501 S Lake Street, Burbank, CA 91502 (MLS # SR25081751)
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Opportunity knocks with this rare find in one of Burbanks’s most desirable and centrally located neighborhoods. This single-story fixer sits on an expansive corner lot, offering incredible potential for customization, and long-term value. Whether you're an investor, developer, or savvy homebuyer looking to create your dream home, this property presents an exciting canvas for transformation. Situated on a generous parcel with alley access and ingress/egress from three sides, this home also features a detached garage, making it a prime candidate for an ADU and/or Junior ADU addition (City of Burbank zoning shows R3 -- buyer to verify). It also offers a roomy basement for convenient storage. The layout and lot orientation provide maximum flexibility for improvement and expansion while maintaining privacy and curb appeal. Located just minutes from downtown Burbank, Magnolia Park, Warner Bros. Studios, and Disney, this property offers unparalleled access to major entertainment hubs, shopping, restaurants, and top-rated Burbank Unified schools. Commuters will also appreciate the proximity to the 5 Freeway and the Burbank Airport. This is your chance to invest in a neighborhood that continues to thrive—whether you renovate the existing structure, build new, or add income-producing elements, the possibilities are vast. Don't miss out on this golden opportunity to unlock the full potential of this prime Burbank property!
| DAYS ON MARKET | 1 | LAST UPDATED | 5/13/2025 |
|---|---|---|---|
| YEAR BUILT | 1945 | COMMUNITY | Burbank |
| GARAGE SPACES | 2.0 | COUNTY | Los Angeles |
| STATUS | Active | PROPERTY TYPE(S) | Single Family |
| School District | Burbank Unified |
|---|---|
| Elementary School | McKinley |
| High School | Burroughs |
| ADDITIONAL DETAILS | |
| AIR | Wall/Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Gas Oven, Gas Range |
| AREA | Burbank |
| BASEMENT | Unfinished, Yes |
| CONSTRUCTION | Stucco |
| EXTERIOR | Awning(s) |
| FIREPLACE | Yes |
| GARAGE | Driveway, Garage, Yes |
| HEAT | Floor Furnace |
| HOA DUES | 0 |
| INTERIOR | Galley Kitchen, Separate/Formal Dining Room |
| LOT | 6840 sq ft |
| LOT DESCRIPTION | Back Yard, Corner Lot, Front Yard, Lawn, Street Level |
| PARKING | Driveway,Garage |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 1 |
| STYLE | Bungalow |
| UTILITIES | Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected |
| VIEW DESCRIPTION | None |
| WATER | Public |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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