18522 Wells Drive, Tarzana, California 91356, Tarzana, 91356 - 3 bed, 2 bath
ACTIVE$1,699,000
18522 Wells Drive, Tarzana, California 91356
3Beds
2Baths
2,070Sqft
10,294Lot
Year Built
1947
Close
-
List price
$1.7M
Original List price
$1.8M
Price/Sqft
$821
HOA
-
Days on market
-
Sold On
-
MLS number
SR25072750
Home ConditionPoor
Features
View-
About this home
Possibly Over-Priced:The estimated price is 31% below the list price. We found 3 Cons,6 Pros. Rank: price - $1.70M(40th), sqft - 2070(25th), beds - 3(26th), baths - 2(22th).
PRICE TO SELL! Calling all investors and developers—this is your chance to seize a fixer-upper with massive potential in one of Tarzana’s most coveted streets, S.O. Blvd! This property boasts over 2,000 sqft of living space on a generous 10,000+ sqft flat lot, making it the perfect canvas for a high-value transformation. Whether you choose to remodel or construct a brand-new masterpiece, this home is poised for its next exciting chapter. Don’t miss out on this rare opportunity! Home is being sold as is and no repairs will be made.
Nearby schools
3/10
Tarzana Elementary School
Public,•K-5•1.0mi
3/10
Vanalden Avenue Elementary School
Public,•K-5•1.5mi
6/10
Newcastle Elementary School
Public,•K-5•1.9mi
8/10
Lanai Road Elementary School
Public,•K-5•2.7mi
6/10
Gaspar De Portola Middle School
Public,•6-8•0.4mi
5/10
William Mulholland Middle School
Public,•6-8•2.6mi
3/10
William Mulholland Middle School
Public,•6-8•2.8mi
5/10
Woodland Hills Charter Academy
Public,•6-8•2.9mi
4/10
Reseda Senior High School
Public,•9-12•1.9mi
Condition Rating
Poor
Built in 1947, this property is explicitly marketed as a 'fixer-upper with massive potential' and is being sold 'as is, no repairs will be made.' While the kitchen shows some cosmetic updates (white shaker cabinets, newer countertops, wood-look flooring, stainless steel fridge), the overall condition, particularly the dilapidated garage structure visible in the images, suggests substantial repairs and rehabilitation are required. The description implies major components and systems likely need significant attention, aligning with the 'poor' condition criteria.
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 = 10294, living area = 2070.
Prime Location: Located on 'S.O. Blvd,' one of Tarzana's most coveted streets, offering high desirability and potential for appreciation.
Significant Development Potential: Marketed as a 'fixer-upper with massive potential' for high-value transformation, appealing to investors and developers.
Large, Flat Lot: A generous 10,000+ sqft flat lot provides ample space for expansion, landscaping, or new construction.
Substantial Living Space: Over 2,000 sqft of existing living space offers a solid foundation for renovation or redesign.
Recent Price Reduction: The property has seen a price reduction from its original listing, potentially indicating increased value for buyers.
Cons
Extensive Renovation Required: Explicitly described as a 'fixer-upper' and sold 'as is,' necessitating significant investment in repairs and modernization.
Advanced Age of Structure: Built in 1947, the property is likely to require comprehensive updates to its core systems (e.g., plumbing, electrical, HVAC) and finishes.
Valuation Discrepancy: The estimated property value is significantly lower than the current list price, which may impact financing or perceived immediate equity.