Opportunity knocks with this rare find in one of Burbanks’s most desirable and centrally located neighborhoods. This single-story charmer 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!
Sold for $870,000
Listing Provided by: Equity Union
Bought with: Coldwell Banker Hallmark
$870,000
501 S Lake St, Burbank, CA 91502
2beds
1,146sqft
Single Family Residence
Built in 1945
6,840 Square Feet Lot
$866,000 Zestimate®
$759/sqft
$4,155 Estimated rent
Home value
$866,000
$779,000 - $961,000
$4,155/mo
Zestimate® history
Owner options
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$4,155/mo
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$4,155/mo
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$5,434/mo
Est. payment
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$5,434/mo
Est. payment
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Zillow last checked:
Listing updated:
Listing Provided by:
Christina Pambakian DRE #01466412 818-606-9560,
Equity Union
Bought with:
Levon Yengibaryan, DRE #01887345
Coldwell Banker Hallmark
Source: CRMLS,MLS#: SR25081751
Originating MLS: California Regional MLS
Originating MLS: California Regional MLSFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 1
- Full bathrooms: 1
- Main level bathrooms: 1
- Main level bedrooms: 2
Bathroom
- Features: Bathtub, Separate Shower, Tile Counters
Kitchen
- Features: Galley Kitchen
Heating
- Floor Furnace
Cooling
- Wall/Window Unit(s)
Appliances
- Included: Gas Oven, Gas Range
- Laundry: In Garage
Features
- Separate/Formal Dining Room, Galley Kitchen
- Flooring: Laminate, Tile, Wood
- Windows: Wood Frames
- Basement: Unfinished
- Has fireplace: Yes
- Fireplace features: Family Room
- Common walls with other units/homes: No Common Walls
Interior area
- Total interior livable area: 1,146 sqft
Property
Parking
- Total spaces: 2
- Parking features: Driveway, Garage
- Garage spaces: 2
Accessibility
- Accessibility features: No Stairs
Features
- Levels: One
- Stories: 1
- Entry location: 1
- Patio & porch: Rear Porch
- Exterior features: Awning(s)
- Pool features: None
- Spa features: None
- Fencing: None
- Has view: Yes
- View description: None
Lot
- Size: 6,840 sqft
- Features: Back Yard, Corner Lot, Front Yard, Lawn, Street Level
Details
- Parcel number: 2451021001
- Special conditions: Probate Listing
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Bungalow
- Property subtype: Single Family Residence
Materials
- Stucco
- Foundation: Raised
Condition
- Fixer
- New construction: No
- Year built: 1945
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Community & neighborhood
Community
- Community features: Curbs, Sidewalks
Location
- Region: Burbank
Other
Other facts
- Listing terms: Cash,Cash to New Loan,Submit
- Road surface type: Paved
Price history
| Date | Event | Price |
|---|---|---|
| 5/14/2026 | Listing removed | $4,900$4/sqft |
Source: Zillow Rentals Report a problem | ||
| 5/6/2026 | Listed for rent | $4,900$4/sqft |
Source: Zillow Rentals Report a problem | ||
| 6/26/2025 | Sold | $870,000+1.4%$759/sqft |
Source:  CRMLS #SR25081751 Report a problem | ||
| 6/17/2025 | Pending sale | $858,000$749/sqft |
Source: CRMLS #SR25081751 Report a problem | ||
| 5/24/2025 | Contingent | $858,000$749/sqft |
Source: CRMLS #SR25081751 Report a problem | ||
| 5/13/2025 | Listed for sale | $858,000$749/sqft |
Source: CRMLS #SR25081751 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $1,039 +0.4% | $81,328 +2% |
| 2024 | $1,035 +1% | $79,734 +2% |
| 2023 | $1,025 +4.4% | $78,172 +2% |
| 2022 | $981 +1.3% | $76,640 +2% |
| 2021 | $969 +1.3% | $75,139 +1% |
| 2020 | $957 | $74,369 +2% |
| 2019 | $957 +13.5% | $72,912 +2% |
| 2018 | $843 | $71,483 +2% |
| 2017 | $843 +2.4% | $70,083 +2% |
| 2016 | $823 +4.8% | $68,710 +1.5% |
| 2015 | $786 +0.9% | $67,679 +2% |
| 2014 | $778 | $66,354 +2.5% |
| 2012 | -- | $64,762 +2% |
| 2011 | -- | $63,493 +0.8% |
| 2010 | -- | $63,020 -0.2% |
| 2009 | -- | $63,170 +2% |
| 2008 | -- | $61,932 +2% |
| 2007 | -- | $60,719 +2% |
| 2006 | -- | $59,529 |
| 2005 | -- | $59,529 +4% |
| 2004 | -- | $57,219 +1.9% |
| 2003 | -- | $56,171 +2% |
| 2002 | -- | $55,071 +4% |
| 2000 | -- | $52,934 |
Find assessor info on the county website
Neighborhood: 91502
Nearby schools
GreatSchools rating
- 8/10William McKinley Elementary SchoolGrades: K-5Distance: 0.4 mi
- 5/10Dolores Huerta MiddleGrades: 6-8Distance: 0.6 mi
- 9/10Burroughs High SchoolGrades: 9-12Distance: 1 mi
Schools provided by the listing agent
- Elementary: McKinley
- High: Burroughs
Source: CRMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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Estimated market value
$866,000
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$866,000
- California
- Los Angeles County
- Burbank
- 91502
- 501 S Lake St
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