Silva Babaian  Realtor, Real Estate Agent, Granada Hills, CA

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    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
    • California Regional MLS IDX
    • DMCA Notice
    • 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.
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    Features
    Association Fee
    1. 0.00
    Building Area Total
    1. 2314.00
    Commoninterest
    1. None
    Common Walls
    1. 1 Common Wall
    Cooling
    1. Central Air
    Country
    1. US
    Days On Market
    1. 66
    Electric Expense
    1. 332.00
    Entry Location
    1. street
    Fuel Expense
    1. 0.00
    Garage Spaces
    1. 1.00
    Insurance Expense
    1. 181.00
    Laundry Equipment Own Lease
    1. Own
    Laundry Features
    1. Common Area
    2. Inside
    3. See Remarks
    Laundry Income
    1. 50.00
    Lockboxtype
    1. None
    Lot Features
    1. 2-5 Units/Acre
    Netoperatingincome
    1. 6081.00
    Parcel Number
    1. 5638005051
    Parking Features
    1. Garage
    2. Tandem Uncovered
    Pool Features
    1. None
    Property Type
    1. Quadruplex
    Sewer
    1. Unknown
    Sourcesystemid
    1. CRM
    Sourcesystemkey
    1. 423780286:CRM
    Totalactualrent
    1. 8840.00
    Totalexpenses
    1. 2859.00
    Trash Expense
    1. 0.00
    Uncovered Spaces
    1. 2.00
    Water Sewer Expense
    1. 248.00
    Water Source
    1. Public
    Year Built
    1. 1949
    Year Built Source
    1. Assessor
    Zoning
    1. GLR-4*
    Headshot for Associate Silva Babaian
    1. Silva Babaian / Realtor
    2. Coldwell Banker Exclusive
    3. CalBRE Lic # 01365805
    4. Mobile: 818.414.6744
    5. Fax: 818.338.5836