8772 Prince Avenue, Los Angeles, California 90002, Los Angeles, 90002 - 3 bed, 1 bath
ACTIVE$470,000
8772 Prince Avenue, Los Angeles, California 90002
3Beds
1Bath
1,153Sqft
4,983Lot
Year Built
1925
Close
-
List price
$470K
Original List price
$470K
Price/Sqft
$408
HOA
-
Days on market
-
Sold On
-
MLS number
PW25146435
Home ConditionPoor
Features
View-
About this home
Possibly Over-Priced:The estimated price is 27% below the list price. We found 3 Cons,5 Pros. Rank: price - $470.0K(20th), sqft - 1153(55th), beds - 3(50th), baths - 1(47th).
Perfect Opportunity for Investors. This home has not been on the market in over 65 years. This home has 3 beds and 1 bath. This property has great potential for customization. The property is being sold as-is. .
Condition Rating
Poor
Built in 1925, this property is nearly 100 years old and has not been on the market in over 65 years, indicating a severe lack of modern updates. The 'as-is' sale and description as an 'opportunity for investors' with 'great potential for customization' strongly suggest extensive rehabilitation is required. The exterior images show neglect, with a bare yard and worn stucco. Without any recent renovations, the kitchen and bathroom are undoubtedly severely outdated, likely original or from over 60 years ago, and all major systems (electrical, plumbing, HVAC) are well past their expected lifespan, requiring substantial repairs and replacements to be safe and comfortable for living.
Pros & Cons
Pros
Strong Investment Opportunity: Explicitly marketed as an investor's dream, indicating potential for significant value appreciation through renovation and customization.
High Customization Potential: The property offers a blank canvas for extensive customization and modernization, appealing to buyers seeking to create their ideal home or maximize rental value.
Generous Lot Size: A 4,983 sqft lot provides ample space for potential expansion, landscaping, or the addition of an Accessory Dwelling Unit (ADU), enhancing future value.
Rare Market Offering: Being off-market for over 65 years presents a unique opportunity for buyers to acquire a property with untapped potential in a desirable Los Angeles location.
Functional Layout (3 Beds): The 3-bedroom configuration offers a practical and sought-after layout for families or multi-tenant occupancy, providing a solid foundation for renovation.
Cons
Sold 'As-Is' Condition: The property is explicitly sold 'as-is,' indicating the seller will not undertake repairs and implying substantial renovation costs and effort for the buyer.
Requires Extensive Renovation: Built in 1925 and not updated for over 65 years, the property likely requires significant modernization and upgrades to meet contemporary living standards.
Potential Overpricing: The current list price of $470,000 is significantly higher (27% above) the estimated property value of $341,687, suggesting it may be overvalued in its current condition.