13905 Milbank Street, Sherman Oaks, California 91423, Sherman Oaks, 91423 - 2 bed, 2 bath
ACTIVE UNDER CONTRACT$1,295,000
13905 Milbank Street, Sherman Oaks, California 91423
2Beds
2Baths
1,648Sqft
7,665Lot
Price Vs. Estimate
The estimated value ($1,250,013.465) is $44,986.535 (3%) lower than the list price ($1,295,000). This property may be overpriced.
Key pros and cons
Top 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 = 7665, living area = 1648.
Top Cons:
Extensive Renovation Required: Described as a 'heavy fixer' and having been 'vandalized,' the property requires a major renovation, indicating significant time, effort, and financial investment will be necessary.
Compared to the nearby listings
Price:$1.29M vs avg $1.88M ($-582,500)8%
Size:1,648 sqft vs avg 2,476 sqft17%
Price/sqft:$786 vs avg $81441%
More Insights
Built in 1941 (84 years old).
Condition: This property is a 'heavy fixer' built in 1941 and has been vandalized, requiring substantial repairs and rehabilitation. Images reveal significant defects including a large hole in the roof, a large hole in an interior ceiling with exposed wiring, and exposed electrical components on the exterior. The property is being sold 'AS-IS' and may not qualify for financing, indicating it is unsafe and unlivable in its current state. While the listing suggests a major renovation is possible, the extent of damage to major systems and structural integrity clearly places it in the 'poor' category, bordering on a tear-down.
Year Built
1941
Close
-
List price
$1.29M
Original List price
$1.29M
Price/Sqft
$786
HOA
-
Days on market
-
Sold On
-
MLS number
25622915
Home ConditionPoor
Features
Patio
View-
About this home
Heavy Fixer Home on Large Corner Lot in the Heart of Sherman Oaks! This home is ready to undergo a major renovation & is perfect for an investor or end user. Living room w/ fireplace. Kitchen. Spacious bedrooms. Laundry room. Backyard area. Just minutes to the best shopping, dining, & entertainment the area has to offer. A unique opportunity that is not to be missed! ** Property has been vandalized & is being sold COMPLETELY "AS-IS" & may not qualify for financing in its current condition **
Nearby schools
9/10
Kester Avenue Elementary School
Public,•K-5•1.6mi
6/10
Erwin Elementary School
Public,•K-5•2.1mi
6/10
John B. Monlux Elementary School
Public,•K-5•2.4mi
9/10
Roscomare Road Elementary School
Public,•K-5•2.8mi
8/10
Lanai Road Elementary School
Public,•K-5•3.2mi
9/10
Warner Avenue Elementary School
Public,•K-5•5.7mi
2/10
Van Nuys Middle School
Public,•6-8•1.4mi
6/10
Walter Reed Middle School
Public,•6-8•2.9mi
5/10
James Madison Middle School
Public,•6-8•3.3mi
5/10
William Mulholland Middle School
Public,•6-8•4.7mi
3/10
William Mulholland Middle School
Public,•6-8•4.9mi
6/10
Ulysses S. Grant Senior High School
Public,•9-12•2.0mi
6/10
Van Nuys Senior High School
Public,•9-12•2.7mi
8/10
North Hollywood Senior High School
Public,•9-12•2.9mi
6/10
University Senior High School
Public,•9-12•7.6mi
6/10
University Senior High School Charter
Public,•9-12•7.6mi
Condition Rating
Poor
This property is a 'heavy fixer' built in 1941 and has been vandalized, requiring substantial repairs and rehabilitation. Images reveal significant defects including a large hole in the roof, a large hole in an interior ceiling with exposed wiring, and exposed electrical components on the exterior. The property is being sold 'AS-IS' and may not qualify for financing, indicating it is unsafe and unlivable in its current state. While the listing suggests a major renovation is possible, the extent of damage to major systems and structural integrity clearly places it in the 'poor' category, bordering on a tear-down.
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 = 7665, living area = 1648.
Great Schools: Elementary School: Warner Avenue Elementary School (9/10).
Prime Location: Situated in the 'Heart of Sherman Oaks,' the property offers excellent access to the area's best shopping, dining, and entertainment, enhancing its desirability and potential for appreciation.
Large Corner Lot: The property boasts a large corner lot (7,665 sqft), providing ample space for potential expansion, landscaping, or creating a private outdoor oasis, and offering good curb appeal.
Significant Investment Opportunity: Explicitly marketed as a 'heavy fixer' and 'perfect for an investor or end user,' this property presents a unique opportunity for substantial value creation through a major renovation.
Development Potential: Given its 'heavy fixer' status and large corner lot in a desirable area, there's significant potential for a comprehensive remodel, expansion, or even a complete redevelopment to maximize its market value.
Access to Highly-Rated Schools: The property is located near several highly-rated elementary schools, including Warner Avenue, Roscomare Road, and Kester Avenue Elementary, which can be a strong draw for families.
Cons
Extensive Renovation Required: Described as a 'heavy fixer' and having been 'vandalized,' the property requires a major renovation, indicating significant time, effort, and financial investment will be necessary.
As-Is Sale & Financing Challenges: The property is being sold 'COMPLETELY AS-IS' and 'may not qualify for financing in its current condition,' which severely limits buyer pool and requires cash or specialized loan products.
Age and Condition of Structure: Built in 1941, the home's age, combined with its current 'heavy fixer' and 'vandalized' state, suggests potential for outdated systems, structural issues, and higher renovation costs.