5417 Encino Avenue, Encino, California 91316, Encino, 91316 - 5 bed, 3 bath
ACTIVE$2,499,000$2,971/sqft
5417 Encino Avenue, Encino, California 91316
5Beds
3Baths
2,971Sqft
29,220Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 29220, living area = 2971.
Top Cons:
Age of Existing Structure: The existing home was built in 1955, suggesting it likely requires significant renovation or demolition, adding substantial cost and effort for the buyer.
Compared to the nearby listings
Price:$2.50M vs avg $1.38M (+$1,124,000)80%
Size:2,971 sqft vs avg 1,838 sqft73%
Price/sqft:$841 vs avg $76577%
More Insights
Built in 1955 (71 years old).
Condition: The property, built in 1955, is 69 years old. The listing description explicitly emphasizes the 'expansive flag lot' and the opportunity to 'build your custom dream estate' or 'start new with a blank canvas,' strongly indicating that the value is in the land for redevelopment. The property analysis also notes the existing home 'likely requires significant renovation or demolition.' The images reveal a very dated exterior with old siding, windows, and light fixtures, an aged roof, and a neglected pool. Without any interior photos or mention of recent updates, and given the strong focus on the land's potential, the existing structure appears to be at the end of its useful life, making it a tear-down where the land is the primary asset.
Year Built
1955
Close
-
List price
$2.5M
Original List price
$2.85M
Price/Sqft
$841
HOA
-
Days on market
-
Sold On
-
MLS number
25575975
Home ConditionTear down
Features
Pool
Patio
View-
About this home
Unlock the potential of this expansive 29,220 sq.ft. flag lot, nestled in the heart of the coveted Amestoy Estates. Whether you're a homeowner with a vision to build your custom dream estate or a developer seeking a premier site for a new luxury residence, this is an unparalleled opportunity. Whether you remodel the existing structure, or start new with a blank canvas for creating a truly spectacular home in one of the most desirable neighborhoods in Encino. Surrounded by multi-million dollar estates and tree-lined streets, this oversized lot provides endless design possibilities. From sprawling single-story modern compounds to grand two-story traditional homes with resort-style backyards. Opportunities of this size and location in Amestoy Estates are exceedingly rare. Bring your architect and builder, this is the one you've been waiting for.
M
Marc Michiel
Listing Agent
Condition Rating
Tear down
The property, built in 1955, is 69 years old. The listing description explicitly emphasizes the 'expansive flag lot' and the opportunity to 'build your custom dream estate' or 'start new with a blank canvas,' strongly indicating that the value is in the land for redevelopment. The property analysis also notes the existing home 'likely requires significant renovation or demolition.' The images reveal a very dated exterior with old siding, windows, and light fixtures, an aged roof, and a neglected pool. Without any interior photos or mention of recent updates, and given the strong focus on the land's potential, the existing structure appears to be at the end of its useful life, making it a tear-down where the land is the primary asset.
Pros & Cons
Pros
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 29220, living area = 2971.
Prime Location: Nestled in the coveted Amestoy Estates, surrounded by multi-million dollar estates and tree-lined streets, offering a highly desirable and prestigious address in Encino.
Expansive Lot Size: An oversized 29,220 sq.ft. flag lot provides a rare and generous canvas for extensive design possibilities, including sprawling compounds and resort-style backyards.
Significant Development Potential: Presents an unparalleled opportunity for a homeowner to build a custom dream estate or for a developer to create a new luxury residence from the ground up.
Rarity of Opportunity: Opportunities of this size and location in Amestoy Estates are exceedingly rare, making it a unique and exclusive offering in the market.
Buyer Flexibility: Offers buyers the flexibility to either remodel the existing 2,971 sq.ft. structure or utilize the expansive lot as a blank canvas for new construction.
Cons
Age of Existing Structure: The existing home was built in 1955, suggesting it likely requires significant renovation or demolition, adding substantial cost and effort for the buyer.
Flag Lot Configuration: As a flag lot, access and privacy might be perceived differently compared to traditional street-fronting lots, potentially requiring specific design considerations.
Price Reduction History: Multiple price reductions from the original list price of $2.85M to the current $2.499M may indicate initial overpricing or market resistance.