4533 Grimes Place, Encino, California 91316, Encino, 91316 - 5 bed, 6 bath

4533 Grimes Place, Encino, California 91316 home-pic-0
ACTIVE$5,000,000
4533 Grimes Place, Encino, California 91316
5Beds
6Baths
6,270Sqft
34,850Lot
Year Built
2008
Close
-
List price
$5M
Original List price
$5M
Price/Sqft
$797
HOA
-
Days on market
-
Sold On
-
MLS number
24383455
Home ConditionGood
Features
Good View: City Lights, Trees/Woods
Deck
ViewCity Lights,Trees/Woods

About this home

Possibly Over-Priced:The estimated price is 8% below the list price. We found 3 Cons,6 Pros. Rank: price - $5.00M(90th), sqft - 6270(90th), beds - 5(72th), baths - 6(82th).

Seller financing 20% down! Lake Encino Area. Contemporary Mediterranean Mansion. Incredible curb appeal! 5 bedrooms/6 baths. All large ensuite bedrooms with walk-in or tremendous closet space! Valley views from almost every window. Enter this glamorous home jeweled with ornate ironwork to a tremendous grand lobby area with extremely high ceilings, a fireplace, and access to the backyard. Framed with a set of curved stone-encrusted and iron-accented staircases. One on side of the lobby enters the elegant formal living room with several windows to allow light to pour in and another fireplace. On the other side of the lobby enter the oversized dining room to accommodate celebrations, holidays, religious services, etc. Adjacent is the informal flex room which can be best used as an informal family room, theater, gym, etc! The custom kitchen is adorned with top-of-the-line stainless steel appliances, high-quality cabinets, granite countertops, a large center island, and a separate eat-at counter. The Primary SUITE has its own wing with private dual baths, closets, water closets, custom vanities, and its own balcony. The current seller has started a pool/spa yet never finished. There is room to expand the yard on the property without too much work. 4-car garage, additional driveway parking, and ample street parking available. Close to every amenity imaginable, including supermarkets, gyms, coffee spots, etc etc. A True Entertainer's Paradise! The current tenant paying $20K/mo. VERY MOTIVATED SELLER. Offers subject to interior inspection. TENANT OCCUPIED...Delivered vacant at close of escrow.

Condition Rating
Good

Built in 2008, this property falls within the 10-20 year age range for a 'good' rating. The custom kitchen features top-of-the-line stainless steel appliances, high-quality dark wood cabinets, and granite countertops, all appearing well-maintained and functional, though reflecting a 2008 aesthetic rather than a brand-new renovation. Bathrooms, including the primary suite's dual baths, also showcase custom vanities, granite, and quality finishes consistent with a luxury build of its era. The overall interior, with high ceilings, ornate ironwork, and good flooring (likely a mix of tile and carpet as seen in images), shows minimal wear and tear and is move-in ready. While the pool/spa is unfinished, this is an exterior element and does not detract from the excellent interior condition of the home itself.
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 = 34850, living area = 6270.
Seller Financing Option: The availability of seller financing with 20% down significantly broadens the buyer pool and offers a flexible purchasing option.
Luxury Design & Features: This Contemporary Mediterranean Mansion boasts incredible curb appeal, ornate ironwork, grand lobby with high ceilings, stone-encrusted staircases, and a custom kitchen with top-of-the-line appliances and granite countertops.
Strong Income Potential: Currently tenant-occupied with a substantial rental income of $20,000 per month, offering immediate investment return or mortgage offset.
Spacious & Versatile Layout: Features 5 large ensuite bedrooms with ample closet space, an oversized dining room, a flexible informal room (theater/gym), and a private primary suite wing with dual baths and a balcony.
Desirable Location & Views: Situated in the prestigious Lake Encino Area with valley views from almost every window and convenient access to numerous amenities.

Cons

Unfinished Pool/Spa: The pool and spa area has been started but not completed, requiring additional investment and construction to finalize.
Potential Overpricing: The listing price is 8% above the property's estimated value, and the seller is noted as 'very motivated,' suggesting potential pricing challenges.
Tenant Occupancy Logistics: While delivered vacant at close of escrow, the current tenant occupancy may complicate initial showings and interior inspections for potential buyers.

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