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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.

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
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
Walk Score ®
Walker's Paradise (92)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

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".)
  • Listing ID: 32873881

  • Date on Market: 8/18/2024

  • Last Updated:

  • Address: 419 Salem St, Glendale, CA 91203

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