10825 Magnolia Boulevard, North Hollywood, California 91601, North Hollywood, 91601 - bed, bath
ACTIVE$4,800,000$3,820/sqft
10825 Magnolia Boulevard, North Hollywood, California 91601
0Bed
0Bath
3,820Sqft
5,365Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Premier Development Opportunity: The property is explicitly marketed as a development opportunity, appealing directly to investors and developers seeking to capitalize on its potential.
Top Cons:
Existing Tenant Occupancy: The presence of a tenant (church) requires careful negotiation for relocation or lease termination, which could introduce delays and additional costs to the development timeline.
Compared to the nearby listings
Price:$4.80M vs avg $1.02M (+$3,775,000)98%
Size:3,820 sqft vs avg 1,541.5 sqft93%
Price/sqft:$1.3K vs avg $72998%
More Insights
Built in 1978 (48 years old).
Condition: This property, built in 1978, is explicitly marketed as a 'DEVELOPMENT OPPORTUNITY' across three parcels, with the existing structures (a church and a residential property) likely intended for demolition. There are no interior images or descriptions of the kitchen, bathrooms, flooring, or systems. The exterior images show dated and worn buildings with security bars, suggesting a lack of recent updates and a need for substantial repairs or complete overhaul if intended for continued use. The value is clearly in the land for redevelopment, not the current condition of the structures.
Year Built
1978
Close
-
List price
$4.8M
Original List price
$4.8M
Price/Sqft
$1,257
HOA
-
Days on market
-
Sold On
-
MLS number
26633257
Home ConditionPoor
Features
View-
About this home
DEVELOPMENT OPPORTUNITY- North Hollywood Art District. Three parcels sold together. approximately 16, 399 SF. This property is sold with adjacent properties 10821 and 10831 Magnolia Blvd. parcel numbers 2416-009-025 and 2416-009-027. zone C4-1-CA. Ready for mix use development on total lot size Property is curranty used as a church. The Vacant lot and the Residential property on each side are sold with this property. Please call Listing Agent for more information. Please do not disturb the tenant.
F
Floria Hamdam
Listing Agent
Price History
Date
Event
Price
12/21/05
Sold
$800,000
03/31/04
Sold
$500,000
Condition Rating
Poor
This property, built in 1978, is explicitly marketed as a 'DEVELOPMENT OPPORTUNITY' across three parcels, with the existing structures (a church and a residential property) likely intended for demolition. There are no interior images or descriptions of the kitchen, bathrooms, flooring, or systems. The exterior images show dated and worn buildings with security bars, suggesting a lack of recent updates and a need for substantial repairs or complete overhaul if intended for continued use. The value is clearly in the land for redevelopment, not the current condition of the structures.
Pros & Cons
Pros
Premier Development Opportunity: The property is explicitly marketed as a development opportunity, appealing directly to investors and developers seeking to capitalize on its potential.
Strategic North Hollywood Art District Location: Situated in the desirable and growing North Hollywood Art District, the location offers strong potential for future mixed-use project success and appreciation.
Flexible C4-1-CA Zoning: The advantageous C4-1-CA zoning permits a wide range of mixed-use development options, maximizing the property's potential and value.
Substantial Combined Land Area: The sale includes three parcels totaling approximately 16,399 SF, providing significant space for a large-scale development project.
Contiguous Site Assembly: Selling three adjacent parcels together simplifies the acquisition process for developers, providing a unified and sizable development footprint without the need for separate negotiations.
Cons
Existing Tenant Occupancy: The presence of a tenant (church) requires careful negotiation for relocation or lease termination, which could introduce delays and additional costs to the development timeline.
Demolition and Site Preparation Costs: As a development opportunity, the existing structures (church, residential) will likely require demolition, incurring substantial costs and time for site clearing and preparation.
Complexity of Multi-Parcel Transaction: While beneficial for scale, managing the legal, title, and due diligence aspects for three separate parcels, even when sold together, can add complexity compared to a single-parcel transaction.