4700 Dunas Lane, Tarzana, California 91356, Tarzana, 91356 - 3 bed, 2 bath
ACTIVE$1,799,000
4700 Dunas Lane, Tarzana, California 91356
3Beds
2Baths
2,034Sqft
17,439Lot
Year Built
1956
Close
-
List price
$1.8M
Original List price
$1.8M
Price/Sqft
$884
HOA
-
Days on market
-
Sold On
-
MLS number
SR25030345
Home ConditionTear down
Features
Good View: City Lights, Mountain(s)
ViewCity Lights,Mountain(s)
About this home
Possibly Over-Priced:The estimated price is 39% below the list price. We found 3 Cons,6 Pros. Rank: price - $1.80M(47th), sqft - 2034(25th), beds - 3(26th), baths - 2(22th).
VERY RARE OPPORTUNITY! This property is a hidden gem on the South Side of the Boulevard! Great Mountain and City Views. Seller has already secured the permits and plans for the remodel. New Remodel will come with ADU (2 beds plus 1 Bath). New project will come with 5 Beds and 3 Baths total after project completion. Everything is Ready to Build.
Nearby schools
3/10
Tarzana Elementary School
Public,•K-5•1.7mi
3/10
Vanalden Avenue Elementary School
Public,•K-5•2.2mi
8/10
Lanai Road Elementary School
Public,•K-5•2.2mi
6/10
Newcastle Elementary School
Public,•K-5•2.4mi
6/10
Gaspar De Portola Middle School
Public,•6-8•1.1mi
5/10
William Mulholland Middle School
Public,•6-8•2.9mi
3/10
William Mulholland Middle School
Public,•6-8•3.0mi
5/10
Woodland Hills Charter Academy
Public,•6-8•3.4mi
4/10
Reseda Senior High School
Public,•9-12•2.5mi
Condition Rating
Tear down
The property, built in 1956, is explicitly marketed as a 'VERY RARE OPPORTUNITY' with 'permits and plans for the remodel' already secured, and 'Everything is Ready to Build.' The listing provides only renderings of the proposed new, modern home and ADU, with no images of the current 1956 structure. This strongly indicates that the existing house is not considered a valuable asset in its current state and requires substantial rehabilitation or demolition to make way for the approved new project. The property's value is primarily in the land, location, views, and the pre-approved development potential, aligning with the 'Tear-down' criteria where the structure is beyond repair or its value is solely based on the land and 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 = 17439, living area = 2034.
Pre-Approved Development Potential: Seller has secured permits and plans for a significant remodel, including an ADU, expanding the property to 5 beds and 3 baths, offering a ready-to-build project.
Prime Location: Situated on the desirable 'South Side of the Boulevard' in Tarzana, indicating a prestigious and sought-after address.
Exceptional Views: Offers great mountain and city views, a premium feature that enhances property appeal and value.
ADU Potential: The approved plans include an Accessory Dwelling Unit (ADU), providing potential for rental income, multi-generational living, or a dedicated home office.
Generous Lot Size: A substantial 17,439 sqft lot offers ample space for outdoor amenities, privacy, and future landscaping.
Cons
Significant Overpricing: The current list price of $1.799M is considerably above the estimated market value of $1.081M (estimation ratio -39%), indicating a potential overvaluation that may deter buyers.
Requires Immediate Investment/Renovation: Despite approved plans, the property is not move-in ready and requires a substantial remodel, incurring additional costs and time for the buyer to realize its full potential.
Original Construction Age: Built in 1956, the existing structure is older, which may entail unforeseen renovation challenges or require updates beyond the approved plans.