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5623 Cedros Avenue, Sherman Oaks, California 91411, Sherman Oaks, 91411 - 3 bed, 1 bath

5623 Cedros Avenue, Sherman Oaks, California 91411 home-pic-0
ACTIVE UNDER CONTRACT$1,000,000
5623 Cedros Avenue, Sherman Oaks, California 91411
3Beds
1Bath
1,148Sqft
7,023Lot

Price Vs. Estimate

The estimated value ($991,231.6) is $8,768.4 (0%) lower than the list price ($1,000,000). This property may be overpriced.

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 = 7023, living area = 1148.
Top Cons:
Limited Bathroom Count: With three bedrooms, the property currently offers only one bathroom, which may be a significant drawback for families or impact future resale value, potentially necessitating an addition.

Compared to the nearby listings

Price:$1.00M vs avg $1.13M ($-125,500)40%
Size:1,148 sqft vs avg 1,457 sqft17%
Price/sqft:$871 vs avg $74277%

More Insights

Built in 1948 (77 years old).
Condition: Built in 1948, this property benefits from significant recent infrastructure upgrades including newer electrical, upgraded plumbing, and a 10-year-old roof, which prevents it from being in 'Poor' condition. The polished wood floors and newer dual-pane windows are also positive features. However, the kitchen and the sole bathroom are significantly outdated in style, materials (e.g., tile countertops, basic cabinets), and appliances, requiring substantial renovation to meet modern standards. The property is livable but clearly positioned as an opportunity for extensive personalization and renovation, indicating it is not move-in ready without considerable cosmetic updates.
Year Built
1948
Close
-
List price
$1M
Original List price
$1M
Price/Sqft
$871
HOA
-
Days on market
-
Sold On
-
MLS number
SR25233763
Home ConditionFair
Features
Patio
ViewNeighborhood

About this home

Charming traditional home on an expansive lot in a prime Sherman Oaks location. This property offers exceptional potential for a variety of buyers. For those looking to make this their forever home, it’s a wonderful opportunity to create a personalized dream residence. Recent improvements include all newer electrical, a 200 amp breaker box & a new electric meter, an electric car charger, upgraded plumbing and a 10 year old roof. For investors or flippers, the home presents ample possibilities for expansion or renovation to maximize value. The detached double garage offers the potential for an Accessory Dwelling Unit (ADU), enhancing both space utilization and income opportunities. For builders, the generous lot invites endless possibilities—tear down and design a custom masterpiece. The existing home features a welcoming front porch that opens into a cozy living room with a fireplace, a dining area, three bedrooms, beautifully polished wood floors and newer dual paned windows. The outdoor space includes a spacious patio and a grassy yard, ideal for relaxing or entertaining. The laundry area accommodates a side-by-side washer and dryer. Located within the highly regarded Kester Elementary School district, this superb location is moments from parks, major freeways, and the vibrant array of shops and dining options that Sherman Oaks is known for. Don’t miss this exceptional opportunity!

Condition Rating
Fair
Built in 1948, this property benefits from significant recent infrastructure upgrades including newer electrical, upgraded plumbing, and a 10-year-old roof, which prevents it from being in 'Poor' condition. The polished wood floors and newer dual-pane windows are also positive features. However, the kitchen and the sole bathroom are significantly outdated in style, materials (e.g., tile countertops, basic cabinets), and appliances, requiring substantial renovation to meet modern standards. The property is livable but clearly positioned as an opportunity for extensive personalization and renovation, indicating it is not move-in ready without considerable cosmetic updates.
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 = 7023, living area = 1148.
Prime Sherman Oaks Location: Situated in a highly desirable Sherman Oaks neighborhood, within the esteemed Kester Elementary School district, and moments from parks, major freeways, and vibrant local amenities.
Significant Infrastructure Upgrades: Recent improvements include newer electrical (200 amp breaker, new meter), upgraded plumbing, a 10-year-old roof, and an electric car charger, reducing immediate capital expenditures.
Expansive Lot with Development Potential: The generous 7,023 sqft lot offers substantial possibilities for expansion, renovation, or a complete tear-down to design a custom masterpiece, appealing to various buyer types.
ADU Income/Space Opportunity: The detached double garage presents excellent potential for conversion into an Accessory Dwelling Unit (ADU), enhancing property value, living space, or rental income.
Charming Interior Features & Outdoor Space: The existing home features polished wood floors, newer dual-pane windows, a cozy fireplace, and a spacious patio with a grassy yard, offering immediate comfort and appeal.

Cons

Limited Bathroom Count: With three bedrooms, the property currently offers only one bathroom, which may be a significant drawback for families or impact future resale value, potentially necessitating an addition.
Age of Property & Modernization Needs: Built in 1948, despite some system upgrades, the overall design and certain aspects of the home may require further modernization or significant renovation to meet contemporary buyer expectations.
Requires Additional Investment/Personalization: The property is presented as an opportunity to 'create a personalized dream residence' or for 'flippers,' indicating it is not a fully turn-key home and will likely require substantial additional investment beyond the purchase price.

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