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$688,000

Beds
3
Baths
2.0
sq ft
1,220

1205 W 57th St, Los Angeles, CA 90037

1205 W 57th St

Los Angeles, CA 90037

  • 48 days on market
    • Price drop $17,000↓
1 car garage is FULLY PERMITTED to become an ADU. This three bedroom two bath home boasts a fully remodeled kitchen and bathroom. It's in a prime location close to USC, SoFi Stadium, Crypto Arena, and DTLA. The third bedroom and bath are on the second level with an optional private entrance, which has been rented with Airbnb for $2,200 a month. You can use as a mother-in-law suite, multigenerational living or an investment property. The backyard has mature fruit trees and ample space for animals and kids to play. Home will be delivered vacant at close of escrow. Lots of income potential with this property. Come see for yourself, as this listing is priced to sell and won't last long!

Details

Property type

Single Family Residence

Est. home value

$747,295

Property condition

Fixer
Updated/Remodeled

Lot size

3,422 sq ft

Price per sq ft

$564

Year built

1938

HOA

No

Price History

08/15/2024
CLAW

CLAW #24423263

Price change
$688,000
-2.41%
08/02/2024
CLAW

CLAW #24423263

Listed
$705,000
-7.11%
06/26/2024
CLAW

CLAW #24355667

Removed
$759,000

Schools & Community

Neighborhood: 

South Los Angeles

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$117,178
Asking price
$688,000
Closing costs (~8% of asking)
-$55,040
Est. remaining loan balance
-$515,782
Cash to seller
$117,178

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Ocmbc Inc

Loan start date

November 2023

Original loan amount

$520,000

Est. remaining balance

$515,782

Interest rate

7.19%

Loan type

New Conventional, 30 year

Seller

Samson Okhade

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 09/19/2024 at 3:10 PM

Listing updated: 09/13/2024 at 1:40 PM

Listed by: Angela Rhodes, Rodeo Realty- Brentwood Phone #: (310) 873-4100

MLS: CLAW #24423263

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