$2,900,000
$2,900,000
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7,002 SqFt
SOLD DATE : 08/24/2021
Key Details
Sold Price $2,900,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Square Footage 7,002 sqft
Price per Sqft $414
MLS Listing ID AR21123383
Sold Date 08/24/21
HOA Y/N No
Year Built 1960
Lot Size 0.260 Acres
Acres 0.26
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.
Location
State CA
County Los Angeles
Area 629 - Glendora
Zoning GDR3
Rooms
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Laminate, Vinyl, Wood
Fireplaces Type None
Fireplace No
Laundry Common Area
Exterior
Garage Assigned
Carport Spaces 6
Pool None
Community Features Suburban, Valley
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
Parking Type Assigned
Total Parking Spaces 15
Private Pool No
Building
Lot Description Cul-De-Sac, Street Level
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 8644002041
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash
Special Listing Condition Standard
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Bought with JUAN COVARRUBIAS • UNITED CAPITAL REALTY