638 Salem Street , Glendale, CA 91203
Glendale, CA 91203
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.
Details
| Mls | GD24198870 |
|---|---|
| Listing Type | For Sale |
| Style | Attachd |
| Subtype | Resale |
| Status | Active |
| Year | 1949 |
| Days On Site | 79 |
| Listing Provided By | Lion Group Investments Inc 818-434-4040 | Christina Karapetyan |
Features
| Sq Feet | 2,314 |
|---|---|
| Garage | 1 |
| Storys | 1 |
| Units | 4 |
| Buildings | 4 |
| Zoning | GLR-4* |
| Acreage | 0.16 |
Market Activity 91203
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Glendale |
| Zip Code | 91203 |
| Area | 628 Glendale South of 134 Fwy |
| Listing VS Median (in 91203) | |
Price: $1,749,000 low | high Med: $5,375 SqFt: 2,314 low | high Med: 1,015 $ / SqFt: $756 low | high Med: $6 On Site: 79 low | high Med: 286.000000 | |
