Exclusive Listings

6-unit Value Add in Superb Location near Valley Blvd in San Gabriel

Address:
1320 Stevens Ave
San Gabriel, CA 91776
Price:
$1,898,000
Status:
Available
Type:
Apartment
# Units:
6
Year Built:
1961
Building Size:
3,760 SF
Lot Size:
10,149 SF
CAP Rate:
3.15%
GRM:
20.25x
Price/Unit:
$316,000
Price/SqFt:

INVESTMENT HIGHLIGHTS         

  • Superior location on Stevens Ave; less than 2 blocks north of Valley Blvd and within walking distance to many new developments (Hilton Hotel, Sheraton Hotel, Hyatt Place, 400 W Valley, and many more)
  • Located within the highly ranked San Gabriel Unified School District
  • High Walkability Score of 81; walking distance to the popular Valley Blvd retail corridor
  • Located close to many public transits stops and great access to FWY 10
  • Multiple new developments in the immediate area with national and local retailers
  • Non-Rent Controlled and non rent freeze investment with strong rental upside
  • Excellent opportunity for an investor or 1031 exchange buyer

PROPERTY HIGHLIGHTS

  • Excellent unit mix with two 2B+1B and four 1B+1B
  • Ample parking – total 8 parking spaces; NO Soft Story retrofit required
  • Desirable layout with single story buildings, and detached units (total 3 buildings)
  • Large lot size of 10,149 SF with minimal landscaping upkeep needed
  • Clean, easy to operate apartment building with very low vacancy history
  • Recent major improvements include a roof replacement (less than 10-year old roof), new laminate flooring in all units, laundry hookups in 2 units, 3 units have been upgraded
  • Property has been impeccably maintained; Separately metered for electricity and gas

 

EXECUTIVE SUMMARY

The Growth Investment Group is proud to offer 1320 Stevens Ave, a charming 6-unit NON-Rent Control apartment located in the extremely desirable City of San Gabriel, CA. The property is in a quiet and highly convenient location near Valley Blvd. This highly-desirable location is nearby the Hilton hotel, Sheraton hotel, Hyatt Place (under construction: 222-room Hyatt hotel + 87 condominiums+ 55k sqft retail), San Gabriel Square shopping center, and 400 W Valley Blvd (proposed: 197 condominiums + 50k sqft retail). Located just seconds away is Vincent Lugo Park and within walking distance is Valley Blvd, with all of its amenities such as 168 Supermarket, CVS Pharmacy, Ajisen Ramen, and a myriad of other restaurants and shops. It has a very high Walkability Score of 81 and is also located close to many public transits.

The property consists of 3 different buildings. The front building is a 2-story building and the back buildings are single-story apartments. It offers excellent unit mix of two 2Bedroom + 1Bathroom and four 1Bedroom + 1Bathroom. It sits on a large lot size of 10,149 SF with minimal landscaping upkeep needed. It was built in 1961 and has been very well-maintained. The property has also seen major improvements recently with the whole roof being replaced less than 10-years ago (buyer to verify – no documentation). All units have been upgraded with laminate flooring and relatively new water heaters as well. Three units have been upgraded with new kitchen cabinets and quartz kitchen countertops.

Most tenants are long-time tenants which provides significant rental upside potential due to its excellent location. Parking is provided by 2 covered parking spaces and 6 open space parking spaces on each side of the building. There is ZERO SOFT STORY retrofit required on this property.

 

LOCATION AMENITIES AND ACCESS

The property is in the heart of San Gabriel and not subjected to rent control nor rent freeze. The property is located on Stevens Ave and is less than 2 blocks north of Valley Blvd. The area is experiencing a major growth with many new condominiums’ development under construction or in the pipeline. Hyatt Place is a 222-rooms Hyatt Hotel and 87 condominiums that is currently under construction. 400 W Valley Blvd is another proposed project for 197 condominiums + 50k sqft retail. These are in addition to Hilton Hotel, Sheraton, and San Gabriel Valley mall which are all within walking distance from subject property.

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.

Restaurants and shops that are readily accessible include 168 Supermarket, CVS Pharmacy, Starbucks, Planet Fitness, Cali Mart, Lee’s Sandwiches, the Hilton Hotel, Wendy’s, Bank of America, Chase Bank, San Gabriel Square which is anchored by 99 Ranch Market, DAISO JAPAN, and many more stores and eateries. With Valley Blvd being the main shopping and eating hub of San Gabriel, the property is rare in that anything can be easily accessed by walking and/or biking.




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
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