628 Marion Place, Glendora, CA 91740

$2,900,000
List Price
$2,900,000
Status
ACTIVE
MLS#
AR21123383
Year Built
1960
Lot Size
11,188
Acres
0.26
Lot Location
Cul-De-Sac, StreetLevel
Days on Market
10
Property Type
Multifamily
Property Sub Type
Apartment
Stories
Two Levels

Property Description

628 Marion Place is 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. It is currently the HIGHEST CAP Rate apartment in east San Gabriel Valley, even higher CAP than much less desirable communities. 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.

Additional Information

Pool Description
None
Heat
Wall Furnace
Cooling
Yes
Cooling Description
Wall/Window Unit(s)
Sewer
Public Sewer
Water
Public
Number Of Units Total
10
Gross Scheduled Income
$193,963
Operating Expense
51540

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
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Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Handoko Chen from GIG Real Estate Inc.

Based on information from California Regional Multiple Listing Service, Inc. as of . 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.