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Listed by Eric Chen • CB RICHARD ELLIS
$ 1,700,000
Est. payment /mo
Pending
618 San Gabriel Boulevard Rosemead, CA 91770
4,400 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Pending
Purchase Type For Sale
Square Footage 4,400 sqft
Price per Sqft $386
MLS Listing ID CV-25075762
Year Built 1956
Lot Size 0.342 Acres
Property Sub-Type Apartment
Property Description
We are 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.
Location
State CA
County Los Angeles
Area 651 - Rosemead/S. San Gabriel
Zoning LCC2*
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Laundry Dryer Included, Gas & Electric Dryer Hookup, Inside, Washer Hookup, Washer Included
Exterior
Parking Features Gated
Garage Spaces 6.0
Pool None
Community Features Curbs, Sidewalks
Building
Lot Description 6-10 Units/Acre
Sewer Public Sewer