5944 Golden West AveTemple City, CA 91780

Property Details for 5944 Golden West Ave

Year built

1964

Property size (Sq ft)

5,940 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional six-unit apartment building in Temple City, CA, presents a compelling investment opportunity. Built in 1964 and meticulously maintained by the original owners, this 5,940 square foot property boasts a 100% occupancy rate. The building features a mix of two and three-bedroom units, currently generating a NOI of $83,229, with a cap rate of 3.48%. However, significant rental upside potential exists due to below-market rents. A pro-forma analysis, based on comparable properties within a five-mile radius, projects a pro-forma NOI of $117,898 and a pro-forma cap rate of 4.92%. The property is situated in a desirable neighborhood, across from a public library and park, and adjacent to a church complex. Temple City offers a vibrant retail scene, high household income, and low crime rates. The building is legally non-conforming, offering a significant advantage over new construction due to current parking and zoning regulations. Original building plans are available, and a recent roof replacement comes with a warranty. A 2022 appraisal is also available for review. This fee-simple ownership opportunity offers a rare combination of strong current income and substantial future growth potential. The asking price is $2,395,000, or $399,167 per unit. This represents a unique chance to acquire a well-maintained, income-producing asset in a highly desirable location.

Location Insight

City

Temple City

County

Los Angeles

State

California

Latitude

34.1087

Longitude

-118.057

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