12922 Addison Street, Sherman Oaks, California 91423, Sherman Oaks, 91423 - 3 bed, 2 bath
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Sherman Oaks, California 91423
This property presents a High-Potential Investment Opportunity with a List Price of $1,195,000—positioned well above the $999,170 Fair Market Value by -19%. Featuring a Condition Rating of 6, the 1949 structure requires significant renovation, making it a prime candidate for a total overhaul. The 6,497 sqft lot offers substantial development potential in a neighborhood trending toward luxury new builds. This is a strategic acquisition ideal for Developers or Contractors seeking to maximize value in a high-demand Sherman Oaks location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 12922 Addison Street Subject | $1,195,000* List Price | 3 | 2 | 1,383 | $722 | - |
A 13621 Addison Street Sold | $1,200,000 | 3 | 2 | 1,461 | $821 | 0.9 mi |
B 5116 Sunnyslope Avenue Sold | $1,078,000 | 2 | 1 | 1,008 | $1,069 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
The property is 77 years old with no evidence of renovation, meeting the >50y criteria. The listing description explicitly targets developers and investors, highlighting 'new builds in the area' and 'unlimited possibilities,' which signals land-value priority. Interior photos show original systems (wall heaters/AC), dated kitchen/baths, and severely neglected flooring.
Elementary School: Warner Avenue Elementary School (9/10).
Situated in a highly sought-after pocket south of Magnolia, the property offers exceptional proximity to upscale amenities including Erewhon, Whole Foods, Equinox, and the vibrant dining scene along Ventura Boulevard.
With a generous 6,497 sqft lot and a neighborhood trending toward high-end new construction, this property serves as an ideal canvas for developers or owner-users looking to build a custom luxury residence.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 2.
Built in 1949 and marketed as a 'contractor opportunity,' the existing 1,383 sqft structure likely requires a total overhaul or teardown to meet modern living standards and maximize the lot's value.
At a list price of $1.195M, the initial investment is substantial for a fixer-upper, which may tighten profit margins for investors once construction and carrying costs are factored in.
Prime Sherman Oaks opportunity to create your own paradise in great neighborhood with many new builds in the area. Calling all investors/developers/contractors/ambitions owner-users for an opportunity just south of Magnolia and just west of Coldwater Canyon. Close to award winning schools, quick access to Ventura Boulevard restaurants, shopping, Whole Foods and Erewhon markets, and Equinox gym, with easy freeway and city access. Currently showing as a 3 bedroom 2 bath home with a detached garage on an ample lot. Rare opportunity to purchase in this great location with unlimited possibilities.
No exterior & parking available.
Grades K-5 • 1.4 mi
Grades K-5 • 1.6 mi
Grades K-5 • 2.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 4.0 | 41% |
| Baths | 2.0 | 3.0 | 33% |
| Square foot | 1,383 | 2,495 | 4% |
| Lot Size | 6,497 | 7,580 | 13% |
| Price | $1.20M | $2.02M | 6% |
| Price per sq ft | $864 | $826 | 57% |
| Built year | 1949 | 1954 | 37% |
| HOA | $0 | $0 | 50% |
| Days on market | 5 | 143 | 1% |
Jun 1, 2026
$1,195,000
Initial Listing