Silva Babaian  Realtor, Real Estate Agent, Granada Hills, CA

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    232 Foothill Boulevard, Glendora, CA 91741
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    232 Foothill Boulevard
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    • MLS#: CV25031497 ( Apartment )
    • Street Address: 232 Foothill Boulevard
    • Viewed: 11
    • Price: $3,300,000
    • Price sqft: $0
    • Waterfront: No
    • Year Built: 1978
    • Bldg sqft: 0
    • Days On Market: 67
    • Additional Information
    • County: LOS ANGELES
    • City: Glendora
    • Zipcode: 91741
    • Provided by: CB RICHARD ELLIS
    • Contact: ERIC ERIC
    • California Regional MLS IDX
    • DMCA Notice
    • Description
      We are proud to present 232 E Foothill Boulevard, a charming 10 unit multifamily building located in the distinguished Hills of Glendora one of only 37 multifamily assets north of Foothill Blvd. The city of Glendora is located in the east San Gabriel Valley off of the 210 and 57 Freeways neighboring other affluent neighborhoods like the cities of La Verne and San Dimas. Tenants enjoy being a short distance away from notable venues and locations like the Dodger Stadium in LA, Santa Anita Racetrack and several malls in the West San Gabriel Valley, Victoria Gardens in Rancho Cucamonga, Top Golf and Ontario Airport in the City of Ontario, and much more. Local educational grounds include Glendora High School, Azusa Pacific University, Citrus Community College, and several grade school options. The property itself has an incredible location with a favorable walk score being just steps away from ample retail amenities in Downtown Glendora. Also, within a short 5 minute drive from the property are big name retailers like Target, Walmart, Home Depot, Trader Joes, Sprouts, Costco, Sams Club, LA Fitness, 24 Hour Fitness, In N Out, Chick Fil A, and a variety of other boutique retailers. 232 E Foothill Blvd is a 10 unit multifamily property offering 7,550 SF of rentable building area spanning across a generous 25,000 SF lot. The property consists of 6, 1 Bedroom/1 Bathroom, 2 2 Bedroom/ 1 Bathroom, and 2, 2 Bedroom/2 Bathroom units averaging 650, 900, and 950 SF, respectively. Currently, the property is producing over $251,940 in annual gross income boasting an above market CAP rate of 5.02%. With similar apartments in the area renting for an average rate of $2,100 per month, a new investor has the opportunity to still capitalize on approximately 15% upside in rents. Additional revenue can be captured via the on site laundry facility, nine single car garages, and at least nine uncovered parking spaces. A savvy investor may recognize the opportunity to capture additional revenue via ADU possibilities and via operational upside by implementing RUBS. 232 E Foothill Boulevard is a promising income producing property that offers a compelling long term investment opportunity. Situated in a highly sought after neighborhood, this property presents a stable investment option for a wide range of investors, including first time buyers, experienced professionals, and those seeking 1031 exchange benefits.
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    Features
    Building Area Total
    1. 7548.00
    Commoninterest
    1. Community Apartment
    Common Walls
    1. 2+ Common Walls
    Cooling
    1. Wall/Window Unit(s)
    Country
    1. US
    Electric Expense
    1. 680.00
    Fuel Expense
    1. 455.00
    Garage Spaces
    1. 9.00
    Gardner Expense
    1. 3000.00
    Heating
    1. Wall Furnace
    Insurance Expense
    1. 7500.00
    Laundry Features
    1. Common Area
    Laundry Income
    1. 3699.00
    Levels
    1. Two
    Lot Features
    1. 6-10 Units/Acre
    Netoperatingincome
    1. 165613.00
    Newtaxesexpense
    1. 40951.00
    Number Of Separate Electric Meters
    1. 10
    Number Of Separate Gas Meters
    1. 10
    Otherexpense
    1. 2000.00
    Otherexpensedescription
    1. Reserves
    Otherincome1
    1. 1662.00
    Otherincome2
    1. 2200.00
    Parcel Number
    1. 8638028028
    Pool Features
    1. None
    Postalcodeplus4
    1. 3351
    Professionalmanagementexpense
    1. 9930.00
    Property Type
    1. Apartment
    Sewer
    1. Public Sewer
    Sourcesystemid
    1. CRM
    Sourcesystemkey
    1. 432033515:CRM
    Spa Features
    1. None
    Totalactualrent
    1. 245700.00
    Totalexpenses
    1. 86102.00
    Trash Expense
    1. 8268.00
    Uncovered Spaces
    1. 7.00
    Vacancyallowance
    1. 7785
    Views
    1. 11
    Water Sewer Expense
    1. 5819.00
    Water Source
    1. Public
    Year Built
    1. 1978
    Year Built Source
    1. Assessor
    Zoning
    1. GDR3_HPOZ
    Headshot for Associate Silva Babaian
    1. Silva Babaian / Realtor
    2. Coldwell Banker Exclusive
    3. CalBRE Lic # 01365805
    4. Mobile: 818.414.6744
    5. Fax: 818.338.5836