19538 Leadwell, Reseda, California 91335, Reseda, 91335 - 2 bed, 1 bath
ACTIVE$975,000$2,272/sqft
Est. Value: $772,016
-20%
AboveEstimate
19538 Leadwell, Reseda, California 91335
2Beds
1Bath
2,272Sqft
9,435Lot
Price Vs. Estimate
The estimated value ($772,015.755) is $202,984.245 (20%) lower than the list price ($975,000). 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 = 9435, living area = 2272.
Top Cons:
MLS Listing Discrepancy: Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 2, other record bedroom count = 6.
Compared to the nearby listings
Price:$975.0K vs avg $850.0K (+$125,000)73%
Size:2,272 sqft vs avg 1,530.5 sqft83%
Price/sqft:$429 vs avg $56614%
More Insights
Built in 1941 (85 years old).
Condition: Built in 1941, this property is explicitly marketed to 'Attention builders' for its 'quadplex' and 'multi unit/condo potential,' indicating its value lies in the land for redevelopment. The existing 2-bed, 1-bath structure features a kitchen with very dated tile countertops and backsplash (likely 30-40+ years old) and an equally outdated bathroom. While technically livable, the house has not undergone major renovations in the past 50 years that would bring it to modern standards, and its condition is considered a 'weakness' in the property analysis. The highest and best use of this property involves demolition to capitalize on its development potential.
Year Built
1941
Close
-
List price
$975K
Original List price
$975K
Price/Sqft
$429
HOA
-
Days on market
-
Sold On
-
MLS number
SR26000812
Home ConditionTear down
Features
Patio
View-
About this home
Attention builders. Street to street property. Lot size appox 9400. Zoned RALA and shows as a quadplex. Possible small lot or multi unit/condo potential
N
Norman Pomeranz
Listing Agent
Nearby schools
5/10
Shirley Avenue Elementary School
Public,•K-5•0.4mi
3/10
Melvin Avenue Elementary School
Public,•K-5•0.5mi
4/10
Stanley Mosk Elementary School
Public,•K-5•0.5mi
4/10
Stanley Mosk Elementary School
Public,•K-5•0.5mi
5/10
Reseda Elementary School
Public,•K-5•1.2mi
3/10
Winnetka Avenue Elementary School
Public,•K-5•1.3mi
2/10
Blythe Street Elementary School
Public,•K-5•1.3mi
3/10
Vanalden Avenue Elementary School
Public,•K-5•1.6mi
3/10
Napa Street Elementary School
Public,•K-5•1.7mi
5/10
Garden Grove Elementary School
Public,•K-5•1.8mi
3/10
Bertrand Avenue Elementary School
Public,•K-5•2.0mi
6/10
Newcastle Elementary School
Public,•K-5•2.2mi
5/10
Cantara Street Elementary School
Public,•K-5•2.3mi
3/10
Anatola Avenue Elementary School
Public,•K-5•2.6mi
3/10
Anatola Avenue Elementary School
Public,•K-5•2.6mi
5/10
Lemay Street Elementary School
Public,•K-5•2.6mi
6/10
Lemay Street Elementary School
Public,•K-5•2.6mi
6/10
Lorne Street Elementary School
Public,•K-5•2.8mi
3/10
John A. Sutter Middle School
Public,•6-8•0.7mi
3/10
Northridge Middle School
Public,•6-8•2.5mi
5/10
Woodland Hills Charter Academy
Public,•6-8•2.6mi
6/10
Gaspar De Portola Middle School
Public,•6-8•2.7mi
3/10
William Mulholland Middle School
Public,•6-8•3.1mi
5/10
William Mulholland Middle School
Public,•6-8•3.3mi
4/10
Reseda Senior High School
Public,•9-12•1.9mi
7/10
Northridge Academy High
Public,•9-12•3.5mi
5/10
Valley Academy Of Arts And Sciences
Public,•9-12•5.1mi
5/10
Valley Academy Of Arts And Sciences
Public,•9-12•5.1mi
Price History
Date
Event
Price
09/18/01
Sold
$54,000
Condition Rating
Tear down
Built in 1941, this property is explicitly marketed to 'Attention builders' for its 'quadplex' and 'multi unit/condo potential,' indicating its value lies in the land for redevelopment. The existing 2-bed, 1-bath structure features a kitchen with very dated tile countertops and backsplash (likely 30-40+ years old) and an equally outdated bathroom. While technically livable, the house has not undergone major renovations in the past 50 years that would bring it to modern standards, and its condition is considered a 'weakness' in the property analysis. The highest and best use of this property involves demolition to capitalize on its development potential.
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 = 9435, living area = 2272.
Exceptional Development Potential: Zoned RALA and explicitly noted for quadplex, small lot, or multi-unit/condo potential, making it highly attractive to developers and investors.
Generous Lot Size: Approximately 9,400 sqft provides ample space for significant redevelopment, multiple units, or creative architectural designs.
Street-to-Street Access: The property's street-to-street configuration offers superior accessibility, increased flexibility for design, and potential for multiple access points for future units.
Strategic Builder Focus: The listing directly targets builders, indicating the property's primary value lies in its redevelopment opportunities rather than the existing structure, streamlining the sales process for its intended audience.
Location in Reseda: Situated in Reseda, an area within the San Fernando Valley experiencing ongoing development and demand for new housing, providing a favorable market for future projects.
Cons
MLS Listing Discrepancy: Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 2, other record bedroom count = 6.
Age and Condition of Existing Structure: Built in 1941, the existing 2-bed, 1-bath home is likely outdated and may require extensive renovation or demolition, adding significant costs and time to a development project.
Niche Buyer Pool: The property's primary appeal is to builders and developers due to its zoning and potential, which limits the market to a specific type of buyer and may deter traditional single-family home purchasers.
High Entry Price for Development: While justified by development potential, the $975,000 list price represents a substantial initial investment, requiring a well-capitalized developer to undertake the project.