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405 Salem St
Glendale, CA 91203
Multifamily Property For Sale
·
5 Units
Investment Highlights
- Competitive offering actual In-place CAP Rate of 3.65% / ProForma CAP Rate of 4.49% will be achieved with all units paying market rent.
- Excellent unit mix of (4) large 2 bedroom 2 bathroom units (80%) & (1) oversized 3 bedroom 2 bathroom unit (20%).
- The property has a current GRM of 18.85 With a ProForma GRM of 16.24 / 100% occupied in 100% occupancy area.
- Gross monthly property wide rents are approximately 16% under market ($1,770/monthly).
- The market rent for a 2 bedroom unit in Glendale is app. $2,250-$2,400 / The market rent for a 3 bedroom unit in Glendale is app $3,050-$3,200
- The property is located just blocks for the Glendale Galleria. The Glendale Galleria is an expansive three-story regional shopping center.
Property Facts
| No. Units | 5 | Lot Size | 0.16 AC |
| Property Type | Multifamily | Building Size | 10,128 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1970 |
| Building Class | C | Parking Ratio | 0.69/1,000 SF |
| Zoning | GLR4YY | ||
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 10,128 SF |
| No. Stories | 2 |
| Year Built | 1970 |
| Parking Ratio | 0.69/1,000 SF |
| Zoning | GLR4YY |
Amenities
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 4 | $2,010 | 1,078 |
| 3+2 | 1 | $3,080 | 1,800 |
Property Taxes
| Parcel Number | 5637-017-035 | Improvements Assessment | $1,342,116 |
| Land Assessment | $1,186,056 | Total Assessment | $2,528,172 |
Property Taxes
Parcel Number
5637-017-035
Land Assessment
$1,186,056
Improvements Assessment
$1,342,116
Total Assessment
$2,528,172
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