Yale Avenue Homes | 1113 Yale Ave
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Yale Avenue Homes 1113 Yale Ave
3 Unit Apartment Building $2,199,000 ($733,000/Unit) Claremont, CA 91711
Investment Highlights
- Rare Claremont Investment Opportunity in AAA Location / First Time on the Market in 25+ Years
- Very Low Expense Property / Attractive Seller Financing Available
- Newer Roofs / 1117 Yale Rebuilt in 2017
- Walking Distance to "The Claremont Village", Metro Link, & Claremont Colleges / Located on Quiet Residential Street
- Three Homes on One Large Lot / Ample On-Site Parking
- Substantial Upside in Rents/ Very Large Parcel with Opportunity to Add ADU's & Further Maximize Cash Flow
Executive Summary
*** Attractive Seller Financing Avaiable *** Rare, City of Claremont, investment opportunity consisting of three separate, individual homes on one large 13,317 square foot lot. Located at 1113, 1115, 1117 N. Yale Avenue, the unit mix is comprised of (1) four bedroom/ two bath house, (1) three bedroom/ two bath house, and (1) two bedroom/ one bath house. Each home has its own individual access and private yard, along with additional space for relaxing and entertaining guests. All buildings are separately metered for water, gas, and electricity. There is ample parking on the lengthy driveway with an additional three-car garage and driveway parking in the rear.
Located within walking distance (three blocks) from The Claremont Colleges, “a unique consortium of seven affiliated institutions that also includes Claremont Graduate University, Scripps College, Claremont McKenna College, Harvey Mudd College, Pitzer College, and Keck Graduate Institute of Applied Life Sciences.”
Claremont is known for its many educational institutions, its tree-lined streets, and its historic buildings. The city is primarily residential, with a significant portion of its commercial activity revolving around “The Village”, a popular collection of street-front small stores, boutiques, art galleries, offices, and restaurants adjacent to and west of the Claremont Colleges.
**Attractive Seller Financing Available**
Located within walking distance (three blocks) from The Claremont Colleges, “a unique consortium of seven affiliated institutions that also includes Claremont Graduate University, Scripps College, Claremont McKenna College, Harvey Mudd College, Pitzer College, and Keck Graduate Institute of Applied Life Sciences.”
Claremont is known for its many educational institutions, its tree-lined streets, and its historic buildings. The city is primarily residential, with a significant portion of its commercial activity revolving around “The Village”, a popular collection of street-front small stores, boutiques, art galleries, offices, and restaurants adjacent to and west of the Claremont Colleges.
**Attractive Seller Financing Available**
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$100,200
|
$28.68
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$100,200
|
$28.68
|
| Taxes |
$26,230
|
$7.51
|
| Operating Expenses |
$8,000
|
$2.29
|
| Total Expenses |
$34,230
|
$9.80
|
| Net Operating Income |
$65,970
|
$18.88
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $100,200 |
| Annual Per SF | $28.68 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $100,200 |
| Annual Per SF | $28.68 |
| Taxes | |
|---|---|
| Annual | $26,230 |
| Annual Per SF | $7.51 |
| Operating Expenses | |
|---|---|
| Annual | $8,000 |
| Annual Per SF | $2.29 |
| Total Expenses | |
|---|---|
| Annual | $34,230 |
| Annual Per SF | $9.80 |
| Net Operating Income | |
|---|---|
| Annual | $65,970 |
| Annual Per SF | $18.88 |
Property Facts
| Price | $2,199,000 | Building Class | B |
| Price Per Unit | $733,000 | Lot Size | 0.31 AC |
| Sale Type | Investment | Building Size | 3,494 SF |
| No. Units | 3 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built/Renovated | 1905/2017 |
| Apartment Style | Garden | Parking Ratio | 0.86/1,000 SF |
| Price | $2,199,000 |
| Price Per Unit | $733,000 |
| Sale Type | Investment |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 0.31 AC |
| Building Size | 3,494 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1905/2017 |
| Parking Ratio | 0.86/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | $2,000 | - |
| 3+2 | 1 | $2,700 | - |
| 4+2 | 1 | $3,650 | - |
Walk Score®
Very Walkable (85)
Bike Score®
Very Bikeable (71)
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Yale Avenue Homes | 1113 Yale Ave
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