821 Lorraine Boulevard, Los Angeles, California 90005, Los Angeles, 90005 - 6 bed, 7 bath

821 Lorraine Boulevard, Los Angeles, California 90005 home-pic-0
ACTIVE$2,599,000
821 Lorraine Boulevard, Los Angeles, California 90005
6Beds
7Baths
4,434Sqft
7,300Lot

Price Vs. Estimate

The estimated value ($2,599,000) is $0 (0%) lower than the list price ($2,599,000). This property may be overpriced.

Key pros and cons

Top Pros:
Exceptional Income Potential: The property boasts a newly built ADU generating $3,900/month, with the main home projected to earn $7,000-$8,000/month, offering substantial passive income and strong investment appeal, particularly for 1031 exchanges.
Top Cons:
Unfinished Customization Projects: The property includes ordered but uninstalled custom accordion glass windows for a balcony/covered patio and unfinished custom accordion glass doors for an outside deck, requiring the buyer to complete these installations.

Compared to the nearby listings

Price:$2.60M vs avg $2.75M ($-150,500)50%
Size:4,434 sqft vs avg 3,217.5 sqft63%
Price/sqft:$586 vs avg $67638%

More Insights

Built in 1924 (101 years old).
Condition: Despite being built in 1924, this property has undergone extensive, recent, and high-end renovations, as explicitly stated in the description and visually confirmed by the images. The main house features upgraded new natural hardwood floors, luxury dual-pane windows, modern light fixtures, and tastefully updated bathrooms with new fixtures and contemporary designs (e.g., lighted mirrors, glass showers, pebble floors). The gourmet kitchen is equipped with top-of-the-line appliances, custom cabinetry, and a large wine refrigerator, all appearing new or virtually new. Furthermore, the Accessory Dwelling Unit (ADU) is described as 'BRAND NEWLY BUILT.' While there are minor unfinished items mentioned (accordion glass windows for balcony/deck), these are cosmetic and do not detract from the overall 'excellent' condition of the core structure and systems, which meet current quality standards with minimal physical depreciation.
Year Built
1924
Close
-
List price
$2.6M
Original List price
$2.9M
Price/Sqft
$586
HOA
-
Days on market
-
Sold On
-
MLS number
25597761
Home ConditionExcellent
Features
Good View: Mountain(s), Peek-A-Boo
Deck
Patio
ViewMountain(s), Peek-A-Boo

About this home

Serious about buying in this neighborhood? WAIT NO MORE!! LAST PRICE DROP, BEFORE THIS ONE IS NO LONGER ON THE MARKET!! OVER $300,000.00 PRICE REDUCTION MAKES THIS MOVE-IN READY PROPERTY CALLING FOR THAT ONE BUYER!! THE LOWEST PER SQUARE FEET IN WINDSOR VILLAGE!! SEE ATTACHED DOC FOR INVESTMENT DEPRECIATION AND TAX BENEFIT FOR THE NEXT BUYER. BRING YOUR 1031 EXCHANGE HERE. The current listing price is highly competitive compared to neighboring luxury homes, and with the additional income from the ADU and the recent high-end renovations, this property offers strong investment potential. Given the additional rental income from the ADU and the recent renovations, this property presents a strong value at a highly competitive price compared to nearby luxury homes. THIS CAN BE YOUR INCOME PROPERTY, MAIN HOME CAN FETCH $7,000 TO $8,000 PER MONTH, THE REAR BRAND NEWLY BUILT, ADU BUILDING IS COLLECTING $3,900 PER MONTH. TOTAL $11,900.00 PASSIVE INCOME. 1031 EXCHANGE WELCOME. Welcome to Exquisite Historic Home in the Heart of Windsor Village, a captivating residence nestled in the prestigious Windsor Village neighborhood of Los Angeles. This stunning property seamlessly blends historic charm with modern amenities, offering an unparalleled living experience. Boasting spacious bedrooms and elegantly designed bathrooms, this home is a perfect blend of comfort and luxury. The grand entrance welcomes you with its timeless architecture, featuring upgraded new natural Hardwood floors throughout the entire home, intricate moldings, and large windows that bathe the home in natural light, the windows have also been upgraded to Expensive/Luxury dual pane Heavy-duty Aluminum security window/doors. High staircase with newly installed 12-Lights Raindrop Chandelier 120 in Gold Pendant Light. Beautifully and tastefully updated Bathrooms with new shower fixtures. Designer's choice/custom curated Window curtains and window Blinds. 2nd floor NW corner bedroom has an outside balcony, also can be turned into a covered patio with accordion glass windows (ordered & delivered but not installed buyer to finish) The Gourmet kitchen is a chef's dream, equipped with top-of-the-line appliances, custom cabinetry, and largest wine refrigerator (WHAT? YOU HAVE MORE WINES? NOT A PROBLEM!! THE SOLUTION: THIS HOME HAS BASEMENT!!) A breakfast bar, perfect for a family's busy lifestyle. The dining room and living spaces are ideal for hosting guests, while the cozy fireplace adds warmth and ambiance. Just step away from either the formal Livingroom or the Kitchen area is newly epoxy painted outside deck with a unfinished custom accordion custom glass doors(ordered & delivered but not installed buyer to finish) Outside, the beautifully landscaped Front yard and back pocket side yard next to Brand NEWLY BUILT ADU(2 BEDs 2.5 BATHs, floor to ceiling large spec Glass Windows in the living-room WITH ATTACHED GARAGE(VERY STABLE TENANT PAYING $3,900 EACH MONTH, A KEEPER!!) HIGH CEILING, WALK-IN CLOSETS, LARGE ROOMS AND OPEN KITCHEN FLOOR PLAN. Pet station (bonus storage at the backside of kitchen) for the Pet LOVERS!! The backyard offers a private space with hand-layed pavers, mature trees, and a patio area perfect for outdoor dining and relaxation. Located just minutes from Larchmont Village, easy access to the vibrant shops, cafes, and restaurants of one of LA s most beloved neighborhoods. With its prime location and timeless appeal, this is more than just a home; it's a lifestyle. Don't miss the opportunity to own a piece of Los Angeles history. Just perfect for those seeking a blend of luxury, comfort, and privacy in one of Los Angeles' most sought-after neighborhoods. THIS HOME CAN BE YOURS!! MOVE-IN CONDITION, A TURN-KEY PROPERTY. DON'T MISS IT!! THIS ONE WILL GO FAST!! ADU video attached!!

Price History

Date
Event
Price
06/23/17
Sold
$1,349,000
Condition Rating
Excellent

Despite being built in 1924, this property has undergone extensive, recent, and high-end renovations, as explicitly stated in the description and visually confirmed by the images. The main house features upgraded new natural hardwood floors, luxury dual-pane windows, modern light fixtures, and tastefully updated bathrooms with new fixtures and contemporary designs (e.g., lighted mirrors, glass showers, pebble floors). The gourmet kitchen is equipped with top-of-the-line appliances, custom cabinetry, and a large wine refrigerator, all appearing new or virtually new. Furthermore, the Accessory Dwelling Unit (ADU) is described as 'BRAND NEWLY BUILT.' While there are minor unfinished items mentioned (accordion glass windows for balcony/deck), these are cosmetic and do not detract from the overall 'excellent' condition of the core structure and systems, which meet current quality standards with minimal physical depreciation.
Pros & Cons

Pros

Exceptional Income Potential: The property boasts a newly built ADU generating $3,900/month, with the main home projected to earn $7,000-$8,000/month, offering substantial passive income and strong investment appeal, particularly for 1031 exchanges.
Extensive High-End Renovations: The home seamlessly blends historic charm with modern luxury through upgraded natural hardwood floors, luxury dual-pane aluminum security windows, tastefully updated bathrooms, and a gourmet kitchen with top-of-the-line appliances.
Prime Windsor Village Location: Located in the prestigious Windsor Village neighborhood, the property offers a desirable lifestyle with convenient access to the vibrant shops, cafes, and restaurants of Larchmont Village.
Competitive Market Value: Positioned as the 'lowest per square feet in Windsor Village' and 'highly competitive compared to neighboring luxury homes,' especially considering the recent renovations and significant rental income from the ADU.
Turn-Key & Move-In Ready: Despite its 1924 build, the property is presented as 'move-in ready' and a 'turn-key property,' minimizing immediate renovation efforts for the new owner.

Cons

Unfinished Customization Projects: The property includes ordered but uninstalled custom accordion glass windows for a balcony/covered patio and unfinished custom accordion glass doors for an outside deck, requiring the buyer to complete these installations.
Historic Property Maintenance: As a home built in 1924, despite extensive renovations, it may still present unforeseen maintenance challenges or require specialized care typical of older structures over time.
Seller's Urgency & Price Reductions: The listing emphasizes a 'LAST PRICE DROP' and 'OVER $300,000.00 PRICE REDUCTION,' which, while beneficial for a buyer, could raise questions about previous market reception or underlying reasons for the seller's urgency.

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