tomo logo

$899,000

Beds
4
Baths
2.0
sq ft
1,330

240 S Avenue 24, Los Angeles, CA 90031

240 S Avenue 24

Los Angeles, CA 90031

  • 90 days on market
    • Price drop $51,000↓
Two charming legal units delivered 100% VACANT in the trendiest part of booming Lincoln Heights! Located in the heart of it all just one block south of the adorable coffee shops and restaurants on N Broadway this versatile property has much to offer! Two distinct and perfectly appointed units with separate entrances offer a unique opportunity for multigenerational living, passive income or a phenomenal investment portfolio addition in an area that is off the charts with rapidly increasing value growth! Both units are spacious, super private and totally move in ready! The downstairs unit offers a comfortable living space with 2 bedrooms, 1 bathroom, a full kitchen, and a spacious living room. The upstairs unit has its own private entrance, boasting 2 bedrooms, 1 bathroom, and a sunny kitchen / lounge area. In addition there's an expansive backyard courtyard area that offers additional value to the occupants and could be great for lounging / entertaining, pets or future expansion. Each unit benefits from off street parking and separate electric meters. All situated in the vibrant, culturally rich and ever evolving Lincoln Heights neighborhood, this type of gem doesn't come along too often!

Details

Property type

Single Family Residence

Est. home value

$715,957

Lot size

2,720 sq ft

Price per sq ft

$676

Year built

1972

Price History

09/18/2024
CRMLS

CRMLS #AR24134360

Listed
$899,000
08/30/2024
CRMLS

CRMLS #AR24134360

Removed
$899,000
07/22/2024
CRMLS

CRMLS #AR24134360

Price change
$899,000
-5.37%

Schools & Community

Neighborhood: 

Lincoln Heights

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Curbs

High school district: 

Los Angeles Unified

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

$296,045
Asking price
$899,000
Closing costs (~8% of asking)
-$71,920
Est. remaining loan balance
-$531,035
Cash to seller
$296,045

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

Seller’s Loan History

Lender

Movement Mortgage

Loan start date

April 2023

Original loan amount

$540,000

Est. remaining balance

$531,035

Interest rate

6.32%

Loan type

New Conventional, 30 year

Seller

Todd Alan Davis and Lindsay Donovan Davis

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: 09/28/2024 at 7:25 PM

Listing updated: 09/18/2024 at 4:11 PM

Listed by: Jessica Romero, Keller Williams Realty Phone #: (626) 204-3300

MLS: CRMLS #AR24134360

CRMLS logo

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