5221 Satsuma, North Hollywood, California 91601, North Hollywood, 91601 - 2 bed, 1 bath
ACTIVE$1,500,000
5221 Satsuma, North Hollywood, California 91601
2Beds
1Bath
840Sqft
5,401Lot
Price Vs. Estimate
The estimated value ($1,431,896.91) is $68,103.09 (4%) lower than the list price ($1,500,000). This property may be overpriced.
Key pros and cons
Top Pros:
High-Value LAR3 Zoning: The property boasts LAR3 zoning, indicating significant potential for multi-family development, supported by neighboring apartment and quadruplex structures.
Top Cons:
Extensive Renovation/Redevelopment Needed: As a 'diamond in the rough' built in 1922, the property will require substantial investment for modernization, repairs, or complete redevelopment.
Compared to the nearby listings
Price:$1.50M vs avg $1.15M (+$350,000)67%
Size:840 sqft vs avg 1,734 sqft3%
Price/sqft:$1.8K vs avg $73597%
More Insights
Built in 1922 (103 years old).
Condition: Built in 1922, this property is explicitly described as a 'diamond in the rough' requiring 'Extensive Renovation/Redevelopment Needed.' The images reveal an outdated interior with a visible wall-mounted gas heater, indicating a lack of modern central HVAC. While one bathroom shows a modest update to the vanity, the overall style is dated, and the second bathroom appears very basic and old. The absence of kitchen images strongly suggests it is in very poor or original condition, necessitating a complete overhaul. The property requires substantial repairs and rehabilitation to meet contemporary living standards, aligning with a 'poor' condition score.
Year Built
1922
Close
-
List price
$1.5M
Original List price
$1.5M
Price/Sqft
$1,786
HOA
-
Days on market
-
Sold On
-
MLS number
RS25261500
Home ConditionPoor
Features
Patio
ViewNeighborhood
About this home
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.
Condition Rating
Poor
Built in 1922, this property is explicitly described as a 'diamond in the rough' requiring 'Extensive Renovation/Redevelopment Needed.' The images reveal an outdated interior with a visible wall-mounted gas heater, indicating a lack of modern central HVAC. While one bathroom shows a modest update to the vanity, the overall style is dated, and the second bathroom appears very basic and old. The absence of kitchen images strongly suggests it is in very poor or original condition, necessitating a complete overhaul. The property requires substantial repairs and rehabilitation to meet contemporary living standards, aligning with a 'poor' condition score.
Pros & Cons
Pros
High-Value LAR3 Zoning: The property boasts LAR3 zoning, indicating significant potential for multi-family development, supported by neighboring apartment and quadruplex structures.
Prime North Hollywood Location: Situated in a 'fabulous' North Hollywood neighborhood, offering excellent proximity to the Arts District, diverse restaurants, and shopping.
Development-Friendly Lot: Features a 'deep lot' which, combined with the LAR3 zoning, provides ample space and flexibility for substantial expansion or redevelopment projects.
Strong Investment Potential: Described as a 'diamond in the rough,' this property presents a compelling opportunity for investors or developers seeking significant upside through renovation or ground-up construction.
Established Urban Environment: Located in North Hollywood, benefiting from a well-established urban setting with existing infrastructure and community amenities.
Cons
Extensive Renovation/Redevelopment Needed: As a 'diamond in the rough' built in 1922, the property will require substantial investment for modernization, repairs, or complete redevelopment.
Small Existing Dwelling: The current structure is a modest 2 beds, 1 bath, 840 sqft, which is undersized for the list price and likely not the primary value proposition.
High List Price for Current Condition: The $1.5M list price for a property described as a 'diamond in the rough' suggests a premium for land and zoning, potentially limiting buyers not focused on development.