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234 Pine Street

San Gabriel, CA 91776

$2,380,000

Listed Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $422 / sqft

1977

calendar_month Built

Property Description

Nestled on a tranquil street and conveniently close to numerous development projects and amenities, the offering represents an opportunity to own an ideal 5-unit apartment building in a terrific San Gabriel location with potential to increase rents by nearly 20%. This will be achieved quicker than in other surrounding markets due to the city's non-rent controlled status (subject only to AB1482). Adjacent to property lies the proposed Rubio Village, a new development featuring 225 residential units and 13,500 square feet of retail space. Constructed in 1977, the subject property consists of , two-story, two-bedroom townhome-style units, complemented by a large single-story front unit with a fireplace and in-unit washer-dryer, ideal for an owner-user. This property exudes pride of ownership and features new electrical panels and brand-new windows. All units are equipped with central HVAC and private balconies. Select units feature modernized kitchens boasting stone countertops, tile flooring, stainless steel appliances, new hardware, recess lighting, and recently renovated bathrooms with updated vanities and designer fixtures. Additionally, most units offer wood-style laminate flooring in the living room, and tile flooring in the kitchen and dining area, and carpet in the bedrooms upstairs. There are two parking spaces allocated for each unit. Soft story retrofit is not required. In addition, the asset is outfitted with surveillance cameras and a gated entrance to enhance security. Currently, three out of the five units are being rented near market value. There is approximately a 20% potential increase in rental income, providing investors with an opportunity to fully stabilize an asset situated in a highly sought-after location with minimal available inventory. The absence of local rent control laws in San Gabriel simplifies the process for owners to stabilize this asset, with rental increases capped at 5% plus the Consumer Price Index (CPI) annual adjustments.

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A
Flooring Information
Material Carpet, Laminate, Tile
Interior Information
Features Ceiling Fan(s)
Cooling Type Central Air

Listing Information

Address 234 Pine Street
City San Gabriel
State CA
Zip 91776
County Los Angeles
Listing Agent Mark Ventre DRE#01811490
Courtesy Of Kidder Mathews of California, Inc.
MLS 24388553
List Price $2,380,000
Status Active
Type Residential Income
Structure Size N/A
Lot Size 7,671
Year Built 1977
DOM 22

Exterior Information

Maps

home_work Nearby Properties

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$2,380,000

king_bed N/A
shower N/A
straighten N/A
straighten N/A
234 Pine Street,

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Image

$18,000/month

king_bed N/A
shower N/A
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shower N/A
straighten N/A
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405 San Gabriel Boulevard,

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king_bed N/A
shower N/A
straighten N/A
straighten N/A
800 Las Tunas Dr #300,

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Image

$1,080,000

king_bed 3
shower 3
straighten 1,727
straighten 25,377
328 Live Oak Street #10,

San Gabriel, CA 91776

Listing information courtesy of: Mark Ventre, Kidder Mathews of California, Inc. . *Based on information from the Association of REALTORS/Multiple Listing as of May 24th, 2024 at 1:07 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.