923 S Alma Avenue, Los Angeles, California 90023, Los Angeles, 90023 - 2 bed, 1 bath
ACTIVE$505,000
923 S Alma Avenue, Los Angeles, California 90023
2Beds
1Bath
816Sqft
4,728Lot
Year Built
1911
Close
-
List price
$505K
Original List price
$505K
Price/Sqft
$619
HOA
-
Days on market
-
Sold On
-
MLS number
RS24141619
Home ConditionPoor
Features
View-
About this home
Possibly Over-Priced:The estimated price is 22% below the list price. We found 3 Cons,5 Pros. Rank: price - $505.0K(17th), sqft - 816(17th), beds - 2(26th), baths - 1(50th).
2 bed 1 bath. (buyer is to go to the city to check on permits). The sale of this property includes all of the furniture that the property currently has. Property has tile flooring thru out the home. We are looking for a cash buyer and buyer is to buy both properties. 923 1/2 S Alma Ave this one faces the alley .
Condition Rating
Poor
Built in 1911, this property is severely outdated and requires substantial rehabilitation. The kitchen features very old appliances, dated cabinets, and an old light fixture, while the bathroom is equally antiquated with basic, aged fixtures and tile. The 'tile flooring throughout' is an older style. The absence of information on major systems (HVAC, electrical, plumbing) for a home of this age, combined with the explicit instruction for the buyer to 'check on permits,' strongly suggests significant deferred maintenance and the need for extensive system replacements and renovations to meet modern safety and comfort standards.
Pros & Cons
Pros
Includes Furniture: The sale includes all existing furniture, offering immediate occupancy or rental readiness without additional furnishing costs.
Tile Flooring Throughout: The property features durable and low-maintenance tile flooring throughout, appealing to buyers seeking practicality and ease of care.
Investment Opportunity (Dual Property): The requirement to purchase both 923 S Alma Avenue and 923 1/2 S Alma Avenue presents a unique investment opportunity for increased rental income or multi-generational living arrangements.
Lot Size & ADU Potential: With a 4728 sqft lot and alley access for the second property, there is significant potential for future expansion or the addition of an Accessory Dwelling Unit (ADU), enhancing property value and utility.
Historic Charm: Built in 1911, the property may possess architectural character and historic appeal, attracting buyers interested in homes with established charm.
Cons
Cash Buyer Requirement: The explicit requirement for a cash buyer severely limits the pool of potential purchasers, potentially prolonging market time and reducing competitive offers.
Permit Uncertainty: The buyer's responsibility to check permits indicates potential unpermitted work or legal ambiguities, introducing significant risk and possible future expenses for compliance or remediation.
Overpriced & Mandatory Dual Purchase: The property is listed significantly above its estimated market value (22% higher), compounded by the non-negotiable requirement to purchase two properties, creating a high financial barrier and narrowing the buyer market.