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638 Salem Street
Glendale, CA 91203
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.
PROPERTY INFORMATION
| MLS # | GD24198870 | Lot Size | 7,020 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | Quadruplex |
| Price | $ 1,749,000
Price Per SqFt: $ 756 |
DOM | 243 Days |
| Address | 638 Salem Street | Type | Residential Income |
| City | Glendale | Sq.Ft. | 2,314 Sq. Ft. |
| Postal Code | 91203 | Garage | 1 |
| County | Los Angeles | Year Built | 1949 |
| Bed / Bath | 5 / 0 | Parking | 3 |
| Built In | 1949 | Status | Active |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | Common Area, Inside, See Remarks |
| Has Cooling | Yes |
| Cooling Information | Central Air |
| EntryLocation | street |
| Entry Level | 1 |
EXTERIOR FEATURES
| Has Pool | No |
| Pool | None |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $1,866
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 09/26/2024 | Listed | $1,749,000 |
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Listing provided courtesy of Christina Karapetyan, Lion Group Investments Inc. 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.
