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1380 Elm AVE San Gabriel, CA 91775
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Key Details
Sold Price $1,720,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PW24082238
Sold Date 06/26/24
HOA Y/N No
Year Built 1947
Lot Size 0.260 Acres
Property Description
We are pleased to present Elm Apartments, a 4+1-unit apartment community in San Gabriel, CA. The property consists of large 2 and 3-bedroom units with 1 non-conforming studio, providing an investor with an additional income stream. The units are spacious with in-unit washer and dryer hookups and have been renovated with vinyl flooring, stainless steel appliances, and granite countertops. With strong in place rents, the property generates a current cap rate of 4%, 6.1%, with market rents, offering an investor roughly 33% upside. Since this property is legally 4 units, an investor can also benefit from favorable residential financing, making it a perfect fit for investors seeking a well-located asset with upside potential.
Location
State CA
County Los Angeles
Area 654 - San Gabriel
Zoning SLR3*
Interior
Fireplace No
Laundry Washer Hookup, Gas Dryer Hookup
Exterior
Pool None
Community Features Sidewalks
Total Parking Spaces 8
Private Pool No
Building
Lot Description Rectangular Lot
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5387009015
Acceptable Financing Conventional
Listing Terms Conventional
Financing Cash
Special Listing Condition Standard
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Bought with Ryan Loria • Triqor Group