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702 S Mariposa Street, Burbank, California 91506, Burbank, 91506 - 3 bed, 2 bath

702 S Mariposa Street, Burbank, California 91506 home-pic-0
ACTIVE$1,075,000
702 S Mariposa Street, Burbank, California 91506
3Beds
2Baths
1,293Sqft
6,500Lot
Year Built
1952
Close
-
List price
$1.07M
Original List price
$1.07M
Price/Sqft
$831
HOA
-
Days on market
-
Sold On
-
MLS number
BB25235201
Home ConditionPoor
Features
Good View: Mountain(s)
Patio
ViewMountain(s)

About this home

Possibly Over-Priced:The estimated price is 3% below the list price. We found 3 Cons,5 Pros. Rank: price - $1.07M(23th), sqft - 1293(26th), beds - 3(50th), baths - 2(50th).

Preference is to sell this property along with the adjacent property at 700 S Mariposa as the two provide the potential for multi-generational living or a family compound or possible development (check with City of Burbank). Combination of both parcels is more than 37000 square feet per appraisals and public records. Major fixer as it stands alone; tenant occupied by same tenant for more than 40 years. The "living quarters" located at the rear of this property/parcel (Buyer to check permit status.) was utilized as a residence for the barn man/caretaker for the equestrian facilities, most of which are on the adjacent property at 700 S Mariposa.

Price History

Date
Event
Price
11/03/25
Listing
$1,075,000
Condition Rating
Poor
Built in 1952, this property is explicitly described as a 'Major fixer.' The images confirm extensive deferred maintenance with severely worn and discolored hardwood floors, damaged walls and ceilings, and very outdated light fixtures and ceiling fans. The overall condition indicates no significant renovations in decades, requiring substantial repairs and rehabilitation throughout, including likely major updates to the kitchen and bathrooms, to make it habitable and up to modern standards.
Pros & Cons

Pros

Significant Development Potential: The property offers explicit potential for development, especially when combined with the adjacent parcel, creating a substantial land area exceeding 37,000 square feet in a desirable Burbank location.
Large Combined Lot Size Potential: The option to acquire both parcels (702 S Mariposa and 700 S Mariposa) provides a rare opportunity for a combined lot size of over 37,000 square feet, offering significant flexibility for various uses or a large estate.
Prime Burbank Location: Located in Burbank, a highly sought-after Southern California city known for its strong real estate market, excellent schools (Burbank Unified), and desirable community amenities.
Mountain Views: The property benefits from desirable mountain views, enhancing its aesthetic appeal and contributing to its overall market value.
Unique Multi-Generational/Family Compound Opportunity: When purchased with the adjacent property, it presents a unique opportunity to create a multi-generational living arrangement or a large family compound, a rare offering in an urban setting.

Cons

Major Fixer-Upper Condition: The property is explicitly described as a 'Major fixer,' indicating it requires extensive and costly renovations or a complete rebuild, adding significant investment beyond the purchase price.
Long-Term Tenant Occupancy: A tenant has occupied the property for over 40 years, which presents considerable challenges for a buyer aiming for immediate occupancy, renovation, or redevelopment due to potential legal complexities and costs associated with tenant relocation or eviction.
Potential Unpermitted Structures: The presence of 'living quarters' at the rear with a caveat for the buyer to 'check permit status' strongly suggests these structures may be unpermitted, potentially leading to legal issues, fines, or demolition expenses.

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