6021 Romaine Street, California, Los Angeles, 90038 - 4 bed, 2 bath
6021 Romaine Street
California
Property Price
SUMMARY
Analysis of 6021 Romaine Street, California reveals a property with a current list price of $1,550,000, which is 8% above the estimated $1,419,394 Fair Market Value. Buyers should carefully evaluate the pricing and consider negotiation opportunities. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the California Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Estimated Market Value
Comparable Sales Map
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 | $939 | - |
A 1239 N Beachwood Drive Active | $1,490,000 List Price | 4 | 2 | 1,635 | $911 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
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flooring in living areas and bedrooms, and appears maintained, major components are functional but significantly outdated, requiring substantial cosmetic and potential system updates to meet current standards.
PROSSTRENGTHS & OPPORTUNITIES
- Income & Owner-User Potential
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.
- Development Opportunity
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.
- Prime Hollywood Location
Situated in the highly desirable Hollywood area, the property benefits from strong rental demand and appreciation potential.
CONSRISKS & DEFICIENCIES
- Potential Overpricing
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.
- Age of Property
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.
- Limited Bedroom Size
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.
About 6021 Romaine Street
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.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1915
- Lot Size
- 5,858 Sq. Ft.
Interior
- Total Bedrooms
- 4
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 71% |
| Baths | 2.0 | 3.5 | 29% |
| Square foot | 1,512 | 1,793 | 21% |
| Lot Size | 5,858 | 4,255.5 | 57% |
| Price | $1.55M | $1.24M | 64% |
| Price per sq ft | $1.0K | $696 | 86% |
| Built year | 1915 | 1968 | 7% |
| HOA | $0 | $0 | 50% |
| Days on market | 1192 | 188 | 0% |
Pricing History
No pricing history data available.