524 Porter Street, Glendale, California 91205, Glendale, 91205 - bed, bath
ACTIVE$1,399,000
524 Porter Street, Glendale, California 91205
0Bed
0Bath
3,041Sqft
7,457Lot
Year Built
1923
Close
-
List price
$1.4M
Original List price
$1.4M
Price/Sqft
$460
HOA
-
Days on market
-
Sold On
-
MLS number
BB25051120
Home ConditionFair
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.40M(71th), sqft - 3041(50th), beds - undefined(50th), baths - undefined(50th).
Prime Triplex. The front house is a 2 bedroom 2 bath plus a 1 bedroom 1 bath. The rear house is a 2 bedroom 2 bath. Long term tenants - huge upside potential in rents.
Condition Rating
Fair
Built in 1923, this triplex shows its age with inconsistent updates across units. While one kitchen and bathroom appear to have been updated within the last 15-25 years with modern cabinets, stainless steel appliances, and tile, another kitchen is significantly dated with older wood cabinets, laminate countertops, and white appliances, suggesting it hasn't been renovated in 30+ years. The property is maintained but requires minor updates and repairs to bring all units to a consistent, modern standard. Major systems are likely older, showing signs of being outdated.
Pros & Cons
Pros
Strong Income Potential: As a triplex with existing long-term tenants, the property offers immediate rental income and a stable cash flow opportunity for investors.
Significant Rent Upside: The explicit mention of 'huge upside potential in rents' due to long-term tenants indicates a clear path for a new owner to increase profitability by adjusting rents to market rates.
Desirable Location: Located in Glendale, a highly sought-after Southern California city known for its strong rental demand, amenities, and convenient access to major employment hubs.
Multi-Unit Configuration: The property features three distinct units (2 bed/2 bath, 1 bed/1 bath, 2 bed/2 bath), providing diversified income streams and reducing vacancy risk compared to a single-unit property.
Substantial Property Size: With 3041 sqft of living space on a 7457 sqft lot, the property offers generous dimensions for a multi-unit dwelling in an urban environment, providing ample space for tenants.
Cons
Age of Property: Built in 1923, the property is over 100 years old, suggesting potential for outdated systems (plumbing, electrical, HVAC) and a higher likelihood of requiring significant capital expenditures for renovations and deferred maintenance.
Rent Control & Tenant Management: Glendale is subject to rent control regulations. The presence of 'long term tenants' implies potential challenges in raising rents to market value and navigating tenant protection laws, which could complicate realizing the stated 'upside potential'.
Potential Permitting Discrepancy: The property is described as a 'Triplex' but listed with a 'Duplex' sub_type. This inconsistency could indicate that one of the units may be unpermitted, potentially leading to legal complications, fines, or requirements for conversion.