Exclusive Listings

6-unit Superb location in San Gabriel Mission district

Address:
401 Clary Ave
San Gabriel, CA 91776
Price:
$2,280,000
Status:
Taking Backups
Type:
Apartment
# Units:
6
Year Built:
1962
Building Size:
6,380 SF
Lot Size:
9,494 SF
CAP Rate:
3.14%
GRM:
19.41x
Price/Unit:
$380,000
Price/SqFt:
$357

INVESTMENT HIGHLIGHTS    

  • Unbeatable location in the city of San Gabriel (not unincorporated area), Mission District location; Across the street from the historic San Gabriel Mission and walking distance to San Gabriel Valley Medical Center & Hospital, San Gabriel High School, and San Gabriel City Hall
  • Walk Score 85! Easy access to Pasadena, San Marino, Arcadia, and Alhambra
  • Excellent demographics with $98,963 household income within a 1-mile radius
  • Strong rental market within low vacancy area; Rental upside
  • Located close to public transits and convenient access to FWY 10
  • Located under California AB1482 Statewide Rent Control, which provides maximum allowable rent increase

PROPERTY HIGHLIGHTS

  • Very well-maintained apartment with an excellent curb appeal
  • Superior unit mix with all 2bedroom units
  • Large building size of 6,380 SF (avg. unit size is ±1,050SF)
  • Corner lot offering excellent visibility in a mature residential area
  • 8 garage parking, individually metered for electricity and gas, shared laundry, additional storage rooms
  • Building does not have any tuck-under parking; NO soft story retrofit
  • All windows have been upgraded, recently painted exterior, and mostly replaced sprinkler system

EXECUTIVE SUMMARY

The Growth Investment Group is proud to offer 401 Clary Ave, a pride of ownership property in one of the best locations in the City of San Gabriel (incorporated area).  The property is a well-maintained 6-unit garden style apartment located in the Mission District - across the street from the historic San Gabriel Mission and just within walking distance to San Gabriel Valley Medical Center/Hospital, and San Gabriel City Hall. This is a rare offering for small asset with this quality and unit mix in one of the best locations in the City of San Gabriel.

The property is a 2-story garden style apartment with a total of 6,380 SF, which translates to large units (estimated average unit size is ±1,060SF/unit – buyer to verify!). It offers an excellent unit mix of two (2) x 2bedroom+2bathroom and four (4) x 2bedroom+1bathroom units. It was built in 1962 and situated on a ±9,494SF corner lot offering excellent visibility and great curb appeal. Parking is provided via three (3) x 2 car garages, and two (2) x 1 car garages for a total of 8 garage spaces.  It has a shared laundry facility (laundry lease) and each unit is individually metered for electricity and gas. Unit F (2b+2b) has a central A/C and heating complete with a large balcony. Recent capital improvements including windows upgrade throughout, recently painted exterior (±3 years ago), and mostly replaced sprinkler pipe. There are 2 additional storage rooms (1 rented).

LOCATION AND AMENITIES

Located within San Gabriel Mission District and just across the street from the historic San Gabriel Mission, tenants enjoy the convenience of this location. This location has Walk Score of 85 and just within walking distance to hospitals, and other amenities in the city of San Gabriel. Tenants can find many restaurants and shopping centers along Las Tunas Drive which is several blocks away from the property. Location is bordered by San Marino on the north, and Alhambra on the west. The location offers convenient access to FWY 10.




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
Copyright © 2021 GIG Real Estate, Inc. dba. Growth Investment Group - Corp. ID 02021933
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