2 months on rocket

638 Salem St, Glendale, CA, 91203

$1,749,000

Home List Price

$10,000*

Closing Credit

0 Baths
Multi

Location

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638 Salem St, Glendale$1,749,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeQuadruplex
ParkingGarage, Tandem, Uncovered
Garage1 space
Year Built1949
CoolingCentral Air
MLS #GD24198870
Lot Size0.16 Acres
StatusActive

About 638 Salem St

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.

Property Details

Property Features

Property Information:

  • Year Built: 1949
  • Stories: 1

Listing Office:

  • Office Name: Lion Group Investments Inc
  • Office Phone: (818) 434-4040
  • Listing Agent: Christina Karapetyan

Exterior Features

Exterior Information:

  • Private Pool: No

Parking Information:

  • Garage Space: 1 space
  • Parking: Garage, Tandem, Uncovered

Lot Features

Lot Information:

  • Lot Size: 0.16 Acres

Utilities

Utilities Information:

  • Cooling: Central Air

Other

Directions Information:

  • Directions: san fernando and salem

Price Information

Listing Price Info

Price Summary:

  • List Price: $1,749,000

Tax Information:

  • Annual Amount: $15,350
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Glendale, CA.

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Glendale, CA

City

Med. Sold Price

$1.1M

Med. Price/SqFt

$717

Avg. Days On Market

29

# of Sold Homes

68

638 Salem St vs Glendale

81 DAYS ON ROCKET

+52 Days

$1,749,000

+$599K More

KEY TAKEAWAY

This property is $599K more than the Median Sold Price in Glendale, CA.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: CRMLS
  • MLS Number: #GD24198870

Listing Office:

  • Office Name: Lion Group Investments Inc
  • Office Phone: (818) 434-4040
  • Listing Agent: Christina Karapetyan

IDX Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/18/2024, 3:20:58 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Jun 10, 2016Home Sold
$1,260,000
Feb 01, 1996Home Sold
$163,000

Tax History

YEARPROP. TAXASSESSMENT
2021$15,350$1,377,992
2020$14,763$1,363,864
2019$14,476$1,337,122
2018$14,255$1,310,904
2017$14,255$1,285,200

History based on county public records data.

Payment Calculator

$8,797

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$5,310

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-4342601
5
/10

  • Columbus Elementary School

  • 425 Milford St

  • 0.48 miles

  • Public District Grades PK-5

school-card-donut-4342602
6
/10

  • Thomas Edison Elementary School

  • 435 S Pacific Ave

  • 0.61 miles

  • Public District Grades KG-6

school-card-donut-4342603
7
/10

  • Mark Keppel Elementary School

  • 730 Glenwood Rd

  • 1.18 miles

  • Public District Grades KG-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $24,245. The majority of Glendale, CA residents have income less than $35k annually. Most families are single, no kids. The most common level of education of people living in this area is high school diploma.

All data provided by Home Junction and Claritas

Rocket Homes›California›Los Angeles County›Glendale›91203›638 Salem St

This home is located at 638 Salem St in Glendale, CA and zip code 91203 in the Vineyard neighborhood. This home, which was built in 1949, sits on a 0.16 acre lot. It has been listed on Rocket Homes since September 27, 2024 and is currently priced at $1,749,000.

In November 2024, from all listings sold in Glendale, CA there were more than 31 sold above asking price, over 27 sold below and more than 10 were sold right at the asked price. The number of listings in Glendale, CA decreased by 9.8% between October 2024 and November 2024. In November 2024, listings were on the market for 29 days. During the same period, the median list price in this real estate market was $1,150,000.

From Rocket Homes Real Estate and based on county public records data.

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