8221 Whitsett Avenue, North Hollywood, California 91605, North Hollywood, 91605 - 3 bed, 1 bath
ACTIVE$899,950
8221 Whitsett Avenue, North Hollywood, California 91605
3Beds
1Bath
1,256Sqft
7,201Lot
Year Built
1953
Close
-
List price
$900K
Original List price
$900K
Price/Sqft
$717
HOA
-
Days on market
-
Sold On
-
MLS number
SR25040404
Home ConditionFair
Features
ViewNeighborhood
About this home
Possibly Over-Priced:The estimated price is 36% below the list price. We found 3 Cons,6 Pros. Rank: price - $900.0K(56th), sqft - 1256(29th), beds - 3(50th), baths - 1(15th).
Incredible investment opportunity in highly desirable North Hollywood neighborhood!!! Home features 3 bedrooms with over 1250 sqft of living space, large living room, updated kitchen with granite counters, large den being used as the 3rd bedroom, large back yard with approved plans for 2 ADU's (3 bed, 2 bath 1000 sqft & 2 bed 2 bath 800 sqft). Just minutes to schools, parks, major freeways, shopping and more. Live in the main home and build the ADU's for additional income. A MUST SEE!!!
Condition Rating
Fair
The property was built in 1953, making it over 70 years old. While the description mentions an 'updated kitchen with granite counters,' suggesting some renovation, the extent and recency of this update are not specified, and other major systems (like bathrooms, HVAC, electrical, plumbing) are not noted as recently updated. The presence of only one bathroom for three bedrooms is also a significant drawback for modern standards. The property is likely maintained and functional, but many components show signs of being outdated, requiring minor updates or repairs beyond the kitchen to meet contemporary expectations.
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 = 7201, living area = 1256.
Approved ADU Plans: The property comes with approved plans for two Accessory Dwelling Units (3 bed, 2 bath 1000 sqft & 2 bed, 2 bath 800 sqft), offering significant income potential and value addition.
Investment Opportunity: Explicitly marketed as an 'incredible investment opportunity' due to the ADU potential and desirable location, appealing to investors and owner-occupants seeking rental income.
Desirable Location: Situated in a 'highly desirable North Hollywood neighborhood,' minutes from schools, parks, major freeways, and shopping, enhancing its market appeal.
Updated Kitchen: The home features an updated kitchen with granite counters, providing a modern and functional space for daily living.
Large Backyard: The property boasts a large backyard, offering ample space for outdoor activities, landscaping, and accommodating the planned ADUs.
Cons
Limited Bathrooms: With only one bathroom for a 3-bedroom home, the property falls below the typical standard for comparable properties in the area, which often feature two or more bathrooms.
Significant Overpricing: The list price of $899,950 is substantially higher than the property's estimated value of $567,666.87 and recent comparable sales, indicating a potential overvaluation relative to its current condition and features.
Age and Potential for Further Updates: Built in 1953, the property description does not mention modern amenities such as central air conditioning, updated plumbing/electrical, or energy-efficient features (e.g., solar panels) that are present in some comparable properties, suggesting potential for additional capital expenditure.