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647 Salem Street

Glendale, CA 91203
  • $2,000,000
  • STATUS: Active Under Contract
  • ON SITE: 20 Days
  • ID#: GD22197509
Under Contract
$2,000,000
  • 0
    BEDS
  • 0.16
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Commercial
Built:
1961
County:

School Ratings & Info

Listing Agent(s): Arthur Mangassarian of Re/Max Tri-City Realty (818-409-0040)


Description

We are proud to offer 647 SALEM ST. The property is 6 units all one bedroom, one bath with 6 parking space in the back. Ownership has been maintaining this property for the last 30+ years with long tenancy. This suburban neighborhood is centrally located in heart ofGlendale's rental area and is convenient to some of Los Angeles most popular destinations including Griffith Park, Burbank, and Downtown Los Angeles. Highway 134 allows residents to travel across Los Angeles County with ease. Neighborhood provides residents with plenty of amenities and isdirectly adjacent to Downtown Glendale, giving residents easy access to restaurants and stores, including Glendale Galleria and The Americana. Buyer has opportunity to increase the rents, with the possibility to build a ADU on top of the garages. Seller will not accept all cash offer. Seller needs tocarry the whole financing at reasonable and competitive rates for 10 years with about 25% down payment. Buyer will have a better cash flow and will have enough time to increase the rents. SUBMIT ALL OFFERS WITH VOD AND BUYER FINANCIAL.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-09-29T00:28:47.063. This information 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. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Better Living SoCal. Licensed in the State of California, USA.
www.betterlivingsocalhomes.com/homes/132919652
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647 Salem Street Glendale, CA 91203

  • Price: $2,000,000
  • Status: Active Under Contract
  • On Site: 20 Days
  • ID#: GD22197509
0
Beds
0
Baths
0
½ Baths
0.16
Acres
1961
Built
Neighborhood:
628 - Glendale-South of 134 Fwy
County:
Los Angeles
Area:
628 - Glendale-South of 134 Fwy
Property Description
We are proud to offer 647 SALEM ST. The property is 6 units all one bedroom, one bath with 6 parking space in the back. Ownership has been maintaining this property for the last 30+ years with long tenancy. This suburban neighborhood is centrally located in heart ofGlendale's rental area and is convenient to some of Los Angeles most popular destinations including Griffith Park, Burbank, and Downtown Los Angeles. Highway 134 allows residents to travel across Los Angeles County with ease. Neighborhood provides residents with plenty of amenities and isdirectly adjacent to Downtown Glendale, giving residents easy access to restaurants and stores, including Glendale Galleria and The Americana. Buyer has opportunity to increase the rents, with the possibility to build a ADU on top of the garages. Seller will not accept all cash offer. Seller needs tocarry the whole financing at reasonable and competitive rates for 10 years with about 25% down payment. Buyer will have a better cash flow and will have enough time to increase the rents. SUBMIT ALL OFFERS WITH VOD AND BUYER FINANCIAL.
Exterior Features

Lot Features LevelRectangular LotStreet Level Open Parking Spaces 6 Parking Total 6

Property Features

Additional Parcels YN No Common Interest None Current Financing None Gross Scheduled Income 103824 Insurance Expense 2000 Land Lease YN No Laundry Features Laundry Room Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Owner Will Carry Maintenance Expense 3000 Net Operating Income 68159 Operating Expense 35665 Property Sub Type Multi Family Special Listing Conditions Standard Trash Expense 2500 Water Sewer Expense 3145 Water Source Public



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-09-29T00:28:47.063. This information 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. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Better Living SoCal. Licensed in the State of California, USA.
 
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Better Living SoCal
250 El Camino Real #104
Tustin CA, 92780
Listing Agent(s): Arthur Mangassarian of Re/Max Tri-City Realty (818-409-0040)