This property is located at 1337 East Las Tunas Drive in the city of San Gabriel, California. The subject property is being listed on the market for the first time in 29 years. Built in 1958, the single-story apartments consist of an excellent unit mix of 100 percent two-bedroom/one-bathroom units. Each unit is approximately 688-square feet and located on a 10,312-square foot lot. Due to it's long term tenancy, the owner is renting out the units approximately 56 percent below market. Each unit is individually metered for gas and electricity. The apartment is located on Las Tunas Drive, within walking distance to Rosemead Boulevard - surrounded by restaurants, shopping centers, and entertainment. Due to its close proximity to major employment such as the San Gabriel Valley Hospital and San Gabriel District Offices, the demand for rentals in the surrounding area has been helping the subject property to operate at historically 100 percent occupancy with rents currently below market. Las Tunas Drive Apartments offers an investor a rare opportunity to acquire a stable, trophy location asset with a huge potential to increase rent through renovation in one of the most sought after cities in the San Gabriel Valley.
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Listing Courtesy ofMARCUS & MILLICHAP