649 W Gladstone Street, San Dimas, California 91773, San Dimas, 91773 - 2 bed, 1 bath

649 W Gladstone Street, San Dimas, California 91773 home-pic-0
ACTIVE$3,200,000
649 W Gladstone Street, San Dimas, California 91773
2Beds
1Bath
2,113Sqft
70,205Lot
Year Built
1929
Close
-
List price
$3.2M
Original List price
$3.5M
Price/Sqft
$1,514
HOA
-
Days on market
-
Sold On
-
MLS number
CV24068771
Home ConditionTear down
Features
Good View: Mountain(s), Neighborhood
ViewMountain(s), Neighborhood

About this home

We found 3 Cons,5 Pros. Rank: price - $3.20M(96th), sqft - 2113(66th), beds - 2(5th), baths - 1(4th).

Unlock the potential of this exceptional vacant land opportunity nestled in the vibrant heart of San Dimas. Property is in a prime location at the corner of N Amelia Ave & W Gladstone St, this expansive 1.61-acre lot presents an enticing prospect for builders and investors alike. The true value of this property lies in its development potential, with land entitlements already secured and a tentative tract map for subdivision approved. This parcel offers the drafted plans for the creation of six detached single-family homes. Each residence provides a spacious living environment, ranging from 2383 to 2597 square feet, providing ample room for comfortable modern living. Encompassing a total of over 70,000 square feet, this sizable lot presents endless possibilities. *Each lot has the capability of building a ADU adding another additional maximum of 1,000 livable square per ADU.* Most recent plans have the total proposed livable square footage as 19,754. Located a mere 0.2 miles away, Arma J. Shull Elementary School, boasts a stellar 10 rating and provides an excellent educational option for families. The bustling Glendora Marketplace is also within easy reach, offering a plethora of shopping, dining, and entertainment options just 0.8 miles away. A small single-family house currently occupies a portion of the land, offering 2 bedrooms and 1 bathroom with approximately 750 square feet. Additionally, a liquor store building comprising approximately 1400 square feet stands on the lot.

Price History

Date
Event
Price
09/25/25
Price Change
$3,200,000
04/07/24
Listing
$3,500,000
Condition Rating
Tear down

The property, built in 1929, is explicitly marketed as a 'vacant land opportunity' with its 'true value' lying in its 'development potential' for new construction. The existing small single-family home (750 sqft) and liquor store building are not highlighted as assets, and no interior images or renovation details are provided. Given the age of the structures and the focus on redevelopment, they are considered beyond repair and intended for demolition, aligning with the 'tear-down' criteria.
Pros & Cons

Pros

Approved Development Potential: The property boasts a tentative tract map for subdivision into six detached single-family homes, significantly de-risking and streamlining the development process for builders and investors.
Secured Land Entitlements: Land entitlements are already secured, which is a major advantage, reducing the time, cost, and uncertainty typically associated with obtaining development approvals.
ADU Development Capability: Each proposed lot has the capability to build an Accessory Dwelling Unit (ADU) of up to 1,000 square feet, adding substantial value and rental income potential to each future home.
Prime Location & Amenities: Situated on a prominent corner in the vibrant heart of San Dimas, the property is conveniently located near a highly-rated elementary school (10 rating) and the bustling Glendora Marketplace.
Expansive Lot Size: The generous 1.61-acre (over 70,000 square feet) lot provides ample space for the proposed six single-family homes, each ranging from 2383 to 2597 square feet, plus ADUs.

Cons

Demolition of Existing Structures Required: The presence of an existing small single-family house and a liquor store building on the lot necessitates demolition, adding significant upfront costs and time to the development timeline.
Substantial Upfront Investment: Despite secured entitlements, the project requires a considerable capital outlay for infrastructure development, construction of six homes, and associated soft costs, making it suitable for well-capitalized investors/developers.
Market & Construction Risk: As a large-scale development, the project is inherently exposed to fluctuations in construction material costs, labor availability, interest rates, and the future housing market demand upon completion.

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