415 S Verdugo Road, Glendale, California 91205, Glendale, 91205 - bed, bath

415 S Verdugo Road, Glendale, California 91205 home-pic-0
ACTIVE$2,799,000
415 S Verdugo Road, Glendale, California 91205
0Bed
0Bath
3,104Sqft
7,863Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Extensive Modernization & New Construction: Two existing units were completely gutted and rebuilt to the studs in 2023 (including earthquake retrofitting, new roof, and all new electrical, plumbing, and mechanical systems), while the other two units were newly built in 2024, ensuring modern standards and longevity.
Top Cons:
Shared Water Meter: The property has a shared water meter for all units, meaning the landlord will likely be responsible for water costs or may need to implement a sub-metering system, which can add complexity and expense to property management.

Compared to the nearby listings

Price:$2.80M vs avg $1.10M (+$1,699,000)86%
Size:3,104 sqft vs avg 3,104 sqft50%
Price/sqft:$902 vs avg $53986%

More Insights

Built in 1941 (84 years old).
Condition: This property consists of four units, two of which were completely gutted and rebuilt to the studs in 2023, and the other two were newly built in 2024. The description explicitly states that 'ANYTHING and EVERYTHING on the property has been changed, replaced, and renewed according to the latest building codes, including ALL electrical, plumbing, and mechanical work.' All units feature 'high-end premium finishes' and 'brand new appliances of stove and range hood/microwave.' The images confirm modern, pristine kitchens with new cabinetry, countertops, and stainless steel appliances, as well as contemporary bathrooms with new fixtures and tiling. All flooring, lighting, and visible components are new, meeting current quality standards with no deferred maintenance. This extensive renovation and new construction within the last year perfectly align with the 'excellent' condition criteria.
Year Built
1941
Close
-
List price
$2.8M
Original List price
$3M
Price/Sqft
$902
HOA
-
Days on market
-
Sold On
-
MLS number
GD25017426
Home ConditionExcellent
Features
Patio
View-

About this home

INTRODUCING A RARE OPPORTUNITY!! FOUR STAND-ALONE UNITS IN GLENDALE! Two of the units that were existing have been remodeled COMPLETELY (Fully gutted down to the studs and rebuilt in 2023, incl.complete roof change and earthquake retrofitting), and the other 2 units have been newly built (both completed in 2024) All 4 units have high-end premium finishes as shown in the pictures and as will be seen during the property walkthrough. ANYTHING and EVERYTHING on the property has been changed, replaced, and renewed according to the latest building codes. This incl. ALL electrical, plumbing, and mechanical work. The permits obtained and completed can be viewed on the City of Glendale's designated website. Fresh concrete was also poured in July 2024. The front unit is 1bed/1bath, at 738 sqft. The second unit is a 1 bed/1.5 bath at 743 sqft. w/ SOLAR panels. The third unit is a 2bed/2bath at 916 sqft. The fourth unit is a 1bed/1.5 bath at 743 sqft. w/SOLAR panels. (Buyer to complete his/her own due diligence for verification of the provided details). Each unit comes w/1 parking spot and 1 additional parking spot still vacant to be utilized at owner's discretion. Each unit comes w/brand new appliances of stove and range hood/microwave. As expected, each unit has its own address, power and gas meters, w/water being the only shared meter as per current standards. The first, second and fourth units were rented in 2024, and the third unit is occupied by the owner and will be delivered VACANT for owner-occupation or renting it out for additional income! Total collected rent WITHOUT the owner's unit is approx. $7,900. Projecting a $3,500 rental value for the owner's unit would mean a total approx. gross rental income of $11,400 per month! All current tenants have been fully vetted and verified by the owner. DON'T MISS THE CHANCE TO SECURE THIS INCOME-PRODUCING ASSET!

Condition Rating
Excellent

This property consists of four units, two of which were completely gutted and rebuilt to the studs in 2023, and the other two were newly built in 2024. The description explicitly states that 'ANYTHING and EVERYTHING on the property has been changed, replaced, and renewed according to the latest building codes, including ALL electrical, plumbing, and mechanical work.' All units feature 'high-end premium finishes' and 'brand new appliances of stove and range hood/microwave.' The images confirm modern, pristine kitchens with new cabinetry, countertops, and stainless steel appliances, as well as contemporary bathrooms with new fixtures and tiling. All flooring, lighting, and visible components are new, meeting current quality standards with no deferred maintenance. This extensive renovation and new construction within the last year perfectly align with the 'excellent' condition criteria.
Pros & Cons

Pros

Extensive Modernization & New Construction: Two existing units were completely gutted and rebuilt to the studs in 2023 (including earthquake retrofitting, new roof, and all new electrical, plumbing, and mechanical systems), while the other two units were newly built in 2024, ensuring modern standards and longevity.
Strong Income-Producing Asset: The property offers immediate and significant cash flow, with three units currently rented for approximately $7,900/month and a projected total gross rental income of $11,400/month once the owner-occupied unit is rented.
Individual Utility Metering: Each unit benefits from its own address, power, and gas meters, simplifying tenant billing and significantly reducing the landlord's utility burden, with only water being a shared meter.
High-End Finishes & New Appliances: All four units feature premium finishes throughout and come equipped with brand new stoves and range hoods/microwaves, enhancing tenant appeal and minimizing immediate capital expenditure for the new owner.
Valuable Amenities: Solar & Parking: Two units are equipped with solar panels, offering potential energy savings, and each unit includes a dedicated parking spot, with an additional vacant spot, which is a significant advantage in an urban setting like Glendale.

Cons

Shared Water Meter: The property has a shared water meter for all units, meaning the landlord will likely be responsible for water costs or may need to implement a sub-metering system, which can add complexity and expense to property management.
Limited Unit Size Diversity: The unit mix is predominantly 1-bedroom (three 1-bed units and one 2-bed unit), which may limit the tenant pool to smaller households and potentially restrict future rental income growth compared to properties with more diverse or larger unit configurations.
Recent Price Reduction: The property has seen a price reduction from its original list price, which could indicate a perceived overvaluation or slower market absorption, potentially requiring further negotiation or a longer marketing period.

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