Considering Tarzana off-market Fixer for $620K. Is that crazy?
We've been presented with an off-market Fixer in Tarzana for $620K. 1362 sq ft 3 + 2. 7000 sq ft lot. Detached 2-car garage. No pool. Built in the '50's (like most of the Valley!) Haven't been in it yet, but it looks like a solid house. Needs updating... kitchen, bathrooms, flooring, landscape. Could probably do it all for $50K. It's north of the freeway, closer to Reseda. Not on a major street.
A similar renovated home down the street just sold for $810K! But, was that an anomaly? I pretty crappy house close by sold for $450K.
So, what do others feel the market is doing in Tarzana? Are homes this size, north of the 101 getting into the mid to high 700's pretty easily?