5535 Hazeltine Avenue, Sherman Oaks, California 91401, Sherman Oaks, 91401 - 3 bed, 2 bath
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Sherman Oaks, California 91401
This property presents a High-Potential Investment Opportunity with a List Price of $1,299,000—positioned above the $1,208,038 Fair Market Value. While the property is priced at a premium, the 10,533 sq. ft. lot offers significant upside for redevelopment under SB9 regulations. With a Condition Rating of 6, the existing structure is a candidate for a full tear-down to maximize land utility. Located in the Chandler Elementary and Louis Armstrong Middle School District, this is a prime development asset ideal for Real Estate Developers or Custom Home Builders.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5535 Hazeltine Avenue Subject | $1,299,000* List Price | 3 | 2 | 1,537 | $786 | - |
A 5512 Buffalo Avenue Sold | $1,050,260 | 2 | 1 | 1,160 | $905 | 0.6 mi |
B 13424 Chandler Sold | $1,550,000 | 3 | 2 | 2,068 | $750 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1936 and explicitly marketed as a development opportunity sold primarily for land value, this property meets the tear-down criteria as it is over 50 years old with no mentioned renovations and is positioned for new construction.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 10533, living area = 1537.
The sprawling 10,533 sq. ft. lot provides a rare and versatile canvas for redevelopment, including multi-unit projects under SB9 or a large-scale custom estate.
Ideally situated near Ventura Boulevard's premier amenities and within the highly-rated Chandler Elementary and Louis Armstrong Middle School districts.
The existing 1936 structure is being sold primarily for its land value, implying it likely requires a total tear-down or a cost-prohibitive full-scale renovation.
With a list price exceeding $1.2M for land value, the project requires significant additional liquid capital for demolition, permitting, and construction costs.
Exceptional development opportunity in the heart of Sherman Oaks. Situated on a sprawling 10,533 sq. ft. lot, this property offers tremendous potential for redevelopment, expansion, or a custom residential project. With a large, usable parcel and favorable lot dimensions, the property presents an attractive opportunity for builders, developers, investors, and owner-users seeking to capitalize on California's SB9 regulations and evolving housing opportunities (Buyer to independently verify all development potential, zoning requirements, and permitted uses). The existing residence is being sold primarily for land value, making this an ideal canvas for a new construction project, multi-unit development, small-lot subdivision, or custom estate. Numerous nearby redevelopment projects and new construction homes have transformed the surrounding neighborhood, highlighting the area's continued growth and demand. Located within the highly rated Chandler Elementary and Louis Armstrong Middle School District along with convenient access to Ventura Boulevard's renowned restaurants, shopping, entertainment, parks, and major transportation corridors. Rare opportunity to acquire a sizable lot with exceptional upside potential in a premier Sherman Oaks location.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 4.0 |
| Baths | 2.0 | 3.0 |
| Square foot | 1,537 | 2,347 |
| Lot Size | 10,533 | 8,485 |
| Price | $1.30M | $1.81M |
| Price per sq ft | $845 | $827 |
| Built year | 1936 | 1956 |
| HOA | $0 | $0 |
| Days on market | 42 | 58 |
Jun 10, 2026
$1,299,000
Initial Listing
Jun 5, 2020
$875,000
Public Record
Feb 7, 1997
$205,000
Public Record