5515 Shirley, Tarzana, California 91356, Tarzana, 91356 - 4 bed, 4 bath
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Tarzana, California 91356
This South of Blvd Development Asset is listed at $1,899,000, reflecting a premium over its $1,711,738 Fair Market Value due to significant land utility. A massive 18,049 sq. ft. gated lot and a 3,428 sq. ft. structure with 20-foot ceilings define the property’s potential. Holding a Condition Rating of 5, the site serves as a prime candidate for a luxury rebuild or total renovation. With a pool, spa, and proximity to Gaspar De Portola Middle School, this asset represents a strategic acquisition for Developers or Fix-and-Flip Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5515 Shirley Subject | $1,899,000* List Price | 4 | 4 | 3,428 | $505 | - |
A 5430 Corbin Avenue Sold | $1,755,000 | 3 | 2 | 2,776 | $632 | 0.3 mi |
B 5706 Corbin Avenue Sold | $1,955,000 | 5 | 4 | 3,441 | $568 | 0.3 mi |
C 5828 Calvin Sold | $1,700,000 | 4 | 3 | 3,207 | $530 | 0.4 mi |
D 5234 Tampa Avenue Sold | $1,797,000 | 5 | 4 | 2,902 | $619 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1947, this property shows significant age with no evidence of recent major renovations. The bathroom features highly dated 1970s/80s-style tile, vanities, and fixtures. The listing description explicitly suggests the home as a candidate for 'complete removal' or a total remodel, indicating that the primary value is in the land and the structure requires a full rehab to be competitive.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 18049, living area = 3428.
Situated in the highly coveted area south of Ventura Boulevard, this property offers a prestigious address with excellent walkability to local dining and amenities.
The sprawling 18,049 sq. ft. gated lot provides a rare and significant opportunity for a custom rebuild or a major luxury remodel in a high-value neighborhood.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
Built in 1947, the property is marketed as a potential teardown or major renovation project, indicating that substantial capital investment is likely required to meet modern standards.
While the area is desirable, several of the assigned local public schools have lower performance ratings, which may be a drawback for families prioritizing top-tier public education.
Presenting an incredible “South of Blvd” opportunity to obtain this nearly 3,500 sq. ft. home situated on a sprawling gated lot of over 18,000 sq. ft. Reside in just as it is, remodel to align with your style or completely remove and craft a new dream for yourself or the many that would desire to acquire your masterpiece. Inside this warm traditional floorplan, ceilings spanning over 20 feet welcome you in. Kitchen with cozy breakfast nook adjoins a spacious formal dining room. Large family room features a corner fireplace and French doors to the rear. Open & bright living room offers ample windows and fireplace with a stunning surround. An ensuite and powder bath complete the lower level. Along the stairwell & upper landing, desirable wall space exists to exhibit your prized pieces. Spacious primary suite affords a private balcony overlooking the vast yard and surrounding tranquil lush foliage. Desirable Jack and Jill bedrooms enhance the appeal. Outside, expansive rear grounds deliver a refreshing pool, soothing spa, sizeable grassy area and an untapped upper portion ready and waiting for your magic touch. Great schools and only a short stroll to the Blvd. Come explore all the possibilities!
No exterior & parking available.
Grades K-5 • 0.7 mi
Grades K-5 • 1.0 mi
Grades K-5 • 2.3 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.0 | 50% |
| Baths | 4.0 | 4.0 | 50% |
| Square foot | 3,428 | 2,844 | 66% |
| Lot Size | 18,049 | 17,462 | 58% |
| Price | $1.90M | $1.86M | 52% |
| Price per sq ft | $554 | $661 | 18% |
| Built year | 1947 | 1963 | 8% |
| HOA | $0 | $0 | 50% |
| Days on market | 36 | 149 | 3% |
May 1, 2026
$1,899,000
Initial Listing