Properties of this size rarely come on the market in San Gabriel, which has historically low inventories for income properties and high property values. Additionally, this is the first time this property has been on the market for more than a decade. The property is located within less than a mile to many multi-million dollar redevelopment projects and improvements both planned and in progress, making this an excellent opportunity for an investor to acquire a property in a rapidly improving market.
The property was built in 1961 with a good unit mix of 8 X 2 bedroom + 1 bathroom units and 12 X 1 bedroom + 1 bathroom units. There is a total of 24 parking spaces on the property. Each of the units has a covered parking space and there are 4 additional uncovered parking spaces for guests. The units can be upgraded with higher end finishes to increase the rental income and their open floor plans and functional layouts make this ideal. The center courtyard of the building features a swimming pool and a small patio for residents to enjoy. There is shared on-site laundry as well, making this a great setup for tenants.
Triplex on a large 19,194 square foot lot situated in a nice and quiet neighborhood of North San Gabriel. Great investment opportunity for investors/builders with possible potential for expansion. Seller had a subdivision plan to built 3 PUDs up to 3000 square feet each (buyer to verify). All units are occupied with stable and long term tenants. Each unit has their own gas, electric and water meters. Very low maintenance, seller only pay for monthly gardening services, all utilities are paid by tenants. Property is conveniently located close to Supermarket, shopping centers and public transportation.