7663 Shadyglade Avenue, North Hollywood, California 91605, North Hollywood, 91605 - bed, bath
ACTIVE$1,290,000
7663 Shadyglade Avenue, North Hollywood, California 91605
0Bed
0Bath
2,380Sqft
7,018Lot
Price Vs. Estimate
The estimated value ($1,228,838.265) is $61,161.735 (4%) lower than the list price ($1,290,000). This property may be overpriced.
Key pros and cons
Top Pros:
High Rental Income Potential: The property boasts over $100,000 in annual rental income, making it a highly attractive investment for generating substantial cash flow.
Top Cons:
Multiple Price Reductions: The property has undergone several price reductions from its original list price of $1.395M to $1.29M, indicating potential market resistance or initial overpricing, and suggesting a motivated seller.
Compared to the nearby listings
Price:$1.29M vs avg $865.0K (+$425,000)89%
Size:2,380 sqft vs avg 1,580 sqft89%
Price/sqft:$542 vs avg $57538%
More Insights
Built in 1951 (74 years old).
Condition: This property consists of multiple units. The back house was built in 2018, making it only 6 years old and virtually new. The front house has been 'recently renovated' with 'newer plumbing, electrical, and windows,' and both units feature modern kitchens with quartz countertops, new cabinets, and stainless steel appliances, as well as updated bathrooms and flooring. The overall condition, as supported by the images, reflects extensive recent renovations and new construction, meeting current quality standards with no deferred maintenance.
Year Built
1951
Close
-
List price
$1.29M
Original List price
$1.4M
Price/Sqft
$542
HOA
-
Days on market
-
Sold On
-
MLS number
BB25192631
Home ConditionExcellent
Features
Patio
View-
About this home
REDUCED FOR QUICK SALE !!! MOTIVATED SELLER !!! Great opportunity for Investor, Owner-User or Family. Over $100,000 in Annual Rental Income !!! Located in the desired area of North Hollywood, close proximity to shops, restaurants and entertainment. Front house has been recently renovated and is 3BR/1.5BA, 1,144SF home, featuring quartz countertops, newer plumbing, electrical, windows. Outside patio for entertainment. Back house was built in 2018 and is 3BR/2BA, 1,236SF home and is attached to an additional 1BR/1BA unit (converted garage). Kitchens feature quartz countertops, lots of cabinets and a laundry area in each home. Hurry! Won't last!
Condition Rating
Excellent
This property consists of multiple units. The back house was built in 2018, making it only 6 years old and virtually new. The front house has been 'recently renovated' with 'newer plumbing, electrical, and windows,' and both units feature modern kitchens with quartz countertops, new cabinets, and stainless steel appliances, as well as updated bathrooms and flooring. The overall condition, as supported by the images, reflects extensive recent renovations and new construction, meeting current quality standards with no deferred maintenance.
Pros & Cons
Pros
High Rental Income Potential: The property boasts over $100,000 in annual rental income, making it a highly attractive investment for generating substantial cash flow.
Multi-Unit Configuration: Comprising a recently renovated front house (3BR/1.5BA), a newer back house built in 2018 (3BR/2BA), and an attached 1BR/1BA converted garage unit, this property offers diverse living arrangements and multiple income streams.
Recent Renovations & Modern Amenities: The front house features recent renovations including newer plumbing, electrical, and windows, while all kitchens are updated with quartz countertops and ample cabinetry, reducing immediate maintenance needs.
Desirable North Hollywood Location: Situated in a sought-after area of North Hollywood, the property offers convenient access to local shops, restaurants, and entertainment, enhancing its appeal to tenants and owner-users.
Versatile Investment Opportunity: Marketed as a great opportunity for investors, owner-users, or families, the property's multi-unit setup and income potential cater to a broad range of buyers.
Cons
Multiple Price Reductions: The property has undergone several price reductions from its original list price of $1.395M to $1.29M, indicating potential market resistance or initial overpricing, and suggesting a motivated seller.
Overpriced Relative to Market Estimation: The current listing price is 5% higher than the estimated property value, which could deter potential buyers or lead to prolonged negotiation periods.
Potential Unpermitted Conversion: The description mentions an 'additional 1BR/1BA unit (converted garage),' which often raises concerns about permitting and compliance, potentially requiring future legalization or presenting unforeseen issues.