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13559 Burbank Boulevard, Van Nuys, California 91401, Van Nuys, 91401 - 3 bed, 3 bath

13559 Burbank Boulevard, Van Nuys, California 91401 home-pic-0
ACTIVE$2,099,999
13559 Burbank Boulevard, Van Nuys, California 91401
3Beds
3Baths
1,822Sqft
6,514Lot
Year Built
1947
Close
-
List price
$2.1M
Original List price
$2.1M
Price/Sqft
$1,153
HOA
-
Days on market
-
Sold On
-
MLS number
25521165
Home ConditionPoor
Features
View-

About this home

Possibly Over-Priced:The estimated price is 15% below the list price. We found 3 Cons,5 Pros. Rank: price - $2.10M(86th), sqft - 1822(44th), beds - 3(50th), baths - 3(50th).

This incredible property offers an outstanding investment opportunity in a highly sought-after location. Zoned R3, this parcel allows you to build over 10 units by right, making it an ideal choice for developers and investors looking to capitalize on the growing demand for multi-family living spaces. With its versatile zoning, the possibilities are endlesswhether you're planning a sleek apartment complex, townhomes, or other multi-unit residential properties. The location provides convenient access to local amenities, public transport, and major roadways, ensuring strong rental demand and long-term value.Don't miss out on this rare opportunity to create something special in a rapidly developing area.

Condition Rating
Poor
The property was built in 1947, making it 77 years old. While the interior images display recent cosmetic updates to the kitchen (white shaker cabinets, stainless steel appliances, modern countertops) and bathroom (modern vanity, dark tile shower, glass enclosure), the MLS description explicitly states that the existing home holds 'little intrinsic value for a buyer seeking a move-in ready residence.' The listing heavily emphasizes the R3 zoning and development potential, suggesting the property's value is primarily in the land and that the existing structure is 'likely requiring demolition or extensive renovation.' This indicates that despite the visible cosmetic improvements, the overall condition of the structure and its major systems likely requires substantial repairs or rehabilitation for residential use, aligning with a 'Poor' condition score.
Pros & Cons

Pros

Exceptional Development Potential: Zoned R3, this parcel allows for the construction of over 10 multi-family units, presenting a significant opportunity for developers and investors.
Strategic Investment Opportunity: The property is highlighted as an outstanding investment, ideal for capitalizing on the growing demand for multi-family living spaces.
Versatile Zoning: The R3 zoning offers flexibility for various multi-unit residential projects, including apartment complexes, townhomes, or other multi-unit properties.
Prime Location with Strong Demand: Situated in a highly sought-after area with convenient access to local amenities, public transport, and major roadways, ensuring strong rental demand.
Location in Rapidly Developing Area: The property is located in a rapidly developing area, suggesting potential for significant long-term value appreciation and growth.

Cons

Significant Premium Over Estimated Value: The list price is 15% higher than the estimated value for a single-family residence, indicating the premium is for its development potential rather than the existing structure.
Age of Existing Structure: Built in 1947, the current single-family home is old, likely requiring demolition or extensive renovation for multi-unit development, which adds to project costs.
Focus on Land Value, Not Existing Home: The property description entirely emphasizes development potential, providing no details or positive attributes of the existing 3-bed, 3-bath home, suggesting it holds little intrinsic value for a buyer seeking a move-in ready residence.

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