$1,880,000
$1,650,000
13.9%For more information regarding the value of a property, please contact us for a free consultation.
0.48 Acres Lot
SOLD DATE : 06/05/2025
Key Details
Sold Price $1,880,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CV25099407
Sold Date 06/05/25
HOA Y/N No
Year Built 1962
Lot Size 0.480 Acres
Property Sub-Type Apartment
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 space—features 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
Area 608 - Baldwin Pk/Irwindale
Zoning BPR3*
Interior
Heating Central
Cooling Wall/Window Unit(s)
Fireplaces Type None
Fireplace No
Laundry Washer Hookup
Exterior
Parking Features Assigned, Garage, Paved
Garage Spaces 7.0
Garage Description 7.0
Fence Brick
Pool None
Community Features Sidewalks
Utilities Available Electricity Available, Natural Gas Available, Sewer Available, Water Available
View Y/N No
View None
Roof Type Shingle
Total Parking Spaces 12
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 8544025031
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Financing Seller Financing
Special Listing Condition Standard
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Bought with TING CHU • IRN REALTY