8251 Rosemead Boulevard, Pico Rivera, CA 90660
Property
Sold October 2023
Listing Agent: Jackson Jorgensen (DRE #02022727) · Listing Office: Younglewin Advisors, Inc. · Contact: jackjorgs@gmail.com · Bought with: DOLLY YAU · DOLLY REALTY · MLS #PW23142280 · Source: CRMLS
About this property
We are pleased to present 8251 Rosemead Blvd to market a four unit multifamily property in the city of Pico Rivera. Built in 1979 Rosemead Blvd is a condo style building with units averaging 1,472 square feet, consisting of two identical side by side duplex's with a unit mix of two 3 bed/2 bath units and two 2 bed/2 bath units separately metered for gas, electric, and water. Rents are currently substantially below market (43%) giving a new investor a large amount of upside by raising rents to market with a pro forma cap rate of 6%. With the large condo style units - a new investor can enjoy a premium in rental rates compared to other buildings in the area, in addition to a condo mapping exit strategy, or a potential subdivision to make this two duplex's. The property has four garage spaces in the rear that the current tenants use for storage and parking but this could also be an opportunity for an ADU conversion to add one additional dwelling unit to the property.
Listing description from the October 2023 sale, as reported to CRMLS.
Sale history