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Additional details
Listed by Handoko Chen • Growth Investment Group Pasade
$2,900,000
Est. payment /mo
8,274 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 8,274 sqft
Price per Sqft $350
MLS Listing ID CRAR25202976
HOA Y/N No
Year Built 1978
Lot Size 0.412 Acres
Property Sub-Type Other
Source Datashare California Regional
Property Description
Prime 10-unit Value-add in Temple City, First Time for Sale Since 2011, Newer Construction built in 1978, Clear Upside with 6.61% Proforma CAP Rate, Large C3 Zoned Lot, Garage parking prime for ADUs Conversions, Excellent Roof Condition + Plumbing upgraded. A very well maintained 2-story garden style apartment in the highly desirable area of Temple City, CA (unincorporated area). This newer built property (completed in 1978) has been in the same ownership since 2011. Temple City apartment market has always been known as a “high-barrier-to-entry†and “no inventory†market as there are very limited numbers of multifamily community offered for sale. The current rental income is low with an estimated ±32% below market! The properties are offered at a very attractive price per unit and offer a whopping 6.61% Proforma CAP Rate and 10.79x Proforma GRM, making this an attractive investment for a savvy buyer. The property has a large building size of 8,274SF and sits on a large 17,922SF corner lot. The lot has a high-density zoning (C3 – buyer to verify), offering future redevelopment possibilities and/or clear ADUs upside. The community is very well maintained with excellent curb appeal. It has three (3) large 2bed+1bath, and seven (7) spacious 1bed+1bath units. All the tenant
Location
State CA
County Los Angeles
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Vinyl, Carpet, Wood
Fireplace No
Laundry Common Area, Other
Exterior
View None
Building
Lot Description Corner Lot, Level, Other
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Vicky Van Brocklin
Broker | License ID: 01512910
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