Some quick facts on The LOH:
The Space
Bedrooms: 2
Bathrooms: 1
Square feet: 796
Lot square feet: 4900 (0.1 acres)
Yards: 2 (The Upper Yard and The Lower Garden & Orchard)
Location: a tiny culdesac in the El Sereno neighborhood of Northeastern Los Angeles
Year built: 1925
Style: Spanish Revival/Craftsman Transitional

The Endgame
Bedrooms: 4
Bathrooms: 2
Square feet: 1170

The Numbers
Our purchase price: $186,500 (a steal for Los Angeles) after an extensive search including 83 foreclosures
Previous owners’ purchase price: $365,000
Approximate cost of reno, expansion, and landscaping: $115,000 – $170,000
Average price of a 4 bed 2 bath turn-key home in El Sereno as of 05/12/11: $539,000
Total dollars we’ll spend (purchase & reno): $301,500 – $356,500
Dollars spent as of 05/12/11 (purchase & reno): $65,000
Monthly mortgage payment: $769 (We rented our last apartment for $1795/month.)
Interest rate: 4.65%
Taxes: $2330 per year ($192 per month)

Let’s get going!