5221 Satsuma, North Hollywood, California 91601, North Hollywood, 91601 - 2 bed, 1 bath
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North Hollywood, California 91601
This High-Density Development Asset represents a High-Potential Investment Opportunity listed at $1,350,000, which reflects a stable entry point at its $1,350,000 Fair Market Value. Currently holding a Condition Rating of 5, the property is an "as-is" structure where the primary value resides in the LAR3 Zoning and the 5,401 sqft Deep Lot. Located in the Los Angeles Unified School District near the NoHo Arts District, the site supports multi-unit redevelopment consistent with neighboring multi-family assets. This is a strategic acquisition for Real Estate Developers or Multi-Family Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5221 Satsuma Subject | $1,350,000* List Price | 2 | 1 | 840 | $1,607 | - |
A 5421 Denny Avenue Pending | $1,200,000 List Price | 2 | 1 | 776 | $1,546 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1922, this property is over 100 years old and is explicitly described as a 'diamond in the rough' requiring 'substantial capital investment for either renovation or redevelopment.' The kitchen is significantly outdated with original-style wood cabinets, tile countertops, and tile flooring. While the main bathroom shows some updates with a newer vanity and floor, the overall home features older systems (wall heater, mini-split AC) and finishes that require substantial rehabilitation to meet current quality standards. It is currently livable but needs extensive modernization.
The property's LAR3 zoning designation offers significant development potential for multi-unit structures, aligning with neighboring apartment and quadruplex properties.
Situated in a 'fabulous' neighborhood, close to the North Hollywood Arts District, diverse restaurants, and shopping, enhancing its appeal for future residents or tenants.
A 'deep lot' of 5401 sqft, coupled with LAR3 zoning, provides ample space for a significant redevelopment project.
Built in 1922, the existing single-family residence is likely to require extensive modernization, repairs, or complete demolition for redevelopment, incurring additional costs.
The existing 2-bedroom, 1-bathroom, 840 sqft dwelling is small and may not meet the needs of many traditional homebuyers, making its primary value in the land and zoning.
The 'diamond in the rough' description strongly suggests the property is not move-in ready and will require substantial capital investment for either renovation or redevelopment, adding to the overall project cost and timeline.
PRICE IMPROVEMENT - Diamond in the rough. Offering one of a kind LAR3 property in this fabulous North Hollywood neighborhood. Close to North Hollywood Arts District, restaurants, & shopping. Deep lot, just imagine what you can do with this property. The two neighboring properties are also LAR3 out of which one is an Apartment Complex and the other is a Quadruplex. Check with building & zoning. Sold as is.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 18% |
| Baths | 1.0 | 2.0 | 11% |
| Square foot | 840 | 1,584 | 2% |
| Lot Size | 5,401 | 6,496 | 20% |
| Price | $1.35M | $1.12M | 61% |
| Price per sq ft | $1.6K | $735 | 98% |
| Built year | 1922 | 1941 | 2% |
| HOA | $0 | $0 | 50% |
| Days on market | 156 | 183 | 39% |
Feb 1, 2026
$1,350,000
$1,500,000
-10% Price Drop
Initial Listing
Nov 17, 2025
$1,500,000
Initial Listing