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This is an amazing value add opportunity. Recent zoning changes have removed development barriers to this property, enabling the addition of approximately 11 residential units without displacing the current tenants. Aside from future development, it is an excellent opportunity to purchase a stable multi-family and commercial investment property. Located in central Glendora on the historical Route 66, this property has been professionally managed and consistently maintained/upgraded. Its location is convenient to shopping and restaurants, with the residential units being set back from the main street. The 13 unit property consists of long term tenants in twelve large 1BD/1BA units (six duplexes) on a large lot, an approx 1550 sf single tenant office building that is leased to a national tenant, and 13 private garages. Front office building built in 1927 and residential units built in approx 1955. Most units have a private yard or private patio and each unit has a private garage and one reserved parking spot. Three units have been completely renovated with improvements that include new range/oven, laminate flooring, kitchen cabinets, quartz counters, bathrooms, and windows. Five units have been partially renovated with improvements that include new flooring and windows. Four units have not been renovated. All units have been upgraded with copper plumbing.
Property Type(s):
Residential Income
| Last Updated | 9/29/2024 | Year Built | 1955 |
|---|---|---|---|
| Community | Glendora | Garage Spaces | 13.0 |
| County | Los Angeles |
Price History
| Prior to Mar 29, '24 | $3,950,000 |
|---|---|
| Mar 29, '24 - Today | $3,750,000 |
Additional Details
| AIR | Wall/Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | Glendora |
| GARAGE | Asphalt, Assigned, Garage, One Space, Yes |
| HOA DUES | 0 |
| INTERIOR | Ceiling Fan(s) |
| LOT | 0.82 acre(s) |
| LOT DESCRIPTION | Rectangular Lot |
| PARKING | Assigned,Asphalt,Garage,One Space |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 1 |
| WATER | Public |
| ZONING | GDC_RT66SP_RSC |
Location
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Listed with JAMES MARTINDALE, BROKER
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