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5401 Lemona Avenue, Sherman Oaks, California 91411, Sherman Oaks, 91411 - 3 bed, 2 bath

5401 Lemona Avenue, Sherman Oaks, California 91411 home-pic-0
ACTIVE$1,345,000
5401 Lemona Avenue, Sherman Oaks, California 91411
3Beds
2Baths
1,541Sqft
6,643Lot
Year Built
1953
Close
-
List price
$1.34M
Original List price
$1.45M
Price/Sqft
$873
HOA
-
Days on market
-
Sold On
-
MLS number
SR25060027
Home ConditionPoor
Features
Pool
Patio
ViewNeighborhood

About this home

Possibly Over-Priced:The estimated price is 31% below the list price. We found 3 Cons,5 Pros. Rank: price - $1.34M(66th), sqft - 1541(54th), beds - 3(50th), baths - 2(50th).

***HUGE PRICE REDUCTION***MOTIVATED SELLER!! BRING ALL OFFERS This charming, traditional single-story home sits on a corner lot in the heart of Magnolia Woods in Sherman Oaks. Discover the opportunity to create your dream home. Great potential for an ADU, the home offers 3 bedrooms and 2 bathrooms. The inviting living room features a fireplace that adds warmth and character. The backyard is a serene and peaceful oasis, with sparkling pool and plenty of room for outdoor dining and lounging.  Minutes away from the award-winning Kester Elementary, don't miss the rare opportunity to build equity and create a home tailored to you.

Condition Rating
Poor
Built in 1953, this property explicitly states it's an 'opportunity to create your dream home' and 'build equity,' indicating a need for extensive renovation. The images confirm this, showing a severely outdated kitchen with old wooden cabinets, older appliances, and dated flooring. The bathrooms feature very old tile (including a pink/peach tiled bathroom) and outdated fixtures, suggesting they haven't been renovated in 30-50+ years. While the structure appears sound and some areas have hardwood floors, the critical functional spaces (kitchen and bathrooms) are in poor condition and require substantial rehabilitation to meet modern living standards, aligning with the 'poor' category criteria.
Pros & Cons

Pros

Prime Location: Situated in the desirable Magnolia Woods area of Sherman Oaks, offering proximity to the award-winning Kester Elementary School.
ADU Potential: Great potential for an Accessory Dwelling Unit (ADU), which can significantly enhance property value and provide rental income opportunities.
Private Outdoor Living: Features a serene backyard oasis with a sparkling pool and ample space for outdoor dining and lounging.
Corner Lot: Benefits from a corner lot position, which often provides enhanced privacy, more natural light, and greater curb appeal.
Motivated Seller & Price Adjustment: A recent significant price reduction and motivated seller indicate a strong negotiation opportunity for potential buyers.

Cons

Significant Overpricing Relative to Valuation: The current listing price is substantially higher than the automated property estimation (-31% estimation ratio), suggesting it may be overpriced for its current condition.
Requires Extensive Renovation: Described as an 'opportunity to create your dream home' and 'build equity,' implying the 1953-built property needs significant modernization and updates to meet contemporary standards.
Potential for Outdated Systems: As a home built in 1953, it is likely to have original or older systems (e.g., electrical, plumbing, HVAC) that may require costly upgrades or replacement in the near future.

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