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Home For Sale

Picture of Home For Sale in Rosemead, California, United States

$5,350,000

7529 Hellman Ave
Rosemead, California, United States

32bd 22ba

Listed By: Realtyww Info

Listed On: 05/12/2023

Listing ID: GL10553146 View More Details

Description

The Hellman House Apartments is a 20-unit apartment complex located at 7529 Hellman Avenue, Rosemead, CA 91770. Built in 1963, the building features an excellent unit mix consisting of (2) three-bedroom/two-bathroom units, (8) two-bedroom/one-bathroom units and (10) one-bedroom/one-bath units. The property features a courtyard setting, spacious laundry facility and secured parking. The 14, 841 square foot building sits on a large 15, 012 lot, which is RMR3YY zoned. The building is separately metered for both electricity and gas and consistently holds a very low annual expense ratio. The Hellman Apartments is a value-add opportunity in which new ownership has an opportunity to increase rents by virtue of implementing a renovation program to the unit interiors. Current rents are below market offering significant rental upside. This is a rare opportunity for an investor who is looking for a value-add property in a high-end supply constrained submarket with historically low vacancy rates. Featuring character 1963 construction and well-maintained condition, this trophy investment offers historically low expenses, ease of management and superb cash flow all while enjoying an excellent tenant profile in a superb location. The Hellman Apartments features a Walk Score of 56 and it is conveniently located just a short distance from restaurants, parks and 10/710/605/60 freeways.

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Listed by: Lotus Property Services, Inc.
Source: The World Property Journal

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