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Listed by Christina K Karapetyan • Lion Group Investments Inc
$ 1,749,000
Est. payment /mo
Active
638 Salem Street Glendale, CA 91203
2,314 SqFt
UPDATED:
12/12/2024 07:41 PM
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 2,314 sqft
Price per Sqft $755
MLS Listing ID GD-24198870
Year Built 1949
Lot Size 7,020 Sqft
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.
Location
State CA
County Los Angeles
Zoning GLR-4*
Interior
Cooling Central Air
Laundry See Remarks, Common Area, Inside
Exterior
Parking Features Garage, Tandem Uncovered
Garage Spaces 1.0
Pool None
Community Features Sidewalks
Building
Lot Description 2-5 Units/Acre
Sewer Unknown
Nicole Van Parys & Gary Nesen
License Partners, Private Office Advisors | License ID: 01108944