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Key Details
Sold Price $1,720,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Square Footage 4,492 sqft
Price per Sqft $382
MLS Listing ID PW24082238
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 654 - San Gabriel
Zoning SLR3*
Rooms
Ensuite Laundry Washer Hookup, Gas Dryer Hookup
Interior
Laundry Location Washer Hookup,Gas Dryer Hookup
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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Bought with Ryan Loria • Triqor Group
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