5421 Denny Avenue, 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 $1,200,000, reflecting a stable entry point aligned with its $1,183,214 Fair Market Value. Currently holding a Condition Rating of 6, the property is a prime tear-down valued for its CM-1VL Zoning and TOC Tier 1 eligibility, allowing for a potential 8-unit project plus multiple ADUs. Located in an Opportunity Zone near the NoHo Arts District and Metro Red Line, the site is optimized for transit-oriented redevelopment. This is a strategic acquisition for Real Estate Developers and Multi-Family Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5421 Denny Avenue Subject | $1,200,000* List Price | 2 | 1 | 776 | $1,516 | - |
A 5221 Satsuma Active | $1,325,000 List Price | 2 | 1 | 840 | $1,577 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
The property was built in 1947, making it over 75 years old. The listing description and property analysis explicitly state the existing structure is 'outdated' and 'likely requires demolition or extensive renovation,' with the value being solely in the land's development potential. There are no interior images to assess the kitchen, bathrooms, or other features, which further supports the conclusion that the current dwelling is not a selling point and is considered beyond repair for modern living standards without significant investment, aligning with the 'tear-down' criteria.
Zoned CM-1VL allowing R3 Residential Density and Mixed-use development, with explicit mention of potential for 8 units plus multiple ADUs, making it a prime development site.
Benefits from TOC Tier 1, Opportunity Zone, and State Enterprise Zone designations, offering significant development incentives and potential tax advantages.
Situated less than half a mile from the Red Line North Hollywood Station, ideal for high-density, transit-friendly development.
The $1.2 million list price is solely for the development potential of the land, making the existing 776 sqft, 1947-built structure largely irrelevant and likely a tear-down.
The current 1947-built, 776 sqft single-family home is small and likely requires demolition or extensive renovation, adding to development costs.
The property's development potential necessitates significant upfront research and verification by the buyer regarding zoning, permits, and allowable uses.
DEVELOPMENT OPPORTUNITY (TOC Tier 1) Eligible for 100% Affordable ED1 Projects. Existing Single Family home located on a CM-1VL zoned lot with 117 feet of alley access. CM Zone allows for R3 Residential Density and Mixed use development. Buyer to verify potential uses and allowable development opportunities. Potential for 8 units, plus 2 Detached ADU's + 1-4 Attached ADU's. (Opportunity Zone) (State Enterprise Zone) Newer 2016 8 unit apartment building next-door. Located within less than half a mile from the Red Line North Hollywood Station and half a block from the Chandler Blvd Bike Path. Walking distance to the NoHo Arts District. See private Remarks on status of the House.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 23% |
| Baths | 1.0 | 2.0 | 8% |
| Square foot | 776 | 1,584 | 3% |
| Lot Size | 5,581 | 6,638 | 10% |
| Price | $1.20M | $1.20M | 50% |
| Price per sq ft | $1.5K | $754 | 98% |
| Built year | 1947 | 1941 | 70% |
| HOA | $0 | $0 | 50% |
| Days on market | 1116 | 161 | 0% |
May 25, 2023
$1,200,000
Initial Listing