10539 Floralita Avenue, Sunland, California 91040, Sunland, 91040 - bed, bath
ACTIVE$1,099,000
10539 Floralita Avenue, Sunland, California 91040
0Bed
0Bath
2,700Sqft
12,603Lot
Year Built
1941
Close
-
List price
$1.1M
Original List price
$1.25M
Price/Sqft
$407
HOA
-
Days on market
-
Sold On
-
MLS number
SR25020767
Home ConditionTear down
Features
Good View:
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.10M(50th), sqft - 2700(50th), beds - undefined(50th), baths - undefined(50th).
4-unit Income Property; two 2-bedroom one bath units plus one duplex. Fully occupied long term tenants with large lot. Great income potential due to the privacy of the lot and location. Drive by only. Potential development opportunity or investment. Buyer to verify all info. Property to be sold as is. LAR3 zoning. Make an offer today!
Nearby schools
6/10
Sunland Elementary School
Public,•K-5•0.3mi
5/10
Apperson Street Elementary School
Public,•K-5•0.8mi
5/10
Brainard Elementary School
Public,•K-5•2.8mi
5/10
Stonehurst Avenue Elementary School
Public,•K-5•3.0mi
5/10
Mt. Gleason Middle School
Public,•6-8•1.1mi
3/10
Charles Maclay Middle School
Public,•6-8•5.0mi
6/10
Verdugo Hills Senior High School
Public,•9-12•1.2mi
Condition Rating
Tear down
Built in 1941, this property is 83 years old with no evidence of major renovations in the past 50 years. The 'as-is' sale condition and 'drive by only' access strongly suggest significant deferred maintenance and outdated infrastructure/systems. The exterior images show considerable wear, cracked concrete, and aged utility components. The listing emphasizes 'potential development opportunity' and 'LAR3 zoning,' indicating the property's value is primarily in the land, consistent with a tear-down assessment for the existing structures.
Pros & Cons
Pros
Multi-Unit Income Property: A 4-unit quadruplex (two 2-bedroom/1-bath units plus one duplex) provides immediate rental income and diversification for an investor.
Stable Occupancy: The property is fully occupied with long-term tenants, ensuring consistent cash flow and minimizing vacancy risk for a new owner.
Significant Development Potential: LAR3 zoning combined with a substantial 12,603 sqft lot offers considerable opportunities for future expansion or redevelopment.
Attractive Price Adjustment: A notable price reduction from the original $1,249,000 to $1,099,000 indicates potential value and a motivated seller.
Desirable Lot Privacy: The description highlights the privacy of the lot and location, which can be a valuable asset for tenants and future property use.
Cons
As-Is Sale Condition: The property is sold 'as-is,' implying potential deferred maintenance, necessary repairs, or upgrades that a buyer would need to undertake, adding to initial investment costs.
Restricted Property Access: The 'drive by only' instruction severely limits due diligence, preventing interior inspections and increasing risk for potential buyers regarding property condition and tenant situations.
Advanced Property Age: Built in 1941, the property is over 80 years old, suggesting potential for outdated infrastructure, systems, and higher ongoing maintenance expenses compared to newer constructions.