San Gabriel, CA 91775,1380 Elm AVE
San Gabriel, CA 91775,1380 Elm AVE
San Gabriel, CA 91775,1380 Elm AVE
$1,720,000
Est. payment /mo
$1,680,000
2.4%
Est.Price: ?

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0.26 Acres Lot
SOLD DATE : 06/26/2024

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

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California Regional MLS (CRMLS)
Listed by Ryan Loria • Triqor Group
Bought with Ryan Loria • Triqor Group

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Monique H. Ott-Beacham

+1(619) 757-3109

Broker | License ID: DRE #01448692

Broker License ID: DRE #01448692

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