7005 Orion Avenue, Van Nuys, California 91406, Van Nuys, 91406 - 5 bed, 3 bath
ACTIVE$1,275,000
7005 Orion Avenue, Van Nuys, California 91406
5Beds
3Baths
2,929Sqft
6,058Lot
Price Vs. Estimate
The estimated value ($1,275,000) is $0 (0%) lower than the list price ($1,275,000). This property may be overpriced.
Key pros and cons
Top Pros:
Income Potential (ADU): Features a brand new, detached 2-bedroom, 1-bath ADU, offering significant income potential for investors or mortgage offset for homeowners.
Top Cons:
Age of Main Structure: Built in 1954, the main home is an older property, which despite updates, may present potential for age-related maintenance or system replacements in the future.
Compared to the nearby listings
Price:$1.27M vs avg $900.0K (+$375,000)96%
Size:2,929 sqft vs avg 1,496 sqft98%
Price/sqft:$435 vs avg $6046%
More Insights
Built in 1954 (71 years old).
Condition: The main house, built in 1954, has undergone significant renovations, including updated kitchen and bathrooms, new paint, and wood flooring throughout. The kitchen features modern white shaker cabinets, stainless steel appliances, and granite countertops, while the bathroom boasts subway tile and a contemporary vanity. These updates appear to be within the 5-15 year timeframe, making the main home move-in ready. Crucially, the property also includes a brand new detached ADU, which significantly enhances its overall condition and appeal, aligning perfectly with the 'Good' rating criteria of being move-in ready with extensive renovations.
Year Built
1954
Close
-
List price
$1.27M
Original List price
$1.3M
Price/Sqft
$435
HOA
-
Days on market
-
Sold On
-
MLS number
SR25155929
Home ConditionGood
Features
ViewNeighborhood
About this home
Located in highly desirable Van Nuys neighborhood this beautiful 3 bedrooms 2 bath home with a brand new detached 2 bed 1 bath ADU is ideal for investors or traditional home buyers looking to getting addition income from the ADU to help out with the mortgage. Main home features over 2100 sqft of living space, with large living room with fireplace, formal dining room, updated kitchen and baths, wood flooring and new paint throughout. The brand new ADU features a open floor plan, laminate flooring throughout, dual pane windows and so much more. Beautiful corner property just minutes to the 405 and 101 freeways.
Condition Rating
Good
The main house, built in 1954, has undergone significant renovations, including updated kitchen and bathrooms, new paint, and wood flooring throughout. The kitchen features modern white shaker cabinets, stainless steel appliances, and granite countertops, while the bathroom boasts subway tile and a contemporary vanity. These updates appear to be within the 5-15 year timeframe, making the main home move-in ready. Crucially, the property also includes a brand new detached ADU, which significantly enhances its overall condition and appeal, aligning perfectly with the 'Good' rating criteria of being move-in ready with extensive renovations.
Pros & Cons
Pros
Income Potential (ADU): Features a brand new, detached 2-bedroom, 1-bath ADU, offering significant income potential for investors or mortgage offset for homeowners.
Extensive Living Space: Boasts a combined 2929 sqft of living space across the main home and ADU, providing ample room for a large family or multi-generational living.
Recent Updates & Modern Finishes: The main home includes updated kitchen and baths, wood flooring, and new paint, while the ADU features new laminate flooring and dual-pane windows, indicating move-in readiness.
Prime Location & Freeway Access: Situated in a highly desirable Van Nuys neighborhood with excellent proximity to the 405 and 101 freeways, enhancing commute times and accessibility.
Corner Lot Advantage: As a corner property, it typically offers increased privacy, more natural light, and potentially greater curb appeal.
Cons
Age of Main Structure: Built in 1954, the main home is an older property, which despite updates, may present potential for age-related maintenance or system replacements in the future.
Standard Neighborhood View: The property offers a 'Neighborhood' view, which, while pleasant, lacks the premium appeal of panoramic city, ocean, or mountain views that could command a higher premium.
Recent Price Reduction: A recent price reduction from the original list price could suggest initial overpricing or a need to attract more buyer interest, potentially impacting perceived value.