1349 Elm Avenue, San Gabriel, California 91775, San Gabriel, 91775 - bed, bath

1349 Elm Avenue, San Gabriel, California 91775 home-pic-0
ACTIVE$8,100,000
1349 Elm Avenue, San Gabriel, California 91775
0Bed
0Bath
15,384Sqft
18,367Lot
Year Built
1988
Close
-
List price
$8.1M
Original List price
$8.1M
Price/Sqft
$527
HOA
-
Days on market
-
Sold On
-
MLS number
PF25094581
Home ConditionGood
Features
View-

About this home

We found 3 Cons,5 Pros.

Discover a rare opportunity to acquire a pride-of-ownership 14-unit apartment building in the highly desirable city of San Gabriel! On the market for the first time in 26 years, this gated and well-maintained property offers approximately 15,384 SF of rentable space on an 18,362 SF R3-zoned lot with 80 ft of street frontage. The unit mix includes spacious 3BR/2BA and 2BR/2BA floor plans, complemented by manicured front and back yards. Each unit features central A/C and heating, individual water heaters, separate gas and electric meters, two dedicated covered parking spaces, and access to an on-site laundry facility. Conveniently located near the high-traffic intersection of Rosemead Blvd and Las Tunas —at the prime Temple City corner—the property is surrounded by retail destinations including Camellia Square, GW Supermarket, Chuze Fitness, Elm Shopping Center and newly built luxury apartment developments. Most units are currently occupied, generating immediate income with strong rent upside potential. Whether you're expanding your portfolio or seeking a long-term investment in a growth market, this San Gabriel multifamily opportunity delivers both performance and potential.

Condition Rating
Good

Built in 1988, the property is well-maintained as described. The visible unit features recent updates including modern laminate wood-look flooring and freshly painted walls. The kitchen has updated white cabinets, clean white countertops, a modern stainless steel sink with a pull-down faucet, and a stainless steel gas range, suggesting a renovation within the last 5-15 years. While the kitchen light fixture is somewhat dated, and no bathrooms are shown, the overall impression is move-in ready with functional major systems like central A/C and heating. The on-site laundry facility appears functional but basic.
Pros & Cons

Pros

Prime Location & Market Growth: Strategically located near a high-traffic intersection (Rosemead Blvd and Las Tunas), surrounded by major retail destinations and new luxury apartment developments, indicating a strong and growing market.
Strong Investment Potential: A rare 'pride-of-ownership' asset on the market for the first time in 26 years, offering immediate income from occupied units and significant rent upside potential in a desirable San Gabriel market.
Desirable Unit Features & Amenities: Units boast spacious 2BR/2BA and 3BR/2BA floor plans, central A/C and heating, individual water heaters, and separate utility meters, enhancing tenant comfort and reducing landlord operational costs. On-site laundry and manicured yards add to tenant appeal.
Ample Dedicated Parking: Each of the 14 units is provided with two dedicated covered parking spaces, a significant convenience and value-add for tenants in a dense urban area.
Well-Maintained & Gated Property: Described as a 'gated and well-maintained property,' suggesting good security and a reduced likelihood of immediate, major deferred maintenance issues upon acquisition.

Cons

Property Age & Potential for Capital Expenditures: Built in 1988, the property is 36 years old. While well-maintained, major systems (e.g., roofing, plumbing, electrical) may be nearing the end of their useful life, potentially requiring significant capital expenditures in the future.
High Entry Price Point: With a list price of $8.1 million, this represents a substantial capital investment, which may limit the pool of prospective buyers to larger investors or institutions.
Lack of Specific Financial Details: The description mentions 'most units are currently occupied' and 'strong rent upside potential' but lacks specific details on current rent rolls, vacancy rates, or operating expenses, requiring extensive due diligence for accurate financial assessment.

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