UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR26008361
Construction Status Updated/Remodeled
HOA Y/N No
Year Built 1947
Annual Tax Amount $24,589
Lot Size 9,112 Sqft
Property Sub-Type Apartment
Property Description
There is no local rent control in Temple City, thus providing maximum allowable rent increase (5% + CPI – maximum 10%). The current income is low with an estimated ±33% below market! The properties are offered at an attractive price per unit and offer a high 5.62% Proforma CAP Rate and 13x Proforma GRM, making this an attractive investment for a savvy buyer.
The property consists of two buildings, a front single-story 4-unit and a 2-story duplex in the back (garage underneath). It has a total of 3,552 sf living space and is situated on a large 9,113 sqft lot R4 (high density) zone. It has an excellent curb-appeal and neatly manicured landscaping. The property has good unit mix with one (1) x 2bed+1bath, four (4) x 1bed+1bath, and one (1) x Studio. The property has had some upgrades like upgraded electrical panels and subpanels, newer mini split HVAC system in each unit (in addition to windows AC), updated kitchen, 3 units have laundry hookups (tenant own laundry machines). Each unit has dishwasher, individual water heater and separately metered for electricity and gas (buyer to verify). Most of the tenants are on month-to-month agreements which provide clear value-add opportunities for rent increases (buyer to verify!).
Parking is provided by a total of 6 spaces in the back (4 garage and 2 open spaces). There is an extra room with laundry hookups that can be converted into laundry room to bring additional income.
The property is a block from Downtown Temple City with just steps away from Las Tunas Drive.
Location
State CA
County Los Angeles
Area 661 - Temple City
Interior
Interior Features Ceiling Fan(s), Granite Counters
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Tile, Vinyl, Wood
Fireplaces Type Living Room
Fireplace Yes
Appliance Gas Range
Laundry Washer Hookup, Gas Dryer Hookup
Exterior
Parking Features Assigned, Concrete, Covered, Driveway, Garage
Garage Spaces 4.0
Garage Description 4.0
Fence None
Pool None
Community Features Suburban, Valley
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
View Y/N Yes
View Mountain(s), Peek-A-Boo
Roof Type Shingle
Total Parking Spaces 6
Private Pool No
Building
Lot Description 36-40 Units/Acre, Lawn, Landscaped, Level, Near Public Transit, Rectangular Lot, Street Level
Faces West
Story 2
Entry Level Two
Foundation Raised
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Construction Status Updated/Remodeled
Others
Senior Community No
Tax ID 5385014018
Security Features Carbon Monoxide Detector(s),Smoke Detector(s)
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
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