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623 E 116th St, Los Angeles, California 90059, Los Angeles, 90059 - 3 bed, 2 bath

623 E 116th St, Los Angeles, California 90059 home-pic-0
ACTIVE$699,999
623 E 116th St, Los Angeles, California 90059
3Beds
2Baths
1,034Sqft
5,682Lot

Price Vs. Estimate

The estimated value ($642,165.61) is $57,833.39 (8%) lower than the list price ($699,999). This property may be overpriced.

Key pros and cons

Top Pros:
Complete Renovation: The property has undergone a complete renovation, including new electrical and plumbing systems, offering modern comfort and peace of mind.
Top Cons:
Previous Buyer Financing Issues: The property is back on the market due to a previous buyer's inability to secure financing, which may raise concerns for some potential buyers.

Compared to the nearby listings

Price:$700.0K vs avg $615.0K (+$84,999)85%
Size:1,034 sqft vs avg 1,164 sqft42%
Price/sqft:$677 vs avg $51985%

More Insights

Built in 1946 (79 years old).
Condition: The property, built in 1946, has been fully renovated. The listing description mentions new electrical and plumbing systems, upgraded insulation, and new central A/C. The images show a modern kitchen with sleek cabinetry and countertops, and updated bathrooms with stylish finishes. The flooring and light fixtures appear new. While the original structure is older, the extensive renovation brings it to a 'good' condition, move-in ready with no immediate renovation required.
Year Built
1946
Close
-
List price
$700K
Original List price
$700K
Price/Sqft
$677
HOA
-
Days on market
-
Sold On
-
MLS number
41091472
Home ConditionGood
Features
View-

About this home

Back on Market! Buyer Couldn’t Secure Financing – Their Loss, Your Gain! Stunning Fully Renovated 3-Bedroom Home with ADU Potential This beautifully renovated 3-bedroom, 2-bathroom home is back on the market after the previous buyer was unable to secure financing. Here’s your second chance to own this move-in ready gem! Enjoy a complete renovation throughout, featuring: • Brand-new electrical and plumbing systems • Upgraded insulation for improved energy efficiency • New central A/C for year-round comfort • Bright, open-concept living space that flows into a modern kitchen with sleek cabinetry and elegant countertops • Two fully updated bathrooms with stylish, high-end finishes Additional highlights: • 550 sq. ft. detached garage—perfect for conversion into an in-law suite or studio • Expansive lot with ADU potential (with proper permits) for extra living space or rental income Located in a desirable Los Angeles neighborhood, close to schools, shopping, and major freeways, this property offers modern comfort and future investment opportunities all in one. Don’t miss out—schedule a showing today!

Price History

Date
Event
Price
08/28/25
Sold
$3,579,363
01/16/25
Sold
$400,000
Condition Rating
Good
The property, built in 1946, has been fully renovated. The listing description mentions new electrical and plumbing systems, upgraded insulation, and new central A/C. The images show a modern kitchen with sleek cabinetry and countertops, and updated bathrooms with stylish finishes. The flooring and light fixtures appear new. While the original structure is older, the extensive renovation brings it to a 'good' condition, move-in ready with no immediate renovation required.
Pros & Cons

Pros

Complete Renovation: The property has undergone a complete renovation, including new electrical and plumbing systems, offering modern comfort and peace of mind.
ADU Potential: The expansive lot and detached 550 sq. ft. garage provide excellent potential for constructing an Accessory Dwelling Unit (ADU) for rental income or extended family.
New Central A/C: The installation of a new central A/C system ensures year-round comfort, a significant advantage in the Los Angeles climate.
Move-In Ready: The property is move-in ready, allowing buyers to immediately enjoy the updated features without the need for immediate renovations.
Desirable Location: Located in a desirable Los Angeles neighborhood, the property is conveniently close to schools, shopping, and major freeways.

Cons

Previous Buyer Financing Issues: The property is back on the market due to a previous buyer's inability to secure financing, which may raise concerns for some potential buyers.
Smaller Square Footage: At 1034 sqft, the home might be considered small for some families, potentially limiting its appeal to larger households.
Lot Size: While the lot offers ADU potential, the lot size of 5682 sqft is relatively average for the area, which might limit the size and scope of any potential ADU construction.

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