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1726 Lake Street, Glendale, California 91201, Glendale, 91201 - 2 bed, 2 bath

1726 Lake Street, Glendale, California 91201 home-pic-0
ACTIVE$999,999
1726 Lake Street, Glendale, California 91201
2Beds
2Baths
1,454Sqft
5,533Lot
Year Built
1930
Close
-
List price
$1,000K
Original List price
$1.2M
Price/Sqft
$688
HOA
-
Days on market
-
Sold On
-
MLS number
GD25014630
Home ConditionFair
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1000.0K(33th), sqft - 1454(33th), beds - 2(50th), baths - 2(50th).

First time on the market in over 16 years! This charming Duplex is perfect for homebuyers looking to offset some of their payment with rental income or for investors seeking a prime opportunity in a desirable location. Its proximity to film studios ensures consistent tenant demand, making it a reliable income generator. The location offers plenty of street parking, a private driveway, and approved plans to convert the garage into an ADU, providing even more income potential. With a bit of additional TLC or small reconfigurations, you could significantly increase the current rental income. Don’t miss this versatile property with endless possibilities! Unit 1 (shown in photos) is 604 Sq Ft, 1 bed/1bath with laundry room. Has access to a shared small back yard. Currently vacant but listed for rent for either a month to month lease or a 6 months lease, giving the new owner flexibility. Unit 2 is 950 Sq Ft, has a bonus room, large living room, dining room, and laundry room. The unit is currently occupied, but will be vacant within 60 days.

Nearby schools

7/10
Balboa Elementary School
Public,•K-6•1.4mi
8/10
Franklin Avenue Elementary School
Public,•K-6•4.1mi
7/10
Eleanor J. Toll Middle School
Public,•6-8•1.6mi
6/10
Thomas Starr King Middle School
Public,•6-8•4.8mi
7/10
Herbert Hoover High School
Public,•9-12•1.6mi
8/10
John Marshall Senior High School
Public,•9-12•4.1mi
Condition Rating
Fair
Built in 1930, this property is aged but appears to be maintained. The kitchen features outdated white appliances, laminate countertops, and linoleum flooring, indicating a renovation that is likely 15-30+ years old. The bathroom is similarly dated with older fixtures, a basic vanity, and dated tile/flooring. While functional, both key areas require significant cosmetic updates to meet current standards. The property description itself notes that 'a bit of additional TLC or small reconfigurations' are needed, aligning with the 'fair' condition criteria.
Pros & Cons

Pros

Income Potential & Versatility: As a duplex, the property offers immediate income generation, suitable for both owner-occupants looking to offset mortgage payments and investors seeking a reliable asset. The upcoming vacancies in both units provide flexibility for new ownership.
ADU Conversion Potential: Approved plans to convert the garage into an Accessory Dwelling Unit (ADU) present a significant value-add opportunity, promising increased rental income and enhanced property value with pre-approved development.
Prime Location & Tenant Demand: Located in Glendale with proximity to film studios, the property benefits from consistent and high tenant demand, ensuring a strong rental market and stable occupancy.
Ample Parking: The availability of both plenty of street parking and a private driveway is a valuable amenity in an urban setting, enhancing convenience for tenants and owners.
Long-Term Ownership Stability: Being on the market for the first time in over 16 years suggests a stable ownership history, potentially indicating a well-maintained property and a desirable long-term investment.

Cons

Age and Required Updates: Built in 1930, the property is nearly a century old and explicitly states it requires 'a bit of additional TLC or small reconfigurations' to significantly increase rental income, implying potential deferred maintenance or outdated features.
Price History: A substantial reduction from the original list price suggests the property may have been initially overpriced or has faced challenges in attracting buyers, potentially indicating market resistance or perceived value issues.
Lack of Premium Features: The property description indicates 'view: None,' suggesting a lack of premium features such as scenic views that could otherwise enhance its market appeal and value.

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