19050 Colima Rd - Apartments FOR SALE


Rowland Heights, CA 91748- Rowland
$17,320,000 USD
949-756-3232
19050 Colima Rd, Rowland Heights, CA for Sale
$17,320,000 USD
Apartments - FOR SALE
1/10
null | 5.45% Cap Rate

19050 Colima Rd
Rowland Heights, CA 91748
Rowland


HIGHLIGHTS

  • Developed & Constructed by Current Ownership - First Time on Market
  • 1976 Construction on Over 4.25 Acres
  • Almost 75% Large 2-Bedroom 1-Bath and 2-Bedroom 2-Bath Units
  • Excellent Location Near the Intersection of Colima Rd. & Nogales St.
  • Well-Maintained & Gated Property with Over 2:1 Parking
  • $258/Sq. Ft. & $237K/Unit; Below a 10.5 GRM on Current Income & Over an 8% Cap Rate on Market Rents

OVERVIEW

We are pleased to present Woodcrest Apartments, a 73-unit multifamily investment opportunity in Rowland Heights. Offered for sale for the first time, the property was developed and constructed by the current ownership in 1976 and is situated on over 4.25 acres. Woodcrest Apartments features a desirable unit mix primarily consisting of large two-bedroom, one-bath, and two-bedroom, two-bath units, including 17 single-story, two-bedroom, two-bath units with vaulted ceilings and dual-master layouts. Approximately 25% of units have been upgraded with laminate flooring, renovated kitchens, and improved bathrooms. Units feature wall A/C, gas heating, spacious bedrooms, and private patios or balconies. Property amenities include a pool, spa, large green courtyard, leasing office, gated access, over 2:1 parking, laundry facilities, and a security camera system. The property also features copper plumbing throughout, with one building recently re-plumbed and improved with a new roof. Woodcrest Apartments offers investors the opportunity to acquire a well-maintained asset with significant upside and over an 8% cap rate on market rents. The property is subject to Unincorporated Los Angeles County rent control.

FOR SALE DETAILS

PRICE

$17,320,000 USD

PRICE/SF

$258 USD /SF

# OF UNITS

73

PRICE/UNIT

$237,260

CAP RATE

5.45%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Woodcrest

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1976

PARKING SPACES

148

LAND DETAILS

LAND ACRES

4.27 AC

LAND SF

185,980 SF

ZONING

LCR2*

APN/PARCEL ID

8272-017-034

ASK ABOUT THIS PROPERTY

Chris KeramatiTriqor GroupMore Info
949-756-3232

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Chris KeramatiTriqor GroupMore Info
949-756-3232

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