15401 Covello Street, Van Nuys, California 91406, Van Nuys, 91406 - 3 bed, 2 bath
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Van Nuys, California 91406
This Mid-Century Value-Add Residence represents a strategic entry into the Van Nuys market, listed at $799,000—positioned below the $806,702 Fair Market Value by 1%. This valuation provides $7,702 in Instant Equity for buyers. Holding a Condition Rating of 4, the home is functional and "livable as is," featuring a signature mid-century rock fireplace and a private backyard with a patio. Located near Balboa Park within the Los Angeles Unified district, it offers significant upside through cosmetic modernization. This is an ideal acquisition for Owner-Occupants or Value-Add Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 15401 Covello Street Subject | $799,000* List Price | 3 | 2 | 1,558 | $518 | - |
A 6859 Langdon Avenue Sold | $925,000 | 3 | 2 | 1,578 | $586 | 0.8 mi |
B 15354 Runnymede Street Sold | $865,000 | 4 | 2 | 1,774 | $488 | 0.2 mi |
C 7407 Densmore Avenue Sold | $725,000 | 3 | 1 | 1,356 | $535 | 0.5 mi |
D 7701 Orion Avenue Active | $799,500 List Price | 3 | 2 | 1,454 | $550 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property, built in 1965, is in well-maintained but dated condition. While it features updated wood-look laminate flooring in the living areas and bedrooms, the kitchen and bathrooms are significantly outdated with older tile countertops, painted cabinetry, and vintage fixtures. The presence of popcorn ceilings and the original mid-century rock fireplace further indicate that while the home is functional and 'livable as is,' it has not undergone a comprehensive renovation in over 20 years and requires cosmetic modernization.
The property is ideally situated in a quiet residential neighborhood adjacent to Balboa Park, offering excellent proximity to the 405 freeway, Costco, and diverse shopping and dining options.
With a recent $40,000 price reduction to under $800,000, this home represents an exceptional value for a 3-bedroom single-family residence in the Van Nuys market.
The home features a functional mid-century layout and a signature rock fireplace, providing a solid foundation for buyers looking to build equity through cosmetic updates and personalization.
While livable, the interior requires a refresh and modernization, which may necessitate immediate additional capital investment from the buyer after closing.
The solar system is leased rather than owned, requiring the buyer to assume existing contract terms and monthly payments, which can be a deterrent for some financing profiles.
"JUST REDUCED $40,000 Now priced under $800K! Seller is motivated and ready for offers this is your opportunity to secure a Balboa Park-adjacent home at an exceptional value." Recent price improvement is designed to attract immediate interest schedule your showing before it's gone. "Charming 3-bedroom, 2-bath home in a prime Balboa Park adjacent location in Van Nuys. Situated on a quiet residential street, this property features a beautiful green front yard with a mature citrus tree and a lovely private backyard with lush greenery perfect for relaxing or entertaining.Inside, the home offers a great layout highlighted by a large mid-century rock fireplace that anchors the main living space and adds timeless character. The kitchen includes a breakfast area and convenient laundry space, offering functionality and flexibility for everyday living.A spacious double-car garage provides ample parking and storage. Leaased Solar system to help with electric bills. The home is livable as is but offers an excellent opportunity for a refresh and personalization, making it ideal for buyers looking to add value.Located just minutes from Balboa Park, the 405 freeway, Costco, and abundant shopping and dining, this property combines neighborhood charm with exceptional convenience.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,558 | 1,508 | 55% |
| Lot Size | 5,577 | 6,638 | 6% |
| Price | $799.0K | $885.0K | 25% |
| Price per sq ft | $513 | $607 | 19% |
| Built year | 1965 | 1950 | 93% |
| HOA | $0 | $0 | 50% |
| Days on market | 49 | 160 | 4% |
Mar 24, 2026
$799,000
$840,000
-5% Price Drop
Initial Listing
Mar 4, 2026
$840,000
Initial Listing
Mar 29, 2006
$510,000
Public Record
Jul 31, 1998
$140,000
Public Record