5924 Lewis Avenue, Long Beach, California 90805, Long Beach, 90805 - 3 bed, 2 bath
ACTIVE UNDER CONTRACT$585,000$1,176/sqft
Est. Value: $567,517
-2%
FairlyEstimate
5924 Lewis Avenue, Long Beach, California 90805
3Beds
2Baths
1,176Sqft
4,391Lot
Price Vs. Estimate
The estimated value ($567,517.44) is $17,482.56 (2%) lower than the list price ($585,000). This property may be overpriced.
Key pros and cons
Top Pros:
High Renovation Potential: The property is explicitly marketed as an 'Investor Opportunity' with 'strong potential for renovation and value enhancement,' appealing to those looking to customize and increase equity.
Top Cons:
Sold As-Is Condition: The 'as-is' sale stipulation indicates that the buyer assumes full responsibility for all necessary repairs and upgrades, potentially involving significant unforeseen costs.
Compared to the nearby listings
Price:$585.0K vs avg $726.0K ($-141,000)7%
Size:1,176 sqft vs avg 1,127.5 sqft59%
Price/sqft:$497 vs avg $64015%
More Insights
Built in 1939 (87 years old).
Condition: Built in 1939, this property is explicitly marketed as an 'Investor Opportunity' requiring a 'remodel project' and is being sold 'as-is' for 'cash offers only,' indicating significant deferred maintenance. The images confirm this, showing an extremely outdated kitchen with yellow cabinets, old countertops, and worn appliances. Both bathrooms feature very old, discolored tiles (yellow/green and pink), ancient fixtures, and visible wear, requiring complete renovation. Throughout the home, carpets are stained and worn, walls need fresh paint, and the exterior, including the detached garage, is in a dilapidated state. Major systems are likely original or very old, necessitating substantial repairs and rehabilitation.
Year Built
1939
Close
-
List price
$585K
Original List price
$585K
Price/Sqft
$497
HOA
-
Days on market
-
Sold On
-
MLS number
PW26003640
Home ConditionPoor
Features
Patio
View-
About this home
Investor Opportunity! This 3-bedroom, 1.75-bath property presents strong potential for renovation and value enhancement. Ideal for investors seeking a remodel project to restore and maximize the home’s full potential. Conveniently located with easy access to the 710, 91, and 405 freeways. Property is being sold as-is. Cash offers only. Do not miss this opportunity.
D
Don De Grote
Listing Agent
Condition Rating
Poor
Built in 1939, this property is explicitly marketed as an 'Investor Opportunity' requiring a 'remodel project' and is being sold 'as-is' for 'cash offers only,' indicating significant deferred maintenance. The images confirm this, showing an extremely outdated kitchen with yellow cabinets, old countertops, and worn appliances. Both bathrooms feature very old, discolored tiles (yellow/green and pink), ancient fixtures, and visible wear, requiring complete renovation. Throughout the home, carpets are stained and worn, walls need fresh paint, and the exterior, including the detached garage, is in a dilapidated state. Major systems are likely original or very old, necessitating substantial repairs and rehabilitation.
Pros & Cons
Pros
High Renovation Potential: The property is explicitly marketed as an 'Investor Opportunity' with 'strong potential for renovation and value enhancement,' appealing to those looking to customize and increase equity.
Strategic Freeway Access: Its location offers 'easy access to the 710, 91, and 405 freeways,' providing excellent connectivity for commuters and accessibility to surrounding areas.
Desirable Property Type: As a Single Family Residence in Long Beach, it holds inherent appeal for families or as a long-term rental investment.
Functional Layout: With 3 bedrooms and 1.75 bathrooms, the property offers a practical and sought-after configuration for various household sizes.
Established Neighborhood: Located in 'North Long Beach (NLB),' an established area within a major Southern California city, suggesting stable community and amenities.
Cons
Sold As-Is Condition: The 'as-is' sale stipulation indicates that the buyer assumes full responsibility for all necessary repairs and upgrades, potentially involving significant unforeseen costs.
Cash Offers Only: Restricting offers to 'cash only' significantly narrows the potential buyer pool, suggesting challenges with traditional financing due to the property's condition or other factors.
Extensive Renovation Required: Built in 1939, the property likely requires substantial modernization and system overhauls (e.g., plumbing, electrical, HVAC), demanding a considerable investment of time and capital.