618-620 W Route 66 - Apartments FOR SALE


Glendora, CA 91740
$14,700,000 USD
213-631-8788
618-620 W Route 66, Glendora, CA for Sale
$14,700,000 USD
Apartments - FOR SALE
1/38
null | 5.3% Cap Rate

618-620 W Route 66
Glendora, CA 91740


HIGHLIGHTS

  • PRIME LOCATION
  • EXCEPTIONAL ACCESS
  • WALK SCORE - 81
  • ON-SITE LAUNDRY
  • OUTDOOR COMMUNAL SPACE & POOL
  • RENOVATED RESIDENTIAL UNITS UPON TENANT TURNOVER

OVERVIEW

Positioned along the historic Route 66, just north of the Foothill (I-210) Freeway, this offering presents an exceptional investment opportunity in one of San Gabriel Valley’s most sought-after and affluent submarkets. The Royal Palms Apartments and Professional Building, benefits from high visibility and accessibility, located between Barranca Avenue to the east and Grand Avenue to the west, serving as the gateway into Glendora. Surrounded by a diverse mix of retail, recreation, entertainment, top-rated schools, higher education institutions, healthcare facilities, and public transportation, the property is positioned to attract strong tenant demand across both residential and commercial spaces. The Royal Palms Apartments and Professional Building is a rare mixed-use investment opportunity, encompassing approximately 25,460 square feet of residential space across 48 apartment units and approximately 18,026 square feet of commercial space, consisting of retail and office units. Originally constructed in 1962, the property is comprised of three two-story buildings with a combined 43,486 square feet of building area, situated on a 1.45-acre site within the Glendora City Route 66 Specific Plan, Barranca Gateway zoning designation. As part of this district, the site benefits from a pedestrian-oriented design and a mix of uses that enhance the area’s economic vitality while complementing the surrounding residential neighborhoods. Additionally, the property accommodates 70 total parking spaces, including 49 covered spaces dedicated to residents and 21 surface spaces for business visitors, ensuring ample accessibility for tenants and guests. The Royal Palms Apartments and Professional Building is centrally located near prominent amenities such as Azusa Pacific University, Finkbiner Park, Citrus Crossing, University Promenade, Glen Oaks Golf Course, Louis Pompei Memorial Sports Park, and Felix Event Center. These nearby lifestyle and entertainment destinations enhance the property’s livability, supporting its appeal as a long-term investment for multifamily and mixed-use investors.

FOR SALE DETAILS

PRICE

$14,700,000 USD

PRICE/SF

$338 USD /SF

# OF UNITS

78

PRICE/UNIT

$188,462

CAP RATE

5.3%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Royal Palms Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1962

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.45 AC

LAND SF

63,162 SF

ZONING

GDC_RT66SP_BG

APN/PARCEL ID

8633-005-015

ASK ABOUT THIS PROPERTY

Jenny EngCBREMore Info
213-631-8788

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Jenny EngCBREMore Info
213-631-8788

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.