Family Home For Sale: 5712 S Victoria Ave,Los Angeles (90043)

5712 Victoria Avenue - Asking $657K

  • Homeowner/Investor/Developer Opportunity; 4 bedroom 2 bath home in need of TLC; bring your vision and your contractor to see endless possibilities with the home on a large lot (7,004 sq ft); long driveway sufficient to accommodate two cars and an RV; enormous stand up attic space that can provide 2nd floor living space with renovation; seller is open to renovation loan financing; wood flooring under carpeting; basement; coved ceilings in living room; 3/4 bath upgraded; large all original kitchen; fireplace; original doors and windows
 
This is definitely a diamond in the rough. You can’t tell but there is a massive space upstairs that can be your new master suite of rooms. This leaves 3 nice size bedrooms and a large kitchen and laundry area for your open concept living. The huge lot and detached garage provide many options for additional indoor & outdoor living space.
A Perfect Home for a Family with great upside equity potential in a wonderful family neighborhood. A Perfect Home for an Investor looking for a HOLD + RENTAL INCOME OPPORTUNITY in a wonderful family neighborhood One Block from the NEW CRENSHAW CORRIDOR RAIL LINE. A Perfect Home for an Investor looking for a FLIP OPPORTUNITY.

FLIP OPPORTUNITY COMPS & ANALYSIS

The average is $556/SF or $1.040M
5712 Victoria
   
Est. ARV (@ $500 Per SF)*  $          935,500
85% LTV  $          795,175
Est. Interior rehab (@$65/SF)  $          121,615
Est. Add *0 SF (@$225/SF)  $                      –  
Est. Exterior Rehab  $            10,000
Est. Holding Costs  $            40,000
Est. Closing (Comm @ 5%)  $            51,000
Est. Maximum Offer  $          572,560
1/2 mile radius, sold within 3 mos      
6/20/19        
 
 
     
  SUBJECT PROPERTY A B
Source Zoned: LAR1 Zoned: LAR1 Zoned: LAR2 Zoned: LAR1
number 5712 5308 5516 4725
Street Victoria Hillcrest Keniston Victoria
list price $656,720 $1,399,000 $849,000 $1,199,000
sold price   $1,378,000 $850,000 $1,300,000
sold price to list price - 98.5% 100.1% 108.4%
list date 611/2019 2/11/19 1/9/19 3/14/19
sold date   5/22/19 5/17/19 4/26/19
days to accepted offer   100 128 43
square footage 1871 2261 1802 1983
price/square foot $351.00 $609.46 $471.70 $655.57
lot square footage 7005 7007 5716 7199
remodeled? major fixer/cash only remodeled remocdeled remodeled
view? no no no no
pool? no no no no
Heat floor furnace central natural gas; wall central
Central Air no central no dual
Year Built 1929 1928 1923 1925
Bedrooms/Baths 4b/2b 5B/4B 3b/2b 3b/2b
Adjustments        
Pool   $0 $0 $0
View   $0 $0 $0
Sale Date Adjustment   $1,391,780 $858,500 $1,313,000
Location   -$100,000 -$50,000 -$25,000
bldg square footage variance/sq. ft.   -390 459 -181
bldg square footage variance @ $75/SF   -$29,250 $34,425 -$13,575
lot square footage variance/sq. ft.   -2 1,291 -1,483
lot square footage variance @ $20/SF   -$40 $25,820 -$29,660
         
adjusted price @   $1,262,490 $868,745 $1,244,765
adjusted price/SF   $558.38 $482.10 $627.72
         
Avg Price Per SF of Updated/Renovated Homes $556      

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What are Opportunity Zone funds?
Opportunity Zone Funds are investment vehicles created for investors to take advantage of the recent tax code changes. The changes allow for a reduction in capital gains tax through investments in qualified “Opportunity Zones”.

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