15021 15023 Sylvan, Van Nuys, California 91411, Van Nuys, 91411 - 6 bed, 3 bath
ACTIVE$849,995
15021 15023 Sylvan, Van Nuys, California 91411
6Beds
3Baths
1,965Sqft
6,242Lot
Price Vs. Estimate
The estimated value ($749,758.285) is $100,236.715 (11%) lower than the list price ($849,995). This property may be overpriced.
Key pros and cons
Top Pros:
Dual-Unit Income Potential: The property features a main house (4 bed/2 bath) and a detached, permitted ADU (2 bed/1 bath), offering significant rental income opportunities or flexible multi-generational living arrangements.
Top Cons:
Requires Significant Completion/Renovation: The property is not move-in ready, requiring the buyer to 'design and finish with their own touches' and 'continue construction immediately,' implying substantial immediate investment and effort.
Compared to the nearby listings
Price:$850.0K vs avg $1.10M ($-245,255)22%
Size:1,965 sqft vs avg 1,465.5 sqft72%
Price/sqft:$433 vs avg $7363%
More Insights
Built in 1946 (79 years old).
Condition: The property is currently undergoing extensive renovation, as evidenced by the exposed framing, gutted interiors, and incomplete finishes shown in the images. The description explicitly states it requires the buyer to 'design and finish with their own touches' and 'continue construction immediately.' The kitchen and bathrooms are in a raw, unfinished state, with no appliances, fixtures, or completed surfaces. While permits are in place for the work, the property is not livable in its current condition and requires substantial rehabilitation and completion to be functional, aligning with the 'poor' condition criteria.
Year Built
1946
Close
-
List price
$850K
Original List price
$900K
Price/Sqft
$433
HOA
-
Days on market
-
Sold On
-
MLS number
SR25228084
Home ConditionPoor
Features
View-
About this home
Incredible opportunity Perfect for an Investor, Builder or Homeowner who want to design and finish with their own touches and enjoy built-in equity once completed. Main House: 15021- 4 Bedroom and 2bathrooms (apprx 1,381sqft) including a permitted master suite addition. Detached Garage conversion ADU:15023- 2 Bedroom and 1 Bathroom (apprx 584sqft) All city approved and current permits/plans are included and paid ready to transferred to new buyer. Allowing you to continue construction immediately. This is a great opportunity to finish or hold as along-term and capture strong upside potential and excellent rental income from both units. Easy access to major freeways, schools and shopping.
Condition Rating
Poor
The property is currently undergoing extensive renovation, as evidenced by the exposed framing, gutted interiors, and incomplete finishes shown in the images. The description explicitly states it requires the buyer to 'design and finish with their own touches' and 'continue construction immediately.' The kitchen and bathrooms are in a raw, unfinished state, with no appliances, fixtures, or completed surfaces. While permits are in place for the work, the property is not livable in its current condition and requires substantial rehabilitation and completion to be functional, aligning with the 'poor' condition criteria.
Pros & Cons
Pros
Dual-Unit Income Potential: The property features a main house (4 bed/2 bath) and a detached, permitted ADU (2 bed/1 bath), offering significant rental income opportunities or flexible multi-generational living arrangements.
Permitted Development & Plans: City-approved permits and plans for the ADU conversion are included and ready for transfer, allowing the new buyer to continue construction immediately and reducing initial development hurdles.
Value-Add Opportunity: Explicitly marketed for investors, builders, or homeowners to design and finish, promising 'built-in equity' and 'strong upside potential' upon completion.
Permitted Master Suite Addition: The main house includes a permitted master suite addition, enhancing its living space and overall appeal with approved expansion.
Convenient Location: The property boasts easy access to major freeways, schools, and shopping, contributing to its desirability and convenience for residents.
Cons
Requires Significant Completion/Renovation: The property is not move-in ready, requiring the buyer to 'design and finish with their own touches' and 'continue construction immediately,' implying substantial immediate investment and effort.
Older Construction: Built in 1946, the main structure is older, which may necessitate updates to core systems, infrastructure, and aesthetics beyond the current stated construction, potentially increasing overall project costs.
Lack of Views: The property explicitly states 'view: None,' which could be a disadvantage in a market where desirable views often contribute significantly to property value and appeal.