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1165 Mcknight Road, Newbury Park, California 91320, Newbury Park, 91320 - 3 bed, 4 bath

1165 Mcknight Road, Newbury Park, California 91320 home-pic-0
ACTIVE$999,999
1165 Mcknight Road, Newbury Park, California 91320
3Beds
4Baths
1,664Sqft
10,018Lot
Year Built
1948
Close
-
List price
$1,000K
Original List price
$1,000K
Price/Sqft
$601
HOA
-
Days on market
-
Sold On
-
MLS number
225000764
Home ConditionFair
Features
Good View: Mountain(s), Panoramic
Deck
ViewMountain(s), Panoramic

About this home

Possibly Over-Priced:The estimated price is 41% below the list price. We found 3 Cons,7 Pros. Rank: price - $1000.0K(40th), sqft - 1664(28th), beds - 3(38th), baths - 4(85th).

Incredibly unique opportunity!!Awesome panoramic views of the Conejo Valley from this great location. Investors Dream!!This properties main house is 2+2 plus an attached 1+1 ADU above the garage with a separate entrance and a garage studio apartment with a bath. The main house has great panoramic views with a lot size over 10,000 square feet with many fruit trees. This large flat lot has endless possibilities. Main house has a spacious living room area with a fireplace and vaulted ceilings. Kitchen with tile counters. There is a private courtyard off the kitchen. Spacious primary bedroom with vaulted ceilings with a slider leading out to the patio area with incredible views. ADU above the garage also has good views. This is truly a unique opportunity!!

Nearby schools

5/10
Acacia Elementary School
Public,•K-5•2.4mi
6/10
Aspen Elementary School
Public,•K-5•2.4mi
6/10
Banyan Elementary School
Public,•K-5•3.0mi
9/10
Westlake Elementary School
Public,•K-5•3.7mi
6/10
Sequoia Middle School
Public,•6-8•1.9mi
6/10
Redwood Middle School
Public,•6-8•2.1mi
6/10
Colina Middle School
Public,•6-8•3.2mi
7/10
Newbury Park High School
Public,•9-12•2.9mi
7/10
Thousand Oaks High School
Public,•9-12•3.4mi
8/10
Westlake High School
Public,•9-12•5.1mi
Condition Rating
Fair
The property, built in 1948, features a kitchen with dated white tile countertops, older white appliances, and cabinets, suggesting a renovation 20-30+ years ago. The bathroom is also significantly outdated with seashell wallpaper, an older vanity, and light fixtures. While functional, these key areas require substantial aesthetic updates to meet current standards, aligning with the 'Fair' condition criteria for an aged home with outdated but maintained components.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 10018, living area = 1664.
Great Schools: Elementary School: Westlake Elementary School (9/10).
Exceptional Panoramic Views: The property offers awesome panoramic views of the Conejo Valley and mountains from the main house and ADU, significantly enhancing its appeal.
Significant Income/Flexibility Potential: Includes an attached 1+1 ADU with a separate entrance and an additional garage studio apartment, providing substantial rental income opportunities or versatile multi-generational living options.
Large, Usable Lot: A spacious, flat lot over 10,000 square feet with fruit trees offers ample outdoor space and 'endless possibilities' for landscaping, expansion, or recreational use.
Unique Investment Opportunity: Marketed as an 'Investors Dream' and an 'Incredibly unique opportunity,' highlighting its potential for specific investment strategies or value-add projects.
Charming Architectural Details: The main house features a spacious living room with a fireplace, vaulted ceilings, and a primary bedroom with a slider leading to a view patio, adding character and appeal.

Cons

Substantial Price Discrepancy: The listing price of $999,999 is significantly higher than the estimated property value of $583,354.675, suggesting a potential overvaluation that could impact market appeal and sale duration.
Age and Potential for Extensive Renovation: Built in 1948, the property's age implies that many components and finishes may be original or dated, potentially requiring significant investment in modernization and upgrades beyond the mentioned 'tile counters' in the kitchen.
Compact Living Spaces: With 1664 sqft divided among a 2+2 main house, a 1+1 ADU, and a studio apartment, individual living areas within each unit are likely to be relatively small, which might not appeal to buyers seeking more expansive primary living quarters.

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