638 Salem Street

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.