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11636 Valley Spring Lane, Studio City, California 91604, Studio City, 91604 - 2 bed, 1 bath

11636 Valley Spring Lane, Studio City, California 91604 home-pic-0
ACTIVE$1,650,000
11636 Valley Spring Lane, Studio City, California 91604
2Beds
1Bath
1,178Sqft
6,864Lot
Year Built
1938
Close
-
List price
$1.65M
Original List price
$1.65M
Price/Sqft
$1,401
HOA
-
Days on market
-
Sold On
-
MLS number
24462765
Home ConditionTear down
Features
View-

About this home

Possibly Over-Priced:The estimated price is 19% below the list price. We found 3 Cons,6 Pros. Rank: price - $1.65M(24th), sqft - 1178(4th), beds - 2(13th), baths - 1(6th).

Welcome to an extraordinary development opportunity in Colfax Meadows, one of the best neighborhoods in Studio City! Situated on a generous 6,864 corner lot, LARD1.5 zoning, presents a canvas of possibilities for the creative investor or visionary developer to maximize the lot and build multiple units. The added convenience of a corner lot enhances the appeal, providing flexibility for design and construction. The main house (currently occupied), built in 1938, has 2 bedrooms and 1 bath. The permitted, guest unit, (approximately 600 sqft), built in 1935, is currently vacant and has a separate Troost address. Close to the Farmers Market, Tujunga Village, and Ventura Blvd for shopping and restaurants. Located in the coveted Carpenter Community Charter School. TENANT OCCUPIED. PLEASE DO NOT WALK THE PROPERTY.

Nearby schools

7/10
Rio Vista Elementary School
Public,•K-5•1.1mi
7/10
Toluca Lake Elementary School
Public,•K-5•1.7mi
9/10
Wonderland Avenue Elementary School
Public,•K-5•2.3mi
8/10
Valley View Elementary School
Public,•K-6•2.9mi
9/10
West Hollywood Elementary School
Public,•K-5•4.0mi
9/10
Warner Avenue Elementary School
Public,•K-5•5.9mi
6/10
Walter Reed Middle School
Public,•6-8•0.4mi
3/10
Hubert Howe Bancroft Middle School
Public,•6-8•5.0mi
6/10
Arroyo Seco Museum Science
Public,•K-8•10.9mi
8/10
North Hollywood Senior High School
Public,•9-12•1.3mi
3/10
East Valley Senior High School
Public,•9-12•1.9mi
6/10
Ulysses S. Grant Senior High School
Public,•9-12•2.7mi
6/10
Hollywood Senior High School
Public,•9-12•4.3mi
7/10
Fairfax Senior High School
Public,•9-12•4.6mi
6/10
University Senior High School
Public,•9-12•8.2mi
6/10
University Senior High School Charter
Public,•9-12•8.2mi
Condition Rating
Tear down
The main house (built 1938) and guest unit (built 1935) are both over 50 years old. The listing explicitly markets the property as an 'extraordinary development opportunity' and the property analysis states the existing structures are 'likely tear-downs or require substantial renovation.' There are no interior images provided, and the listing includes a strict 'PLEASE DO NOT WALK THE PROPERTY' instruction, strongly suggesting the current condition of the structures is unlivable or beyond repair, with the value primarily in the land and its development potential.
Pros & Cons

Pros

Great Schools: Elementary School: Warner Avenue Elementary School (9/10).
Development Opportunity & Zoning: The property is explicitly marketed as an 'extraordinary development opportunity' with LARD1.5 zoning on a generous 6,864 sqft lot, allowing for the construction of multiple units in a highly desirable area.
Prime Studio City Location: Located in 'Colfax Meadows, one of the best neighborhoods in Studio City,' offering excellent proximity to local amenities such as the Farmers Market, Tujunga Village, and Ventura Blvd for shopping and dining.
Corner Lot Advantage: The property's corner lot position enhances its appeal and provides greater flexibility for design, construction, and access, which is particularly beneficial for multi-unit development.
Permitted Guest Unit: Includes a permitted 600 sqft guest unit with a separate address, offering immediate rental income potential or additional flexibility for future development plans.
Coveted School District: Situated within the highly regarded Carpenter Community Charter School district, adding significant value and appeal to potential future residents.

Cons

Significant Overpricing: The current list price of $1.65 million is approximately 19% higher than the estimated property value of $1.33 million, suggesting a potential overvaluation that may deter buyers.
Tenant Occupied & Access Restrictions: The property is tenant-occupied with a strict 'DO NOT WALK THE PROPERTY' policy, which can complicate showings, inspections, and due diligence for prospective buyers, especially developers.
Age and Condition of Existing Structures: The main house (1938) and guest unit (1935) are very old, indicating they are likely tear-downs or require substantial renovation, adding significant costs and complexity to any development project.

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