722 E Acacia Avenue, Glendale, California 91205, Glendale, 91205 - 2 bed, 1 bath

722 E Acacia Avenue, Glendale, California 91205 home-pic-0
ACTIVE$895,000
722 E Acacia Avenue, Glendale, California 91205
2Beds
1Bath
1,002Sqft
8,406Lot
Year Built
1934
Close
-
List price
$895K
Original List price
$895K
Price/Sqft
$893
HOA
-
Days on market
-
Sold On
-
MLS number
GD25078118
Home ConditionFair
Features
Patio
View-

About this home

Possibly Over-Priced:The estimated price is 27% below the list price. We found 3 Cons,6 Pros. Rank: price - $895.0K(13th), sqft - 1002(19th), beds - 2(31th), baths - 1(31th).

Centrally located in the heart of Glendale, this incredible 8,404 sq ft lot offers outstanding potential for both homebuyers and investors. Zoned GLR4YY, the property allows for multiple development options—build up to 5 units or take advantage of the existing 726 sq ft detached garage to create a spacious ADU. The current single-family home features 2 bedrooms, 1 bathroom, and measures approximately 1,022 sq ft. It’s move-in ready and currently tenant-occupied, with the option to be delivered vacant. Even more exciting: the neighboring duplex is also for sale and can be purchased in conjunction—offering a combined opportunity to develop up to 10 units across both parcels. Current plans to build 10 units have already been submitted to the City of Glendale and are pending corrections, saving valuable time and effort for the next owner. This is a rare chance to own side-by-side properties in a high-demand area near downtown Glendale, the Americana at Brand, schools, markets, and major freeways. Whether you're looking to live, invest, or develop, opportunities like this don’t come around often! This is a rare chance to own side-by-side parcels in a high-demand area near downtown Glendale, the Americana at Brand, schools, markets, and major freeways. Whether you're looking to live, invest, or develop, opportunities like this don’t come around often!

Condition Rating
Fair

Built in 1934, this home is aged but appears to be maintained and is currently tenant-occupied, indicating it's functional. The kitchen features dated dark cabinets, older white appliances, and laminate-style countertops, clearly showing signs of being outdated. While the flooring appears to be a more recent laminate, and the interior walls are freshly painted white, the overall aesthetic, including older ceiling fans, suggests that major systems and finishes are functional but not modern. The property requires significant updates, particularly in the kitchen and likely the bathroom (not pictured), to meet current standards, aligning with the 'Fair' condition criteria.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8406, living area = 1002.
High-Density Development Potential: Zoned GLR4YY, the property offers significant development potential, allowing for the construction of up to 5 units on the generous 8,404 sq ft lot.
Prime Central Glendale Location: Strategically located in the heart of Glendale, providing excellent access to downtown, Americana at Brand, schools, markets, and major freeways, ensuring high demand.
Scalable Multi-Parcel Opportunity: A rare chance to acquire the adjacent duplex for a combined 10-unit development, with preliminary plans already submitted to the City of Glendale, saving valuable time.
ADU Conversion Potential: The existing 726 sq ft detached garage presents a clear and valuable opportunity for an Accessory Dwelling Unit (ADU) conversion, enhancing property utility and income.
Immediate Income Stream: The property is currently tenant-occupied, offering an instant rental income stream, with the flexibility to be delivered vacant for owner-occupancy or redevelopment.

Cons

Substantial Price Premium: The listing price of $895,000 is considerably higher than the estimated property value of $650,534.55, suggesting a potential overvaluation for its current state.
Aging Infrastructure/Home: Built in 1934, the existing 1,022 sq ft home is likely to have outdated systems and finishes, necessitating significant investment for renovation or demolition for redevelopment.
Small Existing Dwelling: The current 2-bedroom, 1-bathroom home is relatively small, which may limit its appeal as a primary residence for many buyers without extensive upgrades or expansion.

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