For more information regarding the value of a property, please contact us for a free consultation.
Key Details
Sold Price $1,720,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PW24082238
Sold Date 06/26/24
HOA Y/N No
Year Built 1947
Lot Size 0.260 Acres
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 654 - San Gabriel
Zoning SLR3*
Interior
Fireplace No
Laundry Washer Hookup, Gas Dryer Hookup
Exterior
Pool None
Community Features Sidewalks
Total Parking Spaces 8
Private Pool No
Building
Lot Description Rectangular Lot
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5387009015
Acceptable Financing Conventional
Listing Terms Conventional
Financing Cash
Special Listing Condition Standard
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Ryan Loria • Triqor Group
GET MORE INFORMATION
Monique H. Ott-Beacham
Broker | License ID: DRE #01448692
Broker License ID: DRE #01448692