Exclusive Listings

18-unit value add in Temple City, Proforma CAP 5.80%

Address:
5544 McCulloch Ave
Temple City, CA 91780
Price:
$4,500,000
Status:
Taking Backups
Type:
Apartment
# Units:
18
Year Built:
1958
Building Size:
10,187 SF
Lot Size:
26,517 SF
CAP Rate:
4.06%
GRM:
15.74x
Price/Unit:
$250,000
Price/SqFt:
$442

INVESTMENT HIGHLIGHTS

  • Excellent Location in Temple City, bordering City of Arcadia
  • Within minutes to Temple City Downtown on Las Tunas Drive and Arcadia’s Santa Anita Mall and Santa Anita Racetrack
  • ±28% rental upside (Proforma CAP Rate of 5.8%)
  • Low Price per unit for Temple City location!
  • Located in a “NO inventory” area for multifamily 5+ units and above
  • Strong demographics with ±$104,165 average household income within a-mile radius!
  • Excellent access to FWY 10, and 210; Close to many public transportations on Las Tunas Dr

 

PROPERTY HIGHLIGHTS

  • Excellent curb appeal in a quiet residential street surrounded by single family residential
  • Large lot size with R3 zoning for future redevelopment
  • Attractive curb appeal with beautifully manicured landscaping
  • Easy to maintain and operate with low vacancy history due to its location
  • Overparked building with 34 parking spaces
  • Separately metered for electricity and gas
  • Secured entrance and gated parking

 

EXECUTIVE SUMMARY

The Growth Investment Group is proud to offer McCulloch Temple City, an 18-unit value-add apartment investment opportunity located in the highly desirable city of Temple City.  The property is located on a quiet residential street surrounded by single family houses. It is minutes away from Temple City Downtown on Las Tunas Drive, Santa Anita Mall and Racetrack in Arcadia on Santa Anita Ave and multiple large community shopping centers (newly constructed Camelia Square, Elm Center, K-Mart, Super A Center, etc.). The offering provides high Proforma CAP Rate of 5.8% with ±28% rental upside!

McCulloch Temple City is an 18-unit garden style apartment community with beautiful center courtyard and situated on a large ±26,517sqft lot (R3 zoning). The building has an excellent curb-appeal and neatly manicured landscaping and was built in 1958.  The property has an attractive unit mix with 1 x 2bed+1bath, and 17 x 1bed+1bath. All the units are rented to long-time tenants and offers significant rental upside potential.

Each unit has tiled flooring throughout with granite kitchen countertops, windows A/C, wall heating, and ceiling fans. Each unit has plenty of linen closets, floor to ceiling bedroom closet, and many of the bathrooms have been updated with beautiful porcelain/ceramic tile. Going out of the unit, tenant can enjoy the view of San Gabriel Mountains from the 2nd floor deck.

The property is separately metered for electricity and gas, offer secured entrance and gated parking, and has a shared laundry room. Parking is provided by 34 parking spaces in the back. It is spread out between carports and open space parking. 

LOCATION AMENITIES AND ACCESS

The property is in the heart of Temple City with just minutes away from Temple City Downtown area, Arcadia’s Santa Anita Mall, and several major community shopping centers with local and national retailers. It is on a quiet residential street surrounded by SFR. The area has excellent demographics of ±$104,165 average household income within a-mile radius! The property is surrounded by single family houses, newly built luxury townhomes and condominiums, and smaller 3-4 units’ apartments. The property has superb access to FWY 10, FWY 210 and offers an easy commute to additional employment centers of downtown Los Angeles and adjacent cities of Pasadena, Burbank and Glendale.



Marketing Files


Due Diligence


Broker Contact

Han Widjaja-Chen
Direct: 626.594.4900
[email protected]

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Office:
999 S. San Gabriel Blvd.
San Gabriel, CA 91776
Phone: 626.594.4901
Fax: 626.316.7552
Email: [email protected]
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