4874 Palo Drive, Tarzana, California 91356, Tarzana, 91356 - 4 bed, 3 bath
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Tarzana, California 91356
This Development Opportunity is a High-Potential Investment Opportunity listed at $1,750,000, aligning with its $1,754,262 Fair Market Value. Marketed primarily for Land Value, this asset features a massive 30,104 Sqft Lot in the historic Tarzana Ranch subdivision. Currently holding a Fair Condition Rating, the property offers a Main Residence, a Detached Guest Unit (ADU), and an Olympic-style Pool. Located South of Ventura Blvd near Top-Rated Schools like Lanai Road Elementary, this "Value-Add" project is perfectly suited for Developers or Contractors looking to build a custom estate.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 4874 Palo Drive Subject | $1,650,000* List Price | 4 | 3 | 2,200 | $775 | - |
A 19291 Berclair Lane Sold | $1,750,000 | 3 | 3 | 2,125 | $824 | 0.6 mi |
B 19404 Olivos Drive Sold | $1,650,000 | 3 | 2 | 1,830 | $902 | 0.0 mi |
C 4420 Conchita Way Sold | $1,920,000 | 4 | 3 | 2,574 | $746 | 0.6 mi |
D 4745 Caritina Drive Sold | $1,709,500 | 4 | 4 | 2,702 | $633 | 0.1 mi |
E 4747 Ellenita Sold | $1,875,000 | 4 | 3 | 2,844 | $659 | 0.3 mi |
F 19122 Weston Active | $1,750,000 List Price | 4 | 3 | 2,477 | $706 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1942, this property is marketed as a 'fixer' or 'development opportunity' primarily for its land value, but the physical structure remains in fair, livable condition. The interior features well-maintained hardwood and bamboo flooring, crown moldings, and clean paint. However, the kitchen is significantly outdated with vintage appliances and older cabinetry, and the presence of window AC units suggests a lack of modern central HVAC. While the listing mentions a newer roof and upgraded plumbing, the overall style and fixtures are aged and require modernization to meet current market standards.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 30104, living area = 2200.
Spanning over 30,000 square feet in the prestigious South of Ventura Boulevard area, this massive lot offers a rare 'blank canvas' opportunity for developers or end-users to create a custom luxury estate.
Located in the historic Tarzana Ranch subdivision, the property boasts a rich pedigree and is situated in a quiet, private neighborhood known for its legacy homes and high-performing schools.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2200, other record living area = 1652. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 2.
Marketed as a 'fixer' and sold in 'as-is' condition for land value, the property will require substantial capital investment to modernize or rebuild the existing structures.
At approximately 1,652 square feet, the main home is relatively small for such an expansive lot, likely necessitating a full teardown or major expansion to maximize the land's financial potential.
Presenting a rare and exceptional opportunity for developers, contractors or end-users. Offered for the first time in decades, this unique property was originally part of the early 1940's subdivision of Tarzana Ranch, developed by Edgar Rice Burroughs. Nestled in a highly sought-after estate neighborhood South of Ventura Boulevard, this expansive property spans over 30,000 square feet of quiet, private grounds surrounded by Legacy homes. For decades, families have raised their children here, drawn to the neighborhood's rare sense of peace, safety, and enduring community. Located within a wonderful area known for its outstanding schools, the setting offers both tranquility and long-term value. The property features a charming two-story Southern-style residence plus Guest Unit designed by the granddaughter of William Jenning Bryan. The main home offers 2-bedrooms, formal dine and 2- baths with bamboo and hardwood floors, crown moldings, two fireplaces, high ceilings and large closets. An Olympic-style pool enhances the outdoor living experience. In addition, a detached Guest Unit (ADU) above the two-car garage includes 2 bedrooms, 1 bath and fireplace, currently occupied by a family member. The main home is approximately 1,652 sf and Guest Unit is approximately 600 sf. With a newer roof and upgraded plumbing already in place, this property presents an ideal canvas for remodeling, expansion, or development. Offered AS-IS and priced for Land Value, this is a rare chance to create something truly special in one of Tarzana's most desirable neighborhoods. Opportunities like this are few and far between---don't miss it. Bring your Contractors, Developers & End Users to this amazing, "Value- Add", "Fixer" and/or "Development Opportunity". Hurry....Wont Last!
No exterior & parking available.
Grades K-5 • 1.3 mi
Grades K-5 • 1.8 mi
Grades K-5 • 2.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.0 | 50% |
| Baths | 3.0 | 4.0 | 47% |
| Square foot | 2,200 | 2,838 | 19% |
| Lot Size | 30,104 | 17,536 | 90% |
| Price | $1.65M | $1.88M | 29% |
| Price per sq ft | $750 | $662 | 70% |
| Built year | 1942 | 1964 | 8% |
| HOA | $0 | $0 | 50% |
| Days on market | 64 | 157 | 7% |
May 23, 2026
$1,650,000
$1,750,000
-6% Price Drop
Initial Listing
Apr 12, 2026
$1,750,000
Initial Listing