Back To Search
405 Salem Street
Glendale, CA 91203
Sold
HIGHLIGHTS: Competitive offering actual In-place CAP Rate of 3.65% / ProForma CAP Rate of 4.49% will be achieved with all units paying market rent. / Gross monthly property wide rents are approximately 16% under market ($1,770/monthly). / Excellent unit mix of (4) large 2 bedroom 2 bathroom units (80%) & (1) oversized 3 bedroom 2 bathroom unit (20%). / The market rent for a 2 bedroom unit in Glendale is app. $2,250-$2,400 / The market rent for a 3 bedroom unit in Glendale is app $3,050-$3,200 / The property has a current GRM of 18.85 With a ProForma GRM of 16.24 / 100% occupied in 100% occupancy area. / The property is located just blocks for the Glendale Galleria. The Glendale Galleria is an expansive three-story regional shopping center. The 5-unit property is composed of Four (4) two-bedroom / two-bathroom units and One (1) three-bedroom / two-bathroom unit. The property was built in 1970 and features tuck-under onsite parking. The property is located just minutes from The Glendale Galleria (0.7 miles) & The Americana At Brand (0.8 miles).
PROPERTY INFORMATION
| MLS # | IV23034094 | Lot Size | 6,804 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | Apartment |
| Price | $ 2,495,000
Price Per SqFt: $ 408 |
DOM | 817 Days |
| Address | 405 Salem Street | Type | Residential Income |
| City | Glendale | Sq.Ft. | 6,112 Sq. Ft. |
| Postal Code | 91203 | Garage | N/A |
| County | Los Angeles | Year Built | 1970 |
| Bed / Bath | 5 / 0 | Parking | 5 |
| Built In | 1970 | Status | Closed |
| Sold Date | 2023-05-23 |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | Common Area |
EXTERIOR FEATURES
| Has Pool | No |
| Pool | None |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $2,661
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 05/23/2023 | Sold | $2,430,000 |
| 02/28/2023 | Listed | $2,495,000 |
Topfind Realty
REALTOR®
(844)-333-8033
Questions? Contact today.
Interested in buying or selling a home similar to 405 Salem Street?
Listing provided courtesy of ALBERT LE, LE INVESTMENT GROUP. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
