1536-1534 S Del Mar Avenue

    San Gabriel, CA 91776
    • $6,878,000
    • STATUS: Active
    • ON SITE: 10 days
    • ID#: AR19214456
    UPDATED: 60 min ago
    $6,878,000
    • 0
      BEDS
    • 0.65
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 13,557
      SQFT
    • $507
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1951
    County:

    School Ratings & Info

    Description

    The property is in CORE San Gabriel location (NOT unincorporated San Gabriel) and one lot from the prime corner of Valley Blvd and Del Mar Ave; considered as one of the most desirable commercial real estate corners in west San Gabriel Valley submarket (GOLDEN MILE). This property is being offered for sale for the FIRST TIME since 1951 (68 years)!The property is located nearby several MOST exciting new developments in San Gabriel; namely Hyatt Place (222-room Hyatt Hotel +GG across the street), and The One (81 condominiums and retail +GG next door). Superb traffic count (+-29,400 average cars per day on Valley Blvd), High density area (population of +-143,666 people within a 2-mile radius), and aggressive foreign capital investments (existing and planned) made this investment offering a secure investment with strong appreciation potential for investor. This HIGHLY desirable and area amenities rich location offer excellent convenience to current multifamily tenants. It has a very high walk score of 85. The property consists of 19-unit multifamily situated on two lots totaling a large +-28,313 square foot (R3 zoning). 1534 building consists of 8-unit, and 1536 building consists of 11-unit. Due to its superior location and area amenities, the property is running at 100% occupancy. This 19-unit apartment allows investor to generate rental cash-flow while working on the entitlement.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-18T21:44:56.43. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Fred Sed Realty - Keller Williams. Licensed in the State of California, USA.
    www.fredsedgroup.com/homes/98759774

    1536-1534 S Del Mar Avenue San Gabriel, CA 91776

    • Price: $6,878,000
    • Status: Active
    • Updated: 60 min ago
    • ID#: AR19214456
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.65
    Acres
    13,557
    SQFT
    $507
    $/SQFT
    1951
    Built
    Neighborhood:
    654 - San Gabriel
    County:
    Los Angeles
    Area:
    654 - San Gabriel
    Property Description
    The property is in CORE San Gabriel location (NOT unincorporated San Gabriel) and one lot from the prime corner of Valley Blvd and Del Mar Ave; considered as one of the most desirable commercial real estate corners in west San Gabriel Valley submarket (GOLDEN MILE). This property is being offered for sale for the FIRST TIME since 1951 (68 years)!The property is located nearby several MOST exciting new developments in San Gabriel; namely Hyatt Place (222-room Hyatt Hotel +GG across the street), and The One (81 condominiums and retail +GG next door). Superb traffic count (+-29,400 average cars per day on Valley Blvd), High density area (population of +-143,666 people within a 2-mile radius), and aggressive foreign capital investments (existing and planned) made this investment offering a secure investment with strong appreciation potential for investor. This HIGHLY desirable and area amenities rich location offer excellent convenience to current multifamily tenants. It has a very high walk score of 85. The property consists of 19-unit multifamily situated on two lots totaling a large +-28,313 square foot (R3 zoning). 1534 building consists of 8-unit, and 1536 building consists of 11-unit. Due to its superior location and area amenities, the property is running at 100% occupancy. This 19-unit apartment allows investor to generate rental cash-flow while working on the entitlement.
    Exterior Features

    Carport Spaces 6.00 Garage Spaces 12.00 Lot Features Front YardLot 20000-39999 SqftRectangular LotLevelNear Public TransitValue In Land Lot Size Source Assessor Lot Size Units Square Feet Parking Features Assigned Parking Total 20.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes Spa Features None Spa YN No

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Cooling Wall/Window Unit(S) Cooling YN Yes Fireplace Features None Fireplace YN No Flooring See Remarks Heating Wall Furnace Heating YN Yes Laundry Features Common Area Levels Two

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Community Features UrbanValley Country Us Electric Expense 1836.00 Elevation Units Feet Fuel Expense 0.00 Gardener Expense 3672.00 Gross Income 240000.00 Gross Operating Income 232800.00 Gross Scheduled Income 240000.00 Insurance Expense 6120.00 Land Lease YN No Laundry YN Yes Maintenance Expense 5700.00 Net Operating Income 103360.00 New Construction YN No New Taxes Expense 89094.00 Number Of Separate Electric Meters 20 Number Of Separate Gas Meters 20 Number Of Separate Water Meters 1 Number Wall AC 19 Number With Dishwasher 0 Number With Disposal 19 Number With Range 19 Number With Refrigerator 0 Operating Expense 129440.00 Professional Management Expense 0.00 Property Sub Type Apartment Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Total Expenses 129440.00 Trash Expense 4590.00 Utilities Electricity ConnectedNatural Gas ConnectedPhone ConnectedSewer ConnectedWater Connected Vacancy Allowance Rate 3.00 Water Sewer Expense 7344.00 Water Source Public Year Built Source Assessor Zoning Slr3yy

    Listing provided courtesy of Handoko Chen of Gig Real Estate Inc.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-18T21:44:56.43. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Fred Sed Realty - Keller Williams. Licensed in the State of California, USA.
     
    Fred Sed Realty - Keller Williams
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    Irvine CA, 92604