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241 243 N Verdugo, Glendale, California 91206, Glendale, 91206 - bed, bath

241 243 N Verdugo, Glendale, California 91206 home-pic-0
ACTIVE$2,999,999
241 243 N Verdugo, Glendale, California 91206
0Bed
0Bath
19,500Sqft
14,526Lot
Year Built
1921
Close
-
List price
$3M
Original List price
$3M
Price/Sqft
$154
HOA
-
Days on market
-
Sold On
-
MLS number
GD25140587
Home ConditionTear down
Features
View-

About this home

We found 3 Cons,5 Pros.

241 N Verdugo, 243 N Verdugo and 1322 E California Don't miss out on this great owner user or investment/development opportunity! This is an investor’s and developer’s dream! A Rare Development Opportunity in an Extremely Prime Glendale Location! Unlock the Full Potential of these exceptional 3 Properties with Endless Development Possibilities. There is Potential to keep all 3 properties and possibly add up to 6 ADU’s. This offering is ideal for Mixed Use, Multi-Unit Development or a High-Yield Investment building on an approximately 14,526 square foot lot with approximately 3,500 square feet of commercial and the potential to develop up to 16 residential rental units or condos that are each approximately 1,000 square feet. Centrally located near schools, supermarkets, restaurants, and just minutes from all the vibrant restaurants and coffee shops in Silver Lake, Atwater Village downtown Glendale, Burbank, and the Rose Parade route. Build New Wealth! Rare properties like these in this area sell very quickly, are priced right, and will not last long in this hot market!

Condition Rating
Tear down
The property was built in 1921, making it over 100 years old. The listing description focuses entirely on the 'development opportunity' and 'endless development possibilities' for the land, including potential for multi-unit development or ADUs, rather than the condition or features of the existing structures. There are no interior images provided, which strongly suggests the current structures are not a selling point for their livability. The property's value is clearly based on the land and its redevelopment potential, aligning with the 'tear-down' criteria where the structure is beyond repair or its value is solely on the land.
Pros & Cons

Pros

Exceptional Development Opportunity: The property is explicitly marketed as an 'investor's and developer's dream' with 'endless development possibilities,' including potential for up to 16 residential units or condos and 6 ADUs.
Prime Glendale Location: Situated in an 'extremely prime Glendale location,' offering central proximity to schools, supermarkets, restaurants, and vibrant neighboring areas like Silver Lake, Atwater Village, and downtown Burbank.
Significant Lot Size: An approximately 14,526 square foot lot provides ample space for substantial multi-unit or mixed-use development, a rare asset in this urban area.
Mixed-Use Potential: The offering is ideal for 'Mixed Use' development, allowing for diverse income streams and maximizing land use in a desirable urban setting.
Existing Commercial Space & Multiple Parcels: Includes approximately 3,500 square feet of existing commercial space across three properties, offering immediate income potential or a foundation for a larger project.

Cons

Advanced Age of Structures: Built in 1921, the existing properties are over a century old, likely necessitating significant renovation, modernization, or complete demolition for any major redevelopment project.
High Capital Investment & Complexity: Realizing the full development potential (up to 16 units, mixed-use) will require substantial capital investment, extensive planning, and navigating complex permitting and construction processes.
Unspecified Current Condition: The description focuses solely on development potential and does not detail the current condition of the existing structures, implying potential for deferred maintenance or significant upgrade costs prior to or during redevelopment.

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