419 Salem St
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419 Salem St
4 Unit Apartment Building $1,890,000 ($472,500/Unit) 4.27% Cap Rate Glendale, CA 91203
Investment Highlights
- Property could be vacated in its entirely if required within 60 days after close of escrow.
- Large Units, High desired rental area in Glendale, Walking distance to Americana and Glendale Galleria.
- Exceptional opportunities for an investor to rent the units at much higher rental rate with moderate upgrading of the units.
Executive Summary
LOCATION, LOCATION!!!! This is an exceptional opportunity for an investor or a buyer to own a "Owner Occupied" 4 Unit Multi-Family Building in City of Glendale, Glendale is and will most likely always be one of the highest demands, a self-incorporated City in L.A., EZ freeway access to everywhere, Glendale attracts great demand and dictates high rental rents. This is a wonderful starter investment in Glendale, Specious Four (4) unit building, The building consists of a Two spacious (Approximately 1100 SQFT, 2Bedroom, 1 Bath Units) and Two (Approximately 700 SQFT 1Bedroom, 1-bedroom Units) Buyer to verify!, Separately metered Units, Updated units with laminate flooring, newly painted building, The property offers 4-car carport spaces, One space for each unit. The property is located within within close proximity of the Americana at Brand and the recently remodeled Glendale Galleria shopping mall.
“Property could be vacated in its entirely if required within 60 days after close of escrow” which could offer exceptional opportunities for an investor to rent the units at much higher rental rate with moderate upgrading of the units.
“Property could be vacated in its entirely if required within 60 days after close of escrow” which could offer exceptional opportunities for an investor to rent the units at much higher rental rate with moderate upgrading of the units.
Data Room Click Here to Access
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
---|---|---|
Gross Rental Income | $99,999 | $9.99 |
Other Income | - | - |
Vacancy Loss | - | - |
Effective Gross Income | $99,999 | $9.99 |
Taxes | - | - |
Operating Expenses | - | - |
Total Expenses | $99,999 | $9.99 |
Net Operating Income | $99,999 | $9.99 |
Financial Summary (Pro forma - 2024) Click Here to Access
Gross Rental Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Other Income | |
---|---|
Annual | - |
Annual Per SF | - |
Vacancy Loss | |
---|---|
Annual | - |
Annual Per SF | - |
Effective Gross Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Taxes | |
---|---|
Annual | - |
Annual Per SF | - |
Operating Expenses | |
---|---|
Annual | - |
Annual Per SF | - |
Total Expenses | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Net Operating Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Property Facts
Price | $1,890,000 | Property Subtype | Apartment |
Price Per Unit | $472,500 | Building Class | C |
Sale Type | Investment | Lot Size | 0.16 AC |
Cap Rate | 4.27% | Building Size | 3,714 SF |
Gross Rent Multiplier | 16.4 | No. Stories | 2 |
No. Units | 4 | Year Built | 1950 |
Property Type | Multifamily | Parking Ratio | 1.35/1,000 SF |
Price | $1,890,000 |
Price Per Unit | $472,500 |
Sale Type | Investment |
Cap Rate | 4.27% |
Gross Rent Multiplier | 16.4 |
No. Units | 4 |
Property Type | Multifamily |
Property Subtype | Apartment |
Building Class | C |
Lot Size | 0.16 AC |
Building Size | 3,714 SF |
No. Stories | 2 |
Year Built | 1950 |
Parking Ratio | 1.35/1,000 SF |
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
2+1 | 2 | $2,000 | 1,100 |
1+1 | 2 | $1,700 | 700 |
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Walk Score ®
Walker's Paradise (92)
PROPERTY TAXES
Parcel Number | 5637-017-032 | Improvements Assessment | $371,385 |
Land Assessment | $557,077 | Total Assessment | $928,462 |
PROPERTY TAXES
Parcel Number
5637-017-032
Land Assessment
$557,077
Improvements Assessment
$371,385
Total Assessment
$928,462
zoning
Zoning Code | GLR4YY (Zoning is Glendale R4, "Medium High Density Residential R-1650 Zoning".) |
GLR4YY (Zoning is Glendale R4, "Medium High Density Residential R-1650 Zoning".) |
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419 Salem St
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