7537 Maie Avenue, Los Angeles, California 90001, Los Angeles, 90001 - 2 bed, 1 bath

7537 Maie Avenue, Los Angeles, California 90001 home-pic-0
ACTIVE$599,000
7537 Maie Avenue, Los Angeles, California 90001
2Beds
1Bath
1,344Sqft
6,043Lot
Year Built
1920
Close
-
List price
$599K
Original List price
$530K
Price/Sqft
$446
HOA
-
Days on market
-
Sold On
-
MLS number
CV23162334
Home ConditionPoor
Features
Patio
View-

About this home

Possibly Over-Priced:The estimated price is 42% below the list price. We found 3 Cons,5 Pros. Rank: price - $599.0K(62th), sqft - 1344(73th), beds - 2(46th), baths - 1(50th).

This property is zoned LAR3, Current owner has submitted ADU Proposed Site Plans and initial fees to The City of Los Angeles. Perfect for investor or developer looking to build ADU in the back. Buyer to investigate and satisfy with all aspects of the property. Selling in "AS IS" condition. No repairs.

Price History

Date
Event
Price
03/17/21
Sold
$477,000
07/27/20
Sold
$310,000
Condition Rating
Poor

Built in 1920, this property is over a century old and is explicitly being sold 'AS IS' with 'No repairs,' indicating significant deferred maintenance and the need for substantial rehabilitation. The absence of interior photos, particularly for the kitchen and bathroom, strongly suggests these areas are in very poor, outdated, or potentially non-functional condition. The exterior images show an aged structure with signs of neglect. The listing's primary focus on LAR3 zoning and ADU development potential further implies that the value lies in the land, not the existing structure, which likely requires extensive system replacements and may be unsafe or uncomfortable to live in its current state.
Pros & Cons

Pros

Development Potential (LAR3 Zoning): The property's LAR3 zoning offers significant potential for multi-unit or Accessory Dwelling Unit (ADU) development, appealing to investors and developers.
Pre-Approved ADU Plans: The current owner has already submitted ADU Proposed Site Plans and initial fees to the City of Los Angeles, streamlining the development process for a buyer.
Generous Lot Size: With a lot size of 6043 sqft, there is ample space for expansion, ADU construction, or other value-add projects.
Investor/Developer Focus: The listing explicitly targets investors and developers, highlighting its potential for building and generating additional income.
Los Angeles Market Location: Located in Los Angeles, the property benefits from a robust real estate market with strong demand and potential for long-term appreciation.

Cons

As-Is Condition: The property is being sold in 'AS IS' condition with no repairs, indicating potential for significant renovation costs and deferred maintenance.
Age of Property: Built in 1920, the home is over a century old, suggesting that major systems (plumbing, electrical, HVAC) and structural components may require extensive modernization.
Significant Price Discrepancy: The current list price of $599,000 is substantially higher than the estimated value ($345,331.595) and the last sold price ($477,000 in 2021), suggesting it may be overpriced relative to its current condition and market comparables.

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI

Browse Properties by State Browse housing market trends by state