219 San Gabriel AveAzusa, CA 91702

Property Details for 219 San Gabriel Ave

Year built

1962

Property type

Apartment buildings

Description

This exceptional multifamily investment opportunity presents a 12-unit apartment building located at 219-221 N San Gabriel Ave, Azusa, CA 91702. The property, built in 1962, comprises two, two-story buildings totaling 10,000 net rentable square feet. Currently boasting 100% occupancy (as of July 11, 2024), this value-add property offers significant upside potential. The current Net Operating Income (NOI) stands at $197,104, with a pro-forma NOI projected at $232,404, resulting in a current cap rate of 5.21% and a pro-forma cap rate of 6.14%. The asking price is $3,785,000, translating to $315,417 per unit. The majority of units feature upgraded counters and flooring, and the floor plans are predominantly two-bedroom units. This property benefits from an assumable financing option at a fixed 3.30% interest rate until 2029. Its convenient location between the 210, 57, and 605 freeways provides easy access to retail, employment centers, and schools, contributing to its strong growth market potential and long-term appreciation prospects. This investment offers a compelling combination of immediate rental upside, a desirable location, and attractive financing terms, making it an ideal addition to any portfolio. The property is situated in Los Angeles County and offers significant tax benefits.

Location Insight

City

Azusa

County

Los Angeles

State

California

Latitude

34.1252

Longitude

-117.909

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