6021 Romaine Street, California, Los Angeles, 90038 - 4 bed, 2 bath
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California
This High-Potential Income & Development Asset is listed at $1,550,000, aligning closely with its $1,531,868 Fair Market Value. Featuring LAR3 Zoning on a nearly 6,000 sq ft lot, the property offers significant upside through densification or a full restoration of the two detached units. While currently holding a Condition Rating of 4, the vacant status and Hollywood location ensure high rental demand and immediate project readiness. This versatile duplex represents a strategic acquisition for Value-Add Investors or Developers looking to capitalize on prime Los Angeles real estate.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 6021 Romaine Street Subject | $1,550,000* List Price | 4 | 2 | 1,512 | $1,013 | - |
A 716 N June Street Sold | $1,800,000 | 3 | 3 | 1,786 | $1,008 | 0.7 mi |
B 6603 Willoughby Avenue Sold | $1,150,000 | 3 | 2 | 1,366 | $842 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1915, this property shows its age despite being 'ready to move in.' The kitchen features dated dark wood cabinets, laminate countertops, older white appliances, and linoleum flooring, suggesting a renovation from 20-30 years ago. The bathroom also appears dated with a basic vanity, older light fixtures, and a fiberglass tub insert. While the property has hardwood/laminate flooring in living areas and bedrooms, and appears maintained, major components are functional but significantly outdated, requiring substantial cosmetic and potential system updates to meet current standards.
This property is a duplex with two detached units, fully vacant and ready for immediate occupancy, offering excellent income generation potential or flexibility for an owner-user.
The LAR3 zoning on an almost 6,000 sq ft lot presents significant development opportunities for investors or developers looking to maximize the property's potential.
Situated in the highly desirable Hollywood area, the property benefits from strong rental demand and appreciation potential.
The current list price of $1,550,000 is 8% above the property's estimated value of $1,419,394.75, and it has already seen a significant price reduction from its original $1,800,000, suggesting it may still be priced above market expectations.
Built in 1915, the property is over a century old, which could imply the need for updates to plumbing, electrical, or other major systems, potentially incurring significant future expenses.
The description mentions 'cozy' bedrooms, which may indicate smaller room dimensions that could be a drawback for some buyers or tenants seeking more spacious living accommodations.
An opportunity awaits in Hollywood......featuring this stunning duplex. The LAR3 zoned duplex gives an owner user, investor, or developer an opportunity to build. The almost 6,000 sq foot lot gives many options to the buyer. This property can generate income in a desirable area. The duplex is 2 detached units on one lot. The property is ready to move in and is fully vacate. The duplex has hardwood floors throughout the home. There is an abundance of outdoor space. Each unit consists of 2 cozy bed rooms & 1 full bathroom. There is minimal landscaping and averages low maintenance cost.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 3.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,512 | 1,672 |
| Lot Size | 5,858 | 6,067 |
| Price | $1.55M | $1.37M |
| Price per sq ft | $1.0K | $801 |
| Built year | 1915 | 1939 |
| HOA | $0 | $348 |
| Days on market | 1330 | 56 |
No pricing history data available.