10831 Magnolia Boulevard, North Hollywood, California 91601, North Hollywood, 91601 - bed, bath
ACTIVE$4,800,000$1,243/sqft
10831 Magnolia Boulevard, North Hollywood, California 91601
0Bed
0Bath
1,243Sqft
5,514Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Development Potential: Explicitly marketed as a 'DEVELOPMENT OPPORTUNITY' ideal for mixed-use, indicating significant future value and versatility.
Top Cons:
High Capital Requirement: The list price of $4.8 million represents a substantial initial investment, potentially narrowing the pool of prospective buyers to serious developers.
Compared to the nearby listings
Price:$4.80M vs avg $1.02M (+$3,775,000)98%
Size:1,243 sqft vs avg 1,509.5 sqft33%
Price/sqft:$3.9K vs avg $72998%
More Insights
Built in 1923 (103 years old).
Condition: Built in 1923, this property is explicitly marketed as a 'DEVELOPMENT OPPORTUNITY' with its value primarily in the land and C4-1-CA zoning for mixed-use. The exterior images show a very old, unmaintained structure with security bars and faded paint, suggesting no significant renovations in decades. The property analysis also highlights 'Demolition & Site Prep Costs,' indicating the existing structure is not considered an asset and is likely beyond repair for modern living standards. The property's value is solely based on its redevelopment potential.
Year Built
1923
Close
-
List price
$4.8M
Original List price
$4.8M
Price/Sqft
$3,862
HOA
-
Days on market
-
Sold On
-
MLS number
26633311
Home ConditionTear down
Features
View-
About this home
DEVELOPMENT OPPORTUNITY: NORTH HOLLYWOOD ART DISTRICT. This property is sold with 10825 and 10831 together approximately 16,399 SF - zone C4-1-CA - Ideal for Mix use development. This property is currently used as single family. Please call listing Agent for more information.
F
Floria Hamdam
Listing Agent
Price History
Date
Event
Price
07/03/95
Sold
$160,000
03/21/14
Sold
$575,000
Condition Rating
Tear down
Built in 1923, this property is explicitly marketed as a 'DEVELOPMENT OPPORTUNITY' with its value primarily in the land and C4-1-CA zoning for mixed-use. The exterior images show a very old, unmaintained structure with security bars and faded paint, suggesting no significant renovations in decades. The property analysis also highlights 'Demolition & Site Prep Costs,' indicating the existing structure is not considered an asset and is likely beyond repair for modern living standards. The property's value is solely based on its redevelopment potential.
Pros & Cons
Pros
Development Potential: Explicitly marketed as a 'DEVELOPMENT OPPORTUNITY' ideal for mixed-use, indicating significant future value and versatility.
Favorable Zoning: Zoned C4-1-CA, which permits commercial and mixed-use development, offering flexibility for various project types in a desirable urban area.
Substantial Land Area: Sold with an adjacent parcel, providing a combined lot size of approximately 16,399 SF, suitable for a significant development project.
Prime Location: Situated in the desirable North Hollywood Art District, a vibrant area with strong potential for growth and demand for new developments.
Investment Upside: The property offers substantial investment upside due to its development potential in a sought-after urban location with high demand.
Cons
High Capital Requirement: The list price of $4.8 million represents a substantial initial investment, potentially narrowing the pool of prospective buyers to serious developers.
Demolition & Site Prep Costs: The presence of an existing 1923 single-family residence will necessitate demolition and site preparation, adding to overall development expenses and timeline.
Entitlement Process: The property is offered as a development opportunity without pre-approved plans, meaning the buyer will need to undertake the full entitlement and permitting process.