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

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.

FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access

ANNUAL ANNUAL PER SF
Gross Rental Income $99,999 $9.99
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

PROPERTY TAXES

ZONING

Zoning Code LCR3*
  • Listing ID: 34620707

  • Date on Market: 1/27/2025

  • Last Updated:

  • Address: 6230 N San Gabriel Blvd, San Gabriel, CA 91775