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5733 Colfax Avenue, North Hollywood, California 91601, North Hollywood, 91601 - 3 bed, 2 bath

5733 Colfax Avenue, North Hollywood, California 91601 home-pic-0
ACTIVE UNDER CONTRACT$889,000
5733 Colfax Avenue, North Hollywood, California 91601
3Beds
2Baths
1,436Sqft
7,205Lot

Price Vs. Estimate

The estimated value ($804,318.99) is $84,681.01 (9%) lower than the list price ($889,000). 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 = 7205, living area = 1436.
Top Cons:
Limited Bathroom Count: With only 1.5 bathrooms for a 3-bedroom residence, the property falls short of contemporary expectations for family living and may necessitate a costly bathroom addition or renovation.

Compared to the nearby listings

Price:$889.0K vs avg $1.12M ($-236,000)26%
Size:1,436 sqft vs avg 1,734 sqft31%
Price/sqft:$619 vs avg $72426%

More Insights

Built in 1952 (73 years old).
Condition: The property, built in 1952, requires substantial renovation, particularly in the kitchen and bathrooms. The kitchen features very dated cabinets, countertops, appliances, and linoleum flooring, indicating no major updates in over 50 years. The bathrooms also exhibit extremely outdated fixtures, tiles (e.g., pink tiled vanity), and lighting. While the property benefits from newer double-pane windows, an upgraded 200 AMP electrical panel, and a newer furnace, these system updates do not offset the significant rehabilitation needed for the interior finishes and key functional areas. The hardwood floors are noted as 'ready to be restored,' further indicating a need for considerable investment to modernize the home. The overall condition of the kitchen and bathrooms, combined with the age and the need for extensive cosmetic and functional updates, places it in the 'poor' category, requiring substantial repairs and rehabilitation to meet contemporary standards.
Year Built
1952
Close
-
List price
$889K
Original List price
$889K
Price/Sqft
$619
HOA
-
Days on market
-
Sold On
-
MLS number
25625427
Home ConditionPoor
Features
Patio
View-

About this home

Nestled in one of North Hollywood's most desirable neighborhoods, this 1952 Traditional home exudes timeless character and exciting potential. Set on a generous 7,200+ sq ft lot, the 3-bedroom, 1.5-bath residence offers 1,436 sq ft of interior space filled with warm, original details. Step inside to find beautiful hardwood floors ready to be restored, classic woodwork throughout, and an oversized living room anchored by a wood-clad fireplace framed with original built-ins. The light-filled, dine-in kitchen captures the home's nostalgic appeal, while a covered patio off the living room creates effortless indoor-outdoor living, perfect for al fresco dining or a seamless future expansion. A detached two-car garage with convenient alley access offers a prime ADU opportunity or space for creative reimagining, enhancing the value of this already versatile property. Ideal for investors or end-users looking to bring their vision to life, this Laurel Grove gem is brimming with charm and ready for its next chapter. Home has newer double pane windows. Upgraded 200 AMP electrical and newer furnace.

Condition Rating
Poor
The property, built in 1952, requires substantial renovation, particularly in the kitchen and bathrooms. The kitchen features very dated cabinets, countertops, appliances, and linoleum flooring, indicating no major updates in over 50 years. The bathrooms also exhibit extremely outdated fixtures, tiles (e.g., pink tiled vanity), and lighting. While the property benefits from newer double-pane windows, an upgraded 200 AMP electrical panel, and a newer furnace, these system updates do not offset the significant rehabilitation needed for the interior finishes and key functional areas. The hardwood floors are noted as 'ready to be restored,' further indicating a need for considerable investment to modernize the home. The overall condition of the kitchen and bathrooms, combined with the age and the need for extensive cosmetic and functional updates, places it in the 'poor' category, requiring substantial repairs and rehabilitation to meet contemporary standards.
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 = 7205, living area = 1436.
Prime Location: Situated in one of North Hollywood's most desirable neighborhoods (Laurel Grove), ensuring strong demand and potential for appreciation.
ADU Development Potential: The detached two-car garage with alley access presents an excellent opportunity for an Accessory Dwelling Unit (ADU), significantly enhancing property value and rental income potential.
Generous Lot Size: A spacious 7,200+ sq ft lot offers ample room for expansion, extensive landscaping, or creating desirable outdoor living spaces.
Key System Upgrades: Recent improvements include newer double-pane windows, an upgraded 200 AMP electrical panel, and a newer furnace, reducing immediate maintenance concerns for critical components.
Timeless Character & Value-Add Potential: A 1952 Traditional home with original details (hardwood floors, built-ins) provides a charming foundation for restoration and modernization, appealing to buyers seeking to customize and add value.

Cons

Limited Bathroom Count: With only 1.5 bathrooms for a 3-bedroom residence, the property falls short of contemporary expectations for family living and may necessitate a costly bathroom addition or renovation.
Required Renovation/Restoration: The description indicates a need for restoration (e.g., hardwood floors) and vision, suggesting the property is not fully move-in ready and will require significant investment in time and capital for modernization.
Potential for Age-Related Issues: Despite some upgrades, the 1952 construction year implies potential for age-related issues in areas not explicitly mentioned as upgraded, such as plumbing or roofing, which could lead to unexpected costs.

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