7529 Hellman Avenue, Rosemead, CA 91770
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Sold Price :
$4,725,000
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Beds :
N/A
-
Baths :
N/A
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Property Size :
N/A sqft
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Year Built :
1963
Property 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.
Interior Features
| Bedroom Information |
| Bedrooms |
N/A |
| Bathroom Information |
| Bathrooms |
N/A |
Listing Information
| Address |
7529 Hellman Avenue |
| City |
Rosemead |
| State |
CA |
| Zip |
91770 |
| County |
Los Angeles |
| Listing Agent |
Brian Gordon DRE #01302670 |
| Courtesy Of |
Lotus Property Services, Inc. |
| Close Price |
$4,725,000 |
| Status |
Closed |
| Type |
Residential Income |
| Subtype |
Apartment |
| Structure Size |
N/A |
| Lot Size |
14,842 |
| Year Built |
1963 |
Listing information courtesy of: Brian Gordon, Lotus Property Services, Inc.. *Based on information from the Association of REALTORS/Multiple Listing as of Jan 10th, 2024 at 12:17 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
