921-945 East Route 66

California & West + Apartments

Created date: September 26, 2023

Date last updated: September 26, 2023

4.72% Pro Forma Cap Rate

Property Description

Martindale Commercial Real Estate, Inc is pleased to present this opportunity to purchase a stable multi-family and commercial investment property. Located in central Glendora, Its location is convenient to shopping and restaurants, with the residential units being set back from the main street while the office building offers great Route 66 frontage on the historical Route 66. This property has been professionally managed and consistently maintained/upgraded. The 13 unit property consists of long term tenants in twelve large 1BD/1BA units (six duplexes), an approximate 1550 sf single tenant office building that is leased to a national tenant, and 13 private garages. The front office building was built in 1927 and the residential units were built in approximately 1955. Most units have a private yard or private patio and each unit has a private garage and one reserved parking spot. Three units have been completely renovated with improvements that include new range/oven, laminate flooring, kitchen cabinets, quartz counters, bathrooms, and windows. Five units have been partially renovated with improvements that include new flooring and windows. Four units have not been renovated. All units have been upgraded with copper plumbing.

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Broker Details

Jeff Martindale

Key Property Information

Listing Status:	Available
Listing Type:	Call for offers
Multifamily type:	Apartments \| Mixed-Use
Price:	$3,950,000
No. of Units:	13
Cap Rate:	4.72%
Average Occupancy:	100
Lot Size:	35,716.00 Sq ft
No. of Stories:	1
Buy Side Fee:	2%
Opportunity Zone:	No
Price per unit:	$303,846