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7314 Rosemead Blvd, Pico Rivera, CA 90660

7314 Rosemead Blvd, Pico Rivera, CA 90660
$2,375,000

Description

Stephen Takahashi, Johnnie Stiegler, and Isaac Rosales are proud to present 7314 Rosemead Blvd in Pico Rivera. This property contains 7 units, consisting of (1) 2-bedrooom/1-bath unit and (6)1-bedroom/1-bath units. The building and each of the units has been substantially remodeled! The upgrades include a new roof, all new electrical, copper plumbing, windows, interior fixtures, doors, walls, paint, AC, new kitchens, bathrooms, and more. The subject property will come with a 24-month builder’s warranty. This opportunity is a great investment with little to non-upfront maintenance in a continually growing rental market.

7314 Rosemead Blvd also may offer an opportunity to build additional units on the lot. Sitting on a 27,152 Sq Ft RM lot, there is ample space to add additional units on. BUYER TO VERIFY

INVESTMENT HIGHLIGHTS

This remodeled building will be a great investment during this time of uncertainty by generating guaranteed income from the government. 7314 Rosemead Blvd is offering repositioned vetted tenants by a local market management company specializing in subsidized income for over 40 years! No need to worry about underperforming rents and the issues with statewide rent control from raising rents. The 1-bed/1-bath units are currently leased at $1,785 and the 2-bed/1-bath at $1,985 where an owner can increase the rents annually at 8.34%

  • Unit Mix: (1) 2+1 (6) 1+1
  • Parking 10 – 1 Car Garage Parking
  • Upgrades/Remodels: Over $400,000 in Capital Expenditures, including new Water Heaters, Plumbing, Electrical, Doors/Windows, Flooring, Roof, Appliances, Etc

Property Downloads

  • City: Pico Rivera
  • State/county: CA
  • Country: United States

Detail

Updated on June 16, 2020 at 4:03 pm

  • Price: $2,375,000
  • List Date: 6/15/2020
  • Property Size: 4,486 Sq Ft
  • Land Area: 27,006 Sq Ft
  • Year Built: 1952
  • Property Type: Multifamily
  • Property Status: Active
  • Numbers of Units: 7
  • NOI: $96,618
  • GRM: 4.07%
  • CAP RATE: 15.17
  • Price per Unit: $339,286
  • Market GRM: 4.07%
  • Market CAP RATE: 15.17

Contact info

Stephen Takahashi
Stephen Takahashi
(310) 890-5270(310) 403-9145
Linkedin
Johnnie Stiegler
Johnnie Stiegler
(310) 990-9685(310) 447-2213

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