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787 Terrace 49, Los Angeles, California 90042, Los Angeles, 90042 - 3 bed, 2 bath

787 Terrace 49, Los Angeles, California 90042 home-pic-0
ACTIVE$849,000
787 Terrace 49, Los Angeles, California 90042
3Beds
2Baths
1,200Sqft
8,469Lot

Price Vs. Estimate

The estimated value ($889,000) is $40,000 (4%) higher than the list price ($849,000). This property may be underpriced.

Key pros and cons

Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8469, living area = 1200.
Top Cons:
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 1200, other record living area = 870. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 1.

Compared to the nearby listings

Price:$849.0K vs avg $1.23M ($-378,500)16%
Size:1,200 sqft vs avg 1,286.5 sqft44%
Price/sqft:$708 vs avg $92119%

More Insights

Built in 1936 (89 years old).
Condition: The property, built in 1936, is explicitly marketed as a 'FLIP opportunity' requiring a 'complete renovation' and is sold 'AS IS' for 'CASH ONLY.' The interior images reveal unfinished spaces with exposed framing and insulation, indicating significant structural or system work is needed. The bathroom is highly outdated with an aged, pre-fabricated shower stall, old tiles, and an old light fixture, requiring a full renovation. These factors collectively point to a property needing substantial repairs and rehabilitation, aligning with a 'Poor' condition score.
Year Built
1936
Close
-
List price
$849K
Original List price
$889K
Price/Sqft
$708
HOA
-
Days on market
-
Sold On
-
MLS number
GD25265908
Home ConditionPoor
Features
Good View: Hills, Mountain(s)
Deck
Patio
ViewHills, Mountain(s)

About this home

Fantastic FLIP opportunity! Positioned in one of Los Angeles' most ideally-located neighborhoods. Attention investors this home sits on a spacious sized lot with 8,469 sq ft., offering incredible potential for a complete renovation or a flip. A standout feature of this property is the long driveway, providing ample parking for multiple cars. Even further it is set on a hillside with views of the mountains from the permitted open deck. It has the elements to create your own private compound. This home is just a short distance from both York and Figueroa Blvd, where you can enjoy a variety of restaurants, coffee shops, stores, schools, parks, and more. It's also a short drive to Pasadena, Downtown L.A., and Occidental College. Easy access to major highways, you're well-connected to the best that Highland Park and the surrounding areas have to offer. !!!!!!! PROPERTY TO BE SOLD "AS IS"CONDITIONS. ALL "CASH ONLY". Please research the property before submitting any offers and do not submit blind offers! All offers will be shown to the seller.

Price History

Date
Event
Price
05/17/07
Sold
$520,000
Condition Rating
Poor
The property, built in 1936, is explicitly marketed as a 'FLIP opportunity' requiring a 'complete renovation' and is sold 'AS IS' for 'CASH ONLY.' The interior images reveal unfinished spaces with exposed framing and insulation, indicating significant structural or system work is needed. The bathroom is highly outdated with an aged, pre-fabricated shower stall, old tiles, and an old light fixture, requiring a full renovation. These factors collectively point to a property needing substantial repairs and rehabilitation, aligning with a 'Poor' condition score.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8469, living area = 1200.
Prime Location: Positioned in a highly desirable Highland Park neighborhood, offering excellent proximity to local amenities on York and Figueroa Blvd, and convenient access to Pasadena, Downtown L.A., Occidental College, and major highways.
Investment Potential: Explicitly marketed as a 'Fantastic FLIP opportunity' with 'incredible potential for a complete renovation,' appealing directly to investors and developers.
Spacious Lot Size: Sits on a generous 8,469 sq ft lot, providing ample space for expansion, landscaping, or creating a private compound.
Mountain Views: Set on a hillside, the property offers desirable mountain views from a permitted open deck, enhancing its aesthetic appeal.
Ample Parking: Features a long driveway capable of accommodating multiple cars, a significant advantage in Los Angeles.

Cons

MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 1200, other record living area = 870. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 1.
As-Is Condition & Renovation Required: The property is sold 'AS IS' and requires a 'complete renovation,' implying substantial financial investment, time, and effort from the buyer to bring it to modern standards.
Cash Only Requirement: The 'ALL "CASH ONLY"' stipulation severely restricts the potential buyer pool, excluding those who rely on traditional mortgage financing.
Age of Property: Built in 1936, the home likely has outdated systems, infrastructure, and potential structural issues that will contribute to the extensive renovation costs and complexities.

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