4405 Carpenter Avenue, Studio City, California 91607, Studio City, 91607 - 2 bed, 2 bath
ACTIVE$2,095,000
4405 Carpenter Avenue, Studio City, California 91607
2Beds
2Baths
1,793Sqft
18,793Lot
Price Vs. Estimate
Estimation data not available
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 = 18793, living area = 1793.
Top Cons:
Development Process & Costs: The SB9 subdivision and development plans are 'in process,' indicating that significant time, effort, and financial investment will be required for permits, architectural fees, and construction to realize the full potential.
Compared to the nearby listings
Price:$2.10M vs avg $1.37M (+$725,000)78%
Size:1,793 sqft vs avg 1,793 sqft50%
Price/sqft:$1.2K vs avg $79893%
More Insights
Built in 1941 (84 years old).
Condition: Built in 1941, the property exhibits extreme age and neglect, with severely outdated interiors, peeling paint, and a neglected pool. The kitchen features old tile countertops, rustic dark wood cabinets, and an older black range, indicating no significant renovations in many decades. The listing itself highlights the property as an 'exceptional development opportunity' and suggests the existing house 'may necessitate substantial renovation or demolition,' confirming its value lies primarily in the land for redevelopment rather than the current structure.
Year Built
1941
Close
-
List price
$2.1M
Original List price
$2.1M
Price/Sqft
$1,168
HOA
-
Days on market
-
Sold On
-
MLS number
SR25276766
Home ConditionTear down
Features
Pool
Patio
View
About this home
Situated on an expansive corner lot in one of the most desirable pockets of Studio City, this exceptional development opportunity is offered with an SB9 subdivision currently in process and plans underway. The proposed plan includes two main residences totaling approx 3,000 sq ft with 5-beds and 5-baths, along with two detached ADUs offering an additional 1,200 sq ft with 3-beds and 3-baths - for a total of 4 residences on the property. There is an existing house that has 2-beds and 2-baths. This property is ideally located within the award-winning Colfax School District, nearby top private schools, and is just moments away from the Studios, Ventura Boulevard’s renowned shopping and dining, the Studio City Farmers Market, Tujunga Village and so much more.
Condition Rating
Tear down
Built in 1941, the property exhibits extreme age and neglect, with severely outdated interiors, peeling paint, and a neglected pool. The kitchen features old tile countertops, rustic dark wood cabinets, and an older black range, indicating no significant renovations in many decades. The listing itself highlights the property as an 'exceptional development opportunity' and suggests the existing house 'may necessitate substantial renovation or demolition,' confirming its value lies primarily in the land for redevelopment rather than the current structure.
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 = 18793, living area = 1793.
Exceptional Development Opportunity: The property is presented as an exceptional development opportunity with an SB9 subdivision currently in process and plans underway for two main residences and two detached ADUs, totaling four units.
Prime Studio City Location: Situated in a highly desirable pocket of Studio City, moments away from major studios, Ventura Boulevard's renowned shopping and dining, the Farmers Market, and Tujunga Village.
Expansive Corner Lot: The property boasts a large 18,793 sq ft corner lot, providing ample space and flexibility for the proposed multi-unit development.
Top-Tier School District: Located within the award-winning Colfax School District and nearby top private schools, which is a significant draw for families and enhances long-term property value.
Potential for Multiple Income Streams: The proposed development of four residences (two main homes and two ADUs) offers substantial potential for rental income or multi-generational living arrangements.
Cons
Development Process & Costs: The SB9 subdivision and development plans are 'in process,' indicating that significant time, effort, and financial investment will be required for permits, architectural fees, and construction to realize the full potential.
Age and Condition of Existing Structure: Built in 1941, the existing 2-bed, 2-bath house is likely dated and may necessitate substantial renovation or demolition, adding to the overall project cost and complexity for a developer.
High Entry Price for Undeveloped Potential: The $2.095M list price is a significant investment for a property whose primary value lies in its future development potential rather than its current habitable state, narrowing the buyer pool to specific investors or developers.