4905 Palo Drive, Tarzana, California 91356, Tarzana, 91356 - 6 bed, 5 bath
ACTIVE UNDER CONTRACT$1,499,000
4905 Palo Drive, Tarzana, California 91356
6Beds
5Baths
3,841Sqft
40,130Lot
Year Built
1961
Close
-
List price
$1.5M
Original List price
$1.7M
Price/Sqft
$390
HOA
-
Days on market
-
Sold On
-
MLS number
SR25133582
Home ConditionPoor
Features
Patio
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.50M(50th), sqft - 3841(50th), beds - 6(50th), baths - 5(50th).
Attention Developers and/or lovers of land....Nearly an acre parcel nestled amongst majestic trees in this desirable “South of Blvd” locale. This section of Tarzana has so much warmth, character & charm, truly an ideal escape from it all. Remodel the two structures that exist & stay forever or remove & craft a new masterpiece for yourself or spec for another. 4905 is a two-story 3 + 3 of 1,854 sq. ft. & 4907 is a 1,987 sq. ft. 3 + 2 with an adjacent detached storage building. This one is unlike the others….come stroll these grounds & let your imagination run wild. Sought-after schools too!
Nearby schools
3/10
Tarzana Elementary School
Public,•K-5•1.3mi
3/10
Vanalden Avenue Elementary School
Public,•K-5•1.7mi
6/10
Newcastle Elementary School
Public,•K-5•2.8mi
8/10
Lanai Road Elementary School
Public,•K-5•3.8mi
6/10
Gaspar De Portola Middle School
Public,•6-8•1.0mi
5/10
Woodland Hills Charter Academy
Public,•6-8•1.9mi
5/10
William Mulholland Middle School
Public,•6-8•3.7mi
3/10
William Mulholland Middle School
Public,•6-8•3.8mi
4/10
Reseda Senior High School
Public,•9-12•2.6mi
Price History
Date
Event
Price
08/09/25
Price Change
$1,499,000
06/16/25
Listing
$1,699,000
Condition Rating
Poor
Built in 1961, this property is explicitly marketed to developers with options to 'remodel the two structures' or 'remove & craft a new masterpiece.' The exterior images reveal significant age and disrepair, including worn siding/stucco, outdated windows, an exposed electrical meter, and a visible window AC unit, indicating major systems are likely beyond their useful life. The complete absence of interior photos strongly suggests the kitchens, bathrooms, and other internal components are severely outdated, in disrepair, and require substantial rehabilitation or complete replacement. The property is not move-in ready and would require extensive investment to be habitable and meet modern standards.
Pros & Cons
Pros
Exceptional Development Potential: The property boasts a nearly one-acre parcel (40,130 sq ft) explicitly marketed to developers, offering significant potential to build a new masterpiece or undertake extensive renovation.
Prime 'South of Blvd' Location: Situated in a highly desirable 'South of Blvd' Tarzana locale, known for its warmth, character, charm, and an ideal escape from urban bustle.
Income-Generating Duplex Configuration: Comprising two separate structures (3+3 and 3+2), the property is classified as 'Residential Income' and a 'Duplex,' providing flexibility for rental income or multi-generational living.
Access to Highly-Rated Schools: The area benefits from 'sought-after schools,' including Lanai Road Elementary with an impressive 8/10 rating, enhancing family appeal.
Significant Price Adjustment: A recent $200,000 price reduction from the original list price of $1.699M to $1.499M presents a more attractive entry point for potential buyers or investors.
Cons
Extensive Renovation/Redevelopment Required: Built in 1961, the existing structures likely require significant remodeling or complete demolition and new construction, implying substantial additional investment beyond the purchase price.
Older Property Infrastructure: Given the 1961 build year, major systems such as electrical, plumbing, and HVAC are likely outdated and will necessitate costly upgrades or replacement during any renovation.
Lack of Notable Views: The property details explicitly state 'view: None,' which could be a drawback for buyers seeking scenic vistas, especially given the large lot size and potential for new construction.