
Topanga, California 90290
Analysis of 21007 Dr. Waveview Drive, Topanga, California 90290 is currently available with a list price of $2,200,000. The property maintains a Poor Condition Rating (30/100), indicating the property requires renovation and updates to maximize its market potential. This presents opportunities for value-add investors. Located in a high-demand neighborhood within the Topanga Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Property is extensive renovation needed.
Built in 1936, this property retains mostly original features including a vintage kitchen and dated tilework. The description explicitly mentions the need to restore outdoor amenities to their former glory, indicating a requirement for significant rehab and modernization of systems and interiors.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 33500, living area = 4450.
Known as the 'Grande Dame' of the PO Tract, this 1936 estate features artisan craftsmanship, ironstone fireplaces, and vaulted ceilings that offer a unique and storied vintage aesthetic.
The expansive 4,450 sqft layout includes a versatile lower level—formerly a recording studio—that can serve as a private two-bedroom apartment or a professional home office suite.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =33500, other record lot size in square feet = 19602.
The pool, gazebo, and play house are explicitly noted as needing restoration, suggesting substantial immediate capital improvement costs for the exterior grounds.
Built in 1936, the home likely requires extensive updates to its aging infrastructure and original finishes to meet modern efficiency and comfort standards.
Waveview Lodge, the Grande Dame of Topanga's coveted PO Tract, is ready for her next chapter. A storied home built with an artisan's eye to the standards of a bygone era. Set on two generous parcels totaling roughly 3/4 of an acre, the home is anchored by a great room showcasing an eye-catching ironstone fireplace, vaulted ceilings with exposed beams, and direct access to the sunroom, with its walls of glass perfectly situated to soak up the afternoon rays. Here you'll also find one of 6 bedrooms, boasting an ensuite bath with original tilework, a walk-in closet, and a built-in upholstered bench with a commanding view of the patio, gardens, and stables. Formal dining and music rooms, each with doors leading to the patio, another 3/4 bathroom, and a spacious kitchen with timeless charm and vintage stove set against earth-toned tile, ample storage and built-ins, along with a dedicated laundry area, complete the main floor. Upstairs you'll find 2 more bathrooms with whimsical tile mosaics and 4 right-sized and sunny bedrooms, one with the home's second eye-catching fireplace and hearth. All this, plus an entire lower level, historically used as a recording studio, but ready to be its own home office suite or 2-bedroom apartment for multigenerational living or rental. The capstone is the in-ground pool, gazebo, and play house, ready to be restored to their formal glory.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 6.0 | 3.0 |
| Baths | 5.0 | 2.2 |
| Square foot | 4,450 | 1,632.214 |
| Lot Size | 33,500 | 19,599.643 |
| Price | $2.20M | $1.42M |
| Price per sq ft | $494 | $738 |
| Built year | 1936 | 1963 |
| HOA | $0 | $650 |
| Days on market | 13 | 71 |
Aug 27, 2026
$2,200,000
Initial Listing