331 N Reese, Burbank, California 91506, Burbank, 91506 - 3 bed, 2 bath
331 N Reese
Burbank, California 91506
Property Price
SUMMARY
Analysis of 331 N Reese, Burbank, California 91506 reveals a Fairly Priced Property with a current list price of $1,499,000 aligned with the estimated $1,457,548 Fair Market Value. This represents a stable investment opportunity at market rate. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Burbank Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Estimated Market Value
Comparable Sales Map
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 331 N Reese Subject | $1,499,000* List Price | 3 | 2 | 1,921 | $759 | - |
A 516 N Brighton Sold | $1,283,000 | 3 | 2 | 1,779 | $721 | 0.4 mi |
B 405 N Beachwood Sold | $1,520,000 | 3 | 2 | 1,629 | $933 | 0.2 mi |
C 831 N Myers Street Sold | $1,200,000 | 3 | 2 | 1,603 | $749 | 0.6 mi |
D 311 N Shelton Sold | $1,375,000 | 3 | 3 | 1,880 | $731 | 0.4 mi |
E 330 N Myers St. Sold | $1,525,000 | 3 | 2 | 1,844 | $827 | 0.3 mi |
F 405 N Brighton Sold | $1,250,000 | 4 | 3 | 1,732 | $722 | 0.4 mi |
G 532 N Reese Active | $1,199,999 List Price | 3 | 2 | 1,701 | $705 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
Property is moderate renovation needed.
The property is well-maintained and move-in ready, but it retains much of its vintage character from the 1940s. The kitchen features dated tile countertops and older white appliances, while the bathrooms show signs of being updated 15-30 years ago rather than recently. While the addition of 30 paid solar panels is a significant functional upgrade, the overall interior aesthetic, including older light fixtures and traditional flooring, aligns with the 'fair' category for a home that is functional but shows signs of being outdated.
PROSSTRENGTHS & OPPORTUNITIES
- Income Potential
The permitted family room has been converted into a two-bedroom, one-bath unit with a separate entrance, offering excellent opportunities for rental income or multi-generational living.
- Energy Efficiency
The property includes 30 solar panels that are fully paid in full, providing the new owner with substantial long-term savings on electricity costs.
- Prime Burbank Location
Ideally situated near highly-rated schools, parks, and popular restaurants, this home offers the quintessential Burbank lifestyle in a high-demand neighborhood.
CONSRISKS & DEFICIENCIES
- Vintage Infrastructure
Built in 1940, the home may require modern updates to its core systems or cosmetic finishes to align with contemporary buyer expectations.
- Record Discrepancies
The physical layout differs from the assessor's records due to the conversion, which could potentially complicate the appraisal process or traditional financing for some lenders.
About 331 N Reese
Nicely kept cozy home near parks, Schools, restaurants and stores in Burbank. Assesors record shows 3 bedrooms & 2 bath, however the permited family room was converted to a 2 bedrooms and a bath with separate entrance which could be rented out (permits available when requested). another bonus is that the Solar panels are paid in full a total of 30 panels.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1940
- Lot Size
- 6,746 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,921 | 1,611 | 73% |
| Lot Size | 6,746 | 6,750 | 42% |
| Price | $1.50M | $1.39M | 67% |
| Price per sq ft | $780 | $843 | 38% |
| Built year | 1940 | 1940 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 42 | 164 | 4% |
Pricing History
Listed for Sale
Jan 23, 2026
$1,499,000
Initial Listing