427 W Gladstone St, Glendora, CA 91740

Property Description

This rare investment offers eight multi-family units with 100% single story buildings located on a 0.5 acre lot. There are six, two-bedroom/one bathroom units and two, one-bedroom/one-bathroom units. One of the two-bedroom units has an enclosed garage and the rest of the units offer private front yards and carport parking. Each unit is individually metered for gas and electricity and there is one on-site laundry facility. The property offers stable, long term tenants with 1 tenant living at the property for 13 years. The rents are approximately 15 % below market. A new owner can increase the rent and improve the current operation by 20 %. The property is well located on the corner of Grand Ave. and Gladstone St. Surrounded by mostly single-family homes, the property is benefited from high traffic visibility with minimum competition. Close proximity to Interstate 210 & State Route 57. The property is also within minutes from Glen Oaks Golf Course, Gladstone Park and Citrus College. The Gladstone Street Apartments provide a rare opportunity for an investor seeking a stable investment with an opportunity to increase rents through interior upgrades in one of the most sought after cities in the San Gabriel Valley.