Exclusive Listings

628 Marion Pl, Glendora

Address:
628 Marion Place
Glendora, CA 91740
Price:
$2,750,000
Status:
In-Contract
Type:
Apartment
# Units:
10
Year Built:
1960
Building Size:
7,002 SF
Lot Size:
11,188 SF
CAP Rate:
4.54%
GRM:
15.49x
Price/Unit:
$275,000
Price/SqFt:
$393

Investments Highlights:

  • Non-rent control property located in north Glendora, with picturesque view of San Gabriel Mountains
  • Strong demographics with ±$100,658 average household income within a 2-mile radius
  • High CAP Rate with significant upside potential
  • Located one block south of Historic Rte 66 (retail corridor) and walking distance to South Hills Park &  mountain range
  • Cul-de-sac property in a quiet residential area
  • Minutes away from “The Village” downtown Glendora, Foothill Blvd retail corridor, Azusa Pacific University, Glendora Highschool
  • Located within an excellent public-school district
  • Easy access to FWY 210 and FWY 57

Property Highlights:

  • Excellent unit mix with 40% are large 2-bedroom units
  • Almost all units have been updated with upgraded kitchen, flooring, upgraded bathroom
  • Dual pane windows throughout with new windows a/c & heating (combo)
  • Ample parking with 15 parking spaces; Laundry machines are seller own
  • Extremely well-maintained property with good curb-appeal
  • The property and units have been extensively upgraded in the past 12 months; No known deferred maintenance
  • Separately metered for gas and electric; individual water heater in each unit


EXECUTIVE SUMMARY

The Growth Investment Group is proud to offer 628 Marion Place, a 10-unit garden-style apartment community in the City of Glendora, California. This offering presents a rare opportunity for investor to acquire a well located and updated apartment close to the foothill area of the San Gabriel Valley sub-market. It is in a strong demographics area with average household income of ±100,658 in a 2-mile radius, located within minutes from downtown Glendora “The Village”, and across the street from community of single family houses.

 

The property is a 2-story apartment that was built in 1960 and situated on a 11,188 sqft lot. It offers a good unit mix of four (4) 2 bedroom+1 bathroom and six (6) 1 bedroom+1 bathroom units. Most of the units have been upgraded with luxury wood vinyl flooring, updated kitchen, updated bathroom, dual pane windows throughout and new windows A/C & heating units. The current rental income is below market. The property has a shared laundry room (seller own machines).

 

Each unit is a large unit with living and dining room, upgraded with luxury wood vinyl flooring, some unit have new kitchen cabinets, granite/quartz countertops, custom-color paint, new bathroom (tiled bathtub/shower wall, new bathtub/shower sliding door, new bathroom vanity with mirror), plenty of storage cabinets, and ceiling fans in dining area and bedrooms. Each unit is individually metered for electricity and gas with its own individual water heater. The property provides 15 parking spaces which consist of 6 carport spaces and 9 open spaces.  It has a shared laundry room (machines are seller own), and security camera system.

 

 

LOCATION AMENITIES & ACCESS

The property is strategically located one block south of historic Rte 66, North of the 210 FWY. It is on a quiet cul-de-sac residential street. It offers excellent access to freeway 210, 57 and 605. It is within minutes to major amenities in San Gabriel Valley sub-market. It is within minutes to downtown “Glendora Village – The Avenue” which has been voted as the San Gabriel Valley’s Best Downtown for 2 years in a row. It is also located less than 2 miles from a well-known Azusa Pacific University, Citrus College, and Metro Gold Line Station. It is located less than a mile away from Foothill Presbyterian Hospital, one of a major hospital that serves San Gabriel Valley area.

Known as "Pride of the Foothills”, Glendora is nestled at the base of the scenic San Gabriel Mountains, in the eastern portion of Los Angeles County. Located approximately 27 miles from downtown Los Angeles, Glendora is known as one of Southern California's most attractive residential communities, with a variety of homes, from cozy turn-of-the-century cottages to prestigious executive hillside estates. Quality education, both public and private, is yet another shining attribute of the Glendora community. According to 1994-95 State testing results, Glendora High School students scored 30-50 percent higher than State averages in reading, writing and math. In addition, a recent graduate follow-up survey showed that approximately 80 percent of Glendora High School graduates goes on to higher education. From tree lined neighborhood streets and quaint downtown Village shops to the modern architecture of the Financial Way business center, Glendora is a haven from the fast pace of the Los Angeles metropolitan area. Welcome to Glendora, the "Pride of the Foothills."

 

Marketing Files


Due Diligence


Broker Contact

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


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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