$10,000 Closing Credit¹
#GD24189164, Silvia Hairapetian, Listing Office: JohnHart Real Estate
#GD25003773·
Listing Office: Lion Group Investments Inc·
Listing Agent: Christina Karapetyan·
Listing Office Phone: 818-434-4040
$10,000
closing credit¹
638 Salem St Glendale, CA 91203
$1,749,000 List price
$10,000
Closing credit¹
0.2 acres
Multi-Family
Property details
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 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.
Highlights
Home typeQuadruplex
StatusActive
Lot size0.1612 Acres
Year built1949
MLS #GD25003773
Garage1 space
Summary
- MLS Number: GD25003773
- MLS Name: CRMLS
- Office Name: Lion Group Investments Inc
- Office Phone: (818) 434-4040
- Listing Agent: Christina Karapetyan
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: 2/8/2025, 10:20:54 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Get an agent. Get a mortgage. Save big.¹
$1,749,000
638 Salem St
$10,000
closing credit¹
Sell your home with Rocket and save even more!
Seller rebate
0.5% sale price²
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Jun 10, 2016 | Home Sold | $1,260,000 |
| Feb 01, 1996 | Home Sold | $163,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $1,462,333 | $16,258 |
| 2023 | $1,433,661 | $15,888 |
| 2022 | $1,405,551 | $15,614 |
| 2021 | $1,377,992 | $15,350 |
| 2020 | $1,363,864 | $14,763 |
| 2019 | $1,337,122 | $14,476 |
| 2018 | $1,310,904 | $14,255 |
| 2017 | $1,285,200 | $14,255 |
History based on county public records data.
Nearby schools
5
Columbus Elementary School
Public District PK-5
0.5 mi
•425 Milford St
6
Thomas Edison Elementary School
Public District KG-6
0.6 mi
•435 S Pacific Ave
7
Mark Keppel Elementary School
Public District KG-5
1.2 mi
•730 Glenwood Rd
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $24,245. Typical income of Glendale, CA residents is less than $<35k annually. Typical family type is single, no kids. Residents of this area typically have high school diploma education.
How much money do the neighbors make?
62%
<35k
24%
35k-100k
14%
100k-200k
0%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
What types of families live nearby?
55%
Single, No Kids
6%
Single, with Kids
24%
Married, No Kids
15%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
9%
<11 yrs old
5%
12-17 yrs old
24%
18-34 yrs old
39%
35-64 yrs old
23%
65+ yrs old
What do the neighbors do for fun?
Major League Soccer (MLS)
Art Museums
Music Concerts
Where do the neighbors shop?
Banana Republic
Bloomingdales
H&M
Where do the neighbors go to eat?
Jack In The Box
Starbucks
Chipotle
What do the neighbors drive?
Toyota
Audi
Volkswagen
What do the neighbors listen to?
Jazz
News
Rhythmic Contemporary Hits
All data provided by Home Junction and Claritas
Similar homes for sale
$10,000 Closing Credit¹
#SR24253762, Gary Keshishyan, Listing Office: Pinnacle Estate Properties
This home is located at 638 Salem St in Glendale, CA and zip code 91203 in the Vineyard neighborhood. Features: 0 bathroom. It has been listed on Rocket Homes since January 10, 2025 and is currently priced at $1,749,000.
While more than 17 listings in Glendale, CA in January 2025 were sold above asking price, there were more than 2 listings sold at asking price, and more than 12 were sold below. The inventory of homes for sale in Glendale, CA between December and January 2025 increased by 3.2%. The median list price of listings available in January 2025 was $1,152,888, while the average time on the real estate market was 32 days.
From Rocket Homes Real Estate and based on county public records data.