
North Hollywood, California 91601
This property represents a High-Potential Investment Opportunity, listed at $1,059,000—positioned slightly above the $1,023,305 Fair Market Value. Featuring a Condition Rating of 2, this turnkey home includes a remodeled kitchen, solar panels, and copper plumbing. The LARD2 Zoning on a corner lot provides significant upside for duplex conversion and ADU development. With a proven rental history and a $20,000 Ladder Up grant eligibility, this asset is a strategic acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a versatile, income-generating property in North Hollywood.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5902 Lemp Avenue Subject | $998,000* List Price | 3 | 2 | 1,072 | $942 | - |
A 11519 Albers Street Sold | $1,048,500 | 2 | 2 | 1,020 | $1,028 | 0.5 mi |
B 11118 Califa Street Sold | $920,000 | 3 | 2 | 1,216 | $757 | 0.6 mi |
C 11520 Albers Sold | $1,113,000 | 2 | 2 | 1,217 | $915 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
The property features a recently remodeled kitchen and primary en-suite bathroom with modern finishes. Significant system upgrades include copper plumbing, a tankless water heater, solar panels, and dual-pane windows, meeting the criteria for a high-quality renovation in mint, turn-key condition.
The LARD2 zoning on a corner lot presents a rare opportunity for duplex conversion and the addition of multiple ADUs, offering significant value-add potential for investors.
The home is equipped with high-value upgrades including solar panels, copper plumbing, a tankless water heater, and dual-pane windows, ensuring energy efficiency and reduced maintenance costs.
Eligibility for a $20,000 'Ladder Up' grant for down payment or closing costs, combined with a proven rental history, makes this a highly accessible and lucrative investment.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 4.
At just 1,072 square feet for a three-bedroom layout, the individual room sizes and overall living space may feel constrained for larger families.
Despite modern updates, the 1938 construction may feature the smaller closet spaces and architectural quirks typical of its era compared to contemporary builds.
Reduced! Located on a corner RD2 lot allowing lots of natural light, this updated home features three bedrooms, two bathrooms of well-appointed living space, with design in mind. The recently remodeled cooks kitchen features an open floor concept connecting the kitchen and living room, offering the perfect space to prep, cook and entertain. Past the kitchen is the primary bedroom featuring a remodeled en-suite bathroom with an abundance of space. Two additional bedrooms as well as the hallway bathroom are found towards the front of the home. The entrance to the backyard retreat is found off the kitchen and here you find the outdoor entertaining area featuring an oversized covered deck, hot tub, a new privacy fence, several garden beds and additional space perfect for entertaining. Other highlights of the home include an oversized two car garage, copper plumbing, a tankless water heater, solar panels, dual pane windows, additional parking and a double gate leading to the backyard. A great retreat from the city but close to all Los Angeles has to offer. 5902 Lemp is zoned LARD2, which presents the unique opportunity to be converted to a duplex AND possibly build multiple accessory ADU (buyer to verify). It's location is conveniently central to the NoHo Arts District, the NoHo West development, several freeway access points, major studios, schools, and the Burbank airport. House available fully furnished and has a proven history as a sought after turn key rental. Property is eligible for City National Bank "Ladder Up" program with a grant up to $20,000 that may be used for down payment, closing costs or buying down the rate. Contact the Listing agent for more details on this valuable program!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,072 | 1,584 | 13% |
| Lot Size | 5,255 | 6,638 | 8% |
| Price | $998.0K | $1.18M | 33% |
| Price per sq ft | $931 | $754 | 83% |
| Built year | 1938 | 1941 | 38% |
| HOA | $0 | $0 | 50% |
| Days on market | 45 | 160 | 8% |
Jun 3, 2026
$998,000
$1,018,000
-2% Price Drop
Initial Listing
May 28, 2026
$1,018,000
$1,059,000
-4% Price Drop
Initial Listing
Apr 30, 2026
$1,059,000
Initial Listing
Apr 30, 2024
$987,000
Public Record
Dec 8, 2020
$726,000
Public Record
Jan 28, 2011
$282,002
Public Record