826 S Mayflower Ave - Apartments FOR SALE


Monrovia, CA 91016
$2,490,000 USD
626-313-4901
826 S Mayflower Ave, Monrovia, CA for Sale
$2,490,000 USD
Apartments - FOR SALE
1/13
null | 4.64% Cap Rate

826 S Mayflower Ave
Monrovia, CA 91016


HIGHLIGHTS

  • Very strong Monrovia Location
  • Newer Roof & Updated Electrical Breakers
  • Solid Rents & Stable Tenants
  • Great On-Site Parking (12 total spaces)

OVERVIEW

Fantastic opportunity to purchase a well maintained Monrovia apartment property that provides consistent and predictable rental income. PLEASE NOTE: The property consists of 7 units plus 2 legal, non-conforming units for a total of 9 rental units (Buyer to verify). Situated on a corner, the double lots combined are about 12,921 SF in total. With a variety of unit types, these apartments appeal to variety of renters. The building consists of Two 3 Bed + 2 bath units; one 3 Bed + 1 bath unit; two 1 Bed + 1 bath units and 4 Studio + 1 bath units. There are a total of 8 gas and 8 electric meters, so the landlord pays the gas and electricity for the two legal, non-conforming units, which are 1 Bed units. On-site parking include covered carport and open spaces accommodates for a total of 12 vehicles. Much of the plumbing has been updated with copper, the electrical breakers have been updated and a complete NEW roof about 5 years ago. Five units have individual water heaters and the four studio units are supplied by one central water heater with gas paid for by the landlord. There is a former laundry room that can be made active again for on-site laundry and additional income. PLEASE DO NOT GO ONTO THE PROPERTY, TALK TO OR DISTURB THE TENANTS. DRIVE-BY ONLY. Broker/Agents make no guarantees or warranties regarding property unit count. Buyer to independently verify unit count accuracy.

FOR SALE DETAILS

PRICE

$2,490,000 USD

PRICE/SF

$319 USD /SF

# OF UNITS

9

PRICE/UNIT

$276,667

CAP RATE

4.64%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1955

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.29 AC

LAND SF

12,828 SF

ZONING

MORM*

APN/PARCEL ID

8506-008-027,8506-008-028

ASK ABOUT THIS PROPERTY

Alexander MetaxasRealty Investment AdvisorsMore Info
626-313-4901

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Alexander MetaxasRealty Investment AdvisorsMore Info
626-313-4901

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