1023 E Elmwood Avenue, Burbank, California 91501, Burbank, 91501 - 2 bed, 1 bath

1023 E Elmwood Avenue, Burbank, California 91501 home-pic-0

1023 E Elmwood Avenue

Burbank, California 91501

ACTIVE
CONDITION: FAIR
2Beds
1Baths
1,027Sq Ft
9,445Lot Size

Property Price

LIST PRICE$1,375,000
EST. MARKET VALUE
$1,247,865
10% AboveMARKET VALUE

SUMMARY

Estimated Market Value

$1,247,865
Based on Realkey algorithm analyzing recent comparable sales in Burbank.

Comparable Sales Map

Comparables within 1 miles sold in recently

Address Sold Price BedsBathsSq Ft$/SqftDistance
1023 E Elmwood Avenue
Subject
$1,375,000*
List Price
211,027$1,215-
A
1018 E Verdugo Avenue
Sold
$1,365,000211,128$1,2100.2 mi
B
1067 E Magnolia Boulevard
Sold
$1,300,000211,148$1,1320.7 mi
C
701 Country Club Drive
Active Under Contract
$1,095,000
List Price
221,112$9850.9 mi

* Subject property listed price vs sold prices of comps.

Condition Analysis

OVERALL CONDITION SCORE

Fair
TeardownExcellent

Property is moderate renovation needed.

The property, built in 1936, is aged but appears to be maintained and functional, as described in the listing. The kitchen features granite countertops and appliances that, while functional, appear to be from a renovation approximately 15-25 years ago, making them outdated by current standards. The living room has original-looking hardwood floors and dated light fixtures. While livable, the home requires significant updates to meet contemporary styles and preferences, aligning with the 'Fair' criteria of being aged but maintained with functional yet outdated components, and requiring minor updates or repairs.

PROSSTRENGTHS & OPPORTUNITIES

  • 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 = 9445, living area = 1027.

  • Expansive & Usable Lot

    A rare, completely flat and fully usable 9,445 sq. ft. lot in a prime location, offering exceptional space and privacy for development.

  • Coveted Burbank Hills Location

    Situated in the highly desirable Burbank Hills, providing a peaceful atmosphere while being minutes from top-rated schools, dining, shopping, and entertainment.

CONSRISKS & DEFICIENCIES

  • Modest Existing Home

    The current 2-bedroom, 1-bathroom home is relatively small (1027 sq. ft.) and may not meet the needs of buyers seeking a larger, modern living space.

  • Age of Structure

    Built in 1936, the existing home is nearly 90 years old, suggesting it may require substantial renovation or a complete rebuild to align with contemporary standards and preferences.

  • Significant Investment Required

    While offering immense potential, realizing the property's full value as a custom dream home or with an ADU will necessitate a substantial additional financial investment beyond the purchase price.

About 1023 E Elmwood Avenue

An extraordinary opportunity begins with the land. Set on a rare and expansive 9,445 sq. ft. completely flat and fully usable lot in the coveted Burbank Hills, this property is a rare find in such a stunning location, offering exceptional space, privacy, and endless potential.The existing 2-bedroom, 1-bathroom home features a functional floor plan, a spacious living room, and good sized bedrooms, providing a comfortable foundation to enjoy now or enhance over time. However, the true value lies in the possibilities: this is an ideal canvas for those ready to put their vision into action and create a multi-story, custom dream home that fully capitalizes on the generous lot size and prime hillside setting.The property also includes a detached recreational structure, offering endless flexibility for a guest retreat, studio, gym, office space or a great opportunity to build an Accessory Dwelling Unit (ADU) - an additional source of rental income.Situated in a great neighborhood and surrounded by a peaceful, picturesque atmosphere, the property feels far away from the city's busy streets, yet remains just minutes from Burbank's finest restaurants, cafes, movie theaters, bars, shopping, malls, and top-rated schools.This is more than a home; it is a rare land opportunity, a blank canvas, with a chance to build something truly remarkable, or a lifestyle with a potential rental income in one of Burbank's most desirable neighborhoods.

Property Details

Public Facts

Property Type
Single Family Residence
Year Built
1936
Lot Size
9,445 Sq. Ft.

Interior

Total Bedrooms
2
Total Bathrooms
1 (1 Full, 0 Half)

Exterior & Parking

No exterior & parking available.

Utilities & Misc

HOA Fee
$0 / Month

Neighborhood Insights

Sensitive Facilities

No sensitive facilities data found.

Neighborhood Comparison

FeatureSubjectAverage HomeNeighborhood Ranking (50 Listings)
Beds2.03.0
29%
Baths1.02.0
19%
Square foot1,0271,952
14%
Lot Size9,4459,162
62%
Price$1.38M$1.50M
38%
Price per sq ft$1.3K$857
95%
Built year19361938
43%
HOA$0$0
50%
Days on market41185
5%

Pricing History

Listed for Sale

Jan 24, 2026

$1,375,000

Initial Listing

Sold

Dec 13, 2018

$930,000

Public Record

Sold

Nov 1, 2017

$750,000

Public Record

Sold

Oct 12, 2016

$780,000

Public Record

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