Casa Del Rey Apartment Homes

09-13-2021
09-13-2021

9036 Arcadia Ave, San Gabriel, CA 91775

  • Stabilized Apartment Community
  • Ideal 1031 Exchange Asset
  • Owned and meticulously maintained by one family for over 40 years
  • Ideal Unit Mix with over 60% two bedroom apartments
  • Lush Landscaping and Luxurious Grounds

Property Description

Lee & Associates – Pasadena is proud to present Casa Del Rey Apartment Homes.   The fifty-six unit apartment community is nestled in the East San Gabriel community of Los Angeles County.  Located on a quiet street, the property boasts a well-rounded unit mix with over 60% two bedroom units.  The property consists of ±51,226 rentable square feet and is situated on ±1.17 acres.  Residents and visitors are welcomed by the soothing sounds of the fountain in the entry way which leads to a lush courtyard replete with a koi pond, impeccably manicured grounds, swimming pool and recreation room.   Recent apartment remodels include new cabinetry, quartz countertops, and new stoves.  Each unit has wall a/c and either forced air heating or wall heating depending on the floor plan.  Casa Del Rey has been under the same family ownership for over forty years, and as such has always been meticulously and lovingly maintained.   This property offers an investor a unique opportunity to acquire a sizable, once in a generation, apartment community in a dense infill rental market. Confidentiality Agreement Required.

Key Property Information

Listing Status
Available
Multi-family type
Garden Style
Price
$ 19,250,000
No. of Units
56
Cap Rate
3.04%
GRM / GIM
15.69
Average Occupancy
98%
Year Built
1969
Building Size
51,226 Sq ft
Lot Size
79,497 Sq ft
No. of Stories
2
Opportunity Zone
Off
Price per unit
$ 343,750
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