13000 Lull Street, North Hollywood, California 91605, North Hollywood, 91605 - 3 bed, 2 bath
ACTIVE$620,000
13000 Lull Street, North Hollywood, California 91605
3Beds
2Baths
1,450Sqft
7,480Lot
Year Built
1972
Close
-
List price
$620K
Original List price
$620K
Price/Sqft
$428
HOA
-
Days on market
-
Sold On
-
MLS number
GD24185921
Home ConditionPoor
Features
View-
About this home
Possibly Over-Priced:The estimated price is 24% below the list price. We found 3 Cons,6 Pros. Rank: price - $620.0K(4th), sqft - 1450(42th), beds - 3(50th), baths - 2(50th).
Property is a short sale in North Hollywood. The house is a total fixer due to major water damage.
Condition Rating
Poor
Built in 1972, this property is over 50 years old and is explicitly described as a 'total fixer due to major water damage.' The images confirm extensive water damage on ceilings and walls throughout the interior, indicating significant defects affecting soundness and safety. The kitchen and bathroom are severely outdated, likely original to the 1970s, with old cabinets, countertops, and fixtures, and also show signs of neglect and damage. The flooring is old, stained, and worn. The property requires substantial repairs and rehabilitation to be habitable, aligning with the 'poor' condition criteria.
Pros & Cons
Pros
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7480, living area = 1450.
Investment Opportunity: The property is explicitly described as a 'total fixer' and a 'short sale,' presenting a significant value-add opportunity for investors or owner-occupants willing to undertake a major renovation.
Desirable Location: Located in North Hollywood, a sought-after area known for its amenities, cultural attractions, and strong potential for property appreciation.
Generous Lot Size: The 7,480 sqft lot offers ample space for potential expansion, extensive landscaping, or the addition of an Accessory Dwelling Unit (ADU), which can significantly enhance future value.
Standard Layout: The 3-bedroom, 2-bathroom configuration is a highly desirable and functional layout for families and a broad range of potential buyers.
Active Local Market: Proximity to recently sold comparable properties (e.g., 12952 Elkwood Street, 0.24 miles away) indicates a stable and active market in the immediate vicinity, suggesting good resale potential once renovated.
Cons
Extensive Damage & Fixer Status: The property has 'major water damage' and is a 'total fixer,' indicating substantial and costly repairs are required, which will be a significant undertaking for any buyer.
Short Sale Complexity: Being a short sale introduces potential delays, uncertainty, and a more complicated transaction process, requiring patience and specific expertise from the buyer and agent.
Overpriced Relative to Condition: The list price of $620,000 is considerably higher than the estimated value of $466,227.385, especially given the severe damage, suggesting the property is currently overpriced for its condition.