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Three New Fixer / Teardown Homes Get Reviewed - Under $1M -

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This week's Broker Caravan had 3 new fixer/teardowns in Westwood and Cheviot Hills under $1m to show off. Lets take a look...

First up is the Westwood home at 1563 Midvale Ave, LA CA 90024. Located south of Wilshire and west of Westwood Blvd. According to the MLS, the home is a 3 bedroom / 1.75 bath, 2,042 sq ft of living space on 7,095 sq ft lot. Walking through the home you could see considerable deferred maintenance throughout, as it looked to be in original condition.  I would say it's not really livable in it's current condition. Without a thorough inspection from qualified inspectors, it's hard to tell what is worth saving and whether it's better served tearing this house down and starting new. I liked the fact it has a separate den off the kitchen area which also opens out to a large courtyard area with an outside fireplace. With the large square footage of the lot and house, there is some nice potential here. Last thing to point out, your on the west side of Midvale, so you do not back up to commercial property (this is a good thing). Asking price is $989,000 and the private remarks states they will be looking at offers starting November 5th.

Next up is the other new fixer (re-) listing in Westwood at 10849 Rochester Ave, LA CA 90024. Also south of Wilshire, but is just east of Westwood Blvd. Originally this home was listed on 2/5/09 for $1,699,000 and has slowly reduced it's price since then, last ending 7/1/10 at $1,295,000. Now showing signs of serious motivation, the new listing has a new asking price of just $950,000 - a low price for this subsection of Westwood. According to the MLS, the home is a 3 bedroom / 2.5 bath, 1,947 sq ft of living space on a 6,500 sq ft lot. I would call this a fixer because it is in desperate need for someone to go in an completely gut what is there and start from scratch on the inside.

The last fixer is in Cheviot Hills at 2607 Aiken Ave, LA CA 90064. According to the MLS, the home is a 3 bedroom / 1.75 bath, 1,773 sq of living space on a 6,680 sq ft lot. The only reason I say this home is a fixer is because of the original condition, however it is very clean and livable.  I can appreciate the original period detailing throughout and would do my best to capture that in a remodel with this house. Because the home is on a corner lot and is set back a bit from the street, this takes away from having a large backyard. Most of the yard is in the front, with just a small patch of grass in the back. According to the private remarks, they will be looking at offers starting November 10th. Asking price is $975,000.