Home Equity Investment in Encino, CA

This owner-occupied home with 4 beds and 2 baths is located close to Tarzana Square Shopping Center (0.7 mi), Reseda Park Lake (1.1 mi), and Los Encinos State Historic Park (1.7 mi).

The home sits on 0.16 acres with a total interior space of 1,325 square feet. The property was originally built in 1953 and was renovated in 2021, and includes air conditioning, a dishwasher, and in-unit laundries.

Local schools include Emelita Academy Charter (0.2 mi) with a 7/10 rating, Sage Academy (0.3 mi) with a 5/10 rating, and Gaspar De Portola Middle School (1.2 mi) with a 7/10 rating. Nearby colleges include Pierce College (3.3 mi), Cal State Northridge (4.6 mi), and Los Angeles Valley College (6.0 mi).

The largest employers in the area include Target (1.1 mi), Kaiser Permanente (3.8 mi), and the County of Los Angeles (4.9 mi).

The business plan would be classified as a long-term hold strategy because you are buying home equity at a discount to its fair market value.

5 Highlights about this deal:

1. The property is valued at $963,577 with a conservative Zillow Zestimate of $903,300 (Nov 2022).

2. Similar properties built in 1953 within 0.16 miles and 0.19 miles were sold for $1.14 million and $1.42 million respectively in January 2022. Both properties have smaller lot sizes.

3. The affluent area is home to several noted celebrities including Selena Gomez located within 2.2 miles of this home. A successful 1992 movie titled the Encino Man featured Ventura Boulevard which is 2.6 miles from the property.

4. Zillow notes that home prices in the Encino area appreciated by 7.3% in the last year.

5. In September 2022, Encino home prices were up 54.5% compared to last year, selling for a median price of $865K. On average, homes in Encino sell after 31 days on the market compared to 54 days last year.