OFF MARKET🔥🔥 opportunity in a prime location in LA.
It is located in the neighborhood of Hancock Park, above Beverly Blvd and right south of the famous Melrose Ave, minutes away from Wilshire Country Club and the Los Angeles Tennis Club.
It is a 4 beds 2 bath with 2.
044 sqft living space on 7,030 lot.
There are a few key points about the property:
There is an unpermitted ADU approx 400 sq ft.
The main house is clean, outdated Interior needs full rehab.
Looks to be roughly 230K in work to bring up to modern standards.
There are cracks in the yard but according to the seller, there are no foundation issues.
Needs a new driveway, New smooth stucco, and new windows.
The roof is in great condition.
A/C was done less than a year ago.
COMPS:
201 S Larchmont Blvd, Los Angeles 90004 - Rehabbed | Sold for $2,626,937 (more than $500K above asking) | Closed on 10/03/22 in 15 days
542 N McCadden Pl, Los Angeles 90004 - Not Rehabbed | Sold for $2,270,000 ( Less than $500k above asking) | Closed on 10/21/22 in 21 days.
612 N Mccadden Pl, Los Angeles 90004 - Rehabbed | Sold for $2,732,000 | Closed on 12/16/22 in 50 days
ARV:
There are two great opportunities in determining ARV.
With the ADU un permitted, we have a solid ARV over the $2.
3 M mark.
If the investor decides to permit the ADU (best exit), the ARV can fetch over $2.
7 M!!
David 424-256-01SIXXXXXXXX
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