$ 1,749,000
638 Salem ST Glendale, CA 91203
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$ 1,749,000
Est. payment /mo
Active
638 Salem ST Glendale, CA 91203
7,021 Sqft Lot
UPDATED:
11/07/2024 12:51 AM
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID GD24198870
HOA Y/N No
Year Built 1949
Lot Size 7,021 Sqft
Property Description
Prime Investment Opportunity: Four-Unit Fully Occupied Property in Desirable Glendale Neighborhood
This four-plex presents an outstanding investment opportunity with stable tenants and substantial potential for rental income growth. Located in the sought-after Glendale area, just minutes from the Glendale Galleria and The Americana, this rare property offers immediate returns with the possibility for future rent adjustments. Total rental income is $8,840. Live in the front unit and rent out the back 3 units for $6,090.
MAIN HOUSE:
The charming front house is a two-bedroom, one-bathroom residence, offering approximately 994 square feet of living space. It features modern conveniences such as central heating, air conditioning, in-unit laundry, a covered porch, and an attached garage. This combination of amenities makes it an attractive option for tenants seeking comfort and convenience. Total rental income is $2,750.
BACK UNITS:
Behind the Main House, there are three additional units, each with detached walls for enhanced privacy and reduced noise. Total rental income for the back units is $6,090:
Unit A: A 302-square-foot studio with easy street parking available.
Unit B: A 624-square-foot two-bedroom, one-bath unit with ample space for outdoor seating and two tandem parking spots on the driveway.
Unit C: A 458-square-foot one-bedroom, one-bath unit, with a private patio for outdoor seating and easy street parking available.
The back units share access to coin-operated communal washing machine and dryer
IMPROVEMENTS:
Main House: New washing machine (2017) and new dishwasher (2017).
Unit A: New refrigerator, new stove/oven, and new wall air conditioning unit.
Unit B: New water heater and upgraded kitchen countertop/cabinets (2017).
Unit C: New water heater, new central air conditioning, new stove/oven, and new bathroom vanity.
Common Area: New water heater for laundry area, new metal gate, three nest cameras for added surveillance and plants.
With its unbeatable location, privacy-focused layout, outdoor spaces, ample parking options, and potential for rent increases, this property is perfect for investors looking to capitalize on the growing demand in the Glendale area.
This four-plex presents an outstanding investment opportunity with stable tenants and substantial potential for rental income growth. Located in the sought-after Glendale area, just minutes from the Glendale Galleria and The Americana, this rare property offers immediate returns with the possibility for future rent adjustments. Total rental income is $8,840. Live in the front unit and rent out the back 3 units for $6,090.
MAIN HOUSE:
The charming front house is a two-bedroom, one-bathroom residence, offering approximately 994 square feet of living space. It features modern conveniences such as central heating, air conditioning, in-unit laundry, a covered porch, and an attached garage. This combination of amenities makes it an attractive option for tenants seeking comfort and convenience. Total rental income is $2,750.
BACK UNITS:
Behind the Main House, there are three additional units, each with detached walls for enhanced privacy and reduced noise. Total rental income for the back units is $6,090:
Unit A: A 302-square-foot studio with easy street parking available.
Unit B: A 624-square-foot two-bedroom, one-bath unit with ample space for outdoor seating and two tandem parking spots on the driveway.
Unit C: A 458-square-foot one-bedroom, one-bath unit, with a private patio for outdoor seating and easy street parking available.
The back units share access to coin-operated communal washing machine and dryer
IMPROVEMENTS:
Main House: New washing machine (2017) and new dishwasher (2017).
Unit A: New refrigerator, new stove/oven, and new wall air conditioning unit.
Unit B: New water heater and upgraded kitchen countertop/cabinets (2017).
Unit C: New water heater, new central air conditioning, new stove/oven, and new bathroom vanity.
Common Area: New water heater for laundry area, new metal gate, three nest cameras for added surveillance and plants.
With its unbeatable location, privacy-focused layout, outdoor spaces, ample parking options, and potential for rent increases, this property is perfect for investors looking to capitalize on the growing demand in the Glendale area.
Location
State CA
County Los Angeles
Area 628 - Glendale-South Of 134 Fwy
Zoning GLR-4*
Interior
Cooling Central Air
Fireplace No
Laundry Common Area, Inside, See Remarks
Exterior
Garage Garage, Tandem, Uncovered
Garage Spaces 1.0
Garage Description 1.0
Pool None
Community Features Sidewalks
Total Parking Spaces 3
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story 1
Sewer Unknown
Water Public
New Construction No
Others
Senior Community No
Tax ID 5638005051
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Listed by Christina Karapetyan • Lion Group Investments Inc • 818-434-4040