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$11,525,000

Beds
Unknown
sq ft
Unknown

3733 Gibson Rd, El Monte, CA 91731

3733 Gibson Rd

El Monte, CA 91731

  • 118 days on market
With 39-Turnkey units, this investment offering provides a rare opportunity for investors to acquire a stable and cash-flowing asset in one of the core cities of West San Gabriel Valley submarket. The city does not have any Local Rent Control ordinance, providing a healthy annual rent increase up to 10% or 5%+CPI (per California AB1482). Situated strategically right off the famed Valley Boulevard, this community provides excellent location amenities with proximity to many major local and regional shopping centers, restaurants, parks, and public transportation. Bordered by Temple City and Arcadia on its north, San Gabriel and Rosemead on its east, this location provides superb access to most of San Gabriel Valley well-known amenities such as The Shops at Santa Anita in Arcadia, Temple City downtown, Valley Boulevard retail corridor that goes all the way to Alhambra. The turnkey factor presents cash-flow opportunity to investors without having to do any rehab work. The Atrium is a two-story garden style community that was built in 1963 with an excellent curb appeal and has been completely renovated from top to bottom. It has a secure entrance with intercom system and a large atrium area that leads to a center courtyard. It offers excellent community amenities with brand new leasing office, brand new fitness center, brand new façade, brand new landscaping throughout, new exterior paint, new roof, new mailboxes, new security camera system installed, new wood-fence for pool area, new barbeque area, and many other significant upgrades. It is situated on an oversized ±1.08-acre R3 lot. It has a total building size of ±32,043 square feet which translates to a large ±821 SF average unit size (buyer to verify). It offers an excellent unit mix of 19 large two-bedroom/one-bathroom and 20 large one-bedroom/one-bathroom units and units. Each unit has been meticulously upgraded with high end upgrades and offers excellent unit amenities such as: brand new kitchen and kitchen cabinets with quartz countertops, stainless steel appliances (refrigerator, gas range, dishwasher), brand new bathroom with new vanity, new flooring throughout, brand new electrical subpanel in each unit, new paint color scheme for entry door, new double pane windows throughout, new ceiling fans in bedroom and living room, new windows a/c unit in living room, new windows coverings, and many others.

Details

Property type

Apartment

Est. home value

$12,794,491

Lot size

1.0846 acres

Price per sq ft

Unknown

Year built

1963

HOA

No

Price History

08/28/2024
CRMLS

CRMLS #AR24178997

Listed
$11,525,000
+0.22%
04/15/2024
CLAW

CLAW #23325635

Removed
$11,500,000
02/22/2024
CLAW

CLAW #23325635

Price change
$11,500,000
-6.12%

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Pool, Gated

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Pacific Western National Bank

Loan start date

October 2019

Original loan amount

$7,100,000

Est. remaining balance

Not provided

Interest rate

3.32%

Loan type

Building or Construction Loan, 30 year

Seller

Atrium Apartments Llc

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 12/24/2024 at 8:40 AM

Listing updated: 12/04/2024 at 6:00 PM

Listed by: Han Chen, Growth Investment Group Pasade Phone #: (626) 594-4900

MLS: CRMLS #AR24178997

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