NOT LISTED FOR SALE

525 N San Gabriel Ave Azusa, CA 91702

3 Beds
2 Baths
8,318 Sq Ft
0.28 Acres

Last Sold March 30, 2022

Last sale price $2,800,000 $337 Per Sq Ft

13 Days on Market

About This Home

As of March 2022

We are proud to exclusively present the opportunity to acquire 525 North San Gabriel Avenue, a 10-unit investment opportunity located in the desirable city of Azusa, California. Built in 1963, the property sits on a 12,257 square foot parcel and has a building size of 8,318 square feet. The building consists of two-one bedroom/one bathroom floorplans of approximately 650 square feet and eight-two bedroom/one bathroom floorplans of approximately 877 square feet. Parking consists of fifteen single car garages accessible by way of a rear alley. The property features newer vinyl windows, copper plumbing and drought resistant landscaping. Select units feature private balconies/patios and all units are individually metered for gas and electricity and have individual hot water heaters.

The property is located approximately one half mile from Azusa Pacific University and Citrus College and is ideally situated with easy access to Route 210. Because of its central location and proximity to Downtown Los Angeles, the city is well served by the Azusa Downtown Gold Line, providing its residents many alternative ways of traveling to work, entertainment, dining, shopping, and home. In addition to the city’s progressive economy, business opportunity, restaurants and recreation, the property is an excellent opportunity for an investor looking to acquire a well-kept asset with over 44% rental upside in an outstanding location poised for continued growth.

Last Agent to Sell the Property

Douglas McCauley

MARCUS & MILLICHAP Listed on: 01/11/2022

Co-Listed By

David Covarrubias

MARCUS & MILLICHAP

Last Buyer's Agent

Eric Chen

CB RICHARD ELLIS

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1963

Lot Details

  • 0.28 Acre Lot
  • Two or More Common Walls
  • Density is 6-10 Units/Acre

Parking

  • 15 Car Garage
  • Parking Available
  • Single Garage Door

Home Design

  • 8,318 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Listing and Financial Details

  • Legal Lot and Block 15 / 43
  • Assessor Parcel Number 8611006008

Community Details

Overview

  • 10 Units

Building Details

  • Rent Control
  • 11 Separate Electric Meters
  • 11 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,543
  • Fuel Expense $1,543
  • Insurance Expense $3,581
  • Maintenance Expense $7,343
  • Pest Control $650
  • Trash Expense $1,140
  • Water Sewer Expense $1,543
  • New Taxes Expense $34,872
  • Operating Expense $54,237
  • Gross Income $146,862
  • Net Operating Income $92,626

Property Details

Home Type

Multi-Family

Year Built

Built in 1963

Lot Details

0

Parking

15

Listing Details

  • CapRate: 3.31
  • Price Per Unit: 280000
  • Property Attached: Yes
  • Water Sewer Expenses: 1543.00
  • Zoning: AZC2YY
  • Property Type: Residential Income
  • Parcel Number: 8611006008
  • Year Built: 1963
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 336.62

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 15.00
  • Parking: Yes
  • Parking Features: Garage - Single Door
  • Total Parking Spaces: 15.00

Utilities

  • Laundry: No
  • Pest Control Expense: 650.00
  • Sewer: Public Sewer
  • Trash Expense: 1140.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 12196.80
  • Lot Size Acres: 0.2800

Multi Family

  • Electric Expense: 1543.00
  • Fuel Expense: 1543.00
  • Garage Income: 1685.00
  • Gross Income: 146862.00
  • Gross Multiplier: 18.90
  • Gross Operating Income: 145177.00
  • Gross Scheduled Income: 148140.00
  • Insurance Expense: 3581.00
  • Lot Size Area: 0.2800 Acres
  • Maintenance Expense: 7343.00
  • Maintenance Percent: 5.00
  • Net Operating Income: 92626.00
  • Number Of Separate Electric Meters: 11
  • Number Of Separate Gas Meters: 11
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 10
  • Operating Expense: 54237.00
  • Rent Control: Yes
  • Total Expenses: 54237.00
  • Vacancy Allowance Rate: 2.00

Tax Info

  • New Taxes Expense: 34872.00
  • Tax Block: 43
  • Tax Census Tract: 4044.01
  • Tax Lot: 15

Range of Values:

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List Price
Sold Price
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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 Change Sq Ft Price
03/30/2022 03/30/22 Sold $2,800,000 0.0% $337 / Sq Ft
01/11/2022 01/11/22 For Sale $2,800,000 -- $337 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Douglas McCauley

    Seller's Agent in 2022

    Douglas McCauley

    MARCUS & MILLICHAP

    (909) 456-3493

    1 in this area

    44 Total Sales

    Douglas McCauley
    Section Image
  • David Covarrubias

    Seller Co-Listing Agent in 2022

    David Covarrubias

    MARCUS & MILLICHAP

    (909) 456-3400

    1 in this area

    46 Total Sales

    David Covarrubias
    Section Image
  • Eric Chen

    Buyer's Agent in 2022

    Eric Chen

    CB RICHARD ELLIS

    (909) 418-2030

    1 in this area

    59 Total Sales

    Eric Chen
    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV22005658

California Regional Multiple Listing Service (CRMLS)

California Los Angeles County Azusa 91702

525 N San Gabriel Ave, Azusa, CA

This home is located at 525 N San Gabriel Ave, Azusa, CA 91702 since 11 January 2022. This property was built in 1963. 525 N San Gabriel Ave is a home located in Los Angeles County with nearby schools including Victor F. Hodge Elementary School, Gladstone High School, and St. Frances of Rome School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

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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