531 N Niagara, Burbank, California 91505, Burbank, 91505 - 7 bed, 4 bath
ACTIVE$1,600,000$3,100/sqft
Est. Value: $1,718,419
7%
BelowEstimate
531 N Niagara, Burbank, California 91505
7Beds
4Baths
3,100Sqft
6,112Lot
Price Vs. Estimate
The estimated value ($1,718,419.475) is $118,419.475 (7%) higher than the list price ($1,600,000). This property may be underpriced.
Key pros and cons
Top Pros:
Duplex Configuration & Income Potential: The property's duplex configuration offers versatile opportunities for multi-generational living, owner-occupancy with rental income, or a pure investment rental property.
Top Cons:
Property Age & Potential System Upgrades: Built in 1944, the property's age suggests potential for significant investment in updating major systems (e.g., plumbing, electrical, HVAC) and overall infrastructure, especially in the larger, non-explicitly updated unit.
Compared to the nearby listings
Price:$1.60M vs avg $1.15M (+$451,000)86%
Size:3,100 sqft vs avg 1,380 sqft97%
Price/sqft:$516 vs avg $8403%
More Insights
Built in 1944 (82 years old).
Condition: Built in 1944, this duplex presents a mixed bag of conditions. The front unit features a recently updated kitchen with modern white cabinets, granite countertops, stainless steel appliances, and hardwood-look laminate flooring, placing it in good condition. However, its bathroom is dated with an older vanity and tile. The larger back unit has a very dated kitchen with old wood cabinets, tile countertops, and older appliances, which would require substantial renovation. While one bathroom in the back unit is extensively and beautifully updated with modern fixtures and tile, other bathrooms are dated. Flooring in the back unit is a mix of worn carpet and some newer laminate. The property's age suggests potential for older major systems (plumbing, electrical, HVAC) despite some cosmetic updates. Overall, the property is functional but requires significant updates in key areas, particularly the main unit's kitchen and some bathrooms, to meet current quality standards, thus falling into the 'Fair' category.
Year Built
1944
Close
-
List price
$1.6M
Original List price
$1.6M
Price/Sqft
$516
HOA
-
Days on market
-
Sold On
-
MLS number
BB25278862
Home ConditionFair
Features
Deck
View-
About this home
Don’t miss the fantastic opportunity in Burbank. Great duplex that could be used for a place for your parents or an adult child to live with you without living WITH you. Or great opportunity for an investor looking for a rental property. The front unit is a 2 bed 1 bath unit that is updated and the back unit is a spacious 5 bed 3 bath unit with a family room and a fireplace in the living room. Both units have laundry as well. All of this in a great quiet location in Burbank.
J
Justin Worsham
Listing Agent
Condition Rating
Fair
Built in 1944, this duplex presents a mixed bag of conditions. The front unit features a recently updated kitchen with modern white cabinets, granite countertops, stainless steel appliances, and hardwood-look laminate flooring, placing it in good condition. However, its bathroom is dated with an older vanity and tile. The larger back unit has a very dated kitchen with old wood cabinets, tile countertops, and older appliances, which would require substantial renovation. While one bathroom in the back unit is extensively and beautifully updated with modern fixtures and tile, other bathrooms are dated. Flooring in the back unit is a mix of worn carpet and some newer laminate. The property's age suggests potential for older major systems (plumbing, electrical, HVAC) despite some cosmetic updates. Overall, the property is functional but requires significant updates in key areas, particularly the main unit's kitchen and some bathrooms, to meet current quality standards, thus falling into the 'Fair' category.
Pros & Cons
Pros
Duplex Configuration & Income Potential: The property's duplex configuration offers versatile opportunities for multi-generational living, owner-occupancy with rental income, or a pure investment rental property.
Prime Burbank Location: Located in a quiet, desirable area of Burbank, known for its excellent community amenities and strong property values.
Spacious Main Unit: The rear unit boasts a generous 5 bedrooms and 3 bathrooms, complete with a family room and fireplace, providing ample living space.
Updated Front Unit: The front 2-bedroom, 1-bathroom unit has been updated, offering immediate appeal and reducing initial renovation needs for occupants or tenants.
In-Unit Laundry for Both Units: Both units are equipped with their own laundry facilities, a highly convenient and sought-after amenity for residents.
Cons
Property Age & Potential System Upgrades: Built in 1944, the property's age suggests potential for significant investment in updating major systems (e.g., plumbing, electrical, HVAC) and overall infrastructure, especially in the larger, non-explicitly updated unit.
Lack of Notable Views: The property does not offer any specific views, which might be a drawback for buyers seeking scenic outlooks in a competitive market.
Property Type Discrepancy: A potential discrepancy exists between the 'Single Family Residence' sub-type and the description of a 'duplex,' which may require clarification during due diligence and could impact financing or zoning considerations.