638 Salem Street, Glendale, CA 91203
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- MLS#: GD24198870 ( Quadruplex )
- Street Address: 638 Salem Street
- Viewed: 6
- Price: $1,749,000
- Price sqft: $0
- Waterfront: No
- Year Built: 1949
- Bldg sqft: 0
- Days On Market: 89
- Additional Information
- County: LOS ANGELES
- City: Glendale
- Zipcode: 91203
- Provided by: Lion Group Investments Inc
- Contact: Christina Christina
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DescriptionPrime 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.
Property Location and Similar Properties
Features
Association Fee
- 0.00
Building Area Total
- 2314.00
Commoninterest
- None
Common Walls
- 1 Common Wall
Cooling
- Central Air
Country
- US
Days On Market
- 66
Electric Expense
- 332.00
Entry Location
- street
Fuel Expense
- 0.00
Garage Spaces
- 1.00
Insurance Expense
- 181.00
Laundry Equipment Own Lease
- Own
Laundry Features
- Common Area
- Inside
- See Remarks
Laundry Income
- 50.00
Lockboxtype
- None
Lot Features
- 2-5 Units/Acre
Netoperatingincome
- 6081.00
Parcel Number
- 5638005051
Parking Features
- Garage
- Tandem Uncovered
Pool Features
- None
Property Type
- Quadruplex
Sewer
- Unknown
Sourcesystemid
- CRM
Sourcesystemkey
- 423780286:CRM
Totalactualrent
- 8840.00
Totalexpenses
- 2859.00
Trash Expense
- 0.00
Uncovered Spaces
- 2.00
Water Sewer Expense
- 248.00
Water Source
- Public
Year Built
- 1949
Year Built Source
- Assessor
Zoning
- GLR-4*