Exclusive Listings

6-units Townhouse Style Apartment built in 1987

Address:
927 S Charlotte Ave
San Gabriel, CA 91776
Price:
$2,290,000
Status:
Taking Backups
Type:
Apartment
# Units:
6
Year Built:
1987
Building Size:
5,501 SF
Lot Size:
7,502 SF
CAP Rate:
4.11%
GRM:
15.87x
Price/Unit:
$381,700
Price/SqFt:
$416

INVESTMENT HIGHLIGHTS

  • A rare offering of Townhouse style apartment (built in 1987) with excellent rental upside potential
  • Within the City of San Gabriel, non-rent control property and not subject to temporary rent-freeze
  • Good demographics with ±$82,650 average household income within a-mile radius
  • Limited inventory in the “core” City of San Gabriel
  • In the heart of west San Gabriel Valley; bordered by Pasadena, Arcadia, Temple City and Alhambra
  • Excellent access to Valley Blvd retail corridor, and FWY 10
  • Nearby many new developments on San Gabriel Blvd and Valley Blvd
  • Easy access to downtown Los Angeles via FWY 10

 

PROPERTY HIGHLIGHTS

  • Newer construction townhouse style apartment, complete with Central A/C and heating in each unit, copper plumbing, etc.
  • Excellent unit mix of all 2bedroom units; Large units with an estimated unit size of ±916sqft (buyer to verify)
  • Separately metered for electricity and gas, individual water heater in each unit
  • Ample parking: combination of garage and open space parking, NO SOFT-STORY retrofit is required
  • Easy to operate apartment with high demand for rental units; Low vacancy history
  • Recent capital improvements: new exterior paint, new landscaping, recently serviced HVAC units
  • Gated entrance, Seller own laundry machines


EXECUTIVE SUMMARY

The Growth Investment Group is proud to offer 927 S Charlotte Ave, a 6-unit newer construction townhouse style apartment in the desirable City of San Gabriel. This non-rent-control property is located within minutes to San Gabriel Blvd, and Valley Blvd which offers excellent area amenities to tenants. This offering provides a rare opportunity to investors to acquire newer construction non-rent-control apartment in a very strong rental market.

The property was built in 1987, has a total of ±5,501 sqft building size and situated on a ±7,502 sqft lot with an excellent curb-appeal and neatly manicured landscaping. The property offers an excellent curb appeal and complete with central A/C and heating for each unit and garage parking. Recent capital improvements include new exterior painting, new landscaping, and recently serviced central HVAC systems. It has shared laundry room with seller own machines.

It offers excellent unit mix of three (3) large 2bedroom+1.5bathroom townhouse units, and three (3) large 2bedroom+2bathroom units. Each unit is individually metered for electricity and gas, and has individual water heater. The property has copper plumbing, and central A/C for each unit. Each unit is large with an estimated average size of ±915sqft (buyer to verify), complete with double pane windows in most units, and plenty of storage cabinets.

Two units have been upgraded leaving significant value-add potential on the remaining 4 units. There are 12 parking spaces that consist of 6 garages and 6 open spaces in the back.  The property does NOT have any tuck-under parking and does NOT require any soft story retrofit.

  

LOCATION AMENITIES AND ACCESS

The property is in the heart of City of San Gabriel with walking distance to San Gabriel Blvd and just minutes away from Valley Blvd. Tenants have ease of access to myriad of stores, restaurants, and shopping options along Valley Blvd. It is also within minutes from FWY 10 that connects to downtown Los Angeles. Public transportations are abundant along San Gabriel Blvd and Valley Blvd. The property is within a residential area and have a strong occupancy history due to its excellent location. The city of San Gabriel itself is bordered by City of San Marino, Pasadena, Arcadia, Temple City, and Alhambra.

Often referred to as the “Birthplace” of the Los Angeles metropolitan area, San Gabriel boasts a mixture of Asian, European, and North American cultures. Second and third generation Chinese Americans patronize its diverse array of stores and eateries with most being on Valley Blvd. The San Gabriel Square mall is sometimes referred to as the “Chinese Disneyland” and also by the Los Angeles Times as “the great mall of China.” It is located in the San Gabriel Unified School District which consistently ranks as one of the highest achieving schools with some of the highest scores possible among public schools in California.


Due Diligence


Broker Contact

Han Widjaja-Chen
Direct: 626.594.4900
han.chen@growthinvestmentgroup.com

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Office:
999 S. San Gabriel Blvd.
San Gabriel, CA 91776
Phone: 626.594.4901
Fax: 626.316.7552
Email: properties@GrowthInvestmentGroup.com
Copyright © 2018 GIG Real Estate, Inc. dba. Growth Investment Group - Corp. ID 02021933
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