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Property profile & analytics
OFF-MARKET
Estimated value
$1,175,000
Apartment buildings
614 Salem St Glendale, CA 91203-2478
Trust Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-7414666
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1987
Construction
WOOD
Total area
7,123 SF
Lot
0.16 ac (7,030 SF)
Zoning code
GLR4YY
APN
5638-005-045
UPID
US09-7414666
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Cali Classic Car Rental Car Rental Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.18M
Owner & transaction history
Sassounian,s Living 2016 Trust · 9 yrs held
Sassounian,s Living 2016 Trust
since 2016
7 recorded transactions
Zoning & alternative use
GLR4YY · Glendale, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Glendale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Glendale submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,885,000
Current use
Blend value · Realmo final
$1.18M
Range $1.06M – $1.29M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$165 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$19,480
Tax year 2024
Assessed value
$1,696,189
Assessed 2024
Previous assessed
$1,696,189
+0.0% YoY
Effective rate
1.15%
On assessed value
Assessed land
$970,601
Assessed improvement
$725,588
Applied tax rate
4.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1987
Construction
WOOD
Heating
NONE
Cooling
CENTRAL
Units
6
Bathrooms
18
Total area
7,123 SF
Lot
0.16 ac (7,030 SF)
Zoning code
GLR4YY
APN
5638-005-045
UPID
US09-7414666
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
GLR4YY · Glendale, CA
Zoning GLR4YY · permitted uses
GLR4YY · Glendale, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Glendale. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.9M
APARTMENT HOUSE (5+ UNITS) Current
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1987
Construction
WOOD
Heating
NONE
Cooling
Yes
Units
6
Bathrooms
18
Lot
0.16 ac
Current owner
From public records · entity-resolved
Sassounian,s Living 2016 Trust
Trust
Mailing address
925 W ROCKY HL AVE, MONTEBELLO, CA 90640-2537
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 15, 2025
—
Sarkis Sassounian 2016 Living Trust
—
Deed
related
$250,000 · Jpmorgan Chase Bank NA
Aug 5, 2020
—
Sarkis Sassounian
—
Deed
related
$640,000 · Commonwealth Business Bank
May 29, 2019
—
The Sarkis Sassounian 2016 Living T
—
Deed
related
$604,000 · Us Bank NA
Aug 15, 2016
—
Sassounian,s Living 2016 Trust
Sassounian,sarkis
Quit Claim Deed
related
—
Jul 11, 2016
—
Sarkis Sassounian
Sassounian,boghos
Quit Claim Deed
related
—
May 2, 2014
—
Sarkis Sassounian
Sassounian,sophia
Quit Claim Deed
related
$650,000 · California Bk&tr
Oct 29, 2003
—
Sassounian,tr
Sassounian,sarkis & Sophie
Quit Claim Deed
related
—
Jan 4, 1994
$480,000
Sarkis Sassounian
Glendale Federal
Grant Deed
$250,000 · Glendale Federal Bank
Oct 25, 1993
$519,175
Glendale Federal Bank
Salem Inv INC
Trustees Deed
related
—
Oct 3, 1988
$685,000
Salem Inv
Bould
Grant Deed
$479,500 · Glendale Federal Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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