32-u upgraded in Temple City school district, High cash-on-cash return

6648 Rosemead Boulevard, San Gabriel, CA

   SOLD!   

$9,100,000

Price

4.01%

Cap Rate

5.43%

Pro Forma Cap Rate

Gallery
Street
Map
Overview
Cap Rate
4.01%
Pro Forma Cap Rate
5.43%
Cash-on-Cash
5.15%
NOI
$364,935
Building Size
20,456 sqft
Lot Area
31,643 sqft
Occupancy
100%
Class
B
Units
32
GRM
16.08
Price Per Sqft
$445
Price Per Unit
$284,000
Zoning
R3
Year Built
1966
Floors
2
Parking Spots
37
Year Last Renovated
2017
Construction Status
existing
Roof
pitch
Investment Strategy
Value Add
Description

The Growth Investment Group is proud to offer JUNIPER POINTE – 6648 Rosemead Blvd., a 32-unit completely upgraded apartment investment opportunity located in the City of San Gabriel, CA. The property is unique due to its strategic location in the north side of City of San Gabriel, bordered by the City of Arcadia on its east side, and the City of Pasadena on its north side. It has a prominent frontage on Rosemead Boulevard with superb access to nearby amenities such as school, local and national retailers, public transportation, and freeways (FWY 210 and FWY 10).

The property is assigned to Temple City Unified School District (Longden Elementary, Oak Ave Intermediate, and Temple City High School), which considered as one of the best school districts in West San Gabriel Valley area. It is in a superior demographics area with ±$105,000 average household income within a 1-mile radius.

The property is a two-story garden style apartment with a center courtyard and many amenities. It was built in 1966 and is situated on a large 31,643 square feet lot. It has secured entry, sundeck, security cameras installed, center courtyard, intercom system, barbeque area, and bike rack. It is separately metered for electricity and gas. The property offers a desirable unit mix of eighteen (18) 2bed+1bath units and fourteen (14) 1bed+1bath units. It has 35 parking spaces (30 carports + 1 garage + 4 open space parking) with an ability to add 2 more space by re-striping the open space area.

The property has been renovated with many capital improvements which includes new roof, new dual pane windows throughout, new exterior paint, new fiberglass decking and sealing for 2nd floor walkway, new rain gutter system, new landscaping and sprinkler system, new water heaters, new entrance system, and many more.

All units have been upgraded with new dual pane windows, granite kitchen countertops, new kitchen cabinetry, new windows A/C, new gas stove, new laminate wood flooring, travertine tile flooring in the kitchen, completely upgraded bathroom with new vanity (granite counter), tiled bathroom and tiled bathtub wall, clear bathtub glass door, new linen cabinets, and many more.

Highlights
  • Highly desirable location in north San Gabriel and within Temple City Unified school district
  • Prominent location on Rosemead Blvd with easy access to many amenities City of San Gabriel, City of Arcadia, and City of Pasadena have to offer
  • Extensively upgraded apartment building with upgraded units; Low maintenance with UPSIDE rental potential
  • Strong demographics with ±$105,000 average household income within a 1-mile radius
  • One of strongest submarkets in San Gabriel Valley; comparable to City of Arcadia, Pasadena, and South Pasadena
  • Within minutes to Santa Anita Mall in Arcadia and Santa Anita Race Track; walking distance to Huntington Drive Retail Corridor and in Rosemead Blvd Retail Corridor
  • Recent capital improvements: new roof, new dual pane windows throughout, new exterior paint, recently filled up swimming pool, new fiberglass decking and sealing for 2nd floor walkway, new rain gutter system, new landscaping and sprinkler system, new water heaters, new entrance system, and much more.
  • Excellent unit mix with more than 50% are 2bedroom units
  • Garden style apartment with excellent curb appeal
  • Ample parking, ZERO tuck-under parking
  • Amenities rich location and property
Documents
Title
Flyer-JuniperPointe-2020t12.pdf
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Location
Gallery