
Lake Balboa, California 91406
This property presents a High-Potential Investment Opportunity with a List Price of $1,175,000—positioned well above the $1,075,510 Fair Market Value by 9%. Featuring a Condition Rating of 5, the residence requires a full rehab to modernize its vintage 1950s systems. The 0.37-acre lot offers significant Development Potential for ADU/JADU expansion. Located near the highly-rated Stagg Street Elementary School, this asset is ideal for Buy-and-Hold Investors or Contractors seeking to leverage land value in an established neighborhood.
Property is extensive renovation needed.
Built in 1950 with original 'vintage details' and no mentioned updates to kitchen, baths, or systems. The listing's heavy emphasis on land value and development potential, combined with the age of the structure, indicates it needs a full rehab to meet modern standards.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 15934, living area = 2012.
Elementary School: Kester Avenue Elementary School (9/10).
At 0.37 acres (nearly 16,000 sq. ft.), this property offers a rare and exceptionally large lot for the Lake Balboa area, providing significant privacy and substantial outdoor space.
With its 1950s construction and 'original character,' the residence likely requires significant modernization and updates to its systems and finishes to meet contemporary standards.
A conflict exists between the marketing description (3-bed/3-bath) and the official data (2-bed/2-bath), which could lead to challenges with appraisals, permitting, or buyer expectations.
Check out this existing home on an incredible 15,929-square-foot lot, allowing a Buyer endless possibilities. With so much land, there is room to dream, develop, remodel, fix and flip, expand, etc. The possibilities are endless! This charming Lake Balboa 3-bedroom, 3-bathroom residence offers approximately 2,012 square feet of living space and an incredible amount of room to make the property your own. The expansive lot is what truly sets this property apart. Whether you envision updating the existing home to create your ideal living space, adding modern amenities, creating a beautiful backyard retreat, developing multiple units, or exploring the potential for an ADU or JADU, this property offers flexibility rarely found in Lake Balboa. This is more than just a home—it’s an opportunity to create something truly special on an extraordinary piece of land in an established and desirable Lake Balboa neighborhood. Comfortable and charming today, with the potential to become something even more special tomorrow! If you are interested in learning more, please reach out today!
No exterior & parking available.
Grades K-5 • 0.1 mi
Grades K-5 • 0.5 mi
Grades K-5 • 0.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.5 |
| Baths | 3.0 | 2.0 |
| Square foot | 2,012 | 1,696.1 |
| Lot Size | 15,934 | 6,687.7 |
| Price | $1.18M | $904.1K |
| Price per sq ft | $584 | $599 |
| Built year | 1950 | 1952 |
| HOA | $0 | $223 |
| Days on market | 12 | 50 |
Aug 28, 2026
$1,175,000
Initial Listing