536 E Lemon Ave, Glendora, CA 91741

Property Description

536-540 E Lemon Ave, Glendora is a single-story bungalow style 3 units located in the best location of Glendora. It is situated on a quiet residential street several blocks east of Glendora Blvd (downtown area), and a few blocks south of Foothill Blvd. The property consists of a single-family house in the front, and a single-story duplex in the back. New roofs were installed in 2018 with proper permits and carry a 7-year warranty. The windows have been retrofitted with double paned windows. Current CAP Rate is ±3.67% with Proforma CAP Rate over 7% (with garage converted to ADU). Investor can take 30-year fixed financing to avoid raging inflation and climbing interest rates. The front house is a sizable 2bedroom+1bathroom house with central A/C and heating complete with attached 1 car garage. The back duplexes have ±1700SF livable space split between two x 2bedroom+1bathroom units. There is a 2-car garage between these 2 units which offers privacy without any adjoining wall with the other unit/tenant. In the back there is an additional 2 car carport for additional parking. The in-between garage provides huge potential for ADU conversion. Each unit has individual water heater and laundry hookups. The 2nd unit (#538) has a shared backyard area with the front house (#536). It has central A/C and heating and laundry hookups. The last unit (#540) is a large and recently upgraded 2bed+1bath single story unit complete with laundry hookups. It has large living room, dining area, and has been completely upgraded with new wood flooring, new quartz kitchen countertops, new shaker style kitchen cabinet, new led chandelier/ceiling fan combo in the living room, new chandeliers in one of the bedroom and kitchen, new Bluetooth bathroom fan, windows A/C in living room and front bedroom, ceiling fans in dining room and 2nd bedroom, nicely tiled shower with glass shower door, and plenty of linen cabinets. The community has a total of 1 attached car garage, 2-car attached garage, 2-car carport and can park a total of 8 cars (3 are tandem). Each unit is separately metered for electricity and gas. The community is nearby Route 66 and within minutes to The Village (downtown) Glendora. The strategic location provides convenience to a lucky tenant; Foothill Blvd/Route 66 is a block away, The Village (downtown) Glendora is within walking distance, schools (elementary, middle and high school) are literally minutes away.