San Marino Park Arms 6230 N San Gabriel Blvd
22 Unit Apartment Building $4,250,000 ($193,182/Unit) 6.60% Cap Rate San Gabriel, CA 91775
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INVESTMENT HIGHLIGHTS
- Significant Upside Potential
- ADU Potential
- 26 Parking Spaces
- Five Units Delivered Vacant
- Large Courtyard
EXECUTIVE SUMMARY
CALL FOR OFFERS WAS FRIDAY FEBRUARY 7th - 30+ offers were received. We are currently in counter rounds.
The San Marino Park Arms is a 22-unit apartment building, with 5 units being delivered vacant. This two-story garden-style walk-up building was built in 1960 and encompasses 18,820 SF on a 26,166 SF lot. The property features 26 covered parking spaces, a common area courtyard, and laundry facilities.
The unit mix comprises:
(8) 2 Bedroom + 2 Bathroom units
(6) 2 Bedroom + 1 Bathroom units
(8) 1 Bedroom + 1 Bathroom units
Prime San Gabriel Valley location, steps from the San Gabriel Country Club, with easy access to major freeways, top-rated schools, and a wealth of shopping, dining, and entertainment options in neighboring cities such as San Marino, Pasadena, and Arcadia.
6230 N. San Gabriel Blvd. offers multiple opportunities to enhance cash flow. The vacancies allow a new owner to implement a value-add strategy to bring units up to market rental rates. Additionally, there is potential to add Accessory Dwelling Units (ADUs), convert the laundry facilities from a lease to owned, and apply capital expenditures to improve the building’s exterior.
The San Marino Park Arms is a 22-unit apartment building, with 5 units being delivered vacant. This two-story garden-style walk-up building was built in 1960 and encompasses 18,820 SF on a 26,166 SF lot. The property features 26 covered parking spaces, a common area courtyard, and laundry facilities.
The unit mix comprises:
(8) 2 Bedroom + 2 Bathroom units
(6) 2 Bedroom + 1 Bathroom units
(8) 1 Bedroom + 1 Bathroom units
Prime San Gabriel Valley location, steps from the San Gabriel Country Club, with easy access to major freeways, top-rated schools, and a wealth of shopping, dining, and entertainment options in neighboring cities such as San Marino, Pasadena, and Arcadia.
6230 N. San Gabriel Blvd. offers multiple opportunities to enhance cash flow. The vacancies allow a new owner to implement a value-add strategy to bring units up to market rental rates. Additionally, there is potential to add Accessory Dwelling Units (ADUs), convert the laundry facilities from a lease to owned, and apply capital expenditures to improve the building’s exterior.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
---|---|---|
Gross Rental Income |
$99,999
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$9.99
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Other Income |
$99,999
![]() |
$9.99
![]() |
Vacancy Loss |
$99,999
![]() |
$9.99
![]() |
Effective Gross Income |
$99,999
![]() |
$9.99
![]() |
Taxes |
$99,999
![]() |
$9.99
![]() |
Operating Expenses |
$99,999
![]() |
$9.99
![]() |
Total Expenses |
$99,999
![]() |
$9.99
![]() |
Net Operating Income |
$99,999
![]() |
$9.99
![]() |
PROPERTY FACTS In Escrow
Price | $4,250,000 |
Price Per Unit | $193,182 |
Sale Type | Investment |
Cap Rate | 6.60% |
Gross Rent Multiplier | 9.7 |
No. Units | 22 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Low Rise |
Building Class | B |
Lot Size | 0.61 AC |
Building Size | 18,820 SF |
Average Occupancy | 73% |
No. Stories | 2 |
Year Built | 1960 |
Parking Ratio | 1.38/1,000 SF |
UNIT AMENITIES
- Ceiling Fans
- Tile Floors
- Kitchen
- Oven
- Range
- Tub/Shower
- Carpet
- Family Room
SITE AMENITIES
- Courtyard
- Laundry Facilities
- Property Manager on Site
- Storage Space
- Private Bathroom
UNIT MIX INFORMATION
DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
---|---|---|---|
2+2 | 8 | $1,594 | 950 |
2+1 | 6 | $1,861 | 900 |
1+1 | 8 | $1,555 | 725 |
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PROPERTY TAXES
Parcel Number | 5374-001-021 | Total Assessment | $651,359 |
Land Assessment | $128,571 | Annual Taxes | ($1) ($0.00/SF) |
Improvements Assessment | $522,788 | Tax Year | 2024 |
ZONING
Zoning Code | LCR3* |