618 San Gabriel Boulevard
Rosemead, CA 91770
0.34 acres | #CV25075762
Description
We are proud to present 618-620 San Gabriel Blvd, a charming single-story 6-unit multifamily asset in the unincorporated City of Rosemead.
The city of Rosemead is a suburban neighborhood in the San Gabriel Valley – located within LA County just 10-miles east of Downtown Los Angeles. Surrounding markets include the cities of San Gabriel, Monterey Park, Montebello, and Whittier. Within a +/- 20-mile drive from the property, tenants enjoy reasonable commutes DTLA, Hollywood Blvd, Dodger and SOFI Stadium, Crypto.com Arena, Intuit Dome, Disneyland in Orange County, and several beaches along the coast. More intimately, tenants enjoy being 1-block away from The Shops at Montebello – a +/- 759,000 SF Retail Center with over 120 national and local tenants. Tenants are also within a 5-miunte drive to several household favorites like Costco, Home Depot, Walmart, In- N-Out, McDonalds, Olive Garden, AMC Theatre, Top Golf, and many more options. The property is also walking distance to Don Bosco Technical Institute and several other grade school options.
618-620 San Gabriel Blvd is a 6-unit multifamily asset with +/- 4,400 SF of rentable building space. The opportunity consists of 2 parcels side-by-side, totaling over 14,900 SF of land and offering plenty of space for on-site parking. The property consists of 6 single-story, ground-level units all offering 2-bedroom/1-bathroom floorplans. Each unit enjoys an oversized private backyard and one of the units has an attached single-car garage. The units boast a healthy monthly rental average of $2,167 – solving to a favorable 6.07% CAP Rate and 10.82 GRM on current rents. Similar recently renovated units in the area average $2,400 per month giving a savvy investor the opportunity to capture the remaining upside through moderate renovations over time. Since the property is located within unincorporated boundaries of the city of Rosemead and subject to rent control, a new owner should recognize the value and benefit of strong in-place rents.
Since the opportunity consists of two side-by-side triplex parcels, a new investor has the opportunity to capitalize on higher LTV options via favorable residential financing.
618-620 San Gabriel Blvd presents an excellent opportunity for all investor profiles and will prove to be a prosperous investment.
Property Details
- Lot DescriptionSixToTenUnitsAcre
- Property TypeMulti-Family
- Sewer InformationPublicSewer
- CountyLos Angeles
- Original List Price$1,700,000
- MLS #CV25075762
- MLS #CV25075762
- Property SubtypeApartment
- Cost1700000
- Acres0.3422
- Utility SourcePublic
- Year Built1956
- Stories1
- Parking Spaces6
Location
Legal
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: ERIC CHEN (#C32772)
Listing Office: CB RICHARD ELLIS (#1177)
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