7662 Paso Robles Avenue, Van Nuys, California 91406, Van Nuys, 91406 - 2 bed, 1 bath
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Van Nuys, California 91406
This property presents a High-Potential Investment Opportunity with a List Price of $848,995—positioned well above the $735,066 Fair Market Value. While the current Condition Rating of 4 reflects an aging structure, the property offers significant Development Ready upside through approved city plans for a 1,639 sqft addition, ADU, and Junior ADU. This Value-Add Asset allows for a total expansion to 2,487 sqft on a 7,198 sqft lot. This is an ideal acquisition for Buy-and-Hold Investors or Contractors seeking to capitalize on multi-unit rental income potential.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 7662 Paso Robles Avenue Subject | $848,995* List Price | 2 | 1 | 848 | $867 | - |
A 7359 Louise Avenue Sold | $662,000 | 2 | 1 | 819 | $808 | 0.6 mi |
B 7507 Oak Park Avenue Sold | $710,000 | 2 | 1 | 862 | $824 | 0.3 mi |
C 17431 Valerio Active | $775,999 List Price | 2 | 1 | 805 | $964 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1948, the property is over 75 years old and appears dated, though functional. While the exterior shows some maintenance and updated windows, the small square footage and the listing's heavy emphasis on approved plans for expansion and ADUs indicate the current structure needs significant updates and modernization to meet contemporary standards.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7198, living area = 848.
Elementary School: Kester Avenue Elementary School (9/10).
The property comes with approved city plans for a 1,639 sqft addition plus an ADU and Junior ADU, significantly increasing the total living space to 2,487 sqft and saving the buyer months of permitting time.
With a list price of nearly $850,000 for the existing 848 sqft structure, the property carries a high entry cost that is heavily dependent on the buyer's ability to execute the proposed construction.
The property is zoned for several schools with lower performance ratings, including Van Nuys Middle School which is rated a 2/10, potentially limiting its appeal to education-focused families.
This inviting 2-bedroom, 1-bathroom home in Lake Balboa offers exceptional potential for growth and development. Situated on a spacious lot, the property comes with, approved city plans for additional 1,639 sqft. Addition to the main residence 1bed 1bath so it will be 3bed/2bath, as well as the addition of both an ADU and Junior ADU all in total of 2,487 sqft. These plans provide a tremendous opportunity for additional living space, rental income, or extended family living. With ample room to expand and a prime location, this property offers a solid foundation for creating a custom home while capitalizing on its future potential. Perfect for investors, first-time buyers, or those seeking a strategic investment in Van Nuys. Close to Lake Balboa/Anthony Beilenson Park. Very motivated seller, don’t miss this rare opportunity! Please check the plans under supplements.
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades K-5 • 0.8 mi
Grades K-5 • 0.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.0 |
| Baths | 1.0 | 2.0 |
| Square foot | 848 | 1,521 |
| Lot Size | 7,198 | 6,602 |
| Price | $849.0K | $922.2K |
| Price per sq ft | $1.0K | $593 |
| Built year | 1948 | 1953 |
| HOA | $0 | $0 |
| Days on market | 13 | 54 |
Jul 9, 2026
$848,995
Initial Listing
Oct 11, 2024
$835,000
Public Record
Jan 6, 2017
$450,000
Public Record
Nov 18, 2010
$282,500
Public Record