Exclusive Listings

10-unit Value Add in north Glendora, Highest CAP Rate in the area

Address:
628 Marion Pl
Glendora, CA 91740
Price:
$2,900,000
Status:
Available
Type:
Apartment
# Units:
10
Year Built:
1960
Building Size:
7,002SF
Lot Size:
11,188SF
CAP Rate:
4.71%
GRM:
14.95xx
Price/Unit:
$290,000
Price/SqFt:
$414

Investments Highlights:

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

Property Highlights:

  • Excellent unit mix with 40% are large 2-bedroom units
  • Many 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
  • Separately metered for gas and electric, individual water heater in each unit
  • Easy to manage apartment with excellent occupancy history

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 an excellent 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."

 




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
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