$1,749,000
0.16 Acre Lot

638 Salem Street, Glendale, California 91203

  • Residential Income Property Type
  • 1949 Year Built
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 water heater, new refrigerator, new stove/oven, and new wall air conditioning unit.

Unit B: New water heater (2024) 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.

See the attached Profit and Loss.

Basic Details
Residential Income
For Sale
GD25003773
$1,749,000
1949
0.16 Acre
Active
1
Quadruplex
Features
: None
: All Bedrooms Down
: See Remarks
: Public Sewer, Unknown
: Sewer Connected
$0
Address Map
CA
Los Angeles
Glendale
91203
Salem
638
Street
south of 134 freeway
628 - Glendale-South of 134 Fwy
GLR-4*
Additional Information
$0
$0
$0
$0
$0
2314
: Sidewalks
1
1.0
: One
: 0-1 Unit/Acre
4
2025-01-09
1
1
: Public
Broker/Agent Information
Lion Group Investments Inc
Christina Karapetyan
Listing Information
G87797
G8118
Cash,Cash to New Loan
Active
2025-02-23T02:15:50Z
CRMLS
: Standard
2025-01-09T14:06:46Z
Agent info
Ray Millman
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Contact Agent
Contact Us
ray@millmanteam.com 310.375.1069