6743 Irvine Avenue, North Hollywood, California 91606, North Hollywood, 91606 - bed, bath
ACTIVE$595,000
6743 Irvine Avenue, North Hollywood, California 91606
0Bed
0Bath
Sqft
3,814Lot
Year Built
1925
Close
-
List price
$595K
Original List price
$795K
Price/Sqft
$0
HOA
-
Days on market
-
Sold On
-
MLS number
24471259
Home ConditionTear down
Features
View-
About this home
We found 3 Cons,6 Pros. Rank: price - $595.0K(2th), sqft - 0(2th), beds - undefined(4th), baths - undefined(4th).
ATTENTION DEVELOPERS, INVESTORS AND SAVVY END USERS! Excellent development opportunity in North Hollywood. This is a land-valued sale on a 3,814 square foot lot, zoned LAC2. Seller has plans for a duplex consisting of a three bed/two bath unit and a two bed/one bath unit, as well as a two bed/one bath ADU. Permits have not yet been obtained. The property has strong investment potential in a great location.
Nearby schools
5/10
Victory Boulevard Elementary School
Public,•K-5•0.7mi
5/10
Fair Avenue Elementary School
Public,•K-5•0.7mi
5/10
Bellingham Elementary School
Public,•K-5•0.7mi
4/10
Camellia Avenue Elementary School
Public,•K-5•0.8mi
3/10
Maurice Sendak Elementary School
Public,•K-5•1.1mi
2/10
Julie Korenstein Elementary School
Public,•K-5 & ungraded•1.2mi
4/10
Oxnard Street Elementary School
Public,•K-5•1.4mi
6/10
John B. Monlux Elementary School
Public,•K-5•1.6mi
5/10
Strathern Street Elementary School
Public,•K-5•1.7mi
7/10
Burbank Boulevard Elementary School
Public,•K-5•1.7mi
6/10
Lankershim Elementary School
Public,•K-5•2.0mi
8/10
Providencia Elementary School
Public,•K-5•2.4mi
8/10
Bret Harte Elementary School
Public,•K-5•2.4mi
7/10
Toluca Lake Elementary School
Public,•K-5•2.8mi
9/10
Theodore Roosevelt Elementary School
Public,•K-5•3.1mi
7/10
Rio Vista Elementary School
Public,•K-5•3.4mi
4/10
Roy Romer Middle School
Public,•6-8•0.7mi
6/10
Luther Burbank Middle School
Public,•6-8•2.1mi
6/10
Walter Reed Middle School
Public,•6-8•2.8mi
5/10
David Starr Jordan Middle School
Public,•6-8•4.4mi
6/10
Arroyo Seco Museum Science
Public,•K-8•12.2mi
5/10
Sun Valley Engineering And Technology Magnet
Public,•6-12•0.8mi
3/10
East Valley Senior High School
Public,•9-12•1.8mi
8/10
North Hollywood Senior High School
Public,•9-12•1.9mi
6/10
Ulysses S. Grant Senior High School
Public,•9-12•2.1mi
6/10
John H. Francis Polytechnic
Public,•9-12•2.2mi
6/10
Burbank Unified Independent Learning Academy (Buila)
Public,•7-12•2.2mi
7/10
Burroughs High School
Public,•9-12•3.7mi
8/10
Burbank High School
Public,•9-12•4.0mi
Condition Rating
Tear down
The property, built in 1925, is explicitly marketed as a 'land-valued sale' for development, and the provided images show an empty lot with debris, indicating the original structure has either been demolished or is slated for demolition. There is no existing habitable structure, kitchen, or bathroom to assess, aligning perfectly with the 'tear-down' criteria where value is based solely on the land.
Pros & Cons
Pros
Great Schools: Elementary School: Theodore Roosevelt Elementary School (9/10).
Prime Development Opportunity: The property is explicitly marketed as an 'Excellent development opportunity' and a 'land-valued sale,' indicating its primary value lies in its potential for redevelopment rather than the existing structure.
Favorable LAC2 Zoning: Zoned LAC2, this property offers significant flexibility for developers, allowing for multi-unit residential construction (duplex and ADU as planned) and various commercial uses, which is highly desirable in Los Angeles.
Pre-existing Development Plans: The seller has plans for a duplex (3 bed/2 bath and 2 bed/1 bath units) and a 2 bed/1 bath ADU, providing a valuable head start for a developer by reducing initial planning and design time.
Desirable North Hollywood Location: Situated in North Hollywood, a vibrant and growing area known for its arts district, entertainment industry proximity, and accessibility, enhancing the future rental or resale value of developed units.
Significant Price Reduction: The list price has been reduced from $795,000 to $595,000, presenting a potentially more attractive entry point for investors and developers.
Cons
Permits Not Yet Secured: While plans exist, permits have not yet been obtained, which means the buyer will incur additional time, cost, and risk in the permitting process before construction can begin.
Implied Demolition Costs: Being a 'land-valued sale' for a property built in 1925 strongly suggests the existing structure is a tear-down, adding demolition costs to the overall development budget.
Relatively Small Lot Size: The 3,814 square foot lot, while suitable for the proposed duplex and ADU, is relatively small, which could limit future expansion or alternative development options compared to larger parcels.