5324 Irvine Avenue, North Hollywood, California 91601, North Hollywood, 91601 - 3 bed, 3 bath

5324 Irvine Avenue, North Hollywood, California 91601 home-pic-0
ACTIVE$1,599,000
5324 Irvine Avenue, North Hollywood, California 91601
3Beds
3Baths
1,967Sqft
6,489Lot

Price Vs. Estimate

The estimated value ($933,483.83) is $665,516.17 (41%) lower than the list price ($1,599,000). This property may be overpriced.

Key pros and cons

Top Pros:
Extensive Modern Upgrades: The property boasts a comprehensive list of recent upgrades including a new roof, HVAC, A/C, tankless water heater, copper plumbing, solar panels, and advanced security systems, significantly reducing immediate maintenance concerns for a new owner.
Top Cons:
Significant Price Discrepancy: The listing price of $1,599,000 is substantially higher than the property's estimated value of $933,483, suggesting a potential overvaluation that could deter buyers or necessitate price adjustments.

Compared to the nearby listings

Price:$1.60M vs avg $1.15M (+$449,000)69%
Size:1,967 sqft vs avg 1,764 sqft64%
Price/sqft:$813 vs avg $73564%

More Insights

Built in 1937 (88 years old).
Condition: Despite being built in 1937, this property has undergone an extensive, high-quality renovation, bringing all major systems and aesthetics to modern standards. The description highlights numerous recent upgrades including a new roof, HVAC, A/C, tankless water heater, copper plumbing, and solar panels. The kitchen features high-end Thermador appliances, a six-burner stove, farmhouse sink, and a beautiful, modern arabesque tile backsplash. The main bathroom boasts luxurious heated marble floors, a floating double vanity with under-lighting, a large skylight, and a shower with three heads, a marble bench, and natural pebble floor. Brazilian oak flooring is consistent throughout the house. All visible areas and described features indicate a property that is virtually new in terms of quality and style, with no deferred maintenance, aligning perfectly with the 'excellent' condition criteria for a recently and extensively renovated home.
Year Built
1937
Close
-
List price
$1.6M
Original List price
$1.6M
Price/Sqft
$813
HOA
-
Days on market
-
Sold On
-
MLS number
25538547
Home ConditionExcellent
Features
Pool
Spa
Patio
View-

About this home

Summer is approaching and this beautiful home-sweet-home, centrally located in Valley Village, with private salt-water pool and spa, surrounded with bamboo, is looking for a new owner. Ready for you to move in, and celebrate by the pool and two separate BBQ areas! OR AS AN INVESTMENT PROPERTY! Currently on Airbnb earning over $100K annually. This private oasis, tastefully and beautifully done, awaits you and your guests. The home features 3 bedrooms, 2 full bathrooms, a powder room, family room, living room, dining room, and a Chef's kitchen displaying a beautiful backsplash. The house UPGRADES' feature New Presidential shingle roof, tankless water heater, pool Aqualink System, new Hayward pool heater, water filtration system, whole house water filter, security gate with intercom system, Dave-Lennox HVAC, New A/C unit, R-38 insulation in attic, copper plumbing, solar panels, Brazilian oak flooring throughout the house, exterior video cameras, ADT security system and Nest Thermostat. As you come in through the front yard, featuring Ranchio-Smart sprinkler system, stone veneer, and a mature willow tree, you'll find a well manicured grassy area, perfect for pets. A long driveway with gate, and space for about 4 cars PLUS a detached garage with ADU potential. The living room welcomes you through a sitting-front porch area. As you enter, you're welcome by beautiful oak flooring throughout and a fire place. The Chef's kitchen, featuring a beautiful cooking setting, with Thermador appliances, includes a six-burner stove with oven, microwave, farmhouse sink, and a generous refrigerator. The kitchen back door gives you access to a BBQ grill, while the family room gives you access to the back private pool area, featuring a spa and covered large BBQ Perquilla-patio, with a fireplace and a fan, where you can place a large table with 8-10 chairs, for entertainment. This area features a propane BBQ, and a charcoal BBQ with additional burner. The main bedroom features large wall mirrors, offers double-door access to spa and pool, a large walk-in closet with built ins, and a very generous beautiful bathroom with heated-marble floors, a floating double sink area with lighting underneath and a large skylight. The shower features three shower heads, marble bench and natural pebble floor. The other two bedrooms are located on the west side of the house, sharing a full size bathroom. This is a great and desirable location, with easy access to the 170 freeway, a couple of blocks away from Oakwood School Secondary Campus, NHSS, Colfax Charter Elementary School, and just a short distance from NoHo Arts District, parks, great restaurants, Universal Studios and more! This is a 1031 Exchange.

Condition Rating
Excellent

Despite being built in 1937, this property has undergone an extensive, high-quality renovation, bringing all major systems and aesthetics to modern standards. The description highlights numerous recent upgrades including a new roof, HVAC, A/C, tankless water heater, copper plumbing, and solar panels. The kitchen features high-end Thermador appliances, a six-burner stove, farmhouse sink, and a beautiful, modern arabesque tile backsplash. The main bathroom boasts luxurious heated marble floors, a floating double vanity with under-lighting, a large skylight, and a shower with three heads, a marble bench, and natural pebble floor. Brazilian oak flooring is consistent throughout the house. All visible areas and described features indicate a property that is virtually new in terms of quality and style, with no deferred maintenance, aligning perfectly with the 'excellent' condition criteria for a recently and extensively renovated home.
Pros & Cons

Pros

Extensive Modern Upgrades: The property boasts a comprehensive list of recent upgrades including a new roof, HVAC, A/C, tankless water heater, copper plumbing, solar panels, and advanced security systems, significantly reducing immediate maintenance concerns for a new owner.
Strong Income Potential: Currently generating over $100K annually on Airbnb, this property presents a proven and substantial income-generating opportunity, appealing to investors or those seeking supplemental income.
Luxurious Outdoor Amenities: Features a private salt-water pool and spa, two separate BBQ areas (including a covered patio with fireplace and fan), and a well-manicured yard, creating an ideal setting for entertainment and relaxation.
Gourmet Chef's Kitchen: Equipped with high-end Thermador appliances, a six-burner stove, farmhouse sink, and a beautiful backsplash, making it a highly attractive feature for culinary enthusiasts.
Prime Location & Accessibility: Centrally located in Valley Village with easy access to the 170 freeway, proximity to top schools, and a short distance to the NoHo Arts District, Universal Studios, and various amenities.

Cons

Significant Price Discrepancy: The listing price of $1,599,000 is substantially higher than the property's estimated value of $933,483, suggesting a potential overvaluation that could deter buyers or necessitate price adjustments.
Age of Original Structure: Despite numerous modern upgrades, the home's original construction date of 1937 means potential buyers might have concerns about the integrity of older, un-upgraded components or systems.
Unrealized ADU Potential: The detached garage is noted for 'ADU potential' but is not a completed or permitted Accessory Dwelling Unit, requiring significant additional investment and effort for a buyer to capitalize on this feature.

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