NOT LISTED FOR SALE

427 W Gladstone St Glendora, CA 91740

Charter oak Neighborhood
5 Beds
3 Baths
7,044 Sq Ft
0.5 Acres

Last Sold December 31, 2014

Last sale price $1,450,000 $206 Per Sq Ft

22 Days on Market

Highlights

  • 0.5 Acre Lot
  • No HOA
  • 1 Car Garage
  • Washington Elementary School Rated A-
  • Laundry Room

About This Home

As of December 2014

This rare investment offers eight multi-family units with 100% single story buildings located on a 0.5 acre lot. There are six, two-bedroom/one bathroom units and two, one-bedroom/one-bathroom units. One of the two-bedroom units has an enclosed garage and the rest of the units offer private front yards and carport parking. Each unit is individually metered for gas and electricity and there is one on-site laundry facility. The property offers stable, long term tenants with 1 tenant living at the property for 13 years. The rents are approximately 15 % below market. A new owner can increase the rent and improve the current operation by 20 %. The property is well located on the corner of Grand Ave. and Gladstone St. Surrounded by mostly single-family homes, the property is benefited from high traffic visibility with minimum competition. Close proximity to Interstate 210 & State Route 57. The property is also within minutes from Glen Oaks Golf Course, Gladstone Park and Citrus College. The Gladstone Street Apartments provide a rare opportunity for an investor seeking a stable investment with an opportunity to increase rents through interior upgrades in one of the most sought after cities in the San Gabriel Valley.

Last Agent to Sell the Property

David Lin

MARCUS & MILLICHAP License #01894476 Listed on: 12/01/2014

Last Buyer's Agent

Lois Brand Billings

CBD Investment Inc. License #00936593

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1947

Lot Details

  • 0.5 Acre Lot
  • Two or More Common Walls
  • Density is 2-5 Units/Acre

Parking

  • 1 Car Garage
  • 7 Carport Spaces
  • Parking Available
  • Assigned Parking

Home Design

  • 7,044 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 3 Bathrooms

Laundry

  • Laundry Room

Listing and Financial Details

  • Tax Lot 4
  • Tax Tract Number 70
  • Assessor Parcel Number 8641004035

Community Details

Overview

  • No Home Owners Association
  • 3 Buildings
  • 8 Units

Amenities

  • Laundry Facilities

Building Details

  • 8 Leased Units
  • 9 Separate Electric Meters
  • 9 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $2,000
  • Maintenance Expense $5,328
  • Other Expense $2,000
  • Trash Expense $3,960
  • Water Sewer Expense $5,557
  • New Taxes Expense $19,364
  • Gross Income $9,000
  • Net Operating Income $67,151

Property Details

Home Type

Multi-Family

Year Built

Built in 1947

Lot Details

0

Parking

1

Listing Details

  • Property Attached: Yes
  • Water Sewer Expenses: 5557.00
  • Property Type: Residential Income
  • Parcel Number: 8641004035
  • Year Built: 1947
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Levels: One
  • Price Per Square Foot: 205.85

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 7.00
  • Garage Spaces: 1.00
  • Parking: Yes
  • Parking Features: Assigned, Carport, Garage
  • Total Parking Spaces: 8.00

Utilities

  • Utilities: Sewer Available
  • Laundry: Yes
  • Laundry Features: Community
  • Trash Expense: 3960.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 21572.00
  • Lot Size Acres: 0.4950

Multi Family

  • Average1 Bed Area: 750
  • Average2 Bed Area: 900
  • Gross Income: 9000.00
  • Gross Scheduled Income: 109800.00
  • Insurance Expense: 2000.00
  • Lot Size Area: 21572.0000 Square Feet
  • Maintenance Expense: 5328.00
  • Net Operating Income: 67151.00
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Gas Meters: 9
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 8
  • Number Of Units Total: 8
  • Operating Expense: 39409.00
  • Other Expense: 2000.00
  • Other Expense Description: Reserves
  • Rent Control: No
  • Total Actual Rent: 9000.00

Tax Info

  • New Taxes Expense: 19364.00
  • Tax Lot: 4
  • Tax Tract Number: 70
  • Tax Year: 2013

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
12/31/2014 12/31/14 Sold $1,450,000 -3.3% $206 / Sq Ft
12/23/2014 12/23/14 Pending -- -- --
12/01/2014 12/01/14 For Sale $1,500,000 -- $213 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • D

    Seller's Agent in 2014

    David Lin

    MARCUS & MILLICHAP

    Section Image
  • Lois Brand Billings

    Buyer's Agent in 2014

    Lois Brand Billings

    CBD Investment Inc.

    (626) 823-4679

    3 Total Sales

    Lois Brand Billings
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV14252607

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Glendora 91740 Charter Oak

427 W Gladstone St, Glendora, CA

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California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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