Charming duplex on beautiful tree lined street in desirable Lake Balboa. A legal duplex with two completely separate houses. High rental income at a relatively low purchase price.
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House Like Freestanding Duplex Lease Available
Lying in a great central Melrose & La Brea location, this rear freestanding duplex has just been remodeled and is available for immediate move in. The house like property features an open floor plan, large bathroom, lots of windows, and a relaxing back patio in addition to a huge grassy side yard. Also comes with a private one car garage. A mixture of features rarely found in this price range and great walkable location. Available for immediate move in.
608 N Detroit St, Los Angeles
2 Beds | 1 Baths
1,150 sq. ft (approx)
$3,250/mo
Listing & Pictures by Eric Smilay
If you would like to see this property in person, please feel free to contact us anytime @310.600.9172 or email eric@smilayproperties.com. We would be happy to assist!
Major Retaining Wall & Foundation Issues
I showed a contractor client this duplex in Silver Lake this week. It is on a great street in a great location with views (you can see the Hollywood Sign off in the distance in the last picture), but there is a ton of issues with it. Not only does the foundation need bracing, but more immediately there is an approximately 100' long 10' tall retaining wall in the backyard that could crumble at any moment. This wall separates the hillside of the neighboring property, and if it goes literally the neighbors house could slide into this properties yard. As you can see it has been braced about halfway up, but with the huge cracks in it, I could see the tops of it crumbling. This could happen in days, month's, or maybe a year, but it will definitely happen if not addressed. On top of that because of the foundation, the entire house and stairs are leaning and it will only continue to get worse over time.
Huge crack in the retaining wall
Notice how much it actually leans
Pictures by Eric Smilay for Smilay Properties
Of course all of this is fixable, but will cost a considerable amount of money, time, and effort. Where most will see a huge problem, I am sure the right buyer (hopefully my client) will see it as an opportunity. Since in this condition the property will not be able to be financed, it will require an experienced contractor or investor with the ability to make the purchase and repairs in all cash. It would only makes sense to take a project like this on though if the price is right.
Recent Home I Sold Back on Market as a Flip
I sold this property back in the middle of April, and it has been redone, upgraded, spiffed up and now it is back on the market. When I sold it, the home had many more issues then just aesthetic, so the Seller had to put in significant capital in order to bring this home back to the glamour of it's 1920's roots. It appears that they did a nice job on the property, and quick. Compare the pictures here with the way it was before. The wood flooring in the living and family rooms were a great addition. I love what they did with the fireplace in particular, as it looks so much better in it's current state. They of course painted a clean white throughout, took down the questionable art, and staged the property with nice furnishings; all of which go a very long way during the Buyer's first impression. They also put in all new white cabinetry and grey Caesarstone counters in the kitchen, which look much much better. The master bathroom also looks many times better now with it's dual sinks, and new tile work. The property always had potential, but just needed someone with the know how and energy to bring the home back.
What do you think of the remodel, and will the Seller get their asking price?
3249 Bennett Dr, Hollywood Hills
$1,049,000 4 Bed 4 Bath 2,458 Sq. Ft. 4,930 Lot Sq. Ft.
Listing & Photos courtesy of Courtney N Smith & Kurt Wisner - Nourmand & Associates
Obviously, I have spent a considerable amount of time at this property, so know it and the street very well. In addition to the 3 bed/3 bath main house, there is a 1 bed/1 bath guest apartment with kitchen and it's own private entrance, as it is a legal duplex. This could help pay the mortgage, or great for an office or artist's studio. If you would like to see this newly redone Spanish style home in person, please contact us anytime @ 310.600.9172 or email smilayproperties@gmail.com.