$1,400,000
$1,450,000
3.4%For more information regarding the value of a property, please contact us for a free consultation.
8251 Rosemead BLD Pico Rivera, CA 90660
0.27 Acres Lot
Key Details
Sold Price $1,400,000
Property Type Multi-Family
Sub Type Fourplex
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CRPW23142280
Year Built 1979
Lot Size 0.266 Acres
Property Description
We are pleased to present 8251 Rosemead Blvd to market a four unit multifamily property in the city of Pico Rivera. Built in 1979 Rosemead Blvd is a condo style building with units averaging 1,472 square feet, consisting of two identical side by side duplex's with a unit mix of two 3 bed/2 bath units and two 2 bed/2 bath units separately metered for gas, electric, and water. Rents are currently substantially below market (43%) giving a new investor a large amount of upside by raising rents to market with a pro forma cap rate of 6%. With the large condo style units - a new investor can enjoy a premium in rental rates compared to other buildings in the area, in addition to a condo mapping exit strategy, or a potential subdivision to make this two duplex's. The property has four garage spaces in the rear that the current tenants use for storage and parking but this could also be an opportunity for an ADU conversion to add one additional dwelling unit to the property.
Location
State CA
County Los Angeles
Area 649 - Pico Rivera
Interior
Laundry Other
Exterior
Garage Spaces 4.0
Pool None
Building
Water Private
Others
Special Listing Condition Not Applicable
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Bought with DOLLY YAU • DOLLY REALTY