618-620 San Gabriel Blvd - Apartments FOR SALE


Rosemead, CA 91770
$1,700,000 USD
909-418-2071
618-620 San Gabriel Blvd, Rosemead, CA for Sale
$1,700,000 USD
Apartments - FOR SALE
1/40
null | 6.07% Cap Rate

618-620 San Gabriel Blvd
Rosemead, CA 91770


HIGHLIGHTS

  • Exceptional San Gabriel Valley Location – Ideally Located in the City of Rosemead (UNINCORPORATED) off the 60-FWY
  • Conveniently Located within a Short 5-Minute Drive to Several Big-Name Retailers and Dining Options
  • Boasting a Favorable 6.07% CAP Rate and 10.82 GRM on Current Income, 7.00% CAP Rate and 9.77 GRM at Pro Forma
  • Higher Loan Dollar Potential – 2 Separate Triplex Parcels Side-by- Side Unlocks Residential Financing Capabilities
  • Rare & Appealing Property Configuration – Property Features 100% 2-Bedroom/1-Bathroom Units, All Single-Story, Ground-Level Floorplans
  • On-Site Parking, Large Private Yards, In-Unit Washer & Dryer, Individual Water Heaters, and More

OVERVIEW

CBRE Inc., as the exclusive advisor, is 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 $2,183 – 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.

FOR SALE DETAILS

PRICE

$1,700,000 USD

PRICE/SF

$386 USD /SF

# OF UNITS

6

PRICE/UNIT

$283,333

CAP RATE

6.07%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1956

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.34 AC

LAND SF

14,905 SF

ZONING

LCC2*

APN/PARCEL ID

5271-004-039,5271-004-040

ASK ABOUT THIS PROPERTY

Eric ChenCBRE, Inc.More Info
909-418-2071

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Eric ChenCBRE, Inc.More Info
909-418-2071

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