5320 Otis Avenue, Tarzana, California 91356, Tarzana, 91356 - 5 bed, 3 bath

5320 Otis Avenue, Tarzana, California 91356 home-pic-0
ACTIVE$1,875,000
5320 Otis Avenue, Tarzana, California 91356
5Beds
3Baths
2,834Sqft
7,478Lot
Year Built
1999
Close
-
List price
$1.88M
Original List price
$2M
Price/Sqft
$662
HOA
-
Days on market
-
Sold On
-
MLS number
24414003
Home ConditionGood
Features
Pool
Spa
Patio
View-

About this home

Possibly Over-Priced:The estimated price is 23% below the list price. We found 3 Cons,5 Pros. Rank: price - $1.88M(52th), sqft - 2834(44th), beds - 5(64th), baths - 3(50th).

Priced to sell! Prime Tarzana 5-Bedroom Entertainer's Pool Home South of the Blvd. Don't miss this incredible opportunity to own a beautifully maintained, move-in-ready 5-bedroom, 3-bath home in one of Tarzana's most desirable South of the Boulevard locations with everything you need steps away. This meticulously cared-for home features high ceilings, rich hardwood floors, and an open, inviting layout. The dramatic two-story living room with stacked-stone fireplace flows seamlessly to the dining area and spacious family room, all centered around an absolutely stunning, designer-remodeled chef's kitchen outfitted with top-tier stainless appliances and custom finishes. Step outside to your own private resort-style yard: a lush, extra-deep entertainer's paradise with a sparkling gated pool and spa, sprawling turf lawn, a charming cabana, and mature bougainvillea hedges creating ultimate privacy. Upstairs, you'll find four generously sized bedrooms, including a lovely primary retreat with its own sitting room, double-sided fireplace, walk-in closet, and luxurious spa-inspired bath with dual vanities. A downstairs bedroom with full bath offers perfect flexibility for multigenerational living, guests, or a private office. Other highlights include direct-access two-car garage, ample storage, and dual HVAC systems. Best of all, you'll be just steps from the endless dining, shopping, and amenities of Ventura Boulevard. Highly regarded public and private schools, houses of worship, and easy freeway access for unbeatable convenience. If you've been waiting for the perfect Tarzana home at the right price, this is your moment.

Nearby schools

3/10
Tarzana Elementary School
Public,K-50.8mi
3/10
Vanalden Avenue Elementary School
Public,K-51.2mi
6/10
Newcastle Elementary School
Public,K-51.6mi
8/10
Lanai Road Elementary School
Public,K-52.8mi
6/10
Gaspar De Portola Middle School
Public,6-80.4mi
5/10
William Mulholland Middle School
Public,6-82.4mi
3/10
William Mulholland Middle School
Public,6-82.5mi
5/10
Woodland Hills Charter Academy
Public,6-82.9mi
4/10
Reseda Senior High School
Public,9-121.6mi
Condition Rating
Good

Built in 1999, this home is beautifully maintained and move-in ready. The description highlights a 'designer-remodeled chef's kitchen' with 'top-tier stainless appliances' and a 'luxurious spa-inspired bath.' While the style of these updates (e.g., granite countertops, mosaic backsplash in kitchen, travertine-like tile in primary bath, and a more traditional secondary bath) appears to be from 10-15 years ago rather than a brand-new renovation, they are still of good quality and functional. The property features rich hardwood floors throughout, dual HVAC systems, and a well-kept exterior with a pool and turf lawn. It meets the 'Good' criteria of being move-in ready with well-maintained systems and updates within the 5-15 year range, even if not a full recent renovation to current cutting-edge trends.
Pros & Cons

Pros

Prime South of the Boulevard Location: The property boasts a highly desirable Tarzana location, South of the Boulevard, offering immediate access to Ventura Boulevard's extensive dining, shopping, and amenities, along with proximity to highly regarded schools and easy freeway access.
Resort-Style Outdoor Living: The extra-deep, private backyard is an entertainer's paradise, featuring a sparkling gated pool and spa, sprawling turf lawn, a charming cabana, and mature bougainvillea hedges ensuring ultimate privacy.
Designer-Remodeled Chef's Kitchen: The home features an absolutely stunning, designer-remodeled chef's kitchen, outfitted with top-tier stainless appliances and custom finishes, serving as a central hub for cooking and entertaining.
Versatile Downstairs Bedroom: A convenient downstairs bedroom with a full bath provides excellent flexibility for multigenerational living, accommodating guests, or serving as a private home office.
Move-in Ready & Well-Maintained: Described as beautifully maintained and move-in ready, the home features high ceilings, rich hardwood floors, and an open, inviting layout, minimizing immediate renovation needs for buyers.

Cons

Significant Overpricing Relative to Market Estimation: The current list price of $1,875,000 is substantially higher than the property's estimated value of $1,437,926, indicating a potential disconnect with current market valuations and possibly deterring buyers.
Lack of Desirable Views: The property explicitly states 'None' for views, which can be a disadvantage in a competitive market where properties with scenic outlooks often command higher prices and are more appealing to certain buyers.
Recent Price Reduction: The property has already undergone a price reduction from its original list price of $1,995,000, which might signal to potential buyers that the initial pricing was too high or that the seller is highly motivated, potentially leading to lower offers.

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