482 E Santa Anita Avenue, Burbank, California 91501, Burbank, 91501 - 3 bed, 2 bath

482 E Santa Anita Avenue, Burbank, California 91501 home-pic-0
ACTIVE UNDER CONTRACT$709,250
482 E Santa Anita Avenue, Burbank, California 91501
3Beds
2Baths
1,304Sqft
5,796Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Desirable Location: Situated in Burbank, a highly sought-after Southern California city known for its strong job market (entertainment industry), good schools, and community amenities.
Top Cons:
Non-Conforming Lot Width: The 38 ft lot width is below Burbank's 50 ft minimum, creating significant hurdles for new construction, additions, or even obtaining permits, severely impacting development potential.

Compared to the nearby listings

Price:$709.2K vs avg $1.47M ($-760,750)6%
Size:1,304 sqft vs avg 1,709 sqft26%
Price/sqft:$544 vs avg $83210%

More Insights

Built in 1923 (102 years old).
Condition: The property, built in 1923, is explicitly described as being in 'SUBSTANDARD CONDITION!' and sold for 'Parcel Value Only.' The listing also states 'No Interior Inspections!' and 'as is, where is, with no warranty expressed or implied,' indicating severe structural or functional issues. The exterior images confirm extreme neglect, with dilapidated structures, peeling paint, and overgrown landscaping. Given the age, the explicit 'substandard' condition, and the sale being for 'parcel value only,' the existing structure is clearly beyond repair and its value is solely in the land, aligning perfectly with the 'tear-down' criteria.
Year Built
1923
Close
-
List price
$709K
Original List price
$619K
Price/Sqft
$544
HOA
-
Days on market
-
Sold On
-
MLS number
25609437
Home ConditionTear down
Features
View-

About this home

Probate Sale! Karoline Leichtfried Trust. ALL CASH SALE! Buyer must provide 10% Cashiers Check payable to the KAROLINE LEICHTFRIED TRUST and Proof of Funds! This property is subject to confirmation and overbidding, the listing price is the minimum overbid, court date and time is January 5th 2025 at 8:30 AM in Dept 2D at 111 N Hill Street, Los Angeles CA 90012. This 3 bed; 2 bath Single Family Home built in 1923 features +/-1,304 Sq Ft of living space, +/-5,794 Sq Ft lot, Zoned BUR4*; APN: 2455-003-019. SUBSTANDARD CONDITION! This property is being sold for Parcel Value Only. The lot's 38 ft width does not conform to the City of Burbank's minimum lot width of 50 ft. Buyer must rely on their own investigation of Burbank development standards before purchasing. There will be No Interior Inspections! This Property is offered together with improvements thereon as is, where is, with no warranty expressed or implied. (Timing of hearing is subject to the courts calendar approximately 60-days after the initial offer deadline date).

Condition Rating
Tear down

The property, built in 1923, is explicitly described as being in 'SUBSTANDARD CONDITION!' and sold for 'Parcel Value Only.' The listing also states 'No Interior Inspections!' and 'as is, where is, with no warranty expressed or implied,' indicating severe structural or functional issues. The exterior images confirm extreme neglect, with dilapidated structures, peeling paint, and overgrown landscaping. Given the age, the explicit 'substandard' condition, and the sale being for 'parcel value only,' the existing structure is clearly beyond repair and its value is solely in the land, aligning perfectly with the 'tear-down' criteria.
Pros & Cons

Pros

Desirable Location: Situated in Burbank, a highly sought-after Southern California city known for its strong job market (entertainment industry), good schools, and community amenities.
Development/Redevelopment Potential: Sold for 'Parcel Value Only' and in 'SUBSTANDARD CONDITION,' this property offers a blank slate for a developer or investor to build new or undertake a major renovation.
Generous Lot Size: A +/- 5,794 Sq Ft lot provides ample space for a new build, significant landscaping, or potential expansion, which is valuable in an urban setting.
Favorable Bed/Bath Count: The existing 3-bedroom, 2-bathroom configuration is highly desirable for families and provides a strong foundation for a renovated or new single-family home.
Zoning (BUR4*): The BUR4* zoning, while needing careful investigation due to lot width, can offer specific development opportunities or flexibility that may appeal to experienced investors.

Cons

Non-Conforming Lot Width: The 38 ft lot width is below Burbank's 50 ft minimum, creating significant hurdles for new construction, additions, or even obtaining permits, severely impacting development potential.
Complex Probate & All-Cash Sale: The probate sale process, requiring all cash, a 10% cashier's check, and subject to court confirmation and overbidding, makes the acquisition highly restrictive, uncertain, and lengthy.
Substandard Condition & No Inspections: Explicitly in 'SUBSTANDARD CONDITION,' sold 'as is, where is,' and with 'No Interior Inspections,' the property presents substantial unknown risks, likely requiring extensive demolition or renovation, and limits buyer due diligence.

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