Exclusive Listings

184-room Value Add Motel with proforma CAP over 9%

Address:
6343-59 Rosemead Blvd.
San Gabriel, CA 91775
Price:
$16,500,000
Status:
Available
Type:
Apartment
# Units:
184
Year Built:
1967
Building Size:
61,701 SF
Lot Size:
1.9acre
CAP Rate:
n/a
GRM:
n/ax
Price/Unit:
$89,700
Price/SqFt:
$267

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Investment Highlights

  • Long-time owner for close to 30-years!
  • Upside potential through corrective management!
  • Extremely RARE motel investment opportunity in this sub-market
  • Large lot size of ±84,720 SF in San Gabriel Valley (C2 Zoning – Unincorporated area of Los Angeles County)!
  • Classic case of mismanaged property with high vacancy rate and bloated expenses; Proforma CAP Rate through corrective management is close to 9%
  • Superb frontage on Rosemead Blvd, surrounded by local & national retailers and other amenities the City of San Gabriel has to offer
  • Attractive income demographics of ±$95,562 average household income within a-mile radius
  • Surrounded by high-priced SFR communities
  • Ease of access to FWY 210, FWY 10; Other major attractions within short distance are Westfield Santa Anita Mall, Santa Anita Race Track, Los Angeles Arboretum, Valley Blvd retail corridor, Temple City and San Gabriel Downtown district, Old Town Pasadena, and much more.

Property Highlights

  • Garden style property with lush center courtyard
  • Prominent frontage on Rosemead Blvd which provides excellent exposure for leasing purpose
  • Self-contained 184-motel rooms
  • Two separate lots that provides flexibility for redevelopment purpose
  • Amenities: laundry area, swimming pool, maintenance room that can be converted into gym, lobby area with secured payment counter and lush landscaping

 

 EXECUTIVE SUMMARY

The Growth Investment Group is proud to offer Golden Motel, a 184-room motel investment opportunity located in the City of San Gabriel, CA (unincorporated area of Los Angeles County). This offering provides a rare opportunity for investors to acquire a well-located motel with tremendous repositioning potential through corrective management to reduce current expenses. The current vacancy is ±56% and current expenses are 70% from Effective Gross Income. The property has been with the same ownership for more than 20 years.

The property is located on Rosemead Blvd and is surrounded by single family residential communities, neighborhood shopping centers, and other residential community amenities. The property is a three-story garden style property that was built in 1967. It has an estimated size of ±61,701 SF and situated on a ±1.9acres lot. It is zoned C2 (Neighborhood Commercial) which allows multiple uses and require CUP for its current operation as a motel.

It has a lobby area with secured receptionist area and a private office. It provides a center courtyard with lush landscaping and fenced swimming pool. The property has 2 elevator shafts that have not been utilized for a long time. Each unit has an average size of ±290 sqft to ±340 sqft (buyer to verify) with small kitchenette area, closet area, and full bathroom. Each unit has a wall A/C & heating unit, carpet flooring, popcorn ceiling, laminate kitchenette countertop, refrigerator, and microwave.

The property has a total of 104 open parking spaces (4 are for disabled parking). Most of the units have not been upgraded which provides excellent repositioning opportunity to investors.

 

LOCATION AMENITIES AND ACCESS

The property occupies the highly desirable location on Rosemead Blvd with easy access to FWY 210 and FWY 10. It is within walking distance to the City of Arcadia and the City of Pasadena.  The nearby attraction includes Westfield Santa Anita Mall in Arcadia, Santa Anita Race Track, Huntington Drive retail corridor, and Rosemead Blvd retail corridor. The property is located within the award-winning Temple City Unified School District.

Because of its convenient location and prominent frontage on Rosemead Boulevard, the apartment has a superb exposure and excellent curb appeal that makes the property easy to rent.



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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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