12944 Riverside Drive, Sherman Oaks, California 91423, Sherman Oaks, 91423 - bed, bath
ACTIVE UNDER CONTRACT$1,599,500$3,756/sqft
12944 Riverside Drive, Sherman Oaks, California 91423
0Bed
0Bath
3,756Sqft
6,487Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Great Schools: Elementary School: Warner Avenue Elementary School (9/10).
Top Cons:
Property Age: Built in 1952, the property is over 70 years old, suggesting that major systems (plumbing, electrical, roof) may be original or require significant updates, potentially leading to higher maintenance costs.
Compared to the nearby listings
Price:$1.60M vs avg $1.52M (+$79,750)50%
Size:3,756 sqft vs avg 3,498 sqft50%
Price/sqft:$426 vs avg $43550%
More Insights
Built in 1952 (74 years old).
Condition: Built in 1952, this property is over 70 years old. The images reveal extremely dated and worn kitchens and bathrooms, likely original or renovated 30-50+ years ago, requiring substantial rehabilitation. Appliances are old, countertops are laminate/tile, and flooring is worn vinyl/linoleum. While hardwood floors are present in living areas, the overall condition, including visible wear on garage doors and the lack of central air conditioning (noted as a weakness), indicates a need for significant repairs and modernization to meet current living standards. The listing itself suggests 'potential for remodeling, tear down and new build,' reinforcing that the current structure requires major investment.
Year Built
1952
Close
-
List price
$1.6M
Original List price
$1.6M
Price/Sqft
$426
HOA
-
Days on market
-
Sold On
-
MLS number
SB26000832
Home ConditionPoor
Features
Patio
ViewNeighborhood
About this home
A wonderful opportunity to own an attractive 4 unit property with a large backyard, 4 individual garages with direct access, and a separate laundry room on the premises. Each unit is approx. 950 sq ft, 2 bedrooms and 1 bathroom, with hardwood floors, large bay windows, crown molding and ample storage. The property offers individual water heaters, gas and electric meters. Total building is 3700 sq ft, gated and fenced on a 6700 sq ft lot with privacy hedges around. The front yard and huge rear courtyard are landscaped and are excellent for outdoor entertaining. Property is zoned R3 – lots of potential for remodeling, tear down and new build, or conversion to townhouses/ SFR. It is located in a prime residential area on the border of Studio City, close to studios, convenient access to 101 and 405 freeways, bars, restaurants ,entertainment and shopping facilities. An opportunity not to be missed!
S
Sally Whitty
Listing Agent
Nearby schools
6/10
John B. Monlux Elementary School
Public,•K-5•1.6mi
6/10
Erwin Elementary School
Public,•K-5•1.9mi
9/10
Kester Avenue Elementary School
Public,•K-5•2.5mi
9/10
Roscomare Road Elementary School
Public,•K-5•3.8mi
8/10
Lanai Road Elementary School
Public,•K-5•4.4mi
9/10
Warner Avenue Elementary School
Public,•K-5•6.1mi
6/10
Walter Reed Middle School
Public,•6-8•1.7mi
2/10
Van Nuys Middle School
Public,•6-8•2.2mi
5/10
James Madison Middle School
Public,•6-8•2.8mi
5/10
William Mulholland Middle School
Public,•6-8•5.6mi
3/10
William Mulholland Middle School
Public,•6-8•5.8mi
6/10
Ulysses S. Grant Senior High School
Public,•9-12•1.4mi
8/10
North Hollywood Senior High School
Public,•9-12•1.7mi
6/10
Van Nuys Senior High School
Public,•9-12•3.2mi
6/10
University Senior High School
Public,•9-12•8.1mi
6/10
University Senior High School Charter
Public,•9-12•8.1mi
Price History
Date
Event
Price
08/17/01
Sold
$475,000
11/03/97
Sold
$295,000
Condition Rating
Poor
Built in 1952, this property is over 70 years old. The images reveal extremely dated and worn kitchens and bathrooms, likely original or renovated 30-50+ years ago, requiring substantial rehabilitation. Appliances are old, countertops are laminate/tile, and flooring is worn vinyl/linoleum. While hardwood floors are present in living areas, the overall condition, including visible wear on garage doors and the lack of central air conditioning (noted as a weakness), indicates a need for significant repairs and modernization to meet current living standards. The listing itself suggests 'potential for remodeling, tear down and new build,' reinforcing that the current structure requires major investment.
Pros & Cons
Pros
Great Schools: Elementary School: Warner Avenue Elementary School (9/10).
Strong Income-Generating Asset: A quadruplex with four 2-bedroom, 1-bathroom units, providing a robust income stream for investors.
Individual Utility Metering: Each unit has separate water heaters, gas, and electric meters, significantly reducing landlord operating expenses and simplifying tenant billing.
High Development Potential (R3 Zoning): Zoned R3, offering flexibility for extensive remodeling, a complete tear-down and new build, or conversion into townhouses/SFRs, maximizing future value.
Prime Location & Accessibility: Situated in a desirable Sherman Oaks residential area bordering Studio City, with excellent access to major freeways (101 & 405), studios, and a vibrant array of dining, entertainment, and shopping options.
Desirable Unit Features & Property Amenities: Units boast classic features like hardwood floors, large bay windows, and crown molding, complemented by practical amenities such as individual garages with direct access, a separate laundry room, and attractive landscaped outdoor spaces.
Cons
Property Age: Built in 1952, the property is over 70 years old, suggesting that major systems (plumbing, electrical, roof) may be original or require significant updates, potentially leading to higher maintenance costs.
Lack of Central Air Conditioning: The description does not mention a cooling system, which could be a significant drawback for tenants and future buyers in the Southern California climate, potentially impacting rental appeal or requiring future installation.
Capital Investment for Maximized Potential: While R3 zoning offers development opportunities, realizing this potential (e.g., new construction or extensive conversion) would necessitate substantial capital investment and navigating complex development processes.