234 South Pine Street
234 South Pine Street
$2,380,000
10
10
5,628
5,628
$423
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...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.
- Listed by Mark Ventre • DRE #01811490 • Brokerage DRE #01001040 • Kidder Mathews of California, Inc.
Property Details for 234 South Pine Street
Zoning
SLR3*
Parcel Number5367020024
Total Units5.0
Living Area5628
Source Living AreaVendor Enhanced
AreaSan Gabriel (654)
Vacancy Rate0
Lot Size Area7671
Location
LISTING UPDATED: 05/24/2024 12:58 PM
Property Details for 234 South Pine Street
Status | Active |
---|---|
MLS # | 24-388553 |
Days on Market | 29 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1977 |
Lot Size | 0.18 AC / 7,671 SF |
County | Los Angeles County |
Location
Building Information for 234 South Pine Street
Stories2Residences-Year Built1977Building Size-Lot Size0.18 AC / 7,671 SF
Payment Calculator
$15,037 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 234 South Pine Street
Property History for 234 South Pine Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 234 South Pine Street
Taxable ValueLand$1,115,518Additions$613,534Total$1,729,052
Tax Record2023$24,582 ($2,048 / month)
Home Facts
Total Finished SqFt5,628 SqFtAbove Grade Finished SqFt5,628 SqFtLot Size7,669 SqFtStyleMulti-Family Res (5+ Units)Year Built1977ZoningSLR3*CountyLOS ANGELESAPN5367-020-024
Schools near 234 South Pine Street
This home is within San Gabriel Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Charter - | 7 to 12 |
Rating | School | Distance |
---|---|---|
Washington Elementary School PublicK to 5 | ||
Jefferson Middle School Public6 to 8 | ||
Gabrielino High School Public9 to 12 | ||
Options for Youth San Gabriel School Charter7 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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