638 Salem St Glendale, CA 91203
- Commercial real estate
Current Use by Public Records
- Commercial real estate
Property Details for 638 Salem St
- Year built
- 1949
- Property type
- Commercial real estate
Description
This prime Glendale investment opportunity presents a fully occupied four-unit apartment building at 638 Salem St, 91203. The property boasts a total net rentable area of 2,314 square feet and a strong net operating income (NOI) of $72,975. The main house, a charming two-bedroom, one-bathroom unit (approx. 994 sq ft), features central heating and air conditioning, in-unit laundry, a covered porch, and an attached garage. Three additional units provide further income streams: a studio (302 sq ft), a two-bedroom, one-bathroom unit (624 sq ft) with ample outdoor space and tandem parking, and a one-bedroom, one-bathroom unit (458 sq ft) with a private patio. Recent upgrades include new appliances and fixtures in several units, a new water heater in the laundry area, a new metal gate, and the installation of three security cameras. The property's location in desirable Glendale, near the Galleria and Americana, ensures high tenant demand and potential for future rent increases. Built in 1949, this property offers immediate returns and long-term growth potential. The asking price is $1,749,000. This is a rare opportunity to acquire a well-maintained, income-producing multifamily property in a thriving Los Angeles County market.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Glendale
- County
- Los Angeles
- State
- California
- Longitude
- -118.2683494
- Latitude
- 34.1487114
