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Key Details
Sold Price $1,880,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CV25099407
Sold Date 06/05/25
Bedrooms 9
Property Sub-Type Res Income 2-4 Units
Property Type Res Income 2-4 Units
Property Description
Private Seller Financing Available! We are pleased to exclusively offer for sale this rare offering featuring five LARGE single-story detached cottages situated on a spacious 20,892 square foot lot, presenting an ideal "value-add" investment opportunity. The property consists of one 3-Bedroom/1-Bath cottage and four 2-Bedroom/1-Bath cottages, totaling 4,864 square feet of rentable space. With three of the units to be delivered vacant at the close of escrow, investors have the immediate opportunity to bring rents to market, achieving a projected 5.82% CAP rate and 12.5 GRM. Each cottage offers tenants private garage parking, individual washer/dryer hookups, and either a private patio or front and back yard spacefeatures that significantly enhance tenant satisfaction and leasing demand. A permitted sixth structure on the property which is currently used as storage offers excellent potential for conversion into an ADU, creating additional income potential (buyer to check with proper city authorities). Utility efficiency is built in with five separate electric & gas meters and two water meters (one for the front cottage and one for the remaining 4 units). Private Seller Financing is available with favorable terms: 25% minimum down payment, 6.5% interest-only payments, and a 7-year due and payable term. This property combines strong current income, immediate upside, and long-term development potential, making it a standout investment in the San Gabriel Valley market.
Location
State CA
County Los Angeles
Zoning Appraiser
Direction Near the intersection of Ramona Blvd & Baldwin Park Blvd. East of 605 Fwy, North of 10 Fwy
Interior
Cooling Wall/Window
Fireplace No
Exterior
View Y/N No
Building
Story 1
Level or Stories 1
Others
Senior Community No
Tax ID 8544025031
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Bought with TING CHU IRN REALTY
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Glen Henderson
Broker Associate | CA BRE #01384181
Broker Associate CA BRE #01384181
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