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611 E Acacia Avenue, Glendale, California 91205, Glendale, 91205 - bed, bath

611 E Acacia Avenue, Glendale, California 91205 home-pic-0
ACTIVE$1,150,000
611 E Acacia Avenue, Glendale, California 91205
0Bed
0Bath
2,226Sqft
8,483Lot
Year Built
1910
Close
-
List price
$1.15M
Original List price
$1.38M
Price/Sqft
$517
HOA
-
Days on market
-
Sold On
-
MLS number
WS24227733
Home ConditionTear down
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.15M(57th), sqft - 2226(43th), beds - undefined(50th), baths - undefined(50th).

611 and 611A are 2 separate units, front unit is 3 bedrooms and 2 baths, back unit is 1 bedroom and 1 bath, this property must be purchased with the adjacent property 615 and 615 A which is also listed at $ 1,275,000. Both properties are sold in as-is condition and has to close escrow concurrently. Buyer to investigate and verify suitability and buildability with City of Glendale . No warranties expressed or implied, all tenants are on month to month basis. Seller can provide expired 12 unit condo plan to qualified buyers. This property is located close to schools, shopping, and major freeways. 611 rent is $2300. It will be $2400 starting January 2025. 611 A is renting for $ 1500 per month and it will be $1600 per month starting January 2025. Both properties are selling for land value. PLEASE DO NOT DISTURB TENANTS

Condition Rating
Tear down
Built in 1910 and explicitly stated to be 'selling for land value' in 'as-is condition,' this property's value is solely based on its redevelopment potential. The absence of interior images, coupled with its age and the 'as-is' sale, strongly indicates the existing structures are beyond economical repair or significant renovation, aligning with the criteria for a tear-down.
Pros & Cons

Pros

Redevelopment Potential: The property is explicitly stated to be 'selling for land value' and the seller can provide an 'expired 12 unit condo plan,' indicating significant potential for higher-density development, especially when combined with the adjacent parcel.
Prime Location: Situated in Glendale, the property benefits from a desirable Southern California location, close to schools, shopping, and major freeways, enhancing its appeal for both residents and developers.
Existing Rental Income: As a duplex, the property generates immediate cash flow with current rents totaling $3,800/month, increasing to $4,000/month in January 2025, providing income during holding or redevelopment planning.
Flexible Tenancy: All tenants are on month-to-month leases, offering a new owner flexibility for future plans, whether it's continued rental, owner-occupancy, or facilitating a redevelopment project without long-term lease obligations.
Substantial Lot Size: With a lot size of 8,483 sqft, and the potential to combine with the adjacent property, there is ample space for significant redevelopment or expansion, aligning with the 'land value' proposition.

Cons

Mandatory Concurrent Purchase: The property must be purchased concurrently with the adjacent property (615 and 615A), significantly increasing the required capital investment and transaction complexity, potentially limiting the buyer pool.
As-Is Condition & Age: Built in 1910 and sold 'as-is' with 'no warranties expressed or implied,' the property likely requires substantial investment for deferred maintenance, upgrades, or compliance to meet modern standards, especially if not immediately redeveloped.
Extensive Due Diligence Required: Buyers are explicitly advised to 'investigate and verify suitability and buildability with City of Glendale,' indicating potential complexities or hurdles related to zoning, permits, or environmental factors that could impact redevelopment plans.

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