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

615 E Acacia Avenue, Glendale, California 91205 home-pic-0
ACTIVE$1,150,000
615 E Acacia Avenue, Glendale, California 91205
0Bed
0Bath
2,019Sqft
8,764Lot
Year Built
1912
Close
-
List price
$1.15M
Original List price
$1.38M
Price/Sqft
$570
HOA
-
Days on market
-
Sold On
-
MLS number
WS24226406
Home ConditionPoor
Features
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.15M(57th), sqft - 2019(43th), beds - undefined(50th), baths - undefined(50th).

615 A and B are 2 separate units , front units is 3 bedrooms and 2 baths, back unit is 1 bedroom 1 bath. this property must be purchased with the adjacent property 611A and 611B which is also listed at $1.275 millions. Both properties are sell 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 on both properties occupied 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. 615 A rent will be $3400 starting April 2025. 615 B rent will be $1800 starting April 2025. PLEASE DO NOT DISTURB TENANTS

Condition Rating
Poor
Built in 1912 and sold in 'as-is' condition, this property requires substantial repairs and rehabilitation. The images reveal extremely outdated kitchens with old appliances, laminate countertops, and dated cabinetry, along with bathrooms featuring very old tile, fixtures, and vanities. The flooring throughout appears to be a mix of old carpet and linoleum. While currently tenant-occupied, the property's major systems and finishes are likely well past their expected lifespan and would require significant investment to meet modern living standards, aligning with the 'poor' condition criteria.
Pros & Cons

Pros

Income-Generating Property: The property features two separate units with established rental income, including future rent increases for both units starting April 2025, providing immediate cash flow.
Development Potential: The seller can provide an expired 12-unit condo plan, indicating significant potential for future redevelopment or value-add opportunities, subject to city verification.
Prime Location: Strategically located in Glendale, close to schools, shopping centers, and major freeways, enhancing its appeal to tenants and future appreciation.
Multi-Unit Configuration: Comprising a 3-bedroom, 2-bath unit and a 1-bedroom, 1-bath unit, this duplex offers flexibility for investors seeking multiple income streams or potential owner-occupancy with rental income.
Price Adjustment: The current list price of $1.15M is a reduction from the original list price of $1.375M, potentially offering a more attractive entry point for buyers.

Cons

Mandatory Concurrent Purchase: This property must be purchased concurrently with the adjacent property (611A and 611B, listed at $1.275M), significantly increasing the total investment to $2.425M and narrowing the buyer pool.
As-Is Condition & Age: Built in 1912 and sold in 'as-is' condition with no warranties, the property likely requires substantial investment for repairs, renovations, and upgrades to meet modern standards.
Tenant Occupied & Access Restrictions: Both units are tenant-occupied on month-to-month leases, with a strict 'do not disturb tenants' directive, which may complicate showings, inspections, and potential owner-occupancy plans.

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