638 Salem Street, Glendale, CA 91203
-
Listed Price :
$1,749,000
-
Beds :
N/A
-
Baths :
N/A
-
Property Size :
N/A sqft
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Year Built :
1949
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.
Interior Features
| Laundry Information |
| Location(s) |
Common Area, Inside, See Remarks |
| Bedroom Information |
| Bedrooms |
N/A |
| Bathroom Information |
| Bathrooms |
N/A |
| Interior Information |
| Cooling Type |
Central Air |
Listing Information
| Address |
638 Salem Street |
| City |
Glendale |
| State |
CA |
| Zip |
91203 |
| County |
Los Angeles |
| Listing Agent |
Christina Karapetyan DRE #01431798 |
| Courtesy Of |
Lion Group Investments Inc |
| List Price |
$1,749,000 |
| Status |
Active |
| Type |
Residential Income |
| Subtype |
Quadruplex |
| Structure Size |
N/A |
| Lot Size |
7,020 |
| Year Built |
1949 |
Listing information courtesy of: Christina Karapetyan, Lion Group Investments Inc. *Based on information from the Association of REALTORS/Multiple Listing as of Nov 5th, 2024 at 9:05 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
