NOT LISTED FOR SALE

7959 Hill Dr Rosemead, CA 91770

South San Gabriel Neighborhood
3 Beds
2 Baths
3,623 Sq Ft
0.66 Acres

Last Sold June 02, 2016

Last sale price $950,000 $262 Per Sq Ft

79 Days on Market

About This Home

As of June 2016

We are pleased to present a four-unit, multi-family property with potential development opportunity located at 7959 Hill Drive in the city of Rosemead, California. Situated on a large lot of 28,515 square feet, the subject property consists of four separate single story units. The units were built between 1926 and 1955 with approximately 3,623 total rentable square feet. Title shows five legal units but one of the units was destroyed during a fire. The current four units have an excellent unit mix of three two-bedroom / one-bathroom and one one-bedroom / one-bathroom unit. All units feature private front/backyards, laundry hookups, individual water heaters, pitched roofing and individually metered gas and electricity. Current rents are significantly below market with at least 25 percent upside potential for new owner. Rosemead is not subject to rent control restrictions. Current zoning allows owner to build up to five units of detached condos/townhouse or other agricultural related use. Due to lack of newer construction in the city of Rosemead, this investment allows a new owner multiple options to add value through a brand new development or renovation.

Last Agent to Sell the Property

David Lin

MARCUS & MILLICHAP License #01894476 Listed on: 02/03/2016

Last Buyer's Agent

David Lin

MARCUS & MILLICHAP License #01894476 Listed on: 02/03/2016

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1940

Lot Details

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

Parking

  • 1 Car Garage

Home Design

  • 3,623 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Listing and Financial Details

  • Tax Lot 28
  • Tax Tract Number 701
  • Assessor Parcel Number 5279002005

Community Details

Overview

  • 4 Buildings
  • 4 Units

Building Details

  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $900
  • Maintenance Expense $1,935
  • Other Expense $800
  • Trash Expense $960
  • Water Sewer Expense $1,320
  • New Taxes Expense $13,009
  • Gross Income $3,325
  • Net Operating Income $19,779

Property Details

Home Type

Multi-Family

Year Built

Built in 1940

Lot Details

0

Parking

1

Listing Details

  • Property Attached: Yes
  • Water Sewer Expenses: 1320.00
  • Property Type: Residential Income
  • Parcel Number: 5279002005
  • Year Built: 1940
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 262.21

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 1.00
  • Total Parking Spaces: 2.00

Utilities

  • Utilities: Sewer Available
  • Trash Expense: 960.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Curbs

Lot Info

  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 28515.00
  • Price Per Lot Square Foot: 33.32
  • Lot Size Acres: 0.6550

Multi Family

  • Average1 Bed Area: 576
  • Average2 Bed Area: 1016
  • Gross Income: 3325.00
  • Gross Scheduled Income: 39900.00
  • Insurance Expense: 900.00
  • Lot Size Area: 28515.0000 Square Feet
  • Maintenance Expense: 1935.00
  • Net Operating Income: 19779.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 4
  • Operating Expense: 18924.00
  • Other Expense: 800.00
  • Other Expense Description: Reserves
  • Rent Control: No

Tax Info

  • New Taxes Expense: 13009.00
  • Tax Lot: 28
  • Tax Tract Number: 701

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 Change Sq Ft Price
06/02/2016 06/02/16 Sold $950,000 -12.7% $262 / Sq Ft
04/22/2016 04/22/16 Pending -- -- --
02/03/2016 02/03/16 For Sale $1,088,000 -- $300 / 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 2016

    David Lin

    MARCUS & MILLICHAP

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV16023708

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Rosemead 91770 South San Gabriel

7959 Hill Dr, Rosemead, CA

This home is located at 7959 Hill Dr, Rosemead, CA 91770 since 03 February 2016. This property was built in 1940. 7959 Hill Dr is a home located in Los Angeles County with nearby schools including Potrero Heights Elementary School, Macy Intermediate School, and Schurr High School.

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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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