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
Price Vs. Estimate
The estimated value ($480,944.225) is $24,055.775 (4%) lower than the list price ($505,000). This property may be overpriced.
Key pros and cons
Top Pros:
Multi-Property Investment: The sale includes two properties (923 & 923 1/2 S Alma Ave), offering potential for rental income or multi-generational living.
Top Cons:
Limited Buyer Pool: The requirement for a cash buyer to purchase both properties severely restricts marketability and financing options.
Compared to the nearby listings
Price:$505.0K vs avg $677.5K ($-172,500)18%
Size:816 sqft vs avg 1,188.5 sqft18%
Price/sqft:$619 vs avg $54182%
More Insights
Built in 1911 (114 years old).
Condition: Built in 1911, this property is over 100 years old. While the description mentions 'tile flooring thru out the home,' there are no interior images to assess the condition of the kitchen, bathrooms, appliances, or other critical systems. The explicit note for the 'buyer to go to the city to check on permits' and the requirement for a 'cash buyer' to purchase 'both properties' strongly indicate significant underlying issues, likely related to unpermitted work, structural concerns, or major system deficiencies (plumbing, electrical, HVAC) that would prevent traditional financing. The exterior appears aged but not dilapidated, however, the lack of interior visibility combined with the age and the 'cash buyer/permit' clauses suggests the property requires substantial repairs and rehabilitation, aligning with the 'Poor' condition criteria.
Year Built
1911
Close
-
List price
$505K
Original List price
$505K
Price/Sqft
$619
HOA
-
Days on market
-
Sold On
-
MLS number
RS25125445
Home ConditionPoor
Features
View-
About this home
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 over 100 years old. While the description mentions 'tile flooring thru out the home,' there are no interior images to assess the condition of the kitchen, bathrooms, appliances, or other critical systems. The explicit note for the 'buyer to go to the city to check on permits' and the requirement for a 'cash buyer' to purchase 'both properties' strongly indicate significant underlying issues, likely related to unpermitted work, structural concerns, or major system deficiencies (plumbing, electrical, HVAC) that would prevent traditional financing. The exterior appears aged but not dilapidated, however, the lack of interior visibility combined with the age and the 'cash buyer/permit' clauses suggests the property requires substantial repairs and rehabilitation, aligning with the 'Poor' condition criteria.
Pros & Cons
Pros
Multi-Property Investment: The sale includes two properties (923 & 923 1/2 S Alma Ave), offering potential for rental income or multi-generational living.
Substantial Lot Size: A 4,728 sqft lot provides ample space for potential expansion, an Accessory Dwelling Unit (ADU), or enhanced outdoor amenities.
Strategic Los Angeles Location: Situated in a dynamic urban market, offering access to amenities, job centers, and long-term appreciation prospects.
Turnkey Furnished Option: The inclusion of all existing furniture provides a convenient, move-in ready solution for buyers or immediate rental.
Low-Maintenance Flooring: Consistent tile flooring throughout the home offers durability and ease of upkeep.
Cons
Limited Buyer Pool: The requirement for a cash buyer to purchase both properties severely restricts marketability and financing options.
Permit Verification Responsibility: The explicit instruction for the buyer to check permits indicates potential unpermitted work or compliance issues, posing unknown costs and risks.
Significant Age & Renovation Needs: Built in 1911, the property likely requires substantial investment in system upgrades and general renovation to meet modern standards.