Highest current cap rate in San Gabriel at +/-4.88%! Country View Apartments-40 units apartment. Desirable area of north San Gabriel, south of Huntington Drive - adjacent to Pasadena, Arcadia. Huge almost 1-acre lot, excellent opportunity for an investor to acquire in this high-demand submarket and generate excellent cash flow. Costly interior renovations have been completed, just make the less expensive exterior/cosmetic improvements to dramatically increase value. Property sold 'As-Is' in its present condition, Seller will not pay or make any repairs or replacements.Total building size is +/-23,805 square feet, sitting on a huge +/-39,273 square foot lot. Unit mix: (35) 1 bed / 1 bath, (5) 2 bed / 2 bath. Owner made significant capital expenditures by renovating 95% of the units with granite countertops, updated kitchen cabinets, laminate flooring, ceiling fans, and updated bathroom sink cabinets. Entire building has been upgraded with copper plumbing (hot and cold water lines), and brand new water heaters. All units have walk-in closet and storage space. 57 total covered parking spaces and laundry room generate significant income. Buyer to verify all information herein. Broker/Agent and Seller does not guarantee its accuracy.
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