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Listed by Handoko Chen • Growth Investment Group Pasade
$2,200,000
Est. payment /mo
9,113 Sqft Lot
Active
6036 6038 Temple City BLD Temple City, CA 91780
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRAR26008361
Year Built 1947
Lot Size 9,113 Sqft
Source California Regional MLS
Property Description
Prime 6-unit Value-add near downtown Temple City, Class A Location, NO Local Rent Control, Temple City School District, Owner for 20 years, Large R4 Zone Lot (Clear ADUs Upside), Electrical panels upgraded. 6036-6038 Temple City Blvd, a 6-unit prime value-add apartment investment opportunity located in the highly desirable city of Temple City and within the Temple City School District. Temple City apartment market has always been known as a "high-barrier-to-entry" and "no inventory" market as there is always very limited numbers of multifamily community offered for sale. The properties are located a block from Temple City Downtown area and walking distance/minutes away from Temple City's High school, elementary, and middle schools. Long time owner for 20 years, the property has been meticulously maintained with many upgrades! It is located next to and across from several newer SFR/Townhomes/PUD development. 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 proper
Location
State CA
County Los Angeles
Area 661 - Temple City
Rooms
Kitchen Oven Range - Gas
Interior
Heating Wall Furnace
Cooling Window / Wall Unit
Laundry Gas Hookup, 30
Exterior
Parking Features Assigned Spaces, Covered Parking, Garage, Other
Garage Spaces 6.0
Pool 31, None
View Hills, 30
Roof Type Shingle
Building
Lot Description Grade - Level
Foundation Raised
Water District - Public
Others
Tax ID 5385014018
Special Listing Condition Not Applicable
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