119 W Chestnut Street, Glendale, California 91204, Glendale, 91204 - bed, bath
ACTIVE$1,499,000
119 W Chestnut Street, Glendale, California 91204
0Bed
0Bath
1,550Sqft
8,509Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Permit-Ready Development: Permits are ready to build up to five townhouse-style condo units, significantly de-risking the project and accelerating the development timeline.
Top Cons:
Demolition Required: The presence of an existing structure (year built 1920, 1550 sqft duplex) implies additional costs and time for demolition before new construction can commence.
Compared to the nearby listings
Compared against 0 nearby listings
More Insights
Built in 1920 (105 years old).
Condition: The MLS description explicitly states that the property is for 'Developers and Investors' with 'permits ready to build up to five beautiful townhouse style condo units' and that 'Entitlements are ready and all set to pull demo permits!!!'. The property was built in 1920, making it over 100 years old. The value is clearly based on the land for redevelopment, not the existing structure, which is slated for demolition. No interior images are provided, but the intent to demolish overrides any potential assessment of current interior condition.
Year Built
1920
Close
-
List price
$1.5M
Original List price
$1.7M
Price/Sqft
$967
HOA
-
Days on market
-
Sold On
-
MLS number
SR25090508
Home ConditionTear down
Features
View-
About this home
Attention Developers and Investors!!!! 8,500 square feet of flat land, permits ready to build up to five beautiful townhouse style condo units. Build in the Heart of Glendale and walking distance from The Americana!!! There are current plans and permits designed by well known architect Varoozh Saroian with Landmark Design & Construction, LLC are in the works for development. Seller is in the last stages of getting permits approved. Entitlements are ready and all set to pull demo permits!!! Units start from 1500+ to 1800+ square feet!! For its locations and price this property won’t last long!! Buyer to due their own due diligence and independent investigation with respect to the feasibility of any future development including but not limited to plans, permits and zoning.
Condition Rating
Tear down
The MLS description explicitly states that the property is for 'Developers and Investors' with 'permits ready to build up to five beautiful townhouse style condo units' and that 'Entitlements are ready and all set to pull demo permits!!!'. The property was built in 1920, making it over 100 years old. The value is clearly based on the land for redevelopment, not the existing structure, which is slated for demolition. No interior images are provided, but the intent to demolish overrides any potential assessment of current interior condition.
Pros & Cons
Pros
Permit-Ready Development: Permits are ready to build up to five townhouse-style condo units, significantly de-risking the project and accelerating the development timeline.
Exceptional Location: Situated in the heart of Glendale, walking distance to The Americana, ensuring high demand and desirability for future units due to prime accessibility and amenities.
Pre-Approved Architectural Plans: Designed by a well-known architect with entitlements ready, streamlining the development process and reducing initial planning hurdles for the buyer.
Generous Flat Land: The property offers 8,500 square feet of flat land, providing ample and easily developable space for the proposed multi-unit project.
Attractive Unit Sizes: Proposed units ranging from 1500+ to 1800+ square feet cater to a desirable market segment, appealing to a broad range of potential buyers for the finished condos.
Cons
Demolition Required: The presence of an existing structure (year built 1920, 1550 sqft duplex) implies additional costs and time for demolition before new construction can commence.
Buyer Due Diligence Burden: The listing explicitly states 'Buyer to due their own due diligence,' indicating potential for unforeseen issues or costs related to the development plans, permits, and zoning that are not guaranteed by the seller.
Permit Approval Contingency: While 'in the last stages of getting permits approved,' final approval is still pending, which could introduce delays or changes to the proposed development plan.