121-131 N Wabash Ave - Apartments FOR SALE


Glendora, CA 91741
$2,950,000 USD
310-968-6049
121-131 N Wabash Ave, Glendora, CA for Sale
$2,950,000 USD
Apartments - FOR SALE
1/32
null | Request Cap Rate

121-131 N Wabash Ave
Glendora, CA 91741


HIGHLIGHTS

  • Attractive seller financing with 30% down at 6.00% interest only rate for 10 years
  • 3 separate lots combined as 9 spacious units & a vacant land with an excellent unit mix of six 2-bed cottage style units & three 1-bed units
  • A true pride of ownership property which has been Family owned and operated for over 27 years
  • Outstanding development possibilities, you can build out on the vacant lot. Current units have rental upside potential of +/- 62%
  • Three properties totals to 24,525 square feet lot zoned GDR3 & CCAPT-4, plenty of multiple ADU opportunities
  • Garden style courtyard layout with on-site parking and separate laundry room procuring additional income

OVERVIEW

ATTRACTIVE SELLER FINANCING! We are pleased to present a remarkable opportunity to own in Glendora, being offered for sale for the first time in nearly three decades. Featuring three contiguous properties in a prime north Glendora location situated North of Foothill Blvd. Attractive seller financing with 30% down at 6.00% interest only rate for 10 years! A true pride of ownership property which has been Family owned and operated for over 27 years. This sale includes 3 separate lots combined as nine spacious units and a vacant land with an excellent unit mix of six 2-bedroom cottage style units and three 1-bedroom units. The first property (on the far left side) is 121 North Wabash Avenue (with APN 8638-013-029), consisting of 3-units, featuring (two) 2-bedroom 1-bath cottage style units and (one) 1-bedroom 1-bath unit above the garage, totaling 2,111 sq.ft. situated on a 5,321 sq.ft. lot. The second property (in the middle) is 123 North Wabash Avenue (with APN 8638-013-014) consisting of a 6,402 sq.ft. vacant lot zoned GDR3. The third property (on the far right side) is 131 North Wabash Avenue (with APN 8638-013-013), consisting of 6-units, featuring (four) 2-bedroom 1-bath cottage style units and (two) 1-bedroom 1-bath units above the garage, totaling 4,098 sq.ft. situated on a 12,802 sq.ft. lot. This listing features a garden style courtyard layout with on-site parking and separate laundry room procuring additional income. The three properties totals to 24,525 square feet lot zoned GDR3 & CCAPT-4, plenty of multiple ADU opportunities. With outstanding development possibilities, you can build out on the vacant lot. Current units have rental upside potential of +/- 62%. Situated in Glendora's Civic Center Plan (30 units per acre). Potential high density condominium development and just two blocks from shopping and dining in Downtown Glendora, and within a 1/2 mile of the new Lightrail (AB2047). This property is only subject to the statewide AB1482 rent ordinance which is currently 8.9% (no local rent control). Located on North Wabash Avenue, across the street to Finkbiner Park, and nearest major cross streets of East Foothill Blvd and Glendora Avenue. This listing includes 3 contiguous parcels situated side-by-side, APN's and addresses for each one are as follows: 8638-013-029 (121 N Wabash Ave - 3 units), 8638-013-014 (123 N Wabash Ave - vacant land), 8638-013-013 (131 N Wabash Ave - 6 units). Please do not walk on the property, do not disturb or engage tenants regarding the property, all units are occupied. Drive by only, tenants are not aware of the sale, direct all questions to agent. For more information and to obtain a full marketing package (including rent roll, income/expense breakdown), please call/text/email the listing agent.

FOR SALE DETAILS

PRICE

$2,950,000 USD

PRICE/SF

$475 USD /SF

# OF UNITS

9

PRICE/UNIT

$327,778

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

(3 Parcels) 9 Units + Vacant Lot Glendora, CA

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1952

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.56 AC

LAND SF

24,525 SF

ZONING

R3, Glendora

APN/PARCEL ID

8638-013-013,8638-013-014,8638-013-029

ASK ABOUT THIS PROPERTY

Shant SherbetdjianRE/MAX Commercial & Investment RealtyMore Info
310-968-6049

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Shant SherbetdjianRE/MAX Commercial & Investment RealtyMore Info
310-968-6049

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.