$1,720,000
$1,680,000
2.4%For more information regarding the value of a property, please contact us for a free consultation.
1380 Elm Avenue San Gabriel, CA 91775
4,492 SqFt
Key Details
Sold Price $1,720,000
Property Type Commercial
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 4,492 sqft
Price per Sqft $382
MLS Listing ID CRPW24082238
Sold Date 06/26/24
HOA Y/N No
Year Built 1947
Lot Size 0.260 Acres
Acres 0.26
Property Description
We are pleased to present Elm Apartments, a 4+1-unit apartment community in San Gabriel, CA. The property consists of large 2 and 3-bedroom units with 1 non-conforming studio, providing an investor with an additional income stream. The units are spacious with in-unit washer and dryer hookups and have been renovated with vinyl flooring, stainless steel appliances, and granite countertops. With strong in place rents, the property generates a current cap rate of 4%, 6.1%, with market rents, offering an investor roughly 33% upside. Since this property is legally 4 units, an investor can also benefit from favorable residential financing, making it a perfect fit for investors seeking a well-located asset with upside potential.
Location
State CA
County Los Angeles
Area Listing
Zoning SLR3
Interior
Fireplace No
Laundry Other
Building
Lot Description Other
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 5387009015
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© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Bought with RyanLoria