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$1,250,000

Beds
5
sq ft
1,722

317 N Commonwealth Ave, Los Angeles, CA 90004

317 N Commonwealth Ave

Los Angeles, CA 90004

  • 79 days on market
    • Price drop $100,000↓
Discover a unique opportunity to own a beautifully renovated, income-producing property in the heart of Koreatown! Perfect for both owner-occupancy and rental income potential. Each unit boasts upgraded kitchens and baths, brand new appliances, sleek flooring, and stylish stucco finishes. With solar panels and a new HVAC system, this duplex is as energy-efficient as it is beautiful. The open floor plan floods with natural light, while lush greenery provides an oasis of calm. Outside, you'll find a 6-car parking lot, making it ideal for tenants or large families, plus the exciting potential for an ADU to further increase rental income. The property is gated and tucked away on a cul-de-sac in a safe, school neighborhood. With a sprawling outdoor area perfect for pets or play, this property is ideal for a growing family. Delivered vacant, it's a perfect starter home with serious potential for passive income. Seize this chance to live in style while generating rental income! ***3.25% assumable FHA loan for the qualified buyer.***

Details

Property type

Est. home value

$1,449,398

Lot size

7,503 sq ft

Price per sq ft

$726

Year built

1915

HOA

No

Price History

10/31/2024
CLAW

CLAW #24449743

Price change
$1,250,000
-7.41%
10/07/2024
CLAW

CLAW #24449743

Listed
$1,350,000
+8%
06/21/2024
CLAW

CLAW #24356187

Removed
$1,250,000

Schools & Community

Neighborhood: 

Westlake

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

$1,114,459
Asking price
$1,250,000
Closing costs (~8% of asking)
-$100,000
Est. remaining loan balance
-$35,541
Cash to seller
$1,114,459

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

Seller’s Loan History

Lender

Pennymac Loan Services Llc

Loan start date

December 2023

Original loan amount

$35,882

Est. remaining balance

$35,541

Interest rate

7.79%

Loan type

New Conventional, 29 year

Seller

Caroline Pham

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?

Status: Active

Tomo last checked: 12/25/2024 at 10:55 PM

Listing updated: 12/05/2024 at 3:15 AM

Listed by: Robert Howell, Keller Williams Beverly Hills Phone #: (310) 432-6400

MLS: CLAW #24449743

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