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

1023 E Elmwood Avenue
Burbank, California 91501
Property Price
SUMMARY
Estimated Market Value
Comparable Sales Map
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1023 E Elmwood Avenue Subject | $1,375,000* List Price | 2 | 1 | 1,027 | $1,215 | - |
A 1018 E Verdugo Avenue Sold | $1,365,000 | 2 | 1 | 1,128 | $1,210 | 0.2 mi |
B 1067 E Magnolia Boulevard Sold | $1,300,000 | 2 | 1 | 1,148 | $1,132 | 0.7 mi |
C 701 Country Club Drive Active Under Contract | $1,095,000 List Price | 2 | 2 | 1,112 | $985 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
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and appliances that, while functional, appear to be from a renovation approximately 15-25 years ago, making them outdated by current standards.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contemporary styles and preferences, aligning with the 'Fair' criteria of being aged but maintained with functional yet outdated components, and requiring minor updates or repairs.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
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 29% |
| Baths | 1.0 | 2.0 | 19% |
| Square foot | 1,027 | 1,952 | 14% |
| Lot Size | 9,445 | 9,162 | 62% |
| Price | $1.38M | $1.50M | 38% |
| Price per sq ft | $1.3K | $857 | 95% |
| Built year | 1936 | 1938 | 43% |
| HOA | $0 | $0 | 50% |
| Days on market | 41 | 185 | 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
















