859 W 54th Street, Los Angeles, California 90037, Los Angeles, 90037 - bed, bath
ACTIVE$709,000
859 W 54th Street, Los Angeles, California 90037
0Bed
0Bath
1,881Sqft
5,464Lot
Year Built
1915
Close
-
List price
$709K
Original List price
$709K
Price/Sqft
$377
HOA
-
Days on market
-
Sold On
-
MLS number
IV24214936
Home ConditionPoor
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $709.0K(22th), sqft - 1881(30th), beds - undefined(50th), baths - undefined(50th).
Great Opportunity to own this multi-family home oozing with potential. This property was built in 1915 and features plenty of living space. ***SPECIAL NOTES: (1) This is a CASH ONLY transaction. (2) Seller to pay Taxes, HOA, and Municipal/Utility Liens. (3) Please read the Auction disclaimers carefully before placing a bid or submitting an offer. ***
Nearby schools
3/10
Fifty-Second Street Elementary School
Public,•K-5•0.2mi
/10
Dr. James Edward Jones Primary Center
Public,•K-2•0.5mi
2/10
Marguerite Poindexter Lamotte Elementary
Public,•K-5•0.6mi
3/10
Normandie Avenue Elementary School
Public,•K-5•0.8mi
2/10
Main Street Elementary School
Public,•K-5•0.9mi
5/10
West Vernon Avenue Elementary School
Public,•K-5•0.9mi
5/10
Menlo Avenue Elementary School
Public,•K-5•1.0mi
2/10
Western Avenue Elementary School
Public,•K-5•1.1mi
2/10
Martin Luther King Jr. Elementary School
Public,•K-5•1.6mi
3/10
Trinity Street Elementary School
Public,•K-5•1.7mi
/10
Maple Primary Center
Public,•K-1•1.9mi
3/10
Angeles Mesa Elementary School
Public,•K-5•1.9mi
2/10
Forty-Second Street Elementary School
Public,•K-5•2.1mi
2/10
Tom Bradley Global Awareness Magnet School
Public,•K-5•2.4mi
3/10
Sixth Avenue Elementary School
Public,•K-5•3.0mi
2/10
John Muir Middle School
Public,•6-8•0.5mi
2/10
Barack Obama Global Preparation Academy
Public,•6-8•1.3mi
3/10
Los Angeles Academy Middle
Public,•6-8•1.5mi
1/10
Horace Mann Junior High School
Public,•6-8•1.7mi
3/10
William Jefferson Clinton Middle School
Public,•6-8•1.9mi
2/10
Audubon Middle School
Public,•6-8•2.6mi
2/10
Augustus F. Hawkins High A Critical Design And Gaming
Public,•9-12•0.6mi
3/10
Manual Arts Senior High School
Public,•9-12•1.0mi
1/10
Crenshaw Science, Technology, Engineering, Math And Medicine Magnet
Public,•9-12•2.3mi
3/10
Nava College Preparatory Academy
Public,•9-12•2.4mi
5/10
Santee Education Complex
Public,•9-12•2.9mi
Price History
Date
Event
Price
10/16/24
Listing
$709,000
09/01/22
Sold
$640,000
Condition Rating
Poor
This property, built in 1915, is over 100 years old. The 'CASH ONLY transaction' note is a significant red flag, indicating that the property likely has substantial defects or deferred maintenance that prevent conventional financing. The exterior images show clear signs of neglect, including an overgrown yard, old fencing, and a dated facade. While interior images are not provided, the age of the property and the 'cash only' requirement strongly suggest that the kitchen, bathrooms, and all major systems (plumbing, electrical, HVAC) are severely outdated, in disrepair, and require substantial rehabilitation to meet modern safety and comfort standards. The description 'oozing with potential' further implies extensive work is needed, aligning with the 'Poor' condition criteria.
Pros & Cons
Pros
Income-Generating Property: As a multi-family duplex, this property offers immediate potential for rental income, making it an attractive investment opportunity.
Prime Los Angeles Location: Located in Los Angeles, a highly desirable and appreciating real estate market, offering strong long-term value potential.
Significant Lot Size: The generous 5,464 sqft lot provides ample outdoor space and potential for future expansion, landscaping, or even an ADU (Accessory Dwelling Unit).
Seller Covers Liens: The seller's commitment to pay Taxes, HOA, and Municipal/Utility Liens significantly reduces the buyer's upfront costs and potential liabilities.
Renovation/Development Potential: Described as 'oozing with potential' and built in 1915, the property is a prime candidate for significant renovation, modernization, or redevelopment to maximize its value.
Cons
Cash-Only Transaction: The requirement for a 'CASH ONLY' transaction severely limits the buyer pool, excluding those who rely on traditional financing.
Age and Implied Condition: Built in 1915, the property is likely to require substantial renovation, repairs, and modernization, which could entail significant additional investment beyond the purchase price.
Auction Process Complexity: The mention of 'Auction disclaimers' suggests a potentially complex and non-standard acquisition process, which may deter some buyers and require careful due diligence.