4298 Panorama Drive, La Mesa, California 91941, La Mesa, 91941 - 3 bed, 1 bath
ACTIVE$600,000$1,092/sqft
Est. Value: $564,874
-5%
AboveEstimate
4298 Panorama Drive, La Mesa, California 91941
3Beds
1Bath
1,092Sqft
21,922Lot
Price Vs. Estimate
The estimated value ($564,874.225) is $35,125.775 (5%) lower than the list price ($600,000). 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 = 21922, living area = 1092.
Top Cons:
Cash Only Sale / Not Financeable: This is a critical limitation, as the property is explicitly stated as 'CASH ONLY SALE' and 'NOT Financeable,' severely restricting the pool of eligible buyers.
Compared to the nearby listings
Price:$600.0K vs avg $1.09M ($-489,000)1%
Size:1,092 sqft vs avg 1,995 sqft11%
Price/sqft:$549 vs avg $55348%
More Insights
Built in 1955 (71 years old).
Condition: Built in 1955 with an 'original 1955 layout' and 'substantial deferred maintenance,' this property is explicitly marketed as a 'FIXER' where the 'Value in the land' is the primary asset. It is 'NOT Financeable,' indicating its condition is too poor for conventional lending. The description as a 'true blank canvas' for investors and builders, combined with the age and lack of renovation, aligns perfectly with a tear-down where the structure is beyond economical repair and the value is in redevelopment potential.
Year Built
1955
Close
-
List price
$600K
Original List price
$600K
Price/Sqft
$549
HOA
-
Days on market
-
Sold On
-
MLS number
PTP2600394
Home ConditionTear down
Features
ViewNeighborhood
About this home
FIXER — Value in the land. CASH ONLY SALE. Exceptional opportunity to renovate the existing home and unlock significant upside on this ½-acre lot with potential for a Jr. ADU and detached ADU (buyer to verify). The home features original 1955 layout with substantial deferred maintenance, offering a true blank canvas for investors, builders, contractors, landlords or end-users with DIY skills looking to create value. Tenant occupied — limited access. Sold in as-is condition. NOT Financeable.
N
Noelle Gramstad
Listing Agent
Condition Rating
Tear down
Built in 1955 with an 'original 1955 layout' and 'substantial deferred maintenance,' this property is explicitly marketed as a 'FIXER' where the 'Value in the land' is the primary asset. It is 'NOT Financeable,' indicating its condition is too poor for conventional lending. The description as a 'true blank canvas' for investors and builders, combined with the age and lack of renovation, aligns perfectly with a tear-down where the structure is beyond economical repair and the value is in redevelopment 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 = 21922, living area = 1092.
Large Lot Size: The property boasts a substantial 21,922 sqft (approximately ½-acre) lot, offering significant land value and potential for expansion or additional structures.
ADU Potential: Explicitly noted potential for both a Jr. ADU and a detached ADU, providing excellent opportunities for rental income, multi-generational living, or increased property value.
Renovation Opportunity: Marketed as a 'FIXER' and 'true blank canvas,' this property is ideal for investors, builders, contractors, or DIY-savvy end-users looking to create significant value through renovation.
Upside Potential: The description highlights the opportunity to 'unlock significant upside' post-renovation, appealing to buyers focused on long-term appreciation and equity growth.
Desirable Location: Located in La Mesa, a sought-after San Diego suburb, with a 'Panorama Drive' address and confirmed 'Neighborhood' view, suggesting a potentially desirable residential area.
Cons
Cash Only Sale / Not Financeable: This is a critical limitation, as the property is explicitly stated as 'CASH ONLY SALE' and 'NOT Financeable,' severely restricting the pool of eligible buyers.
Substantial Deferred Maintenance: The home features 'substantial deferred maintenance' and is sold 'as-is,' indicating significant immediate investment will be required for repairs and upgrades.
Tenant Occupied / Limited Access: The property is tenant-occupied with 'limited access,' which can complicate showings, inspections, and the overall transaction process, potentially delaying renovation plans.