Seller's Agent in 2022
Douglas McCauley
MARCUS & MILLICHAP
(909) 456-3493
2 in this area
45 Total Sales
618 W Route 66 Glendora, CA 91740
South Glendora NeighborhoodEstimated Value: $15,968,275
3
Beds
3
Baths
43,292
Sq Ft
$369/Sq Ft
Est. Value
Highlights
- 1.45 Acre Lot
- Community Pool
- Laundry Room
- Sandburg Middle School Rated A-
About This Home
As of July 2022We are proud to exclusively present the opportunity to acquire Royal Palms Apartments and Professional Building, a mixed-use investment opportunity comprised of 48 apartment units and 28 commercial suites. Located on the famous Route 66 in the city of Glendora, California, Royal Palms was built in 1962 and sits on a 1.45 acre site and has a combined building size of approximately 43,292 square feet.
Royal Palms Apartments is comprised of two-2 story buildings and consists of twenty four-studio/one bathroom units, twenty three-one bedroom/one bathroom units and one-two bedroom/one bathroom unit. Approximately 50% of the apartments have been updated to feature laminate plank flooring, formica countertops and ceiling fans. The studio/one bathroom floor plans feature walk-in closets and are equipped with a gas stove/oven and a refrigerator. The one bedroom/one bathroom floor plans are spacious and feature his and her closets with a center vanity and are equipped with a gas stove/oven. The property offers various amenities including a secured entrance, 42 tuck-under parking spaces with storage units, two on-site laundry facilities, four central water heaters, bike rack and a gated swimming pool. The buildings have had recent improvements to include seismic retrofit, two new roofs in 2019, new landscaping, re-plastered swimming pool and pump and new exterior doors.
Royal Palms Professional Building is a two-story building that consists of 28 office/retail suites (8 retail suites ground level and 20 office suites 2nd story) ranging from 293 square feet to 1,180 square feet and features 38 surface parking spaces. The property is situated with 225 feet of street frontage on Route 66 with 2 curb cut outs and a traffic count of 20,574 vehicles per day. The building also features central air conditioning and heat, four common area restrooms, new lighting and was re-roofed in 2017. Additional improvements include seismic retrofit, new exterior lighting and freshly painted exterior and interior. Another possible revenue source for the office spaces could include creating virtual offices for individuals who simply require a mailing address.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $180,091
Year Built
- Built in 1962
Lot Details
- 1.45 Acre Lot
- Two or More Common Walls
- Density is over 40 Units/Acre
Home Design
- 43,292 Sq Ft Home
- Property Attached
Bedrooms and Bathrooms
- 3 Bedrooms
- 3 Bathrooms
Laundry
- Laundry Room
Listing and Financial Details
- Tax Lot 36
- Tax Tract Number 400900
- Assessor Parcel Number 8633005015
Community Details
Overview
- 3 Buildings
- 76 Units
Amenities
- Laundry Facilities
Recreation
- Community Pool
Building Details
- Rent Control
- 50 Separate Electric Meters
- 50 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $33,042
- Fuel Expense $8,873
- Gardener Expense $4,080
- Insurance Expense $26,148
- Maintenance Expense $41,973
- Pest Control $1,095
- Pool Expense $1,500
- Professional Management Expense $52,179
- Supplies Expense $7,081
- Trash Expense $27,011
- Water Sewer Expense $11,025
- New Taxes Expense $172,550
- Operating Expense $386,557
- Gross Income $1,089,360
- Net Operating Income $672,553
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Apr 21, 2022
Closed on
Jul 19, 2022
Sold by
Sweetwater Investors I Lp
Bought by
Orellana Family Commercial Properties Glendor
Seller's Agent
Douglas McCauley
MARCUS & MILLICHAP
Buyer's Agent
Jason Espinoza
NEST REAL ESTATE
List Price
$14,995,000
Sold Price
$14,250,000
Premium/Discount to List
-$745,000
-4.97%
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$1,718,275
Avg. Annual Appreciation
3.72%
Purchase Details
Listed on
Aug 20, 2020
Closed on
Mar 10, 2021
Sold by
Feldman Judith and Meyerhoffer Kimberly
Bought by
Sweetwater Investors I Lp
Seller's Agent
Douglas McCauley
MARCUS & MILLICHAP
Buyer's Agent
Douglas McCauley
MARCUS & MILLICHAP
List Price
$12,200,000
Sold Price
$10,150,000
Premium/Discount to List
-$2,050,000
-16.8%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
28.57%
Original Mortgage
$8,348,000
Interest Rate
2.7%
Mortgage Type
Commercial
Purchase Details
Listed on
Aug 20, 2020
Closed on
Mar 8, 2021
Sold by
Donald And Marilyn Gralla Family Trust and David Silver Trust
Bought by
Sweetwater Investors I Lp
Seller's Agent
Douglas McCauley
MARCUS & MILLICHAP
Buyer's Agent
Douglas McCauley
MARCUS & MILLICHAP
List Price
$12,200,000
Sold Price
$10,150,000
Premium/Discount to List
-$2,050,000
-16.8%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$8,348,000
Interest Rate
2.7%
Mortgage Type
Commercial
Purchase Details
Closed on
Aug 31, 2020
Sold by
Meyerhoffer Kimberly and Silver Family Trust
Bought by
Meyerhoffer Kimberly and Stefanie Silver Trust
Purchase Details
Closed on
Nov 19, 2015
Sold by
Gralla Donald A and Gralla Marilyn L
Bought by
Donald & Marilyn Family Trust
Purchase Details
Closed on
Aug 4, 2000
Sold by
Indin Bert M and Bert M Indin Living Trust
Bought by
Indin Investment Company Llc
Purchase Details
Closed on
Jul 9, 1998
Sold by
Silver Lawrence E and Silver Roberta
Bought by
Silver Lawrence E and Silver Roberta
Purchase Details
Closed on
Feb 19, 1997
Sold by
Gralla Donald
Bought by
Gralla Donald A and Gralla Marilyn L
Purchase Details
Closed on
Jan 8, 1997
Sold by
Silver Family A Trust and Lawrence E
Bought by
Silver Lawrence E and Silver Roberta
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Orellana Family Commercial Properties Glendor | $14,250,000 | Commonwealth Land Title | |
| Sweetwater Investors I Lp | $10,150,000 | Chicago Title Company | |
| Sweetwater Investors I Lp | $10,150,000 | Chicago Title | |
| Meyerhoffer Kimberly | -- | None Available | |
| Donald & Marilyn Family Trust | -- | None Available | |
| Indin Investment Company Llc | -- | -- | |
| Silver Lawrence E | -- | -- | |
| Gralla Donald A | -- | -- | |
| Silver Lawrence E | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | Sweetwater Investors I Lp | $8,348,000 | |
| Previous Owner | Sweetwater Investors I Lp | $8,348,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/26/2022 07/26/22 | Sold | $14,250,000 | -1.7% | $329 / Sq Ft |
| 06/08/2022 06/08/22 | Pending | -- | -- | -- |
| 05/18/2022 05/18/22 | Price Changed | $14,500,000 | -3.3% | $335 / Sq Ft |
| 04/21/2022 04/21/22 | For Sale | $14,995,000 | +47.7% | $346 / Sq Ft |
| 03/22/2021 03/22/21 | Sold | $10,150,000 | -12.5% | $233 / Sq Ft |
| 02/16/2021 02/16/21 | Pending | -- | -- | -- |
| 10/12/2020 10/12/20 | Price Changed | $11,600,000 | -4.9% | $267 / Sq Ft |
| 08/20/2020 08/20/20 | For Sale | $12,200,000 | -- | $281 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $180,091 | $14,825,700 | $9,675,720 | $5,149,980 |
| 2024 | $180,091 | $14,535,000 | $9,486,000 | $5,049,000 |
| 2023 | $176,077 | $14,250,000 | $9,300,000 | $4,950,000 |
| 2022 | $132,445 | $10,353,000 | $6,398,460 | $3,954,540 |
| 2021 | $50,776 | $3,075,152 | $1,083,986 | $1,991,166 |
| 2020 | $49,465 | $3,053,650 | $1,072,872 | $1,980,778 |
| 2019 | $48,423 | $2,993,972 | $1,051,836 | $1,942,136 |
| 2018 | $43,758 | $2,700,887 | $880,182 | $1,820,705 |
| 2016 | $41,394 | $2,586,371 | $846,004 | $1,740,367 |
| 2015 | $40,561 | $3,133,826 | $1,071,726 | $2,062,100 |
| 2014 | $46,804 | $3,072,440 | $1,050,733 | $2,021,707 |
Source: Public Records
Agents Affiliated with this Home
-
Douglas McCauley
-
David Covarrubias
Seller Co-Listing Agent in 2022
David Covarrubias
MARCUS & MILLICHAP
(909) 456-3400
2 in this area
47 Total Sales
-
Jason Espinoza
J
Buyer's Agent in 2022
Jason Espinoza
NEST REAL ESTATE
(714) 619-0874
1 in this area
42 Total Sales
-
Steven Amaya
Buyer Co-Listing Agent in 2022
Steven Amaya
NEST REAL ESTATE
(951) 900-3234
1 in this area
65 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: CV22081529
APN: 8633-005-015
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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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