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10941 Peach Grove Street, Toluca Lake, California 91601, Toluca Lake, 91601 - 3 bed, 2 bath

10941 Peach Grove Street, Toluca Lake, California 91601 home-pic-0
ACTIVE$1,295,000
10941 Peach Grove Street, Toluca Lake, California 91601
3Beds
2Baths
2,008Sqft
7,705Lot

Price Vs. Estimate

The estimated value ($1,295,000) is $0 (0%) lower than the list price ($1,295,000). This property may be overpriced.

Key pros and cons

Top Pros:
High Development Potential: The 7,703 sqft LAR3-zoned lot offers significant opportunities for expansion or multi-unit development, maximizing future value in a desirable area.
Top Cons:
Age-Related Maintenance & Updates: Built in 1937, the property likely requires significant investment in updating systems (electrical, plumbing, HVAC) and general modernization to meet contemporary standards and avoid future issues.

Compared to the nearby listings

Price:$1.29M vs avg $1.15M (+$145,000)59%
Size:2,008 sqft vs avg 1,764 sqft69%
Price/sqft:$645 vs avg $72436%

More Insights

Built in 1937 (88 years old).
Condition: Built in 1937, this property retains significant original charm but requires substantial rehabilitation. Both kitchens and bathrooms are severely outdated, featuring original or very old cabinets, countertops, appliances (with one newer refrigerator being an exception), and fixtures. While the property appears structurally well-maintained, as noted in the description, the major components like kitchens and bathrooms are functional but far from modern standards, necessitating complete overhauls. The hardwood floors show wear, and other systems (electrical, plumbing, HVAC) are likely original or very old, requiring extensive updates to meet contemporary living expectations. The listing's phrase 'perfect canvas for restoration' accurately reflects the need for significant renovation rather than minor updates.
Year Built
1937
Close
-
List price
$1.29M
Original List price
$1.4M
Price/Sqft
$645
HOA
-
Days on market
-
Sold On
-
MLS number
25574953
Home ConditionPoor
Features
Good View: Trees/Woods
Patio
ViewTrees/Woods

About this home

Rare North Hollywood Opportunity. Last time sold was 1974! Located just north of Camarillo Street and east of Vineland Avenue, this 7,703 sqft LAR3-zoned lot presents a truly unique opportunity in one of the Valley's most desirable areas. The value here is not only in the land, two well-maintained homes with abundant original charm already occupy the property, offering a range of possibilities for investors, developers, or owner-users. The main house features 2 bedrooms and 1 bath, while the back house offers 1 bedroom, 1 bath, and a full kitchen, together totaling 2,008 sqft of living space. Many original architectural details remain, providing a perfect canvas for restoration. Live in one home and rent the other, create an income-generating duplex, or take advantage of the LAR3 zoning for a larger development project. With its central location, this property is close to shopping, dining, entertainment, and easy freeway access, making it an attractive investment for a variety of uses.

Condition Rating
Poor
Built in 1937, this property retains significant original charm but requires substantial rehabilitation. Both kitchens and bathrooms are severely outdated, featuring original or very old cabinets, countertops, appliances (with one newer refrigerator being an exception), and fixtures. While the property appears structurally well-maintained, as noted in the description, the major components like kitchens and bathrooms are functional but far from modern standards, necessitating complete overhauls. The hardwood floors show wear, and other systems (electrical, plumbing, HVAC) are likely original or very old, requiring extensive updates to meet contemporary living expectations. The listing's phrase 'perfect canvas for restoration' accurately reflects the need for significant renovation rather than minor updates.
Pros & Cons

Pros

High Development Potential: The 7,703 sqft LAR3-zoned lot offers significant opportunities for expansion or multi-unit development, maximizing future value in a desirable area.
Dual Income Property: Features two distinct, well-maintained homes (2/1 main, 1/1 back with full kitchen), providing immediate rental income potential or flexible owner-occupancy with supplementary income.
Prime Toluca Lake Location: Situated in a central and highly sought-after area, offering convenient access to shopping, dining, entertainment, and major freeways, enhancing desirability and appreciation.
Architectural Charm & Restoration Canvas: Retains abundant original architectural details, appealing to buyers looking for character and a personalized restoration project to enhance its unique appeal.
Rare Market Opportunity: Long-term ownership (last sold in 1974) indicates a unique offering in a desirable market, suggesting a stable asset with potential for significant value addition.

Cons

Age-Related Maintenance & Updates: Built in 1937, the property likely requires significant investment in updating systems (electrical, plumbing, HVAC) and general modernization to meet contemporary standards and avoid future issues.
Required Renovation Investment: While charming, the description as a 'canvas for restoration' implies substantial renovation costs and effort for buyers to fully realize its potential and enhance livability.
Recent Price Reduction: The $100,000 price drop from the original listing price may signal market resistance or suggest the property's initial valuation was too high, potentially impacting buyer confidence.

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