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5052 Newcastle Avenue, Encino, California 91316, Encino, 91316 - 4 bed, 2 bath

5052 Newcastle Avenue, Encino, California 91316 home-pic-0
ACTIVE$1,499,500
5052 Newcastle Avenue, Encino, California 91316
4Beds
2Baths
2,079Sqft
6,029Lot
Year Built
1948
Close
-
List price
$1.5M
Original List price
$1.5M
Price/Sqft
$721
HOA
-
Days on market
-
Sold On
-
MLS number
24464013
Home ConditionPoor
Features
View-

About this home

Possibly Over-Priced:The estimated price is 36% below the list price. We found 3 Cons,5 Pros. Rank: price - $1.50M(52th), sqft - 2079(47th), beds - 4(50th), baths - 2(40th).

Exceptional fixer-upper with unlimited potential, south of Ventura Blvd. This charming 4bed/2bath home is nestled in a highly sought-after neighborhood with multi-million dollar estates. The property offers a fantastic opportunity to remodel or rebuild. Set on a generous sized, flat lot with grassy yard, and a long gated driveway. The detached garage provides the potential for an ADU, guest house, or additional living space, perfect for generating rental income, hosting guests, or a home office. Don't miss this rare chance to create your dream home in a location that offers both luxury and convenience.

Condition Rating
Poor
The property, built in 1948, is explicitly described as an 'exceptional fixer-upper with unlimited potential' and an 'opportunity to remodel or rebuild.' This indicates a need for substantial repairs and rehabilitation, aligning with the 'poor' condition criteria. The absence of any interior images, particularly of the kitchen and bathrooms, strongly suggests these areas are in very outdated or dilapidated condition, requiring extensive renovation. The exterior images show an older home that has not been recently updated. While 'rebuild' is mentioned as an option, the term 'remodel' implies it's not necessarily beyond repair, but certainly requires significant investment to meet modern standards.
Pros & Cons

Pros

Prime Location: Situated south of Ventura Blvd in a highly sought-after neighborhood surrounded by multi-million dollar estates, offering prestige and desirability.
Significant Development Potential: Described as an 'exceptional fixer-upper with unlimited potential' and a 'fantastic opportunity to remodel or rebuild,' appealing to buyers looking to customize or develop.
ADU/Income Potential: The detached garage offers clear potential for conversion into an Accessory Dwelling Unit (ADU), guest house, or home office, providing flexibility and potential rental income.
Generous & Flat Lot: Features a generous-sized, flat lot (6029 sqft) with a grassy yard, providing ample space for expansion, landscaping, or outdoor amenities.
Privacy & Security: A long, gated driveway enhances privacy and security, a desirable feature in any neighborhood.

Cons

Extensive Renovation Required: Explicitly marketed as a 'fixer-upper,' indicating the property requires significant investment in remodeling or rebuilding to meet modern standards and buyer expectations.
Outdated Structure: Built in 1948, the home is likely to have older systems and an outdated design, necessitating substantial upgrades beyond cosmetic improvements.
Potential Overpricing Relative to Current Condition: The listing price of $1,499,500 is significantly higher than the estimated property value of $952,692.73 (a -36% estimation ratio), suggesting it may be priced for its 'potential' rather than its current 'as-is' state, which could deter some buyers.

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