638 Salem Street
Description
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...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.
- Listed by Christina Karapetyan • DRE #01431798 • Brokerage DRE #01985270 • Lion Group Investments Inc • 818-434-4040
Property Details for 638 Salem Street
Property Details for 638 Salem Street
| Status | Active |
|---|---|
| MLS # | GD24198870 |
| Days on Market | 69 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1949 |
| Lot Size | 0.16 AC / 7,020 SF |
| County | Los Angeles County |
Building Information for 638 Salem Street
Property Information for 638 Salem Street
- Gross Income: $8,890
- Gross Scheduled Income: $8,840
- Vacancy Allowance: 0
- Gross Operating Income: $8,840
- Net Operating Income: $6,081
- Laundry Income: $50
- Operating Expense: $2,809
- Fuel Expense: $0
- Electric Expense: $332
- Insurance Expense: $181
- Trash Expense: $0
- Water Sewer Expense: $248
- Total Expenses: $2,859
- Tax Tract Number: 3399
- Tax Census Tract: 3017.02
- CFD/Mello-Roos Fee: $382
- Tax Lot: 49
- Community Features: Sidewalks
- Laundry: Yes
- Laundry Features: Common Area, Inside, See Remarks
- Laundry Equipment Own Lease: Own
- Cooling: Central Air
- Entry Location: street
- Pool Features: None
- Pool: N/K
- Lot Features: 2-5 Units/Acre
- Land Lease: No
- Sewer: Unknown
- Water Source: Public
- Garage Spaces: 1
- Parking: Yes
- Uncovered Spaces: 2
- Parking Features: Garage, Tandem Uncovered
- Unit Type Units Total: 1
- Unit Type Beds Total: 0
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $1,650
- Unit Type Total Rent: $1,650
- Unit Type Pro Forma: 1650
- Unit Type Type: 1
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 1
- Unit Type Garage Attached: Yes
- Unit Type Actual Rent: $2,750
- Unit Type Total Rent: $2,750
- Unit Type Pro Forma: 2750
- Unit Type Type: 2
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $2,350
- Unit Type Total Rent: $2,350
- Unit Type Pro Forma: 2350
- Unit Type Type: 3
- Unit Type Units Total: 1
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $2,090
- Unit Type Total Rent: $2,090
- Unit Type Pro Forma: 2090
- Unit Type Type: 4
- Unit Type Units Total: 4
- Unit Type Beds Total: 5
- Unit Type Baths Total: 0
- Unit Type Furnished: Unfurnished
- Unit Type Actual Rent: $8,840
- Unit Type Total Rent: $8,840
- Unit Type Type: 5
- Number Of Units Leased: 4
- Rent Controlled: Yes
- Number Of Buildings: 4
- Number Of Separate Electric Meters: 1
- Number Of Separate Gas Meters: 1
- Number Of Separate Water Meters: 1
Property History for 638 Salem Street
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 638 Salem Street
Schools near 638 Salem Street
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | K to 6 |
Rating | School | Distance |
|---|---|---|
Columbus Elementary School PublicK to 5 | ||
Eleanor J. Toll Middle School Public6 to 8 | ||
Herbert Hoover High School Public9 to 12 | ||
Thomas Edison Elementary School PublicK to 6 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of Lion Group Investments Inc, Christina Karapetyan, DRE #01431798
Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.