Temple City, CA 91780,6036 6038 Temple City BLVD
Temple City, CA 91780,6036 6038 Temple City BLVD
Temple City, CA 91780,6036 6038 Temple City BLVD
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$2,200,000
Est. payment /mo
9,112 Sqft Lot
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Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID AR26008361

Construction Status Updated/Remodeled

HOA Y/N No

Year Built 1947

Annual Tax Amount $24,589

Lot Size 9,112 Sqft

Property Sub-Type Apartment

Property Description

Prime 6-unit Value-add near downtown Temple City, Class A Location, NO Local Rent Control, Temple City School District, Owner for 20 years, Large R4 Zone Lot (Clear ADUs Upside), Electrical panels upgraded. 6036-6038 Temple City Blvd, a 6-unit prime value-add apartment investment opportunity located in the highly desirable city of Temple City and within the Temple City School District. Temple City apartment market has always been known as a “high-barrier-to-entry” and “no inventory” market as there is always very limited numbers of multifamily community offered for sale. The properties are located a block from Temple City Downtown area and walking distance/minutes away from Temple City's High school, elementary, and middle schools. Long time owner for 20 years, the property has been meticulously maintained with many upgrades! It is located next to and across from several newer SFR/Townhomes/PUD development.

There is no local rent control in Temple City, thus providing maximum allowable rent increase (5% + CPI – maximum 10%). The current income is low with an estimated ±33% below market! The properties are offered at an attractive price per unit and offer a high 5.62% Proforma CAP Rate and 13x Proforma GRM, making this an attractive investment for a savvy buyer.

The property consists of two buildings, a front single-story 4-unit and a 2-story duplex in the back (garage underneath). It has a total of 3,552 sf living space and is situated on a large 9,113 sqft lot R4 (high density) zone. It has an excellent curb-appeal and neatly manicured landscaping. The property has good unit mix with one (1) x 2bed+1bath, four (4) x 1bed+1bath, and one (1) x Studio. The property has had some upgrades like upgraded electrical panels and subpanels, newer mini split HVAC system in each unit (in addition to windows AC), updated kitchen, 3 units have laundry hookups (tenant own laundry machines). Each unit has dishwasher, individual water heater and separately metered for electricity and gas (buyer to verify). Most of the tenants are on month-to-month agreements which provide clear value-add opportunities for rent increases (buyer to verify!).

Parking is provided by a total of 6 spaces in the back (4 garage and 2 open spaces). There is an extra room with laundry hookups that can be converted into laundry room to bring additional income.

The property is a block from Downtown Temple City with just steps away from Las Tunas Drive.

Location

State CA

County Los Angeles

Area 661 - Temple City

Interior

Interior Features Ceiling Fan(s), Granite Counters

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Flooring Tile, Vinyl, Wood

Fireplaces Type Living Room

Fireplace Yes

Appliance Gas Range

Laundry Washer Hookup, Gas Dryer Hookup

Exterior

Parking Features Assigned, Concrete, Covered, Driveway, Garage

Garage Spaces 4.0

Garage Description 4.0

Fence None

Pool None

Community Features Suburban, Valley

Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected

View Y/N Yes

View Mountain(s), Peek-A-Boo

Roof Type Shingle

Total Parking Spaces 6

Private Pool No

Building

Lot Description 36-40 Units/Acre, Lawn, Landscaped, Level, Near Public Transit, Rectangular Lot, Street Level

Faces West

Story 2

Entry Level Two

Foundation Raised

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Construction Status Updated/Remodeled

Others

Senior Community No

Tax ID 5385014018

Security Features Carbon Monoxide Detector(s),Smoke Detector(s)

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

Virtual Tour https://growthinvestmentgroup.com/listingdetail.aspx?pid=10522

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CRMLS – RECore
Listed by Handoko Chen Growth Investment Group Pasade han.chen@growthinvestmentgroup.com

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