorable investment climate.
Generous Lot Size: A 6,502 sqft lot in a desirable Los Angeles area offers significant space for potential expansion, additional units, or redevelopment, maximizing its value.
Cons
Advanced Age of Property: Built in 1911, the property is over a century old, likely requiring extensive renovations, structural updates, or complete redevelopment, incurring substantial costs.
High Entry Price Point: Listed at $3,599,000, this represents a significant capital outlay, potentially limiting the pool of interested buyers to well-capitalized developers or investors.
Potential for Extensive Renovation Costs: Given its age and the focus on 'development or expansion,' the existing structures likely require considerable investment for modernization, code compliance, or to maximize rental value, which is not explicitly detailed in the description.