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Key Details
Sold Price $4,415,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Square Footage 11,264 sqft
Price per Sqft $391
MLS Listing ID PW24082357
Sold Date 06/27/24
HOA Y/N No
Year Built 1962
Lot Size 0.389 Acres
Property Description
We are pleased to present Hellman Apartments, a 17-unit apartment community in Rosemead, CA. The building features an excellent mix of 1, 2, and 3-bedroom units, gated entry, covered parking, individual gas & electric meters, and copper plumbing. Additionally, approximately 85% of the units have been fully renovated with vinyl flooring, stainless steel appliances, granite countertops, and recessed LED lighting. With strong in-place rents, the property generates a current cap rate of 5.1% and 7.2% with market rents, offering an investor roughly 30% upside in rental income. This property is ideal for investors seeking a well-located and well-maintained asset with significant upside potential.
Location
State CA
County Los Angeles
Area 651 - Rosemead/S. San Gabriel
Zoning RMR3YY
Rooms
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 1.0
Carport Spaces 16
Garage Description 1.0
Pool None
Community Features Sidewalks
Total Parking Spaces 17
Private Pool No
Building
Lot Description Rectangular Lot
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5286009018
Acceptable Financing Conventional
Listing Terms Conventional
Financing Conventional
Special Listing Condition Standard
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Bought with SUNNY LEE • CAPITAL FINANCIAL & INV.,INC.
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