7927 Paso Robles Avenue, Van Nuys, California 91406, Van Nuys, 91406 - 2 bed, 1 bath
ACTIVE$998,000
7927 Paso Robles Avenue, Van Nuys, California 91406
2Beds
1Bath
1,242Sqft
14,099Lot
Year Built
1947
Close
-
List price
$998K
Original List price
$998K
Price/Sqft
$804
HOA
-
Days on market
-
Sold On
-
MLS number
224004629
Home ConditionTear down
Features
Patio
View-
About this home
Possibly Over-Priced:The estimated price is 28% below the list price. We found 3 Cons,7 Pros. Rank: price - $998.0K(71th), sqft - 1242(29th), beds - 2(14th), baths - 1(23th).
Calling ALL INVESTORS!! Land! Land! Land! Outstanding Lake Balboa Location. Unlimited Possibilities & Endless Opportunities All On An Enormous 14,094 SqFt Lot In A Fantastic Lake Balboa Neighborhood. Ultra Rare Chance. Fabulous As-Is Or Create Your Dream Home Here. Great Location. Close To Everything. Opportunity At Its Best. Do Not Miss. Rare Offering. Check out AB 1033 to see the endless potential of the number of homes or ADU's that can be built on this property!!
Nearby schools
7/10
Stagg Street Elementary School
Public,•K-5•0.2mi
6/10
Lorne Street Elementary School
Public,•K-5•0.6mi
3/10
Anatola Avenue Elementary School
Public,•K-5•1.0mi
3/10
Anatola Avenue Elementary School
Public,•K-5•1.0mi
3/10
Gault Street Elementary School
Public,•K-5•1.1mi
3/10
Gault Street Elementary School
Public,•K-5•1.1mi
5/10
Cantara Street Elementary School
Public,•K-5•1.3mi
6/10
Lemay Street Elementary School
Public,•K-5•1.6mi
5/10
Lemay Street Elementary School
Public,•K-5•1.7mi
3/10
Bertrand Avenue Elementary School
Public,•K-5•1.7mi
3/10
Bassett Street Elementary School
Public,•PK-5•2.0mi
4/10
Bassett Street Elementary School
Public,•K-5•2.0mi
4/10
Sylvan Park Elementary School
Public,•K-5•3.2mi
9/10
Kester Avenue Elementary School
Public,•K-5•4.2mi
3/10
Northridge Middle School
Public,•6-8•1.4mi
3/10
William Mulholland Middle School
Public,•6-8•1.4mi
5/10
William Mulholland Middle School
Public,•6-8•1.7mi
2/10
Van Nuys Middle School
Public,•6-8•4.3mi
4/10
Reseda Senior High School
Public,•9-12•2.3mi
7/10
Northridge Academy High
Public,•9-12•2.4mi
5/10
Valley Academy Of Arts And Sciences
Public,•9-12•3.1mi
5/10
Valley Academy Of Arts And Sciences
Public,•9-12•3.2mi
6/10
Van Nuys Senior High School
Public,•9-12•3.3mi
Condition Rating
Tear down
Built in 1947, the property's listing description explicitly focuses on the 'Land! Land! Land!' and 'unlimited possibilities & endless opportunities' for redevelopment, including potential ADUs under AB 1033. The phrase 'Fabulous As-Is Or Create Your Dream Home Here' combined with the complete absence of interior images (especially kitchen and bathrooms) strongly suggests the existing structure is considered a tear-down, with the value residing solely in the large lot for new construction or extensive rehabilitation. The property analysis also highlights an 'Outdated and Small Structure' and an 'Implied 'As-Is' Sale'.
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 = 14099, living area = 1242.
Great Schools: Elementary School: Kester Avenue Elementary School (9/10).
Exceptional Lot Size: The property boasts an enormous 14,099 SqFt lot, offering significant space for expansion, multiple units, or complete redevelopment.
High Development Potential: Explicitly marketed for investors with 'unlimited possibilities' and 'endless opportunities' for multiple homes or ADUs under AB 1033.
Prime Lake Balboa Location: Situated in an 'Outstanding Lake Balboa Location' and 'Fantastic Lake Balboa Neighborhood,' offering desirable proximity to amenities.
Investor-Centric Opportunity: The listing is clearly positioned for investors, highlighting its potential for high returns through redevelopment or value-add strategies.
Flexibility for Customization: Offers the rare chance to either renovate the existing structure or 'Create Your Dream Home Here' on a substantial parcel.
Cons
Significant Overpricing: The current list price of $998,000 is substantially higher (28% above) the estimated property value and recent comparable sales, potentially deterring buyers.
Outdated and Small Structure: The 1947-built, 2-bed, 1-bath, 1242 SqFt home is small and likely requires extensive renovation or demolition, adding considerable cost to any project.
Implied 'As-Is' Sale: The 'Fabulous As-Is' phrasing, combined with the property's age and investor focus, suggests the property is sold without seller repairs, implying potential deferred maintenance or necessary upgrades.