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10959 Memory Park Avenue, San Fernando, California 91345, San Fernando, 91345 - 3 bed, 2 bath

10959 Memory Park Avenue, San Fernando, California 91345 home-pic-0
ACTIVE$985,000
10959 Memory Park Avenue, San Fernando, California 91345
3Beds
2Baths
1,478Sqft
10,806Lot
Year Built
1924
Close
-
List price
$985K
Original List price
$985K
Price/Sqft
$666
HOA
-
Days on market
-
Sold On
-
MLS number
SR25251498
Home ConditionGood
Features
ViewNeighborhood

About this home

We found 3 Cons,5 Pros. Rank: price - $985.0K(50th), sqft - 1478(50th), beds - 3(50th), baths - 2(50th).

RARE opportunity to secure a DUPLEX in Mission Hills near the 118 FWY on a QUARTER ACRE LOT. This lot size allows for the possibility for up to 6 units on the property per seller (buyer to verify). HUGE upside for investors or owner/operators. List price reflects a current 5% cap rate (per management company). Main home is a 2 bed 1 bath, recently remodeled. Updates include large format tile flooring, recessed lighting, newer appliances (installed October 31st, 2025). Second structure is a 1 bed 1 bath. There is a third structure that is unpermitted, as well as a detached 1-car garage. Water heater and A/C were updated in 2014. Come see while it’s available!

Price History

Date
Event
Price
11/05/25
Listing
$985,000
Condition Rating
Good
The main 2-bedroom unit has been recently remodeled with modern large format tile flooring, recessed lighting, and a contemporary kitchen featuring white shaker cabinets, quartz countertops, subway tile backsplash, and newer stainless steel appliances. Major systems like the water heater and A/C were updated in 2014, placing them within their expected lifespan. While the second 1-bedroom unit is significantly older and dated in style (as seen in its kitchen and flooring), and there's an unpermitted structure, the substantial recent renovation of the primary dwelling and functional major systems elevate the overall condition to 'Good'. The property is move-in ready for the main unit, with the second unit being functional but requiring updates to match modern standards.
Pros & Cons

Pros

Significant Development Potential: The quarter-acre lot offers the possibility to expand to up to 6 units, presenting substantial upside for investors and future value appreciation.
Established Income Property: Currently operating as a duplex with a stated 5% cap rate, providing immediate rental income and strong appeal for investors or owner-operators.
Recently Remodeled Main Unit: The primary 2-bedroom unit has been recently updated with modern finishes, including large format tile flooring, recessed lighting, and newer appliances.
Strategic Freeway Access: Conveniently located near the 118 FWY, enhancing accessibility for tenants and potentially increasing rental demand.
Versatile Investment Opportunity: The property's duplex status and development potential make it attractive to a broad range of buyers, from seasoned investors to owner-operators.

Cons

Unpermitted Structure: The presence of an unpermitted third structure poses legal and financial risks, requiring buyer resolution for compliance or removal.
Extensive Buyer Due Diligence Required: The significant development potential (up to 6 units) is 'per seller' and requires thorough buyer verification, adding complexity and risk to the acquisition process.
Age of Property & Potential Maintenance: Built in 1924, the property is older, suggesting potential for ongoing maintenance and system updates beyond the mentioned renovations.

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