
Glendale, California 91205
This property presents a High-Potential Investment Opportunity with a List Price of $1,195,000—positioned above the $1,077,948 Fair Market Value by 10%. While priced at a premium, the asset offers significant upside through its 7,403 sq. ft. combined lot and Duplex configuration, providing immediate rental income. With a Condition Rating of 6, the 1919-built structures require modernization, yet the Zoning Potential allows for strategic redevelopment in a high-demand Glendale location. This is a sophisticated acquisition ideal for Buy-and-Hold Investors or Real Estate Developers seeking long-term growth.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 423 S Chevy Chase Subject | $1,195,000* List Price | 4 | 2 | 1,423 | $758 | - |
A 1538 E Broadway Pending | $841,000 List Price | 0 | 0 | 1,368 | $615 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1919 (105 years old) with no recorded renovations, this property is explicitly marketed as a 'development opportunity' for 'redevelopment.' The value is concentrated in the combined 7,403 sq. ft. of land and zoning potential rather than the existing structures.
The inclusion of an adjacent vacant lot brings the total land area to approximately 7,403 sq. ft., offering a rare opportunity for investors to explore adding units or full-scale redevelopment in a high-demand area.
The property features two separate existing buildings, each configured as a 2-bedroom, 1-bathroom unit, providing immediate cash flow while a buyer navigates the entitlement and planning process.
Situated near Adams Square, the property boasts excellent proximity to local amenities, schools, and transportation, making it highly attractive for future tenants or resale buyers.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =7403, other record lot size in square feet = 5433.
With the original structures dating back to 1919, the property likely requires significant capital expenditure for modernization, repairs, or system upgrades to meet current market standards.
The property is sold without pre-approved plans or guaranteed unit counts, placing the full burden of zoning verification and governmental approval risks on the buyer.
DEVELOPMENT OPPORTUNITY IN GLENDALE – DUPLEX + ADJACENT VACANT LOT Prime opportunity for investors and developers in Glendale! Located at 423 S. Chevy Chase Drive, this property features an existing duplex consisting of two separate buildings, with each unit offering 2 bedrooms and 1 bathroom. The existing duplex sits on approximately 5,433 sq. ft. of land, and the sale also includes an adjacent approximately 2,000 sq. ft. residential vacant lot under a separate APN (5674-031-013). Combined, the parcels provide approximately 7,403 sq. ft. of land, offering an attractive opportunity for a buyer looking to explore the property's future development potential. The combination of an existing duplex and additional vacant residential land creates a unique opportunity for an investor or developer to evaluate various development strategies. The property may offer potential for additional units or redevelopment, subject to applicable zoning, density, development standards, parking requirements, setbacks, and approval from the appropriate governmental agencies. Conveniently located on Chevy Chase Drive near Adams Square, the property is situated in a desirable Glendale location with convenient access to local shops, restaurants, transportation, schools, and surrounding neighborhoods. Two parcels. Existing duplex. Additional vacant residential land. Approximately 7,403 sq. ft. of combined land. An excellent opportunity for investors and developers to explore the property's potential. Buyer to independently verify all information and conduct their own due diligence regarding zoning, permitted uses, development potential, allowable number of units, lot dimensions, square footage, parking requirements, building requirements, lot lines, and all other property-related matters. Seller and listing broker make no representations or warranties regarding future development potential or the number of units that may be constructed.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 5.0 |
| Baths | 2.0 | 3.0 |
| Square foot | 1,423 | 2,293.143 |
| Lot Size | 7,403 | 7,858.286 |
| Price | $1.20M | $1.26M |
| Price per sq ft | $840 | $585 |
| Built year | 1919 | 1938 |
| HOA | $0 | $0 |
| Days on market | 29 | 60 |
Aug 11, 2026
$1,195,000
Initial Listing
Jul 18, 2005
$610,000
Public Record