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720 Salem St
For Sale $3,200,000 ($479.04 per Sq Ft)
$3,200,000 ($479.04 per Sq Ft)
- 16 Units
- 6,680 Sq Ft
- 15,782 Sq Ft
- Unknown Cap Rate
Description
6.15% CAP Rate (updated rate after October increase) . 16-unit bungalow-style apartment building situated on a large lot in prime Glendale. Listing price is under market value, offering strong upside potential for the right investor. All units are fully leased on month-to-month terms, allowing flexibility for repositioning. Property features classic California bungalow charm with potential to add private patios. Great unit mix and solid income-producing asset in a high-demand rental market. Close to schools, shopping, and transportation. 8% added to rent from starting October. Open to 1031 Exchange. Showings scheduled after offer is submitted. Drive-by only.
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Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $3,200,000 |
| Property Type | Multi-Family |
| Usable Sqft | 6,680 |
| Number of Stories | 1 stories |
| Parking Spots | 0 spots |
| Year Built | 1950 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 5638006007 |
| MLS # | 25559697 |
| Property ID | 321947162 |
| Lot Sqft | 15,782 |
| Zoning | GLR4P* |
| Total Units | 16 |
| Days on Market | 162 |
| Original List Price | $3,200,000 |
| Date Updated | December 03, 2025 |
| Date Created | July 01, 2025 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | 1 | 1.00 | $1,361 | $1,400 |
| Unit #2 | 0 | 1.00 | $1,361 | $1,400 |
| Unit #3 | 0 | 1.00 | $1,300 | $1,400 |
| Unit #4 | 0 | 1.00 | $1,350 | $1,450 |
| Unit #5 | 1 | 1.00 | $1,512 | $1,600 |
| Unit #6 | 1 | 1.00 | $1,485 | $1,550 |
| Gross Income (Yr) | $ 258,123 |
| Operating Expenses | $ 81,684 |
| Net Income (Yr) | $ 196,428 |
| Cap Rate | 6.14% |
Listing Provided By
Arash Salehpour an agent of . Lic #02213984
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