Listed by Handoko Chen, GIG Real Estate Inc.,

118 W Mission Road

San Gabriel, CA, 91776

$17,500,000

$370 per ft²
$17,500,000
$370 per ft²
Pending
Pending
 - For Sale
carpenters-square
47,192 ft²
property_type
Multi-family
calendar
Built 1973
VILLA LAS GOLONDRINAS apartment, a charming and unique 50-unit prime Value-add apartment opportunity in the desirable City of San Gabriel (core San Gabriel and not Unincorporated area). This immaculate and well-maintained property is located right off Del Mar Blvd and within walking distance to Valley Blvd retail corridor. The property is not under any local rent control and allows maximum rent increases under statewide AB1482 ordinance. With excellent convenience near Valley Blvd, it is within the desirable San Gabriel School District. The property was built in 1973 by the seller’s partnership, has a total of ±47,192sqft building size (average unit size is ±943SF-buyer to verify), and situated on a large ±63,075sqft lot with an excellent curb-appeal and neatly manicured landscaping. The property has a unique Spanish style architecture with arched beams and Spanish tile planters. It enjoys very low vacancy history and currently fully occupied with ±94% are month-to-month tenants. In addition to rental upside, the large lot and overparked situation provides prime opportunity for ADUs (buyer to verify). The property offers excellent unit mix of twenty-two (22) large 2bedroom+1bathroom unit, and twenty-eight (28) large 1bedroom+1bathroom units. Most of the units have private balcony or patio; 2 units have large private backyard. The units are large and bright with excellent layout. Some units have had some upgrades (number unknown) with updated kitchen and newer floorings. Broker estimated that the average size for 2bedroom units are between ±1,000SF to ±1,100SF, and average size of 1bedroom units are between ±750SF to ±850SF (buyer to verify). The community offers many amenities to tenants such as lush central courtyards with seating area, elevator, 3 ADA ramps to parking area, secured entrance and gated parking, storage cabinets in the carport area, a small dog park area, and much more! The property is serviced by 2 large water heaters, and shared laundry room (seller own machines). Each unit is separately metered for electricity (master metered for gas).
MLS® ID:
AR22113525
Listed:
5/26/22
Updated:
7/5/22
Coldwell Banker Global Luxury
Ash Rizk

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Laundry Description
Common Area
Floor Description
See Remarks
Fireplace
None
Cooling
Wall/Window Unit(s)
Heating
Wall Furnace

Exterior/Building Features

Lot Size
1.45 acres lot
Lot Details
Irregular Lot, Lot Over 40000 Sqft, Level
Sewer
Public Sewer

Other Property Details

Area Name
654 - San Gabriel
HOA Amenities
Valley
Garage
No
Parking
Carport
Parking Total
99.0
View
N
County
Los Angeles
Utilities
Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
Water Source
Public
Pool
No
Pool Description
None
Total Stories
3
Zoning
SLC1D*

Property History

Date
Event
Price
Value
6/21/22
Pending
-
-

 

Listed by Handoko Chen, GIG Real Estate Inc.,

Based on information from California Regional Multiple Listing Service, Inc. as of 7/5/22. 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.

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Data last updated 12:52 AM UTC, 7/5/22

Coldwell Banker Global Luxury
Ash Rizk
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