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    628 Marion Place

    Glendora, CA 91740
    • $2,900,000
    • STATUS: Active Under Contract
    • ON SITE: 43 days
    • ID#: AR21123383
    Under Contract
    UPDATED: 23 min ago
    $2,900,000
    • 0
      BEDS
    • 0.26
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1960
    County:

    School Ratings & Info

    Description

    628 Marion Place is a 10-unit garden-style apartment community in the City of Glendora, California. This offering presents a rare opportunity for investor to acquire a well located and updated apartment close to the foothill area of the San Gabriel Valley sub-market. It is in a strong demographics area with average household income of 100,658 in a 2-mile radius, located within minutes from downtown Glendora "The Village, and across the street from community of single-family houses. It is currently the HIGHEST CAP Rate apartment in east San Gabriel Valley, even higher CAP than much less desirable communities. The property is a 2-story apartment that was built in 1960 and situated on a 11,188 sqft lot. It offers an excellent unit mix of four (4) 2 bedroom+1 bathroom and six (6) 1 bedroom+1 bathroom units. Most of the units have been upgraded with luxury wood vinyl flooring, updated kitchen, updated bathroom, dual pane windows throughout and new windows A/C & heating units. The current rental income is below market. The property has a shared laundry room (seller own machines). Each unit is a large unit with living and dining room, upgraded with luxury wood vinyl flooring, some unit have new kitchen cabinets, granite/quartz countertops, custom-color paint, new bathroom (tiled bathtub/shower wall, new bathtub/shower sliding door, new bathroom vanity with mirror), plenty of storage cabinets, and ceiling fans in dining area and bedrooms. Each unit is individually metered for electricity and gas with its own individual water heater. The property provides 15 parking spaces which consist of 6 carport spaces and 9 open spaces. It has a shared laundry room (machines are seller own), and security camera system.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-07-24T23:26:04.243. 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 deemed reliable but is not guaranteed accurate by the MLS or Twiss Realty. Licensed in the State of California, USA.
    www.twissrealty.com/homes/118128252
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    628 Marion Place Glendora, CA 91740

    • Price: $2,900,000
    • Status: Active Under Contract
    • Updated: 23 min ago
    • ID#: AR21123383
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.26
    Acres
    1960
    Built
    Neighborhood:
    629 - Glendora
    County:
    Los Angeles
    Area:
    629 - Glendora
    Property Description
    628 Marion Place is a 10-unit garden-style apartment community in the City of Glendora, California. This offering presents a rare opportunity for investor to acquire a well located and updated apartment close to the foothill area of the San Gabriel Valley sub-market. It is in a strong demographics area with average household income of 100,658 in a 2-mile radius, located within minutes from downtown Glendora "The Village, and across the street from community of single-family houses. It is currently the HIGHEST CAP Rate apartment in east San Gabriel Valley, even higher CAP than much less desirable communities. The property is a 2-story apartment that was built in 1960 and situated on a 11,188 sqft lot. It offers an excellent unit mix of four (4) 2 bedroom+1 bathroom and six (6) 1 bedroom+1 bathroom units. Most of the units have been upgraded with luxury wood vinyl flooring, updated kitchen, updated bathroom, dual pane windows throughout and new windows A/C & heating units. The current rental income is below market. The property has a shared laundry room (seller own machines). Each unit is a large unit with living and dining room, upgraded with luxury wood vinyl flooring, some unit have new kitchen cabinets, granite/quartz countertops, custom-color paint, new bathroom (tiled bathtub/shower wall, new bathtub/shower sliding door, new bathroom vanity with mirror), plenty of storage cabinets, and ceiling fans in dining area and bedrooms. Each unit is individually metered for electricity and gas with its own individual water heater. The property provides 15 parking spaces which consist of 6 carport spaces and 9 open spaces. It has a shared laundry room (machines are seller own), and security camera system.
    Exterior Features

    Carport Spaces 6 Carport YN Yes Lot Features Cul-De-SacStreet Level Number Of Separate Electric Meters 11 Open Parking Spaces 9 Parking Features Assigned Parking Total 15 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Common Walls 2+ Common Walls Cooling Wall/Window Unit(S) Cooling YN Yes Fireplace Features None Fireplace YN No Flooring LaminateVinylWood Heating Wall Furnace Heating YN Yes

    Property Features

    Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 4.71 Common Interest Community Apartment Community Features SuburbanValley Current Financing Conventional Electric Standard Electric Expense 1138 Fuel Expense 0 Garage YN No Gross Income 193963 Gross Scheduled Income 193963 Insurance Expense 3503 Land Lease YN No Laundry Features Common Area Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan Maintenance Expense 2925 Net Operating Income 136604 New Construction YN No New Taxes Expense 31743 Number Of Separate Gas Meters 11 Number Of Separate Water Meters 1 Operating Expense 51540 Possession Close Of Escrow Property Sub Type Apartment Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Total Actual Rent 16048 Trash Expense 3015 Utilities Cable ConnectedElectricity ConnectedNatural Gas ConnectedPhone Available Water Sewer Expense 2424 Water Source Public Zoning Gdr3

    Listing provided courtesy of Handoko Chen of Gig Real Estate Inc.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-07-24T23:26:04.243. 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 deemed reliable but is not guaranteed accurate by the MLS or Twiss Realty. Licensed in the State of California, USA.
     
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